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Africa Is The Undeniable Final Frontier For Oil

Africa Is The Undeniable Final Frontier For Oil

The pandemic has been devastating…

Oil Tanker Industry Is In An Ocean Of Trouble

Oil Tanker Industry Is In An Ocean Of Trouble

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Energy / Crude Oil

Record Volumes Of Cheap U.S. Crude Oil Are Headed To Asia

Jul 28, 2020 at 14:26 | Tsvetana Paraskova

A record volume of U.S. crude oil is set to arrive in China and the rest of Asia this month as buyers rushed to snap up cheap oil earlier this…

Oil Markets Face New Glut As OPEC Prepares To Open The Taps

Jul 28, 2020 at 11:01 | Rystad Energy

The upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels, a Rystad Energy analysis reveals.…

OPEC May Have To Adapt To Lower-For-Longer Oil Demand

Jul 28, 2020 at 09:02 | Tsvetana Paraskova

OPEC is trying to come to terms with the idea that the coronavirus crisis may have brought with it permanent changes in consumer behavior, stifling oil demand over the next…

China Signs Series Of Deals To Develop Supergiant Oilfield In Iran

Jul 27, 2020 at 17:11 | Simon Watkins

Two key questions logically arise from last week’s announcement from Iran’s Petroleum Ministry that it has awarded a US$1.3 billion development deal to more than double oil production…

How One Oil Major Excelled As Prices Crashed

Jul 27, 2020 at 16:57 | Alex Kimani

When oil prices plunged to historic lows in April, the majority of oil producers, including OPEC+ nations, responded by drastically cutting production to get rid of the huge…

Microsoft And Halliburton Are Building The Oilfield Of The Future

Jul 27, 2020 at 15:51 | David Messler

The oilfield has historically been a place where brawny men, and mighty machines came together to bore holes deeply into the earth to wrest stores of oil and…

Jet Fuel Crisis Will Hurt Oil Demand For Years To Come

Jul 27, 2020 at 14:22 | Tsvetana Paraskova

A very slow recovery in jet fuel demand will drag on global oil demand for at least another two years as overall passenger traffic numbers continue to be…

Can Oil Save Ecuador’s Economy?

Jul 27, 2020 at 13:47 | Matthew Smith

For decades, oil rich Ecuador proved to be a risky and unprofitable jurisdiction for foreign companies seeking to tap its vast mineral wealth. This peaked with the $9.5…

Oil Prices In Limbo As Fears Of A Second COVID Wave Grow

Jul 27, 2020 at 11:13 | Yousef Alshammari

Oil markets sent some mixed signals last week as bullish and bearish data continued to influence prices. The COVID-19 situation in the United States raised some uncertainty over the prospects…

Trump Heads To Texas To Discuss U.S. Energy Dominance

Jul 27, 2020 at 09:00 | Irina Slav

President Donald Trump is visiting Texas this week, to raise money for the Republican Party and discuss the country’s energy-dominance agenda with the local oil industry. Trump’s energy agenda was one…

The Second Wave Of COVID Won’t Crush Oil Markets

Jul 24, 2020 at 17:58 | Rystad Energy

As Covid-19 infections continue to increase around the world and the implications of the pandemic’s spread are acknowledged in key markets in the Americas and Asia, Rystad Energy…

Big Oil Braces For Brutal Earnings Season

Jul 24, 2020 at 17:49 | Nick Cunningham

The oil majors are set to unveil their second-quarter earnings in the coming days, and analysts expect the figures to be pretty rough. Despite their size, the integrated…

Brazil’s Oil Giant To Boost Production At Deepwater Field

Jul 24, 2020 at 16:42 | Charles Kennedy

Brazil’s state-held oil firm Petrobras launched on Friday a tender for three new Floating Production Storage and Offloading (FPSOs) units for one of the largest deepwater oilfields in the world, Búzios,…

Is The Bottom Finally In Sight For U.S. Drilling Rigs?

Jul 24, 2020 at 12:22 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 2, to 251, marking the twentieth straight loss in…

Tropical Storm Hanna Threatens Texas Oil Industry

Jul 24, 2020 at 10:59 | Tsvetana Paraskova

Tropical storm Hanna is expected to make landfall in Texas on Saturday with heavy rains that could result in flash flooding along the Texas coast, where oil refineries and LNG…

Oil Traders Discount Crude As Chinese Demand Weakens

Jul 24, 2020 at 09:08 | Irina Slav

Oil producers such as Iraq, Russia, and the UAE are lowering their crude oil prices to make it salable as demand from Asian buyers remains lukewarm, Bloomberg reports, citing traders.…

The Quiet Destruction Of Colombia’s Shale Oil Potential

Jul 23, 2020 at 14:56 | Matthew Smith

Sharply weaker oil prices, falling investment and dwindling oil production are weighing heavily on Colombia’s economic outlook. Last decade, the strife-torn Andean country bet its economic future on…

Is This The World’s Riskiest Oil Frontier?

Jul 23, 2020 at 12:04 | Viktor Katona

Somalia’s government has announced that it would hold its first-ever offshore licensing round this August, marking the starting point of Africa’s perhaps most adventurous oil frontiers. Still recovering from the…

Permian Leads Recovery As Frackers Ramp Up Activity After Oil Crash

Jul 23, 2020 at 11:05 | Rystad Energy

The Covid-19 downturn has caused a shocking decline in new fracking operations in the US, with monthly numbers plunging to a bottom of just 325 wells in June. A Rystad…

U.S. Shale Output Set For Another Slide As New Well Drilling Stalls

Jul 23, 2020 at 10:14 | Tsvetana Paraskova

Despite the fact that U.S. shale producers have brought back a quarter of the output they had curtailed, production is set for a new slump after the summer as new…

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