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Energy / Crude Oil

Texas Needs 11,000 More Miles Of Pipelines

Texas Needs 11,000 More Miles Of Pipelines

Mar 26, 2019 at 10:24 | Irina Slav

Texas will need an additional 10,950 miles of oil and gas pipelines to accommodate rising production over the years to 2050, an IHS Markit study quoted by S&P Global…

Alberta’s Price-Correcting Plan Backfires

Alberta’s Price-Correcting Plan Backfires

Mar 25, 2019 at 18:05 | Irina Slav

When Alberta’s government announced obligatory oil production cuts last December, it was a desperate attempt to arrest a price slide of the local crude benchmark that had led to…

Schlumberger Won’t Take New Full-Oilfield Management Projects

Schlumberger Won’t Take New Full-Oilfield Management Projects

Mar 25, 2019 at 14:57 | Tsvetana Paraskova

Oilfield services provider Schlumberger will focus on monetizing existing full-field production management contracts in the near to medium term and will not undertake new such deals in the meantime, chairman…

What Norway’s Decision To Divest Means For US Shale

What Norway’s Decision To Divest Means For US Shale

Mar 22, 2019 at 18:15 | Tsvetana Paraskova

After months of deliberations, Norway’s government proposed in March that the country’s US$1-trillion fund—the world’s biggest sovereign wealth fund—divest from oil and gas exploration companies. The move by the…

India Stops Taking In Venezuelan Oil

India Stops Taking In Venezuelan Oil

Mar 22, 2019 at 10:20 | Irina Slav

A senior U.S. government official has told Indian media that private local refiners had stopped importing crude oil from Venezuela, noting the cooperation of Indian companies in this respect. "My…

Big Pivot In Energy Is Gaining Momentum

Big Pivot In Energy Is Gaining Momentum

Mar 21, 2019 at 18:28 | Nick Cunningham

For years, the oil and gas industry has boasted about the longevity and durability of oil and gas reserves despite growing signs that peak oil demand is around the corner.…

U.S. Didn’t Import Venezuelan Oil Last Week—For The First Time Ever

U.S. Didn’t Import Venezuelan Oil Last Week—For The First Time Ever

Mar 21, 2019 at 14:20 | Tsvetana Paraskova

The United States didn’t import any crude oil from Venezuela in the week to March 15, for the first time ever since the EIA began tracking weekly U.S. crude…

One Last Warning For The U.S. Shale Patch

One Last Warning For The U.S. Shale Patch

Mar 20, 2019 at 18:19 | Arthur Berman

Oil price lost 44% of its value late last year. That price collapse was a signal to tight oil companies to stop over-producing. The message will be repeated until action…

U.S. On The Hunt For Iranian “Ghost Tankers”

U.S. On The Hunt For Iranian “Ghost Tankers”

Mar 20, 2019 at 14:58 | Irina Slav

When Washington announced the return of economic sanctions against Iran, the main idea was pretty clear: cut exports of vital oil to zero to paralyze the economy and prompt…

Oilfield Services Might Not Fully Recover Till 2025

Oilfield Services Might Not Fully Recover Till 2025

Mar 19, 2019 at 13:03 | Rystad Energy

The global oilfield service sector’s recovery from the deepest trough it has ever encountered is not going to happen overnight. Not until 2025, 11 years after the last peak, are…

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