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Big Oil’s Carbon Capture Conundrum

Big Oil’s Carbon Capture Conundrum

Energy experts and environmentalists express…

Energy / Crude Oil

The Quiet Destruction Of Colombia’s Shale Oil Potential

Jul 23, 2020 at 14:56 | Matthew Smith

Sharply weaker oil prices, falling investment and dwindling oil production are weighing heavily on Colombia’s economic outlook. Last decade, the strife-torn Andean country bet its economic future on…

Is This The World’s Riskiest Oil Frontier?

Jul 23, 2020 at 12:04 | Viktor Katona

Somalia’s government has announced that it would hold its first-ever offshore licensing round this August, marking the starting point of Africa’s perhaps most adventurous oil frontiers. Still recovering from the…

Permian Leads Recovery As Frackers Ramp Up Activity After Oil Crash

Jul 23, 2020 at 11:05 | Rystad Energy

The Covid-19 downturn has caused a shocking decline in new fracking operations in the US, with monthly numbers plunging to a bottom of just 325 wells in June. A Rystad…

U.S. Shale Output Set For Another Slide As New Well Drilling Stalls

Jul 23, 2020 at 10:14 | Tsvetana Paraskova

Despite the fact that U.S. shale producers have brought back a quarter of the output they had curtailed, production is set for a new slump after the summer as new…

Barclays: Oil Could See Correction If Fuel Demand Recovery Stalls

Jul 23, 2020 at 09:10 | Tsvetana Paraskova

Oil prices could be in for a correction in the near term if fuel demand recovery further stalls amid surging coronavirus cases in the United States, Barclays said on…

Halliburton Looks Beyond Shale As Fracking Remains Unprofitable

Jul 22, 2020 at 15:30 | Haley Zaremba

Way back in January (it’s been a long year) Hallburton was already souring on shale. Way before the novel coronavirus put the final nail in the coffin of…

Russia Considers Emulating The World’s Largest Oil Hedge

Jul 22, 2020 at 13:28 | Tsvetana Paraskova

Russia is considering whether to adopt a kind of state oil hedging program, similar to Mexico’s oil hedge, to protect government revenues from oil price crashes in the future, Russian…

Is The EU's Historic Green Stimulus Plan Ambitious Enough?

Jul 22, 2020 at 12:48 | Tsvetana Paraskova

While the equity and oil markets cheered on Tuesday the historic deal that European Union leaders sealed to assist Europe’s recovery from the pandemic, European lawmakers, economists, and climate…

Oil Prices Drop After EIA Confirms Crude Inventory Build

Jul 22, 2020 at 09:43 | Irina Slav

Crude oil prices fell further today after the Energy Information Administration reported a crude oil inventory build of 4.9 million barrels for the week to July 17. The EIA…

Texas Regulators Ask Washington To Act Against Saudi Oil Dumping In U.S.

Jul 22, 2020 at 09:00 | Irina Slav

The federal government should take steps against Saudi Arabia and Russia’s dumping of oil on the American market during the Covid-19 crisis, the chairman of the Texas Railroad Commission has…

Will U.S. Shale Ever See Another Golden Age?

Jul 21, 2020 at 18:06 | Irina Slav

Haps of unpaid debt, unsympathetic banks and investors, slow oil demand, and looming bankruptcies: this is the landscape in U.S. shale oil right now.  Most forecasts…

Russia Delivers First Arctic Oil To Key Ally China

Jul 21, 2020 at 17:54 | Simon Watkins

Ensuring a leading position in the exploration and development of the Arctic’s huge gas deposits has long been a key part of President Vladimir Putin’s overall vision to project the…

China’s Oil Buying Spree May Be Coming To An End

Jul 21, 2020 at 16:05 | Tsvetana Paraskova

While the rest of the world continues to struggle with fuel demand recovery in fits and starts, China has been a key factor in supporting oil prices as…

Oil Prices Hit Four-Month High On Vaccine Hopes

Jul 21, 2020 at 11:06 | Tsvetana Paraskova

Oil prices surged early on Tuesday to their highest level since Saudi Arabia and Russia broke up the OPEC+ pact in early March, thanks to promising results in a coronavirus…

$40 Oil Isn’t Enough For Saudi Arabia

Jul 21, 2020 at 09:04 | Yousef Alshammari

Despite the recommendation of the OPEC+ JMMC to ease the oil output cuts by 2 million bbl/d, oil markets maintained their bullish sentiment over the past week as Brent was…

Iran Could Flood Oil Markets If Biden Becomes U.S. President

Jul 20, 2020 at 17:47 | Tsvetana Paraskova

If presumptive Democratic candidate Joe Biden wins the presidential election in November, Iran could suddenly turn from a bullish driver for oil prices into a bearish factor if…

Where Will Bakken Oil Go When Pipelines Run Dry?

Jul 20, 2020 at 15:58 | Haley Zaremba

The Dakota Access Pipeline is currently mired in a legal battle that has no definitive end in sight. Earlier this month, the extremely divisive pipeline that has been…

Mexico's Pemex Scrambles To Save Itself From Oil Price Crash

Jul 20, 2020 at 13:42 | Alex Kimani

The majority of the world’s oil producers have been racing to heavily cut back spending and production in response to the oil market crisis, while Mexico’s national oil…

U.S. Fracking Services Pioneer Files For Bankruptcy

Jul 20, 2020 at 12:56 | Charles Kennedy

The low oil prices and drastically reduced fracking activity in North America claimed another victim as oilfield services provider BJ Services filed on Monday for Chapter 11 bankruptcy protection.…

EIA: Oil Demand To Hit Pre-COVID Levels In 2021

Jul 20, 2020 at 10:59 | Tsvetana Paraskova

U.S. demand for petroleum and liquid fuels is expected to remain below the 2019 average from before the COVID-crisis until August 2021, despite the uptick in consumption in recent weeks,…

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