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Oil Tanker Industry Is In An Ocean Of Trouble

Oil Tanker Industry Is In An Ocean Of Trouble

Vaccines are the only thing…

U.S. Shale Production Continues To Decline

U.S. Shale Production Continues To Decline

Crude oil production in the…

Energy / Crude Oil

South America Is Rapidly Becoming A Global Leader In Offshore Oil

Aug 18, 2020 at 12:12 | Rystad Energy

South America has made a cost-cutting leap since 2013, when it was the world’s most expensive region for deepwater oil and gas production costs. Average operational expenditure (opex) per barrel…

Petrobras Launches Development Of Major Deepwater Oil Field

Aug 18, 2020 at 09:10 | Irina Slav

Brazil’s state oil major Petrobras has launched a new phase in the development of the first deepwater oil project since the start of the crisis, at the Mero field in…

Is This The Beginning Of The End Of Oil & Gas Exploration?

Aug 17, 2020 at 17:40 | Alex Kimani

Booms and bust cycles are very much a part of investing in the fossil fuel sector. In previous energy downturns, prices frequently experienced serious slumps, but oil and gas companies…

Oil Prices Rebound As U.S. Inventories Dwindle

Aug 17, 2020 at 13:04 | Yousef Alshammari

Traders remain concerned about the increasing number of COVID-19 cases in many parts of the world including the United States, India and Brazil. The rise in infections continues to have…

OPEC+ Complied 95% With Oil Production Cuts In July

Aug 17, 2020 at 10:14 | Tsvetana Paraskova

The OPEC+ coalition saw its compliance rate with the oil production cuts at 95 percent in July, four sources from the group told Reuters on Monday, which is a…

U.S. Oil Drillers Look To Restart Shut-In Production This Year

Aug 14, 2020 at 17:18 | Rystad Energy

Most US onshore operators will restore nearly all shut-in oil volumes by the end of the third quarter, with only a handful maintaining some level of curtailment for…

Big Oil Wrote Down $87 Billion In Assets In Less Than One Year

Aug 14, 2020 at 10:04 | Tsvetana Paraskova

Seven of the largest oil companies in the world have written down a collective US$87 billion from the value of their oil and gas assets over the past nine months,…

President Trump Unveils “Historic” Israel-UAE Peace Plan

Aug 13, 2020 at 17:32 | ZeroHedge

President Trump just announced a "historic" deal that will see Israel and the UAE open full diplomatic relations and Israel suspend its annexation plans in the West Bank. The shock announcement Thursday marks…

Low Quality Crude Is Crushing Venezuelan Oil Exports

Aug 13, 2020 at 14:49 | Tsvetana Paraskova

Venezuela’s oil exports – which have dropped significantly over the past year because of the U.S. sanctions – are suffering another blow these days: the quality of the crude loaded…

Russia Doesn’t Expect OPEC+ To Change Course

Aug 13, 2020 at 09:57 | Tsvetana Paraskova

The OPEC+ panels will not be discussing next week any revisions of the ongoing production cut pact and are not expected to make any major decisions to tweak the deal,…

America Could Go Fully Electric Right Now

Aug 12, 2020 at 17:14 | Irina Slav

Complete electrification and close to 100 percent renewable energy generation: this is a vision of the United States 15 years from now. According to the visionaries, this objective…

Oilfield Service Companies Are Bailing On The Permian

Aug 12, 2020 at 13:29 | Haley Zaremba

The United States shale revolution didn’t just transform West Texas, and it didn’t just transform the energy sector, and it didn’t just transform the entire U.S. economy. It…

U.S. Oil Production To Fall More Than Expected This Year

Aug 12, 2020 at 11:02 | Julianne Geiger

U.S. crude oil production will drop by an average of 990,000 barrels per day, according to the Energy Information Administration, for an average of 11.26 million bpd. That is…

Oil Prices Leap Higher On Bullish Inventory Data

Aug 12, 2020 at 09:44 | Irina Slav

Crude oil prices got another lift today after the Energy Information Administration reported a crude oil inventory draw of 4.5 million barrels for the week to August 7. At…

OPEC Admits That 2020 Oil Demand Is Worse Than Expected

Aug 12, 2020 at 09:05 | Tsvetana Paraskova

Due to the coronavirus shock to the global economy, the world’s oil demand is expected to drop by 9.1 million barrels per day (bpd) in 2020 – a larger demand…

China To Expand Its Influence In The Middle East With Major Oil Deal

Aug 11, 2020 at 17:06 | Simon Watkins

China continues to expand its influence in the Middle East through oil and infrastructure deals, and the latest deal with ADNOC is a great example of how Beijing looks to…

Lull In Trading Keeps Oil Prices Range-Bound

Aug 11, 2020 at 13:19 | Irina Slav

A seasonal lull in oil trading has kept price movements largely range-bound recently, but this can still change this week as OPEC and the International Energy Agency are…

Iranian Oil Exports Much Higher Than Official Data Suggests

Aug 11, 2020 at 09:42 | Charles Kennedy

Iran is exporting a lot more crude oil than U.S. figures suggest, data from TankerTrackers.com has revealed, as reported by NBC News. According to the data, Iran is exporting…

OPEC’s No.2 Drags Down Output Cut Compliance Rate

Aug 10, 2020 at 17:16 | Julianne Geiger

Since the landmark deal that saw OPEC+ agree to cut nearly 10 million barrels per day of oil production to clear the global gut created by the coronavirus pandemic and…

Russia Looks To Lure Shell Into New Arctic Oil Project

Aug 10, 2020 at 15:56 | Simon Watkins

Central now to Russia’s hydrocarbons-related power is its Arctic sector oil and gas reserves. These comprise over 35,700 billion cubic metres of natural gas and over 2,300 million…

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