Here’s what Breaking Energy staff are reading at other outlets.
Oil
Top Recent Energy Industry Stories: 12/12/2023
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Top Recent Energy Industry Stories: 1/24/2023
By Breaking EnergySaudi Security Forces Kill Shia Militants Near Major Oil Facilities
By Simon HendersonComing the same week as Secretary Pompeo’s Middle East tour, the incident is a powerful example of the regional threat posed by Iran. Other than a photograph of a badly damaged building, details have been slow to emerge about the January 7 clash in the Qatif area of Saudi Arabia’s Eastern Province. Authorities waited two… Keep reading →
New Study Reveals Gaps In The Methods Used To Assess Chemicals In Oilfield Wastewater
By Environmental Defense Fund Energy Exchange BlogA new study led by researchers with Colorado School of Mines exposes limitations with the current methods used to detect chemicals in oilfield wastewater and offers solutions to help regulators make better decisions for managing this waste stream. Oilfield wastewater is extremely salty and can contain multiple combinations of many potentially harmful chemicals (approximately 1600 on a… Keep reading →
It’s a Sign Of The Times: Challenges To Big Oil Transactions Will Likely Continue In California
By JESSICA BROWN, TARA KAUSHIK | HOLLAND & KNIGHT LLPIt is no secret that the nation of Greece has suffered greatly from economic woes in recent years. Greece has struggled with high unemployment and severe economic depression for years with some parties saying the country is worse off than the United States was during the great depression in the 1930s. Yet into this bleak situation hope has emerged, in the form of the energy markets.
For months, OPEC has been attempting to put a floor under the price of oil, with little success. Last week the countries of OPEC renewed their commitment to this goal by extending production cuts an additional 9 months. Recognizing their inability to do this alone, OPEC brought in Russia and a host of smaller players in the oil production market. The main player’s motivation for this effort is obvious, next year the Russian elections take place and the Saudi Arabian oil IPO, Armco comes out. What is less obvious to some people, is that all of this could be an exercise in futility.
The production cuts deal lead by OPEC and Russia have received a great deal of publicity lately, but in reality it is the Chinese economy that could make or break the oil markets this year. While these supply side players have promised to do “whatever it takes” to support the price of oil, in large part the rise or fall of the world’s most traded commodity lies with their largest customer.
Riyadh and the house of Saud have stated their intentions to reduce oil to the United States. This action is being taken in order to reduce oil inventories in the US. According to Saudi Oil Minister Khalid Al-Falih, the near record stockpiles of oil which have accumulated in the United States are preventing a rise in global oil prices.
How individuals and the power of the internet are reshaping oil markets through data collection
By Michael McDonaldThe oil industry differs from many others in that it seems to thrive on speculation and disorganization. The industry has very little desire to collect and utilize data in order to become more efficient. Data collection is instead being left to third parties who are attempting to collect and organize data in a way that it becomes useful to oil traders.