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Energy / Crude Oil

The Bakken Gets A Second Wind

Mar 10, 2017 at 11:45 | Ron Patterson

North Dakota has published January production data for the Bakken and for all North Dakota. (Click to enlarge)Bakken…

Iran And Iraq To Ramp Up Oil Production Despite OPEC Cuts

Mar 09, 2017 at 17:54 | Rakesh Upadhyay

Though OPEC has managed to achieve a high standard of compliance, it has mostly been due to the oversized cut by the largest member of the group—Saudi Arabia. Meanwhile,…

U.S. Refiners Look Abroad As Domestic Competition Increases

Mar 09, 2017 at 15:01 | Irina Slav

U.S. oil refiners are going global. That’s the message that has been coming from the industry over the past year when a lot of refining capacity abroad was shut down…

Harold Hamm: U.S. Shale Spending Binge Could Destroy Oil Market

Mar 09, 2017 at 10:35 | Tsvetana Paraskova

In a rather unconventional warning, Continental Resources chief executive Harold Hamm said on Wednesday that should the U.S. oil industry embark on another spending spree, it could “kill” the market.…

Shell Sells Almost All Canadian Oil Sands Assets

Mar 09, 2017 at 09:30 | Irina Slav

Shell has struck a deal to sell all its oil sands production assets in Canada, except for a 10-percent stake in the Athabasca Oil Sands Project, as part of…

This Mysterious Oil Company Just Got A License To Drill In Crimea

Mar 08, 2017 at 16:57 | Irina Slav

A mysterious company called Novye Proekty has been awarded an oil and gas exploration license for the Crimean Black Sea shelf, and the Kremlin’s spokesman is directing questions about…

Can U.S. Shale Fight Off Rising Costs?

Mar 08, 2017 at 16:56 | Nick Cunningham

Shale drilling has become a lot cheaper over the past three years, with new drilling techniques, efficiency gains and learning-by-doing helping to lower breakeven costs. The IEA says that U.S.…

Is This Argentinian Shale Play The Next Permian?

Mar 08, 2017 at 16:28 | Viktor Katona

Having inked a $300 million investment deal with the Argentinian YPF, Shell reiterated its claim to join the ranks of the various oil & gas majors engaged in tapping the…

Saudi Arabia’s Secret Meetings With The World’s Largest Oil Traders

Mar 08, 2017 at 14:18 | ZeroHedge

Something unprecedented happened last November when OPEC sat down in Vienna to hammer out the final terms of its oil production cut deal (which, incidentally, has yet to translate into…

Strong Gasoline Draw Sees Oil Prices Spike

Mar 08, 2017 at 09:56 | Irina Slav

The Energy Information Administration reported a build of 8.2 million barrels in commercial crude oil stockpiles for the week to March 2, a day after the American Petroleum Institute…

Iraq To Start Drilling In Highly Contested Persian Gulf

Mar 07, 2017 at 16:17 | Zainab Calcuttawala

Iraq will be using offshore oil and gas production ventures to boost the war-torn country’s energy reserves, Oil Minister Jabar al-Luaibi’s comments told the press last week, setting off…

Oil And Gas IPOs Return Amid Oil Price Recovery

Mar 06, 2017 at 15:18 | Tsvetana Paraskova

The oil price crash has left energy companies scrambling to shore up balance sheets and streamline costs. But the recent recovery of crude prices has instilled cautious confidence among oil…

Kuwait To Focus On Downstream To Boost Economy

Mar 03, 2017 at 13:35 | Oxford Business Group

Kuwait’s latest budget will focus capital expenditure on downstream oil and gas activities during FY 2017/18 in a bid to create jobs, offset falling crude export revenue and capitalise on…

Oil Rig Count Hits A 17-Month High

Mar 03, 2017 at 12:38 | Julianne Geiger

The number of active oil and gas rigs in the United States increased on Friday by 2. Both benchmarks were trading up earlier on Friday on reports of an evacuation…

Saudis Cut Light Crude Prices To Asia To Keep Market Share

Mar 03, 2017 at 09:24 | Tsvetana Paraskova

Faced with a persisting oversupply and trying to keep its market share amid production cuts intact, Saudi Arabia has unexpectedly lowered the April price for the light crude it sells…

Doomsday Scenario: A World Without Oil

Mar 02, 2017 at 16:56 | Zainab Calcuttawala

Suppose the rapture happened. Not the kind followed by the Second Coming of Jesus as promised by Paul, but a rapture of oil. Imagine that one night, just after the…

Despite Promises To Cut, Iraq Raises February Oil Exports

Mar 02, 2017 at 09:54 | Irina Slav

Crude oil exports from Iraq went up by 1 percent to 3.85 million barrels daily in February, despite the OPEC oil production cut that has seen Saudi Arabia and other…

Why Investors Should Beware Of The Bakken

Mar 01, 2017 at 16:27 | Arthur Berman

It’s the beginning of the end for the Bakken Shale play. The decline in Bakken oil production that started in January 2015 is probably not reversible. New well performance has…

South Africa: The Next Hot Spot For Offshore Oil Exploration

Mar 01, 2017 at 14:20 | Tsvetana Paraskova

South Africa’s land is known for its resources such as platinum, gold, diamonds, copper and coal. But its waters may be hiding future giant oil and gas discoveries potentially capable…

Panic In Vienna: OPEC Needs To Bring Down Costs To Compete With U.S. Shale

Mar 01, 2017 at 11:49 | Irina Slav

Nigeria’s Oil Minister Emmanuel Ibe Kachikwu said that OPEC producers need to lower their production costs if they want to be able to compete effectively with U.S. shale boomers,…

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