What does the term “fracking” mean to you? Chances are there are numerous answers to that question because the term has vaulted into US vernacular and political debates virtually overnight, along with the astonishing domestic oil and gas production increases to which hydraulic fracturing is directly related. Fracking is a fairly complex hydrocarbon well-completion technology… Keep reading →
The EU further ratcheted up sanctions against Russia’s oil sector targeting Gazpromneft, Transneft and Rosneft with measures that will prevent the firms from raising capital in EU member states. The economic restrictions again fall short of squeezing Russia’s natural gas industry upon which many European companies closely rely. [Wall Street Journal] European Energy Commissioner Günther… Keep reading →
The United States District Court for the Eastern District of Louisiana found BP was grossly negligent with regard to the accident and its activities in conjunction with the Macondo well in the Gulf of Mexico. BP said it “strongly disagrees” with the finding and will immediately appeal. The number of barrels spilled remains in question and… Keep reading →
Reports that a new Obama Administration climate plan seeks to circumvent congress have democrats and republicans up in arms. The alleged plan would create binding agreements with other governments that fall short of an actual treaty which would require a majority senate vote many see as unlikely. “Republicans have also sought to portray Obama as… Keep reading →
As oil production volumes from the Bakken Shale formation zoomed past 1 million barrels, farmers watched their grain inventories pile up because they have not been able to book rail shipping capacity fast enough. This article highlights shifting commodity production, pricing and transportation dynamics as the US oil output renaissance coincides with record grain production.… Keep reading →
This week is shaping up to be rough for the US coal industry. The EPA is holding hearings on plans to dramatically cut carbon-dioxide emissions released from US power plants and the Obama administration just published a report on the economic consequences of waiting to act on climate change. It’s enough to make one wonder… Keep reading →
On May 15, Japanese Prime Minister Shinzo Abe held the seventh meeting of the Advisory Panel on Reconstruction of the Legal Basis for Security in his long quest to advance the reinterpretation of its ‘Pacifist’ Constitution and to allow finally for the exercise of Japan’s right to collective self-defense. During the meeting, the members of… Keep reading →
A European court ruled former Russian oil company Yukos’ shareholders are entitled to $50 billion because the Russian government illegally expropriated assets and orchestrated the firm’s demise. Collecting the money, however, will be no easy task. “It is the tribunal’s view that Yukos was the object of a series of politically-motivated attacks by the Russian… Keep reading →
The hits keep on coming for companies invested in the North Caspian Operating Company, the consortium developing Kazakhstan’s giant Kashagan oil field. One of the world’s largest and most complex oil field development projects, Kashagan has been plagued by delays and cost overruns for years. The project briefly came on stream late last year only… Keep reading →
Here’s an interesting look at the continuing trend of big banks unwinding their trading operations amid increased regulatory oversight and proprietary trading prohibitions. Many of the big players have left the space that’s increasingly being filled by new entrants like major trading houses. ‘“Today’s markets are ‘boring,’ said Thomas Thees, a former head of North… Keep reading →
