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Energy / Crude Oil

Importing Nations Feel the Squeeze as Global Oil Exports Steadily Decline

Sep 24, 2012 at 17:15 | Kurt Cobb

It is with trepidation that independent petroleum geologist Jeffrey Brown has watched global oil exports decline since 2006. With all the controversy in the past several years over whether worldwide…

Big Oil Funding U.S. Politics

Sep 21, 2012 at 17:58 | Daniel J. Graeber

U.S. Rep. John Boehner, speaker of the House of Representatives, received nearly twice as much financial support from donors tied to the energy sector than did the next-closest recipient, a…

Oil Markets May be a Matter of Opinion

Sep 19, 2012 at 16:59 | Daniel J. Graeber

Crude oil prices this week declined after the government of Saudi Arabia announced plans to ensure market stability. Oil prices on average continued their decline toward levels not seen since…

Why Unconventional Oil Will Never Provide the Volumes that we Hope For

Sep 19, 2012 at 16:46 | Kurt Cobb

In the old days, that is before 2010, the oil industry used to regale the public with tales of plenty that revolved around what is commonly called "conventional oil." Conventional…

Bulls Running for Canadian Crude

Sep 10, 2012 at 18:00 | Daniel J. Graeber

The top administrator at the Bank of Canada last week said high oil prices were good for the national economy. Crude oil prices were mixed in early trading this week…

OPEC has Probably Deceived Us About the Size of its Oil Reserves

Sep 10, 2012 at 17:58 | Kurt Cobb

Has OPEC misled us about the size of its oil reserves? The short answer is probably. The long answer is that currently, there is no way to know for sure.

The Implications of Saudi Arabia becoming a Net Oil Importer

Sep 10, 2012 at 17:46 | Ian Nunn

Ambrose Evans-Pritchard, wrote last week in The Telegraph, Saudi oil well dries up. He presented the following chart of projected Saudi oil consumption, vertical bars, and production, dark blue…

Big Oil 1 - 0 Environment: Shell Granted Permit to Work off Alaskan Coast

Sep 05, 2012 at 17:42 | Daniel J. Graeber

Environmental groups concerned about the potential damage to the Arctic environment suffered another blow after the U.S. Environmental Protection Agency granted a temporary air permit for Shell to work off…

5 Oligarchs Taking the World by Storm

Sep 04, 2012 at 17:57 | Charles Kennedy

Oligarchs are the wealthy few who benefit from the government and for all intents and purposes call the shots behind the scenes. Oilprice.com considers five key oligarchs and oligarch families…

"Prophets of Doom" Cloud Kenyan Oil Prospects

Aug 30, 2012 at 20:39 | Daniel J. Graeber

The top foreign policy chief for the European Union met this week in Nairobi with Kenyan leaders. The country is a key Western ally in ongoing efforts to bring stability…

Colombia Oil: Is It Time To Invest in this South American Comeback Story?

Aug 29, 2012 at 16:40 | Keith Schaefer

Investors – particularly Canadians – may recall Colombia as one of the hottest oil plays in the world.That was just a few years ago. Huge wells in these…

Chavez Plans to Double Venezuelan Oil Output to 6 Million bpd by 2019

Aug 27, 2012 at 16:03 | John Daly

Even the detractors of Venezuelan President Hugo Chavez have never accused him of thinking small. Chavez is currently running for re-election in Venezuela’s upcoming presidential election, scheduled for 7 October,…

Dipping into US Strategic Oil Reserves: A Speculator's Bonanza

Aug 24, 2012 at 15:19 | Charles Kennedy

The White House is keeping the rumor-mill afloat with hints that it may draw from US strategic oil and petroleum reserves, watching the market respond on the speculation with a…

Turkey's Genel Energy Takes Gamble in Iraq

Aug 23, 2012 at 15:02 | Daniel J. Graeber

The top executive at Turkish company Genel Energy announced a deal with Heritage Oil increased its stake in the Miran exploration block in the Kurdish north of Iraq. The block…

The Oil Sector has Been Pushed to the Limit of its Capabilities

Aug 23, 2012 at 14:33 | The Oil Drum

Leonardo Maugeri’s recent paper Oil: The Next Revolution on the presumed future abundance of oil supplies rejects the pessimistic outlook of limited increases in oil capacity over the next decade.…

Venezuela Ramps up China Oil Exports Unsettling Washington

Aug 21, 2012 at 17:17 | John Daly

The biggest geostrategic change of the past decade overlooked by Washington policy wonks in their fixation on their self-proclaimed “war on terror” is that Latin America has been throwing off…

New Layers to Canada's Oil Sand Debate

Aug 21, 2012 at 17:09 | Daniel J. Graeber

A newspaper publisher in the Canadian province of British Columbia announced plans for a refinery that would process crude oil expected from the Northern Gateway pipeline.  Canadian pipeline company Enbridge…

New Indian Oil Find - Major Discovery, or Puddle?

Aug 17, 2012 at 17:30 | John Daly

According to the U.S. government’s Energy Information Agency, “In 2009, India was the fourth largest energy consumer in the world, after the United States, China, and Russia. Despite a…

USGS Assesses the Growth of Conventional Oil Reserves in the US

Aug 17, 2012 at 17:20 | Environmental News Network

The United States Geological Survey (USGS) is charged with the cataloguing an assessment of land formations and mineral reserves in the United States. They have recently assessed the potential additions…

Kazakhstan to Solidify Caspian Energy Role

Aug 16, 2012 at 17:42 | Daniel J. Graeber

Kazakhstan is expected to start making deliveries from its giant Kashagan oil field by the middle of next year. The state-controlled consortium managing the field set a production benchmark of…

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