• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
Could The U.S. Become Lithium Independent?

Could The U.S. Become Lithium Independent?

Despite having some of the…

The AI Revolution Has a Problem: Energy

The AI Revolution Has a Problem: Energy

On the one hand, artificial…

Editorial Dept

Editorial Dept

More Info

Premium Content

Is Aramco Really Worth $2 Trillion?

Saudi Arabia

Market Movers

- Saudi Aramco hit $2 trillion on its second day of trading Thursday, but let’s not get overly excited. Yes, it’s bigger than Apple, technically, but it’s a lot of smoke and mirrors at this point. Aramco saw shares rise 10% at the open, but then pared gains minutes later. That $2 trillion valuation didn’t exactly come about naturally. It took a lot of back-door pleading with GCC friends to get it there; and at home, it took a lot of subtle threatening and shifting of shares between SABIC and Aramco.

- The Tullow share dive this week (LON: TLW and OTCMKTS: TUWOY), which was near 50%, was a painful reminder that it really is make or break for the offshore oil industry. It has had a difficult year, with problems in Ghana, Kenya, and Uganda, and its recent find off the coast of Guyana was a major disappointment: it struck heavy oil—a product that has questionable commercial viability. The oil company earlier this year tried to dump its Uganda assets—and failed—leaving the company with a high debt load of $2.9 billion and no cash for investments. Then more recently, in a disastrous move, Tullow revised its 2020 production outlook downward. After the Guyana disappointment, Tullow scrapped its dividend and promptly ousted critical senior management.

Discovery & Development

- Mexican state oil company Pemex announced that it has discovered a huge oil deposit in Tabasco that could yield 500 million…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News