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Article Archive

The Catastrophic Environmental Consequences Of Russia’s Invasion Of Ukraine

Jun 28, 2022 at 11:24

In addition to thousands of deaths and the destruction of crucial infrastructure, another, more invisible, crisis tied to Russia’s invasion could haunt Ukraine for years: environmental damage. From shelled chemical…

Are Oil Prices Heading Back To $120?

Jun 28, 2022 at 11:12

Reader Update: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com's

Will Colombia’s New President Upend Its Oil Industry?

Jun 28, 2022 at 11:20

Leftist candidate Senator Gustavo Petro emerged victorious from Colombia’s June presidential run-off as the strife-torn country’s president elect. On 7 August 2022 Petro…

Australia Is Facing An Energy Crisis Despite Abundance Of Natural Gas

Jun 28, 2022 at 11:15

Australia is experiencing an energy crisis despite its reputation as a top gas exporter, as regulators struggle to deliver electricity. A combination of challenges has led to severe…

World Energy Demand Jumped Above Pre-COVID Levels In 2021

Jun 28, 2022 at 10:37

Global primary energy demand jumped by 5.8 percent last year and exceeded the pre-pandemic levels of 2019 by 1.3 percent, BP said in its annual Statistical Review of World…

OPEC Well Completions Dip In 2021

Jun 28, 2022 at 09:38

The number of completed wells at OPEC producers dipped by 280 compared to 2020 and stood at 1,588 wells completed in 2021. This was the lowest number of well completions…

UAE, Saudi Arabia Pumping Oil Near Limits: Macron

Jun 28, 2022 at 08:29

The UAE and Saudi Arabia's oil production is nearing their limit, French President Emmanuel Macron told his U.S. counterpart during the G7 meeting this week. The French president was referring…

Exxon CEO Warns That Consumers Will Pay For Hasty Energy Transition

Jun 27, 2022 at 11:09

ExxonMobil expects all new cars sold two decades from now to be electric vehicles. But the U.S. supermajor also believes that people will “pay a high price” in…

Russia’s Middle East Footprint Expands With New Iran-Iraq Plan

Jun 27, 2022 at 11:03

Three events occurred in the last week or so involving either Iran or Iraq separately, or both together, that put Russia back front and centre in the Middle…

Social Backlash Is Wreaking Havoc On Ecuador’s Oil Industry

Jun 27, 2022 at 10:59

The tiny impoverished South American nation of Ecuador is battling to revive its flagging oil industry. The Andean country was floated as a solution for reduced U.S. oil…

G7 Targets Russian Gold In Latest Blow To Moscow

Jun 27, 2022 at 10:57

On Sunday the Biden admin alongside the G7 announced that they will ban Russian gold imports to "further impose financial costs on Moscow for its invasion of Ukraine."…

Oil And Gas Employment Is On The Rise, But Uncertainty Remains

Jun 27, 2022 at 10:52

Employees worldwide are receiving mixed information about the outlook of oil and gas jobs as some experts believe the current geopolitical situation will drive employment figures up while…

G7 Announces $600 Billion Infrastructure Plan To Rival China’s Belt And Road

Jun 27, 2022 at 10:54

President Biden and G7 leaders pledged $600bln to a new global infrastructure project for emerging market economies to counter the Chinese regime's Belt and Road initiative

Russia Defaults On Foreign Debt For The First Time In 104 Years

Jun 27, 2022 at 10:49

Russia has defaulted on its foreign debt obligations for the first time since the Bolshevik revolution in 1918. Sanctions launched by an alliance of western nations…

U.S. Gulf Coast Crude Exports Are Breaking Records

Jun 27, 2022 at 10:46

Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3 million barrels per day (bpd) in the second quarter of 2022, as…

Europe’s Gas Prices Soar As Russian Supply Cuts Persist

Jun 27, 2022 at 10:14

European benchmark gas prices jumped at the start of this week as Europe struggles to replace Russian gas losses to fill storage sites ahead of the winter. At the start…

Goldman Sachs: Upside Risk In Oil Is “Tremendously High”

Jun 27, 2022 at 10:08

Goldman Sachs continues to be very bullish on energy and believes that the upside risk in crude oil and refined products “is tremendously high right now,” Jeffrey Currie, global head…

G7's Oil Price Cap For Russia: Easier Said Than Done

Jun 27, 2022 at 09:14

The idea of putting a price cap on Russian oil exports in order to keep the oil flowing but reduce the Kremlin's revenues from it might sound rather exotic at…

U.S. Shale Drillers Begin Re-Fracking Existing Wells

Jun 27, 2022 at 06:27

Oil well re-fracking is on the rise in the United States as shale producers seek to boost production without making significant investments in new wells, Reuters has reported. Re-fracking…

Is A Recession Really The Next Big Risk For Oil?

Jun 24, 2022 at 10:25

Crude oil is a notoriously inelastic commodity—whatever its price, consumption does not vary greatly. Yet per a notorious industry joke, the only cure for high oil prices is…

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