petroleum


All posts for petroleum

Libya & OPEC’s Quota

Access to key oilfields and key port facilities has changed hands constantly over the past few years, resulting in a start-stop rhythm that has sapped productivity and, more than once, forced Libya's National Oil Corporation (NOC) to issue force majeure on its exports. The deal, brokered in Mosco ...

Hui Shan


Posted 21 hours agoLink > Oil and Gas Industryupstreamnatural gas +8

Fossil fuels account for the largest share of U.S. energy production and consumption

Aramco is still 98% owned by the Saudi government, and the federal coffers, which run everything from the national airline to plans to open up for official tourism are dependent on the dividends that Aramco pays. With dry season in the oil and gas world setting in, some of these projects must now ...

Hui Shan


Posted 9 days agoLink > ProductionsupplyConsumption +12

Saudi Aramco – Dividends over Diversification

Aramco is still 98% owned by the Saudi government, and the federal coffers, which run everything from the national airline to plans to open up for official tourism are dependent on the dividends that Aramco pays. With dry season in the oil and gas world setting in, some of these projects must now ...

Hui Shan


Posted 13 days agoLink > Saudi AramcoSaudi ArabiaOPEC +7

Currency appreciation makes crude oil less expensive for some oil importers

Just right now, Total has readied the Odfjell DeepSea Stavanger drill rig in the turbulent waters off South Africa, ready to spud a new wildcat in the offshore Block 11B/12B. And if Luiperd-1 meets expectations, it will be more than just success for Total, it will turn South Africa's upstream jou ...

Hui Shan


Posted 1 month agoLink > exportsImportsBrent +6

The State of the Industry: Q2 2020 Financial Performance

It is, obviously, unsurprising that the recently released Q2 financials for the oil & gas supermajors contained distressed numbers as the first full quarter of Covid-19 impact washed over the entire industry. To make this change, Looney is looking to shrink BP's oil and gas output by 40% through ...

Hui Shan


Posted 1 month agoLink > SupermajorShellTotal +13

SPE Russian Petroleum Technology Conference

The oil and gas industry has always been and continues to be one of the most high-tech, knowledge-intensive and innovative industries in the world. However, in the context of a global geopolitical instability, companies are facing a number of issues, including a slowdown in global energy demand, str ...

evvnt Platform


    26 Oct 2020


Posted 1 month agoEvent > petroleumOilgas +14

Open market oil sales is the new normal in South Sudan

The Republic of South Sudan is in a period of transition – both politically and economically. The Transitional Government of National Unity is in place, and agreement was recently reached over governance of the country's states. The Ministry of Petroleum is also driving change, implementing a ...

Claudia Padayachy


Posted 2 months agoOpinion > South SudanOilpetroleum +4

TODAY IN ENERGY: Drop in petroleum demand led to rise in crude oil inventories and low refinery utilization

Either way, this has thrown a spanner in the works of the giant, multi-billion oil and gas projects that were announced over the past two years as the energy world began to wake up from its post-2015 price crash investment hibernation. Further impairments were made in April 2020 when the Q1 finan ...

Hui Shan


Posted 2 months agoLink > ConsumptionDemandLiquid Fuels +6

Motor gasoline accounted for almost half of U.S. petroleum consumption in 2019

Just a few days ago, Chevron sent a tremor through the LNG industry when it announced that it was putting its stake in Australia's giant North West Shelf project up for sale, having received ‘unsolicited approaches from a range of credible buyers'. The North West Shelf Project kicked off in the 1 ...

Hui Shan


Posted 3 months agoLink > ImportsProductionUnited States +3

North American crude oil prices are closely, but not perfectly, connected

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan


Posted 3 months agoLink > pricesLiquid FuelsCrude oil +7

Financial Review: 2019

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan


Posted 3 months agoLink > Financemarketsfinancial review +5

EIA expects record liquid fuels inventory builds in early 2020, followed by draws

In the same year, the US leapfrogged Malaysia as the third largest LNG exporter in the world, and by 2025, its LNG production capacity could reach almost 15 bcf/d – eclipsing both Qatar and Australia. With its recent moves to tap into the vast natural gas resources in its offshore North Field and ...

Hui Shan


Posted 4 months agoLink > ProductionsupplyConsumption +8

EIA raises crude oil price outlook slightly as announced supply cuts lead to high inventory draws in 2021

EIA assumes OPEC members will mostly adhere to announced cuts during the first two months of the agreement (May and June) and that production compliance will relax later in the forecast period as stated production cuts are reduced and global oil demand begins growing. From that point, EIA expects ...

Hui Shan


Posted 4 months agoLink > Crude oilLiquid Fuelsnon Opec +7

COVID-19 mitigation efforts result in the lowest U.S. petroleum consumption in decades

The U.S. Energy Information Administration (EIA) estimates the decline in petroleum product demand by examining the changes in total product supplied, EIA's proxy for consumption. In the week ending April 3, total U.S. product supplied of petroleum products fell by 3.4 million b/d, the largest we ...

Hui Shan


Posted 4 months agoLink > ConsumptionDemandLiquid Fuels +3

U.S. total energy exports exceed imports in 2019 for the first time in 67 years

And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors  in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...

Hui Shan


Posted 5 months agoLink > Coalnatural gasexports +5