Author: phillipurich
Surge in global oil supply may overtake demand in 2018: IEA
LONDON (Reuters) – The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday.The Paris-based IEA raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd, after the International Monetary Fund upped its estimate of global e...
BP appoints new chief over Gulf of Mexico
BP will have a new regional president in Houston overseeing the Gulf of Mexico in February. Starlee Sykes wil take over in Houston as BP’s regional president for the Gulf of Mexico and Canada. She replaces Richard Morrison, who’s retiring after 37 years at BP. Sykes currently serves as vice president for BP’s global projects organization for offshore projects…...
How bullish will be the oil and gas outlook in 2018?
The Oil & gas industry in 2018 received stimulus through upward oil and gas price corrections resulting in renewed interest in upstream investment. Downstream companies generated desirable returns to remain in the hunt for growing business. Oil price showed less volatility in 2017, presented rising signs primarily owing to production cuts of around 1.8 million barrels per day (bpd) by both OPE...
World Bank to end financial support for oil and gas extraction
The World Bank will end its financial support for oil and gas extraction within the next two years in response to the growing threat posed by climate change. In a statement that delighted campaigners opposed to fossil fuels, the Bank used a conference in Paris to announce that it “will no longer finance upstream oil and gas” after 2019. The Bank ceased lending for coal-fired power stations in 2010...
Enter the ‘petro’: Venezuela to launch oil-backed cryptocurrency
Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S.-led financial sanctions, announcing on Sunday the launch of the “petro” backed by oil reserves to shore up a collapsed economy. The leftist leader offered few specifics about the currency launch or how the struggling OPEC member would pull off such a feat, but he declared to cheers that “the ...
How O&G Makes Macy’s Thanksgiving Day Parade Possible.
This is a great image about the impact of the O&G industry on our every day lives.
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