Several big oil executives at…
Per the latest weekly data…
The Organization of Petroleum Exporting Countries (OPEC) released its monthly oil market report on Thursday, and the news was enough to send WTI below $50 after…
Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being…
Two weeks before he held a vote to set up an assembly to re-write the constitution—further undermining democracy—Venezuelan President Nicolas Maduro hosted the signing of a contract with a small…
Protests continue to rage in Venezuela as inflation soars to unprecedented levels and the price of oil remains low. The country’s national currency is now worth less than fictional…
Much of my earlier career in intelligence was based on a simple assumption. It was the kind of approach the “craft” shares with a number of other pursuits. One expects…
The 2nd quarter reports from oil companies have been an eye-opener, in that they’ve confirmed to me everything I’ve been saying for months – oil companies are following a self-imposed…
The number of active oil and gas rigs in the United States fell this week by 5 rigs, but the amount of oil rigs increased as drillers in the United…
OPEC and its non-OPEC partners have not closed the door to the possibility of extending the production cut agreement or even lowering production levels, Saudi Oil Minister Khalid al-Falih
For much of the past three years, the oil majors have struggled to adapt to the new reality of low oil prices, while at the same time, their smaller and…
Amid stubbornly falling oil prices and growing doubts about OPEC’s ability to rein in production, the EIA reported a draw in U.S. commercial crude oil inventories of 6.5 million…
The Permian basin is starting to see decline rates from shale wells accelerate, a trend that could be the result of too much drilling. Shale wells suffer from steep decline…
Iraqi oil exports topped 100 million barrels in July, but that’s still lower than the 3.93 million barrels per day rate Baghdad boasted back in May. The latest…
Two years ago, Royal Dutch Shell gave up drilling in the Arctic. It came across a dry hole and decided the enormous risks and expense weren’t justified. Someone wasn’t listening.…
Back in December 2014, the start of the worst oil rout since the financial crisis claimed its first victim when 113 year old Phibro, then owned by Occidental Petroleum…
The number of active oil rigs in the United States fell this week by 1 rig as drillers in the United States proceed more cautiously than earlier in the…
The Nigerian government will make illicit refineries operating in the Niger Delta legal, and will even supply them with crude oil, the presidency announced yesterday. The legalization process will…
Oil is back at $50 per barrel, restoring some semblance of confidence in the market. But that is just about as much as we can expect in terms of a…
Gauging market sentiment before the 2018 Saudi Aramco IPO led Oil Minister Khalid al-Falih to personally meet with top hedge fund managers, according to a new report by Bloomberg.…
OPEC is struggling with a floundering oil market, few prospects of higher oil prices, competition from U.S. shale, and dissension within its own ranks. The supply/demand situation is improving, but…
The bankruptcy of a small Canadian oil and gas company in 2015 and the following creditor claims have created a legal dispute over who should pay for abandoned wells and…