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Energy / Energy-General

Libya's Oil Blockade Will Help Clear The Global Supply Glut

Aug 07, 2020 at 16:11 | Charles Kennedy

Libya's port blockade is set to keep the North African country's oil off the market until at least the fourth quarter of 2020, which, as devastating as it will be…

Alberta Missed Its Chance To Mint A Province Of Oil Millionaires

Aug 07, 2020 at 13:57 | Alex Kimani

Back in 2014, every citizen in oil-rich Norway became a theoretical millionaire after the country's oil fund - the world's largest sovereign wealth fund - crossed the $1…

Are Oil Majors Giving Up On Guyana?

Aug 07, 2020 at 13:57 | Viktor Katona

Guyana has become one of the main upstream stars of the past decade, rising from zero to hero in less than 5 years. Much of Guyana’s rise to…

Weak Oil Demand Could Spark Another Market Share Showdown

Aug 07, 2020 at 13:48 | Tsvetana Paraskova

Saudi Arabia, the world’s top oil exporter and the main force behind the OPEC+ production cuts, faces a too familiar dilemma just four months into the new collective…

Massive Losses Force Glencore To Slash Dividends

Aug 07, 2020 at 13:17 | MINING.com

Miner and commodities trader giant Glencore (LON: GLEN) posted a $2.6 billion loss for the first half of the year and scrapped its…

COVID Fears Cause Oil To Fall Back After A Brief Rally

Aug 07, 2020 at 12:40 | Tom Kool

Oil spiked on a larger than expected inventory draw this week, but fears of a second wave of COVID have caused crude prices to retreatFor Global Energy Alert…

U.S. Oil Rig Count Falls To Lowest Level Since 2009

Aug 07, 2020 at 12:17 | Julianne Geiger

Baker Hughes reported on Friday that the combined oil and gas rig count in the U.S. fell this week by 4, to 247. The total oil and gas rigs are…

COVID Fears Drive Oil Prices Downwards

Aug 07, 2020 at 11:39 | Editorial Dept

U.S. West Texas Intermediate crude oil futures are trading lower on Friday but in a position to close out the week with a small gain after hitting a multi-month high…

Shale Productivity Is Reaching Its Limit

Aug 07, 2020 at 11:39 | Editorial Dept

1. Gold prices surge- Gold hit a new high this week, closing over $2,000 per…

A Unique Oil And Gas Earnings Season

Aug 07, 2020 at 11:37 | Editorial Dept

COVID Market Update The oil and gas market’s appetite is now shifting. As dismal Q2 financials flood in, lowered market expectations is seeing disastrous quarterlies as bad, and bad quarterlies…

Explaining Saudi Arabia’s Oil Price Drop

Aug 07, 2020 at 11:34 | Editorial Dept

Usually, when Saudi Arabia issues its official selling prices (OSPs) for the upcoming month, all the Middle Eastern crude exporters take notice and follow suit. Yet what happens if the…

A Worrying Sign For Two Major Oil Hotspots

Aug 07, 2020 at 11:33 | Editorial Dept

Active Rigs Fall to Zero in Two Oil Hotspots In the latest sign of the times, and what very well may be an indicator of things to come,…

Big Oil Has Spent Nearly A Billion Dollars On Trump's Reelection

Aug 07, 2020 at 10:20 | Tsvetana Paraskova

The oil and gas industry is overwhelmingly backing U.S. pro-oil President Donald Trump for the 2020 presidential election, compared to the presumptive Democratic candidate Joe Biden, data from the Center…

Oil Prices Could Break $50 In 2021

Aug 07, 2020 at 09:57 | Tsvetana Paraskova

Brent Crude prices are set to average $42.35 a barrel this year and $49.25 per barrel in 2021, according to IHS Markit’s latest price forecast, which was raised by…

Cobalt Price Squeeze Could Derail The EV Boom

Aug 06, 2020 at 17:00 | Alex Kimani

Electric vehicle investors and enthusiasts tend to obsess about a single metric--EV sales--when trying to gauge the pace of global electrification. However, they tend to ignore another equally…

Big Oil’s Most Profitable Business Is No Longer Oil

Aug 06, 2020 at 16:04 | Haley Zaremba

It’s been a rough year for oil, to say that least. And the worst isn’t over yet. Even though oil demand, and therefore oil prices, have been slowly…

Demand For Offshore Oil Rigs To Return In 2022

Aug 06, 2020 at 12:54 | Tsvetana Paraskova

Demand for offshore rigs will slump this year as a result of the pandemic and the low oil prices that are forcing offshore operators to delay drilling activities, but the…

Leaked: China Quietly Helped Saudi Arabia Build A Secret Nuclear Site

Aug 06, 2020 at 12:09 | ZeroHedge

When it comes to America's allies in the Middle East, Washington has long "looked the other way" while they recklessly pursue questionable weapons technology. Think Pakistan's nuclear program at a…

Iraq Promises Major Oil Output Cuts To Offset Poor Compliance

Aug 06, 2020 at 11:00 | Tsvetana Paraskova

OPEC’s second-largest producer, Iraq, is promising additional cuts of around 400,000 barrels per day (bpd) this month in order to compensate for the lack of compliance with the OPEC+ agreement…

Rig Count In Cowboy State Falls To Zero

Aug 06, 2020 at 09:09 | Irina Slav

The last active drilling rig in Wyoming was idled yesterday, leaving the state with no operating rigs for only the second time in its oil and gas history. The AP…

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