US oil company executives are reportedly exploring preliminary business opportunities in Iran that could emerge if economic sanctions are relaxed as part of an agreement regarding the country’s nuclear energy activities. The companies represented by these individuals were not identified. “It is forecast that by the visit of [the] American delegation this week and in… Keep reading →
Saudi Arabia’s oil minister, Ali al-Naimi, recently said again that OPEC will not take sole responsibility for supporting global oil prices. Since the collapse in oil prices this past year, OPEC has attempted to convince non-OPEC oil producers to cooperate on production and prices, but with little success. “Today the situation is hard. We tried, we… Keep reading →
Commonwealth Edison has added to the already intensified political situation in Illinois over the future of state-energy policy.”The utility is backing legislation being introduced today in Springfield that effectively is a response to the clean-jobs bill backed by Chicago Mayor Rahm Emanuel and a coalition of environmental, consumer and labor groups, along with renewable power… Keep reading →
Implicitly or explicitly Opec countries are battling with US oil producers over the commodity price. There is much evidence to suggest that given US production growth volumes – Gulf Coast output alone is up 1.9 million barrels per day since 2010 – and weak global demand, Opec could only marginally impact prices by cutting production.… Keep reading →
Times are changing and Opec is not what it once was in terms of oil price influence, but it’s too soon to completely dismiss the producer group that collectively controls such a large share of the world’s oil production, reserves, exports and thus supply. In this article, a Saudi diplomat argues his country “gets… Keep reading →
Falling oil prices are bringing down prices of high-risk bonds many companies used to finance their capital intensive unconventional drilling programs. “Most of that decline has occurred in the last 30 days. It’s already making it harder for oil companies to reach out to the financial markets to fund more of their drilling operations, as… Keep reading →
UN negotiators are meeting in Lima, Peru to construct a draft climate change mitigation agreement that will be finalized over the next year with the goal of signing it in Paris in 2015. The plan is to allow each country to develop a greenhouse gas emissions reduction strategy that can be realistically achieved. “But while… Keep reading →
Russian officials already in the unenviable position of dealing with the impact of Western sanctions on their national economy as reflected in a tumbling ruble – in spite of continuous Central Bank interventions – and capital outflows, now face the possibility of a recession looming in 2015, according to recent World Bank projections. Russia: Policy Uncertainty… Keep reading →
The Organization of Petroleum-Exporting Countries (OPEC) is facing a “shale-tinged” reality and needs a “wake-up call,” energy analysts have warned. Analysts in Citi’s commodities research team warn that the shale gas and oil revolution in the U.S. has been ignored for too long by OPEC, the powerful group of 12 global oil producers, and it… Keep reading →
Oil market observers will take a break from their Turkey preparations this Thursday to see whether Opec producers decide to cut oil output in a bid to stabilize prices. The meeting being held in Vienna will be long over by the time folks in the US sit down to Thanksgiving dinner. But there is no… Keep reading →
