Commercialization, Conventional Fuels
May 1, 2020
Via: ForbesHow will U.S.$20/bbl affect the oil and gas supply chain? It’s going to get tough, very tough. The service sector is already on the ropes but will be first port of call when operators look to save money. IOCs and […]
Commercialization, Conventional Fuels
April 30, 2020
Via: ForbesRoyal Dutch Shell surprised the oil world today, slashing its dividend — for the first time since World War II — by 66%. At a press briefing, Shell CEO Ben Van Beurden explained the dramatic decision: “We live in a […]
April 28, 2020
Via: ForbesOffshore oil platforms located in the middle of the ocean, provide a perfect storm for COVID-19: limited medical facilities, great distances from shore, and cramped quarters and bunks similar to a battleship. There are anywhere from 15,000 to 16,000 people […]
Commercialization, Conventional Fuels
April 27, 2020
Via: ForbesAt the start of the year, even before oil and gas companies were clobbered by the global coronavirus or Covid-19 downturn and the short-lived OPEC+ crude price war, energy market sentiment wasn’t exactly robust. However, what has unfolded in the […]
April 24, 2020
Via: ForbesAre we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-U.S.$20 a barrel in this downturn and WTI sub-zero, albeit briefly and in somewhat freakish circumstances. […]
Commercialization, Conventional Fuels
April 22, 2020
Via: ForbesSorry, Greta. Sorry, Extinction Rebellion. We haven’t seen the end of the fossil fuels industry yet. The dramatic slide in U.S. oil futures on Monday is over. Oil bears loved it. Oil haters celebrated “big oil’s” demise on Twitter (then […]
April 21, 2020
Via: CNBC energyTexas has been slammed by the collapse in oil prices and the recovery ahead for the area and the national economy as a whole will be slow, former Dallas Federal Reserve President Richard Fisher said Tuesday. West Texas Intermediate crude […]
Commercialization, Conventional Fuels
April 21, 2020
Via: ForbesThe date April 20, 2020 will forever be etched in oil trading history, for on that fateful Monday afternoon an expiring West Texas Intermediate contract for May initially slumped below $10, headed to zero, and at just past 2pm EDT […]
Commercialization, Conventional Fuels
April 17, 2020
Via: ForbesThe OPEC+ ‘deal of the century’ last weekend changes oil market dynamics in the short run. The 10 million barrels per day (b/d) production cut from May is huge, amounting to 10% of global supply, and it’s needed. The cuts […]
Commercialization, Conventional Fuels
April 15, 2020
Via: ForbesThe headlines suggest a bold new era for the OPEC-plus cartel after members agreed to a historic supply cut deal of nearly 10 million barrels a day over the weekend to help offset colossal demand losses from the Covid-19 coronavirus. […]
Commercialization, Conventional Fuels
April 15, 2020
Via: ForbesCrude Oil futures just broke below their March 2020 lows and are plunging even after President Trump brokered a deal for OPEC to cut production. There’s a growing consensus that oil prices will be trading in the low single digits […]
Commercialization, Conventional Fuels
April 13, 2020
Via: CNBC energyThe OPEC+ deal that’s supporting oil prices could save millions of U.S. jobs, according to the chief executive of Russian sovereign wealth fund RDIF. After days of discussion, OPEC and its allies reached an agreement on Sunday to cut production […]
Commercialization, Conventional Fuels, News and Policies, World
April 10, 2020
Via: ForbesOPEC+ leaders Saudi Arabia and Russia arrived at an historic crude production cut late Thursday, effectively halting a bitter oil war which saw prices implode by more than 50% from January highs. Details from the virtual OPEC+ conference have just […]
Commercialization, Conventional Fuels
April 8, 2020
Via: CNBC energyOil markets are facing their greatest moment of uncertainty in decades ahead of a virtual meeting of OPEC+ — the alliance of OPEC and non-OPEC producers — on Thursday, which was delayed from Monday over persistent disagreements and abrasiveness between […]
Commercialization, Conventional Fuels
April 7, 2020
Via: CNBC energyExxon is slashing its 2020 capital spending plan as depressed oil prices hammer the energy sector, but CEO Darren Woods said that the company’s dividend is safe for the time being. “A lot of our shareholders are retail shareholders — […]
Commercialization, Conventional Fuels
April 6, 2020
Via: ForbesRecent commentaries have been quick to peg the unfolding coronavirus pandemic as the second, or perhaps third, ringing of oil’s death knell. To be sure, the lockdowns are destroying oil demand at an unprecedented scale. Yet trying times demand perspective. […]
Commercialization, Conventional Fuels
April 3, 2020
Via: ForbesBarely a month on from the collapse of OPEC+ and the subsequent slump in oil prices, the crude producers’ group has announced it will attempt another round of negotiations via an online meeting on Monday (April 6), prompting a price […]
Commercialization, Conventional Fuels, News and Policies, World
April 2, 2020
Via: ForbesOn Thursday Morning, President Trump announced that he spoke with the Saudis who spoke with the Russians, and that they planned to cut at least 10 million barrels of oil production. This is a huge cut, but it may be […]
Commercialization, Conventional Fuels
April 1, 2020
Via: CNBC energyThe oil price war could last until the end of the year, an analyst said Wednesday. Prices have plummeted more than 60% since the beginning of year after OPEC+ failed to reach an agreement, leading Saudi Arabia and Russia to […]
Commercialization, Conventional Fuels
March 31, 2020
Via: ForbesGiven the enormous funds currently being dedicated to support the economy during the COVID crisis, there has been a lot of talk of the need for ‘green’ stimulus, to ensure that economic recovery doesn’t tank the environment. Yet the fundamental […]