Author: RittaFarr

Saudi Arabia WAR THREAT: Oil tankers BOMBED – Saudis BAN exports through Red Sea straits

IRAN-BACKED Yemeni rebels aligned have launched an attack on two oil tankers passing through the strategically important Red Sea shipping lane of Bab al-Mandeb – prompting Saudi Arabia to announce that was “temporarily halting” all oil shipments along the route. Read Full Article Here: https://www.express.co.uk/news/world/994441/saudi-arabia-news-iran-houthi-movement-oil-tankers-donald-trump-expor...

This Is How Much U.S. Households Lose As Gas Prices Rise

U.S. households are feeling the pinch and are expected to have around 0 less disposable income as higher gasoline prices are offsetting part of the tax cuts from earlier this year Read Full Article Here: https://oilprice.com/Energy/Oil-Prices/This-Is-How-Much-US-Households-Lose-As-Gas-Prices-Rise.amp.html

Oil surges 3.6%, settling at $70.53, after US says crude buyers must cut Iran imports to zero

Crude prices surged by more than 3 percent on Tuesday after the U.S. State Department said it will require companies to cut all oil imports from Iran to zero by November. The announcement exacerbates concerns about a shortage of oil at a time when Venezuela’s production is in terminal decline and the market is grappling with short-term supply disruptions from Canada and Libya. Last week, OPEC and ...

Oil and gas workers still mainly old white males despite diversity gains: study

A new study shows that Canada’s energy sector workforce became larger and more diverse from 2006 to 2016, but remains predominantly the domain of older, white men. PetroLMI says the number of people directly employed in oil and gas grew by about 25,000 to almost 190,000 over a tumultuous decade that included booming growth due to record high oil prices and thousands of layoffs when prices cr...

What Happened To The IPO Market For Oil And Gas Independents?

The IPO market for oil and gas independents has evaporated, as the cost of replacing assets – including leaseholds, reserves and drilling inventory – exceeds the market value of publicly traded shale companies. Understanding when that might change requires an understanding of market fundamentals. Read Full Article Here: https://www.forbes.com/sites/uhenergy/2018/06/12/what-happened-to-the-ipo-mark...

What is petroleum, and where does it come from?

You gotta crack some plankton to make crude oil. If you’re reading something related to fossil fuels here on ZME Science, chances are it somehow ties into the issue of pollution or global warming. Both are really important topics of discussion, especially right now as people all over the world band together to fix the very real, very dangerous consequences our fossil-fuel-centric economies are hav...

Pope Francis Criticizes Continued Search for Fossil Fuels at Meeting with Oil Executives

Pope Francis warned against the “continued search” for fossil fuels Saturday and urged a gathering of oil executives, investors and officials to meet the world’s energy needs while protecting the environment and the poor. Read Full Article Here: https://www-wsj-com.cdn.ampproject.org/v/s/www.wsj.com/amp/articles/pope-francis-criticizes-continued-search-for-fossil-fuels-at-meeting-with-oil-executiv...

OPEC meeting ‘might be one of the worst since 2011’ amid differences over supply

The forthcoming meeting between OPEC and non-OPEC oil producers, including Russia, could be one of the most fractious in recent years with competing interests and demands at play, according to oil market experts. OPEC’s production policy will dominate the agenda when the world’s major oil producers meet in Vienna on June 22, with arguments expected over whether to increase production o...

Exxon Mobil criticized for worker rights and safety issues at annual shareholder meeting

Exxon Mobil faced heat over worker rights and safety at its annual meeting on Wednesday but it prevailed against several shareholder demands. Shareholders voted against four resolutions, including a call for greater clarity around the oil giant’s political lobbying activities. Union members had raised the concern, arguing that Exxon was implementing “complex and confusing” safety...

The ‘biggest’ change in oil market history: A shipping revolution could prompt crude prices to soar

The most prominent driver of oil prices over the next two years is likely to come in the shape of a shipping revolution, analysts have warned. Read Full Article Here: https://www.cnbc.com/2018/05/24/oil-prices-set-to-soar-ahead-of-shipping-revolution.html

The 130-Year-Old Bankruptcy That Created a $5 Billion Oil Giant

The hottest oil stock from the U.S. shale boom has never pumped a single barrel of crude. Texas Pacific Land Trust, a listed land bank created out of a railroad bankruptcy more than a century ago, has climbed more than 2,200 percent since 2010, outperforming the stocks of shale oil producers, service companies and prospectors alike. It’s now worth more than $5 billion. Its secret: vast tracts of m...

Bahrain is betting on 80 billion barrels of oil to help clear its budget deficit

A new, massive oil discovery in Bahrain could help the island kingdom dramatically improve its economic and fiscal strength, according to analysts at Moody’s credit ratings agency. In early April, Bahrain’s Oil Minister Sheikh Mohammed bin Khalifa Al Khalifa announced its biggest discovery of hydrocarbon deposits in decades, estimated to be at least 80 billion barrels of tight oil and between 10 a...

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