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Tag: oil


Commercialization, Conventional Fuels

Oil giants want to own only the cheapest, cleanest hydrocarbons

August 4, 2020

Via: Energy Collective

BP’s eagerness to sell its Alaskan business reflects a broader shift. According to The Economist, the oil industry faces a basic problem. If the price of Brent crude, the global benchmark, surpassed $100 a barrel, about 90% of the world’s […]


Commercialization, Conventional Fuels

Oil rises after surprise drop in U.S. inventories offsets demand concerns

July 29, 2020

Via: CNBC energy

Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere. Brent crude futures were […]


News and Policies, U.S.

Patterson-UTI Reports Drilling Activity for June 2020

July 7, 2020

Via: PR Newswire

HOUSTON, July 7, 2020 /PRNewswire/ — PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of June 2020, the Company had an average of 65 drilling rigs operating. For the three months ended June 30, 2020, the Company […]


Commercialization, Conventional Fuels

Oil prices just had their best quarter in 30 years — what’s next?

July 1, 2020

Via: CNBC energy

Oil prices registered their best quarterly performance in 30 years during the three months through to the end of June, staging a dramatic comeback after falling to record lows in April. Brent crude futures skyrocketed more than 80% in the […]


Chemical, Conventional Fuels, Energy Consumption, World

The World’s Top 10 Oil Producers And Consumers

June 26, 2020

Via: Forbes

Following last week’s release of the BP Statistical Review of World Energy 2020, I began to review and analyze the data. Today I take a deeper dive into the numbers on petroleum. Oil accounts for a third of the world’s […]


Commercialization, Conventional Fuels

Oil Rally Held Back By High Inventories, Coronavirus Fears

June 23, 2020

Via: Forbes

U.S. benchmark West Texas Intermediate (WTI) is over $40 a barrel, a price level it has struggled to surpass in the past. The uptick is the result of investor enthusiasm over the fact that global oil supply is still under […]


Chemical, Conventional Fuels

World Oil Reserves Suddenly Downgraded By 292 Barrels! Yawn.

June 19, 2020

Via: Forbes

This week, Rystad Energy announced the eye-popping finding that the world’s estimate of oil supplies had suddenly shrunk by 292 billion barrels. Needless to say, the announcement caused eyes to pop, as did the headline’s statement heralding the early onset […]


Chemical, Conventional Fuels

U.S. Rig Count Finds Bottom, Rebound For Oil Services Sector Starts Now

June 18, 2020

Via: Forbes

The worst crisis in the history of the global oil industry hit the U.S. oil services sector hard, prompting a wave of cancelled contracts, scrapped investment and bankruptcies. The worst, though, appears to be behind us. It is difficult to […]


Chemical, Conventional Fuels

EPA’s Attack On Science Will Allow More Pollution From Burning Coal And Oil

June 15, 2020

Via: Forbes

Here’s a neat political trick: if you want to introduce a new law, but you know people will hate it, give it a misleading, nice-sounding name. It’s surprising how well this works. Let me explain. The U.S. Environmental Protection Agency […]


Commercialization, Conventional Fuels

Is Another Oil Price Spike Likely?

June 12, 2020

Via: Forbes

The crash in oil prices and collapse in drilling (especially in the U.S. shale sector) has caused many observers to warn that insufficient investment will lead to another supply shortfall and price spike. This is certainly possible but fears that […]


Commercialization, Conventional Fuels

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

June 9, 2020

Via: CNBC energy

Goldman Sachs sees a correction in oil prices on the horizon even amid a significant recovery in the last month and the recent decision by OPEC and its allies to extend historically large production cuts through July. “With oil now […]


Commercialization, Conventional Fuels

Oil rally and Saudi price spikes could hurt refiners, stifling market recovery

June 8, 2020

Via: CNBC energy

Oil prices pared gains on Monday, despite the weekend announcement by OPEC and its allies, known as OPEC+, that historic production cuts of 9.6 million barrels per day across the group would continue through July as the coronavirus pandemic continues […]


Chemical, Conventional Fuels

Pandemic Accelerates Decline And Fall Of Fossil Fuel Producers

June 5, 2020

Via: Forbes

Fossil fuel companies are set to face “terminal decline” because of falling demand and higher investment risks caused by competition from clean technologies and tougher government climate and energy security targets, according to climate finance analysts. The value of oil, […]


Chemical, Conventional Fuels, News and Policies, World

Saudi Arabia and Russia push for an extension to output cuts, with OPEC+ meeting this week still possible

June 4, 2020

Via: CNBC energy

Some of the world’s most powerful oil producers had been expected to convene on Thursday, with energy market participants closely monitoring whether the influential group will officially agree to extend their deepest ever round of output cuts. OPEC kingpin Saudi […]


Commercialization, Conventional Fuels

The Oil Price Collapse Is Already Over

June 3, 2020

Via: Forbes

Well, that was brief. The collapse in the global oil price at the start of the Coronavirus crisis got many headlines, but its rapid increase as the recovery phase begins has not attracted so much attention. Data revealed yesterday shows […]