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Energy / Crude Oil

The Might of the Petro-Dollars at Work Once Again

Oct 15, 2013 at 17:11 | Claude Salhani

Petro-dollars, the word used to describe the billions of dollars earned from the sale of oil and natural gas, have helped change the shape and future of many counties in…

Our Reliance on Oil Continues to Threaten our Future

Oct 11, 2013 at 21:47 | Gail Tverberg

If a person reads US newspapers, it is easy to get the impression that all of the world’s oil problems are over. But this is not really the case.

Venezuela’s PDVSA Drowns in Transport Costs

Oct 11, 2013 at 16:10 | Editorial Dept

Bottom line: Transport costs are a sieve winnowing away Pdvsa’s profits and a recent investigation appears to show that at least three ships commissioned and inaugurated in public ceremonies by…

How Iran Plays the Oil Game … and Wins

Oct 04, 2013 at 18:28 | Daniel J. Graeber

Instability in Libya and other parts of North Africa may be giving international investors the jitters.  In August, U.S. energy explorer Apache Corp. said it had enough of the political…

Brazilian Policies Scare off Oil Majors

Oct 04, 2013 at 18:22 | John Daly

First, the good news.Later this month, on at a 21 October auction, Brazil will sell off leases in its massive Libra southern Atlantic offshore oil field, with high…

Iranian Crude may be Vital as Global Producers Fail to Meet Targets

Oct 03, 2013 at 17:00 | Dave Summers

There has been considerable comment this week over the telephone call between President Obama and the President Rouhani of Iran. Certainly the election of a new President in Iran…

Record Oil Outputs in Saudi Arabia Fail to Ease Shortage Anxiety

Oct 01, 2013 at 19:15 | Global Risk Insights

Saudi Arabia, along with OPEC neighbors Kuwait and the United Arab Emirates, exported a record high of crude oil this August. Despite pumping out 10.2 million barrels per day, the…

Shell Abandons 800 Billion Barrel Deposit, Beaten by the Regions Geology

Oct 01, 2013 at 19:12 | Kurt Cobb

The belief that technology can always overcome natural limits just took a big hit this week when Royal Dutch Shell PLC decided to shut down its pilot oil shale…

Canada to Drill for Offshore North Atlantic Oil

Oct 01, 2013 at 19:01 | John Daly

First, the good news.Canada’s Calgary-based Husky Energy Inc. and its Norwegian partner Statoil ASA announced a major oil discovery in offshore Newfoundland and Labrador Flemish Pass Basin.

Big Oil Moves North Despite Climate Woes

Sep 28, 2013 at 12:17 | Daniel J. Graeber

The Intergovernmental Panel on Climate Change said Friday the sea ice in the arctic has melted at a rate of at least 9 percent per decade since the late 1970s.…

Canadian Oil Could Soon Head West by Rail

Sep 26, 2013 at 20:14 | Rory Johnston

CN Rail, Nexen, and Ottawa are considering plans to ship Albertan oil to the West Coast of Canada by train, according to new documents obtained by Greenpeace Canada under…

1.5 Billion Barrels of Oil – And No Takers

Sep 25, 2013 at 19:11 | John Daly

Western energy firms are noted for venturing into volatile regions and areas that scare off more faint-hearted capitalists. But one country is even giving these hardened energy companies…

Peak Oil Demand: Peak Oil Didn’t Go Away, it Just Changed its Name

Sep 25, 2013 at 18:57 | Post Carbon

A new phrase has entered our energy lexicon—peak oil demand. The essential idea: prophets of doom who warned about a looming global petroleum shortfall (“peak oil”) were wrong; instead…

Where's the Next Play for the Giants of Oil?

Sep 20, 2013 at 17:23 | Editorial Dept

What will they do with all that cash?That’s the question investors are asking of major oil firms like Apache (NYSE: APA). The company recently completed a…

Libya: The Fate of Oil under an Impotent Government

Sep 20, 2013 at 17:16 | Editorial Dept

As all attention is focused on Syria, and wondering how oil prices might respond to a US strike, where oil is concerned the focus should be on Iraq, which is…

China Buys $5 Billion Share in Kazakhstan’s Kashagan Caspian Field

Sep 18, 2013 at 18:08 | John Daly

One of the greatest overlooked stories of the past two decades is China’s slow economic penetration of the former Soviet Central Asian states. Chinese President Xi Jinping, visiting Kazakhstan on…

Nigeria becoming World’s 1st Failed Petrostate?

Sep 09, 2013 at 17:47 | John Daly

If it is not common for insurgencies to telegraph their intentions in advance, as it can provide defenders with valuable early intelligence, then Nigeria’s Movement for the Emancipation of the…

How Events in Syria Affect the Global Oil Markets

Sep 09, 2013 at 17:39 | James Hamilton

The growing likelihood [1], [2], [3] of U.S. military action in Syria seems to be one factor in the recent sharp rise in oil prices.

Mali: Straight out of Conflict into Exploration

Sep 06, 2013 at 17:03 | Editorial Dept

Mali can barely be called “post-conflict”—despite the rhetoric following the conclusion of 11 August runoff elections—yet oil exploration deals are already being cut in the north. Indeed, they were being…

Looking for the Next Mega Oil Play

Sep 04, 2013 at 16:58 | Dave Forest

News came out last week that Apache is divesting a big chunk of its Egyptian oil acreage.The company will sell one-third of its rights there to Sinopec for…

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