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Energy / Crude Oil

OPEC's View of the World Oil Market

May 23, 2012 at 17:29 | Dave Summers

It is interesting to read the viewpoint of OPEC each month, as it relates to global oil supply, and the numbers that they rely on to estimate how much…

No One Can Afford Another Round of Iran Sanctions

May 21, 2012 at 14:21 | Charles Kennedy

As Iran and the P5+1 prepare to meet in Baghdad on 23 May for the next round of nuclear talks, Europe should be seriously considering the implications of its planned…

India Decides to Invest in the Oil Potential of the Falklands

May 16, 2012 at 18:17 | John Daly

Britain and Argentina have been feuding over the sovereignty of the Falkland Islands for 180 years, and 1982 fought a brief but vicious war over them.Much has changed…

Libya: A Real World Syriana

May 14, 2012 at 22:38 | Daniel J. Graeber

A curtain is slowly getting drawn back on the death of Shokri Ghanem, the former head of the Libyan oil industry found floating in the Danube River last month. Rumors…

New IMF Model is Far More Accurate at Predicting Oil Production

May 11, 2012 at 17:18 | Gail Tverberg

The International Monetary Fund (IMF) recently issued a new working paper called “The Future of Oil: Geology versus Technology” (free PDF), which should be of interest to people who…

Attack on Iran's Oil Industry Ups Cyber Warfare Stakes

May 01, 2012 at 22:57 | Charles Kennedy

Stuxnet failed to cause enough damage to Iran’s nuclear program, and more recent attacks on the country’s science ministry and oil industry have also apparently fallen flat, but practice makes…

Stung by the Keystone XL Debacle, Canada Looks Eastwards

Apr 20, 2012 at 07:33 | John Daly

Given that the Keystone XL pipeline is apparently dead in the water at least until after the next presidential election, Canada is seeking new export markets in Asia for its…

Why the US is Not About to Become an Oil Exporter

Apr 18, 2012 at 17:26 | Gail Tverberg

Countries trade crude oil and oil products back and forth. When all of these transactions are netted out, is the US close to becoming a “net” oil exporter? With the…

What the EIA's World Oil Production Data for 2011 Tells Us About 2012

Apr 12, 2012 at 17:15 | Gail Tverberg

The US Energy Information Administration (EIA) recently released full-year 2011 world oil production data. In this post, I would like show some graphs of recent data, and provide some…

Chechnya Courts Azerbaijan after Fallout with Russian Oil Giant

Apr 12, 2012 at 16:58 | Charles Kennedy

As the license for Russia’s state-own oil giant Rosneft to explore war-torn Chechnya’s hydrocarbon reserves is set to expire, Azerbaijan is invited to consider the contract as Chechen leader Ramzan…

Kenya Must Get it Right With Oil

Apr 11, 2012 at 17:08 | Daniel J. Graeber

Last month, Kenya declared that oil was discovered off its coast for the first time. Nairobi expects explorers to invest at least $40 million in the country and dozens of…

What Happens if Iran Doesn't Back Down?

Apr 05, 2012 at 17:11 | James Hamilton

If an embargo is successful in preventing Iran from selling a significant amount of oil on the world market, what would replace it? On Friday the White House released…

Why the US Cannot Extract Most of its Oil Reserves

Apr 04, 2012 at 17:14 | The Oil Drum

People are often confused about the overall extent of U.S. oil reserves. Some claim that the U.S. has hundreds of billions or even trillions of barrels of oil waiting to…

In Major Policy shift, Turkey to Buy Libyan Crude to Replace Iranian

Apr 03, 2012 at 17:38 | John Daly

Washington’s attempts to corral recalcitrant nations to support increased sanctions on Iran by boycotting their oil exports have seen a number of countries effectively ignore the U.S. pleas, including China…

FARC Steps Up Attacks on Colombian Energy Infrastructure

Apr 02, 2012 at 17:12 | Charles Kennedy

After a lull since 2008, the Revolutionary Armed Forces of Colombia have resumed attacks on Colombia’s oil infrastructure, launched 14 attacks this year alone on a major pipeline run by…

A New Industry to be Born from the End of North Sea Oil

Mar 29, 2012 at 18:23 | Stuart Burns

It may be small by global standards, but Britain’s oil and gas industry has far greater significance than its size suggests. Apart from providing a global oil price benchmark —…

South Sudan Runs out of Time for Oil Transit Alternatives

Mar 28, 2012 at 18:37 | Charles Kennedy

Ongoing border and oil disputes and the halting of oil production by South Sudan has led to renewed clashes between Khartoum and Juba, the specter of another war and the…

Did Libya's Oil Bubble Burst Already?

Mar 28, 2012 at 18:32 | Daniel J. Graeber

Libyan crude oil production has witnessed a notable uptick since major combat operations ended last year. In mid-2011, at the height of the international conflict, it looked as if the…

New Oil Sands Pipeline is More Carbon Friendly than Shipping

Mar 28, 2012 at 18:14 | Brian Westenhaus

It didn’t take long for the oil industry to go to Plan B to get the massive new supplies of Bakken Formation oil in North Dakota and the Canadian…

Kenya Strikes Oil: New Regional Potential and Security Concerns

Mar 27, 2012 at 18:04 | Charles Kennedy

Kenya has announced its first oil discovery and is already discussing plans for the drilling of four exploratory wells this year in a development that portends a new future for…

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