Continental Resources’ Chariman and Chief Executive Harold Hamm will not lose his controlling interest in the company as a result of divorce proceedings, according to an Oklahoma District Court judge. Continental is one of the largest oil producers operating in the Bakken Shale and Hamm’s roughly 124 million shares in the company are estimated to… Keep reading →
Incremental Iraqi oil production growth will play a critical role in the medium-term global oil market and increasingly demand Opec’s attention, as other producing countries will need to cut output to avoid flooding the market and potentially reducing the price of oil upon which their economies rely. This Congressional Research Service report focuses on politics,… Keep reading →
Time and again when the prospect of exporting US crude oil is discussed, the issue of domestic gasoline price impacts surfaces. Will consumers pay more or less at the pump? There is no shortage of debate on the topic, but some analysts contend the increased volumes of light sweet crude US exports would feed into… Keep reading →
A new report with contributions from 100 clean energy experts and business leaders offers 200 “executive-action recommendations” to President Obama regarding the best ways to advance the country’s clean energy agenda. Former Colorado Governor Bill Ritter led the report that included insight from Obama’s former lead energy and climate advisor Heather Zichal. [National Journal] Germany’s… Keep reading →
ExxonMobil’s Ken Cohen highlights the tax payments made by some of the largest US-based oil companies, three of which – Exxon, Chevron and ConocoPhillips – appear in a list of the Top 10 corporate tax payers in 2012 compiled by 24/7 Wall Street. “In fact, ExxonMobil and Chevron are ranked #1 and #3 respectively, with… Keep reading →
Like any other asset, crude oil trades on supply as well as demand. And while an improving U.S. economy can be expected to boost the demand for oil, a stronger supply picture should take any wind out of oil’s sales in 2014. “Although the U.S. economic growth story might make it seem as though… Keep reading →
The International Energy Agency’s December Oil Market Report considers the market reaction to last month’s interim agreement signed by Iran and the P5+1 nations. The OECD oil market watchdog says the oil market mostly took the deal in stride and numerous other factors are exerting greater pressure on oil price behavior than the six-month agreement… Keep reading →
A lawyer that represents utilities argues in an editorial the EPA’s Cross-state Air Pollution Rule enacted in 2011 causes lesser polluting states to subsidize some of the pollution reduction in states that emit greater volumes of harmful pollutants. The lesser polluting states also tend to have higher electricity costs and would thus be unfairly impacted… Keep reading →
Amid all the uproar over the US’s surprising oil production growth of the last few years, some oil market watchers may have inflated expectations of just how well-supplied the market is. US onshore oil supply growth has helped to boost global oil market supply, helping to insulate prices from the impact of disruptions, such as… Keep reading →
While next year’s oil prices may be lower than this year’s, a sharp downturn in prices is not in the cards in 2014, according to Barclays analysts. “The oil market is in the midst of a turning point for fundamentals,” wrote Barclays analysts in a note to clients today. Non-Opec supply growth will exceed global… Keep reading →
