• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 21 mins The Debate Starts : Remake Republican Party vs. Third Party
  • 2 hours Joe Biden's Presidency
  • 13 mins An exciting development in EV Aviation: Volocopter
  • 4 mins The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 1 day Did I Miss Something?
  • 42 mins Biden's National Security Director vows to release report on Kadhoggi murder. Is it time to add to Brent futures long position ?
  • 3 hours https://www.prageru.com/video/whats-wrong-with-wind-and-solar/
  • 24 hours JACK MA versus Xi Jinping
  • 37 mins Investments worthy in versatile and clean natural gas
  • 2 days A Message from President Donald J. Trump - 5 minutes from The White House directly
U.S. Oil Product Demand Is Set For A Biden Boost In 2021

U.S. Oil Product Demand Is Set For A Biden Boost In 2021

After a devastating 2020, Rystad…

Canada Is Cleaning Up Its Oil Sands

Canada Is Cleaning Up Its Oil Sands

Canada’s oil sands have long…

Editorial Dept

Editorial Dept

More Info

Premium Content

Is Aramco Really Worth $2 Trillion?

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




Oilprice - The No. 1 Source for Oil & Energy News