Author: PatrickO'Brian
Oil prices fall on relentless rise in US crude output
Oil prices fell on Tuesday, extending falls from the previous day, as the relentless rise in U.S. crude output weighed on markets. Read Full Article Here: https://www.cnbc.com/2018/03/12/oil-prices-fall-on-relentless-rise-in-us-crude-output.htmla
Most investors are underweight energy stocks, ‘by a lot’: ConocoPhillips CEO
ConocoPhillips CEO Ryan Lance spoke at CERAWeek in Houston this week, and as CNBC and others are reporting – Mr. Lance says the energy sector wants investors to like it again. Mr. Lance made the following claim at CERAWeek “Most investors are underweight energy, not by a little but by a lot.” Is this due to the industry simply being a higher risk investment, is the lack of attention and excitement...
Exxon sees earnings doubling by 2025 at current oil prices
NEW YORK (Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil producer, said on Wednesday it expects its earnings to more than double by 2025 to $31 billion with crude prices at or above current levels. The company said exploration projects in Guyana and the Permian Basin as well as refining and chemical plant expansions, should help boost earnings. The company reporte...
OPEC wants to talk with rival US shale drillers to learn lessons of downturn
OPEC wants an open dialogue with U.S. shale drillers after the most painful downturn in six oil price cycles. OPEC was meeting with rival U.S. shale producers on the sidelines of the annual CERAWeek energy conference for a second year in a row, in an effort to learn what the industry can do to avoid the type of painful downturn faced in 2015. Read Full Article Here: https://www.cnbc.com/2018/03/05...
Is Oil Price Volatility A Thing Of The Past?
Is Oil Price Volatility A Thing Of The Past? A provocative question that Micahel Lynch, a contributor and analyst posed in a recent article on Forbes. Mr. Lynch goes into several details on why oil price visibility may be gone, or just temporarily dampened. This is surly to be one of many articles written on the subject, due to the soaring reassurance of the US shale oil production and the new equ...
US oil at record output, energy investors act as if next bust is already too close for comfort
By many measures, the US oil industry is having a great year: record output, better pricing and less regulation. But no one is celebrating. As mentioned by several outlets, the shale industry is doing very well. However, this boom is being tempered with a new vision of the future. One that includes the awareness of a boom and bust industry. Many investors are now cautioning over spending and keepi...
Saudi Arabia among lowest oil field emissions on planet, Venezuela highest, study shows
A new study published in Nature found oil fields in Saudi Arabia had among the lowest greenhouse gas emissions on the planet, a feather in the cap of the Middle Eastern kingdom as governments worldwide combat climate change. Read Full Article Here: https://m.chron.com/business/energy/article/Saudi-Arabia-among-lowest-oil-field-emissions-on-12722769.php
Chevron Says Climate Change Fallout No Quick Threat to Oil
As reported by Bloomberg, Chevron Corp.’s oil and gas business will be minimal effected by climate change for decades to come, according to a company report. Among their findings, Chevron said oil and gas will comprise 48 percent of the world’s energy mix by 2040, even under the International Energy Agency’s most unfavorable scenario for the industry. Now it’s 54 percent. While they admit th...
Really!?! – IEA Says U.S. to overtake Russia as top oil producer by 2019 at latest: IEA
The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on Tuesday, as the country’s shale oil boom continues to upend global markets. This all seems to be an unbelievable turn of events. A few years ago, the rise of U.S. fracking flooded the market, and was blamed in part for the collapse and downturn. I recall r...
Saudi oil minister hopes OPEC, allies can ease output curbs in 2019
Saudi Arabia hopes OPEC and its allies will be able to relax production curbs next year and create a permanent framework to stabilize oil markets after the current supply cut deal ends this year, its oil minister said on Saturday. The Organization of the Petroleum Exporting Countries is reducing output by about 1.2 million barrels per day (bpd) as part of a deal with Russia and other non-OPEC prod...
Offshore Oil Recovery Begins in the World
Explorers are once again testing the waters in their search for oil, according to Transocean Ltd., the world’s biggest offshore rig contractor by market value. Drillers worldwide are forecast to boost new commitments for all types of offshore work by 140 percent this year, Jeremy Thigpen, Transocean’s Chief Executive officer told analysts and investors in a conference call on Wednesday. Thigpen sa...
“Gooooal” for Egypt and Israel Gas Deal
Egypt’s president says his country “scored a goal” by signing a billion deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub. The deal is worth 15 billion and will help establish Egypt as a regional energy hub. As reported by Fox Business, the agreement signed Monday was between Delek Drilling and its U.S. partner, Noble Energy a...