Oil

Almost everyone is happy when oil prices fall and consumers save money at the pump. However, there is a difficulty with oil prices falling too far too fast which is almost never brought up. Everything that has a beginning has an end, and this includes the oil industry. There will come a day when the world’s oil demand will peak and the oil industry will begin its slow decline into history. When this day will come is still the subject of much debate; but whether in 20 years or 80, it is coming. When that day environmentalists anticipate so eagerly does come to pass what will remain? Among other things, the infrastructure which once moved oil across the globe.

Trans-Alaska Pipeline

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Recent years have seen a resurgence in American oil production and with the United States edging closer and closer each year toward becoming the second largest producer of crude oil in the world.

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This week, ExxonMobil and Chevron released quarterly results from Q1 2017. Both released numbers that topped consensus estimates. Some analysts have suggested the Exxon’s numbers can provide insight into the energy sector, as follows. As the world’s largest publically traded oil and gas company, ExxonMobil can say a lot about the oil economy as a… Keep reading →

Last week was a tumultuous week for traders in oil markets as lingering doubts over the effectiveness that a production cut led by the nations of the Organization of Petroleum Exporting Countries (OPEC) was achieving the desired result of reducing global oil supply. The market has been saturated for over two years and some producers… Keep reading →

The United States and many other countries have been imposing economic sanctions on Russia since the superpower annexed the Crimea in 2014. These sanctions prohibit companies which do business in the United States or other participating countries from doing business in Russia. The energy giant Exxon Mobil Corp. sought a waiver from this prohibition which… Keep reading →

Oil prices fell again this week as lower than expected demand for gasoline combined with two major oil fields in Libya resuming production to further depress crude prices. The combination of lower than expected demand and increased production stoked concerns that despite the efforts of major oil producers the global inventory surplus would remain unaffected.… Keep reading →

Last Thursday, representatives of the Nigerian military stated that the military had destroyed 13 illegal refineries in the oil hub located in the Niger Delta. Two soldiers were killed in the attacks upon what were described as “sea robbers”.  A spokesman for the military, Major Abubakar Abdullahi, said soldiers had “discovered and destroyed 13 illegal… Keep reading →

British Petroleum one of the largest energy companies in the world has accused Monroe Energy of wrongfully terminating a crude supply contract in 2016. According to the federal court filings by the oil company BP claims Monroe’s actions cost BP at least $59 million in damages. In a lawsuit filed in the U.S. District Court… Keep reading →

The state of Alaska, along with Alaskan government officials, are making major strides to ensure the approval of their LNG export project.  This week the government and energy officials involved submitted a formal application for review to the Federal Energy Regulation Commission.  Supporters of this extensive project will be patiently waiting for a response from… Keep reading →

Breakeven oil prices have fallen below $40 per barrel as of late – a trend that some analysts believe on applies to shale companies, such as Devon Energy and EOG Resources. However, new data shows that even the big players, the major oil companies, have reached the same breakeven levels. These shale companies (also known… Keep reading →

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