• 3 days The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 2 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 3 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 14 hours "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days Demonising fossil fuels has caused major grid problem in Australia
  • 4 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 6 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 330 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 8 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others
  • 9 days "And this is perhaps the most dangerous kind of government there can be."
Why Chinese Imports Of U.S. LNG Collapsed

Why Chinese Imports Of U.S. LNG Collapsed

Chinese imports of LNG from…

The Rise Of Robots In The Oil And Gas Industry

The Rise Of Robots In The Oil And Gas Industry

Robots are expected to play…

Editorial Dept

Editorial Dept

More Info

Premium Content

The End Of Growth For U.S. Shale

1. Exxon’s sharp CAPEX cuts

- ExxonMobil (NYSE: XOM) announced plans to cut its CAPEX down to $20-$25 billion annually, lopping off $10 billion from what the company said in March at the onset of the pandemic.

- In terms of spending growth, the new outlook amounts to a contraction next year and a very modest increase in spending thereafter.

- The spending plan amounts to a new strategy for the oil major, which had been stubbornly sticking to aggressive growth plans despite strategy overhauls taking place at some of its top competitors.

- Spending across seven large independent oil companies and six national oil companies will drop by $23.8 billion this year and by another $6.77 billion next year, according to Bloomberg.

- Translating those cuts to production levels, output could be 9 mb/d lower in 2025 than otherwise would have been the case.

2. Peak in ICE vehicles already reached?

- The possibility that the world has passed peak oil demand has become a mainstream argument, even if it isn’t the consensus. Among others, BP (NYSE: BP) argues that we are past the peak.

- One of the main reasons is that we are already likely passed the peak for the internal-combustion engine.

- Car sales fell sharply this year, but sales of EVs held up better. Volkswagen and Daimler each saw record declines in auto sales, but their EV sales doubled.

- Next year, automakers will release 35 new all-electric models.

-…





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