OPEC


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This Week in Petroleum: 2018 OPEC net oil export revenues highest since 2013, but likely to decline

EIA estimates net oil export revenues based on oil production—including crude oil, condensate, and natural gas plant liquids—and total petroleum consumption estimates, as well as crude oil prices forecast in the August 2019 Short-Term Energy Outlook (STEO). EIA's net oil export revenues estimate ...

Hui Shan


Posted 1 day agoLink > exportsImportsInternational +7

Iran drives unplanned OPEC crude oil production outage to highest levels since late 2015

The risk assessment comes as the British warship HMS Montrose had to escort the BP oil tanker British Heritage out of the Persian Gulf into the Indian Ocean from being blocked by Iranian vessels. While a risk premium has already been applied to current oil prices, some analysts are suggesting tha ...

Hui Shan


Posted 1 month agoLink > Productionsupplyoutages +5

The Strait of Hormuz and Oil Prices

Weakening global oil demand and strong supply growth in the United States contributed to global petroleum and other liquid fuels inventory builds in the first half of 2019 and limited any sustained upward pressure on crude oil prices. EIA expects that the combination of strong growth in U.S. and ...

Hui Shan


Posted 1 month agoLink > IranWaroil price +7

AOP to Honor Senegal President as “Africa Oil Man of the Year”

Africa Oil & Power will present the award to H.E. Macky Sall at its annual conference in Cape Town H.E. Macky Sall is renowned for his efforts to revive Senegal's economy and create an attractive market for oil and gas H.E. Macky Sall will provide a keynote address at  Africa Oil & Power 2019 ...

Aydanur Akkurt - Africa Oil & Power


Posted 1 month agoPress > Macky SallSenegalAfrica Oil & Power +5

The Winds of War and Oil Markets

Financial sanctions came first, then sanctions on crude oil exports from Iran. But the situation was diffused when the US introduced waivers for 8 major importers of Iranian crude in November 2018, calming the markets. Not just because the extension of the current OPEC+ deal could be scuppered, ...

Hui Shan


Posted 1 month agoLink > IranMiddle Eastoil price +3

Upcoming OPEC Meeting: What to Expect

With Russian Finance Minister Anton Siluanov suggesting that there was a risk that oil prices could fall as low as US$30/b and the Saudi Arabia-Russia alliance preparing for a US$40/b oil scenario, it looks more and more likely that the production deal will be extended to the end of 2019. The maj ...

Hui Shan


Posted 2 months agoLink > OPECoil priceShale +3

This Week in Petroleum: Lowest crude oil imports since 1986 indicate changes in U.S. Gulf Coast crude oil supply

Lowest crude oil imports since 1986 indicate changes in U.S. Gulf Coast crude oil supply U.S. Gulf Coast crude oil imports averaged 1.8 million barrels per day (b/d) in March 2019, the lowest level since March 1986 and significantly lower than the peak of 6.6 million b/d in March 2007. Preliminary ...

Hui Shan


Posted 2 months agoOpinion > CanadaCrude oilexports +8

Analysis: Oil market glut will lead to declining prices through 2020 by Dr. Daniel Fine

With the OPEC-Russia meeting ahead, the price of oil is at a crossroad.  President Trump wants lower prices for gasoline at the pump and the Democratic Party wants a shortage to lift prices higher. This is the 2020 presidential election, to re-elect Trump or a create a Democratic left-center White ...

Will Fine


Posted 2 months agoOpinion > Pioneer Natural ResourcesOccidental PetroleumAnadarko Corporation +97

Saudi Arabia has significantly reduced the amount of crude oil used for power generation

Power plants in Saudi Arabia burned an average 0.4 million barrels per day (b/d) of crude oil in 2018 directly for power generation, the lowest amount since at least 2009, the earliest year that data are available from the  Joint Organizations Data Initiative  (JODI, Figure 1). According to the JOD ...

Hui Shan


Posted 3 months agoOpinion > Electricityelectricity generating fuel mixInternational +6

Is The Saudi - Russia Oil Bromance Souring?

Prior to the meeting, Saudi Arabia had gone on record to state that the Kingdom believed that OPEC's job in rebalancing the oil market was far from over and that output cuts were necessary to continue into the second half of 2019. In the past, Saudi Arabia would most likely to be able to bully it ...

Hui Shan


Posted 4 months agoLink > OPECsaudiRussia +3

Equatorial Guinea President, OPEC Secretary General Headline APPO CAPE VII

H.E. Obiang Nguema Mbasogo, President of Equatorial Guinea, and H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, will both speak at APPO CAPE VII. Secretary General of APPO H.E. Mahaman Laouan Gaya and H.E. Emmanuel Ibe Kachikwu, Nigeria's Minister of State for Petroleum Res ...

Aydanur Akkurt - Africa Oil & Power


Posted 5 months agoPress > Equatorial GuineaAPPO CAPE VIIOPEC +8

Analysis: Things are flat in the Permian, and there's a push for renewables in Santa Fe by Dr. Daniel Fine

The Permian-Delaware Basin rig count should start falling as oil operators, large and small, are flat for 2019. Spending has been sharply reduced as supply now dominates the A.I. (Artificial Intelligence) used by many commodity traders in oil.    The large or integrated oil companies have all the ...

Will Fine


Posted 6 months agoOpinion > Santa Felatest oil and gas newsNew Mexico +69

Projects reaching FID in 2019

Cairn Energy and Woodside Energy's much anticipated SNE project is expected to reach FID in early 2019, with the companies submitting the Development and Exploitation Plan to the Ministry for approval in October 2018. Nigeria-based Seplat initially predicted reaching FID by the end of 2018 on the ...

Aydanur Akkurt - Africa Oil & Power


Posted 7 months agoLink > OPECSenegalMauritania +3

Editor’s Top Picks from 2018

Here are some of the top interviews, news and articles from Africa Oil & Power's year of covering the continent's oil and power sectors. Africa is a home to giants — boasting some of the world's top oil and gas discoveries and a wealth of investment opportunities in power generation from oil and ...

Aydanur Akkurt - Africa Oil & Power


Posted 7 months agoLink > NigeriaOPECNOPEC +2

Alternative Facts About OPEC & U.S. Shale From The Wall Street Journal

Posted in The Petroleum Truth Report on December 19, 2018 The Wall Street Journal's recent editorial “ How America Broke OPEC ” shows that even high-quality journalism is susceptible to the contagion of alternative facts. It is a propaganda piece about how the underdog U.S. oil industry miracul ...

Art Berman - The Petroleum Truth Report


Posted 8 months agoOpinion > OPECUnited StatesUSA +3