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Oilconvo News wrote a new post, Oil prices have surged above $70—here are 4 key reasons behind the rally 6 years, 8 months ago
Supply concerns surrounding the possible reinstatement of sanctions on Iran aren’t the only reason for the climb in U.S. benchmark oil prices above a barrel to their highest levels since late 2 […]
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Oilconvo News posted an update 6 years, 8 months agoConoco moves to take over Venezuelan PDVSA's Caribbean assets: sourcesU.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela's state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions.
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Oilconvo News wrote a new post, Managing millennials in the oil and gas industry 6 years, 8 months ago
In recent years amid low commodity prices, oil and gas companies have had to reduce their headcount to lower costs, while continuing to build their talent pipeline for future success. As a result, the […]
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Oilconvo News wrote a new post, Saudi Arabia says higher oil prices won't change the pace of its reforms 6 years, 8 months ago
Higher oil prices won’t change the pace of Saudi Arabia’s reforms, the country’s finance minister told CNBC Wednesday.
“Higher oil prices will only help reduce the deficit and build reserves, we will continu […]
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I feel like the projected budget of 52 billion should be prefaced with ONLY 52 billion. With the US gov. seeing a projected Trillion dollar deficit this seems reasonable given the downturn.
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Oilconvo News wrote a new post, Not Everyone Gets Why OPEC Is Determined to Stick With Cuts 6 years, 8 months ago
OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target. The primary justification for doing so looks shaky.
Read Full […]
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Oilconvo News wrote a new post, Fund manager: $300 oil is 'not impossible' within a few years 6 years, 8 months ago
Pierre Andurand, a leading oil fund manager, said that lack of investment in new production could lead to a situation where $300 per barrel oil is “not impossible” within the next few years, Bloomberg […]
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Oilconvo News wrote a new post, OPEC Cuts May Go Deeper as Another Member Sees Output Slump 6 years, 8 months ago
While plunging output in Venezuela captures the oil world’s attention, problems are quietly festering in another OPEC nation.
Angola, once Africa’s biggest crude producer, is suffering sharp declines at und […]
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Oilconvo News wrote a new post, Crude Holds Near $68 as Questions Swirl Around Iran Nuclear Deal 6 years, 8 months ago
Crude held the $68-a-barrel level as a geopolitical risk premium in the market limited losses.
Futures in New York fluctuated between gains and losses on Friday, poised for a 0.7 percent decline this week. […]
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Oilconvo News wrote a new post, Norway’s $1 trillion sovereign wealth fund suffers first-quarter losses 6 years, 8 months ago
Norway’s sovereign wealth fund has reported first-quarter losses on its investments, citing falling stock markets.
The fund’s return was minus 1.5 percent, lagging the positive return of 3.5 percent at the end […]
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Does anyone know if this 1.5% loss is due to the diversification away from oil and gas, or has the actual divestment not taken place yet?
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Oilconvo News wrote a new post, Oil is on a steady and sustainable uptrend 6 years, 8 months ago
The NYMEX oil price breakout above $66 comes as no surprise to traders who analyze the price charts.
This price behavior sets the next price target near $76 and potentially higher. Readers will r […]
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Oilconvo News wrote a new post, Saudi Aramco's international IPO delay makes sense as oil rallies, investor says 6 years, 8 months ago
The much-anticipated international listing of Saudi Aramco — the world’s largest oil company — is likely to be delayed until 2019, but that decision makes sense given that oil prices are expected to head to $8 […]
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Oilconvo News posted an update 6 years, 8 months ago
https://www.marketwatch.com/story/global-oil-supply-surplus-may-soon-become-a-shortage-2018-04-21
Global oil supply surplus may soon become a shortageOil prices have rallied so far this year, as OPEC-led efforts have helped erase a big global surplus, but the market may soon suffer from a new dilemma: a shortage of crude supplies that would support further price gains.
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Oilconvo News wrote a new post, Kuwait: OPEC May Discuss Extending Oil Cut Deal In June 6 years, 8 months ago
OPEC will keep its oil production cuts in place through the end of 2018 and will discuss a further extension at the June ministerial meeting in Vienna […]
Read Full Article Here: […]
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Oilconvo News wrote a new post, China’s Sinopec is reportedly planning to cut Saudi oil imports due to price rises 6 years, 8 months ago
China’s Sinopec plans to cut Saudi crude oil imports loading in May by 40 percent, an official from the company’s trading arm Unipec said.
Read Full Article Here: […]
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Oilconvo News wrote a new post, Despite Oil Rebound – Devon Energy Laying Off 9 Percent of Staff. 6 years, 8 months ago
Despite the recent oil and gas industry rebound, on Tuesday Devon Energy Corp said it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline operations and boost the shale oil […]
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Oilconvo News wrote a new post, Port Author Texas May Add 600,000 barrels-per-day Processing Capacity 6 years, 9 months ago
Port Author, Texas is may be adding over 600,000 barrels-per-day to their crude oil processing capacity. According to a recent Reuters article Motiva Enterprises is studying an expansion of its Port Arthur, […]
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I think Port Arthur is owned by the Saudis?
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Wikipedia confirms this,. It was a JV between the Saudis and Shell…
In March 2016, the joint venture between Shell and Saudi Aramco was set on course to dissolve, and this refinery is now controlled by Saudi Aramco effective May 1, 2017 — Wikipedia
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Oilconvo News wrote a new post, China's list of tariffs takes aim at US chemicals and plastics sectors 6 years, 9 months ago
China’s list of more than 100 American products under threat of tariffs targets the U.S. chemicals and plastics sectors at a time when parts of the industry are investing heavily in new p […]
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Trump has started a war he cannot win. The American people will be the losers when they have to pay more for their goods.
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Mike,
In my opinion, the US and China have been in a trade war for decades. China has been ‘dumping’ their goods into the US market and have been stealing global intellectual property for years. They have done anything they want to keep driving their economy.
As the US is still the largest single market (not trading block), it would be detrimental for the Chinese economy to bar themselves from his market.
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Hi Doug, supply and demand. The US wanted cheaper goods than the high price “made in America” just like any other country and China supplied them.
A lot of countries have a transfer of knowledge. You set up your factory and do business in my country but you transfer the technology in a 5 / 10 year period.
Not just China but no country would standby and do nothing if another country was to slap tariffs on its goods.
China is a massive importer, Trump will never win this War that he has started.-
Mike,
The ‘war’ started long before Trump was in office.
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Oilconvo News wrote a new post, Russia Not Joining OPEC – But Still Cooperating 6 years, 9 months ago
Does it really matter if you’re an official member of OPEC, or just a non-OPEC cooperating country? On the recent comment by Russian Energy Minister Alexander Novak, he told Reuters on Tuesday a joint o […]
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Oilconvo News wrote a new post, Latin American nations compete for capital in surge of oil auctions 6 years, 9 months ago
For decades, many Latin America’s oil-producing nations have often shunned investment from foreign firms, instead keeping their vast reserves under the tight control of governments and state-run oil […]
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Oilconvo News wrote a new post, India's top refiner plans $22 billion expansion over five years 6 years, 9 months ago
Indian Oil Corp plans to invest 1.43 trillion rupees ( billion) in next five years as the country’s top refiner seeks to raise its annual capacity to about 3.2 million barrels per day by 2030, its head of […]
