There has been plenty of volatility in the oil price this year, but the general direction of travel has been only one way – down. After a close to 6 percent rise in the WTI oil price to $47.15 on Wednesday, traders are increasingly optimistic that oil may have hit its lowest level of the… Keep reading →
In the US, total greenhouse gas emissions (GHG) from the transportation sector (27 percent in 2013) are closely trailing greenhouse gas emissions from the electricity sector (31 per cent in 2013). According to the US EPA, the majority of such transportation-related CO2 emissions result from the “combustion of petroleum-based products, like gasoline, in internal combustion… Keep reading →
Oil and gas deals between China and Iran are set to change. Last week, several news agencies in the region, including the Iran Daily and Trend News Agency said that Iran and China have agreed that China would pay in cash for the oil and gas it buys from Iran. China is currently the biggest… Keep reading →
Lower oil and liquefied natural gas (LNG) prices, both off by around 40 percent and 60 percent in the past year respectively, will continue to change the global energy landscape, impacting everything from when and if new energy projects go forward, capex spending decisions at integrated oil majors, and even geopolitics. There is not much… Keep reading →
The Organization of Petroleum Exporting Countries (OPEC) has decided to maintain its production levels for at least another six months, Saudi Arabia’s Oil Minister Ali al-Naimi told reporters Friday. The cartel maintained its collective output production level at 30 million barrels per day, which could continue to weigh on oil prices this year, as oversupply… Keep reading →
Widely divergent views were on display this morning with Continental Resources’ CEO Harold Hamm promoting US crude oil exports, EIA Chief Adam Sieminski discussing recent oil market lessons and Author Bill Powers playing the pessimist. A morning panel at the Financial Times’ Energy Strategies Summit held in New York City featured a discussion about the… Keep reading →
Oil prices will remain below the psychologically important $100-a-barrel mark until at least 2025, according to a draft report by the Organization of the Petroleum Exporting Countries (OPEC), seen byThe Wall Street Journal. In its most optimistic scenario, OPEC, which represents 12 oil-producing countries, forecast that oil will sell for around $76 per barrel in… Keep reading →
The monthly global average concentration of carbon dioxide in the atmosphere surpassed 400 parts per million in March for the first time since record keeping began. “This marks the fact that humans burning fossil fuels have caused global carbon dioxide concentrations to rise more than 120 parts per million since pre-industrial times,” added Tans. “Half of… Keep reading →
What are US oil and gas producers most concerned about in the current oil price environment and over the longer term? Financial advisory and consulting firm BDO took a stab at answering that question in their annual BDO Oil and Gas RiskFactor Report, which analyzes the risks listed in the most recent 10-K filings of the… Keep reading →
Opinion: Approving Energy Exports Would Unlock Huge Economic Growth
By Margo ThorningThe Department of Energy recently approved an application from Alaska LNG to export natural gas. But there’s a catch: these exports can only go to nations where the United States has a free-trade agreement in place. Never mind the fact that the top markets for LNG are India, China, and Japan, where we don’t have… Keep reading →