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Financial Carnage Continues To Gut Industry


As the Mainstream media reports about the next phase of the glorious U.S. Shale Oil Revolution, the financial carnage continues to gut the industry deep down inside the entrails of its horizontal laterals.  The stench of fracking fluid must be driving shale oil advocates utterly insane as they are no longer able to see financial wreckage […]

Peak oil? Majors aren’t buying into the threat from renewables


Two decades ago, BP set out to transcend oil, adopting a sunburst logo to convey its plans to pour $8 billion over a decade into renewable technologies, even promising to power its gas stations with the sun. FILE PHOTO – A combination of file photos shows the logos of five of the largest publicly traded […]

Oil Tycoons Make Billions In Saudi Purge


Oil tycoons are applauding Saudi Arabia’s recent anti-corruption raid, which has boosted the net worth of the world’s 21 largest oil tycoons by $1.4 billion, according to Bloomberg. The boost came on the back of increased crude prices as reports of the arrests emerged. The net worth of Saudi investor Prince Alwaleed bin Talal, on […]

Oil’s $1 Trillion Question


How much is Saudi Aramco, the world’s largest energy company, actually worth? If it wasn’t a sales pitch, it really sounded like one. “Aramco is by far the lowest-cost producer,” said Khalid al-Falih, the Saudi oil minister, at the Future Investment Initiative in Riyadh. The October gathering, dubbed “Davos in the desert,” brought together a […]

In Today’s Oil Market, It’s America Last


America is, as you know, a bit different from the rest of the world. Lately, this exceptionalism has been more noticeable than usual in the oil market: It isn’t just the outright price where a gap has opened up. The shape of the futures curves — how barrels for delivery down the road are being priced […]

The Fragile Gold Industry.


This article is reposted from Steve Rocco’s website with the kind permission of the author. It illustrates a typical theme of the “Cassandra’s Legacy” blog, the fact that all human enterprises are dynamic; they evolve, change, and adapt to the challenges generated by the environment.  In particular, the mining industry follows a typical dynamic cycle […]

Saudi Arabia Oil Minister Says Full Aramco IPO on Track for 2018


Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of its state oil company in 2018, Oil Minister Khalid Al-Falih said Tuesday. Asked whether both parts of the IPO will happen next year, Al-Falih said: “Yes of course; it is on track.” He declined to answer questions […]

Have the US passed peak shale?


The worm is turning for the crude oil price and American petroleum’s latest reporting season will likely announce a telling maturation of the US shale industry according to Woodside Petroleum chief executive, Peter Coleman. “The market is feeling pretty positive and we think there will be strengthening of crude prices before the end of the […]

Junk Borrowing Binge Benefits Wall Street Above All


Junk-rated companies are selling loads of debt again. They’re issuing dollar-denominated bonds at the fastest pace this month since October 2012. October Surge This month’s U.S. junk-bond sales are poised to be the fastest for an October since 2012 Source: Bloomberg Note: Blue bar is monthly volume 2012-2016, MTD 2017. Yellow bar is conservative projection. This […]

Saudi Aramco Reportedly Shelves IPO In “Face-Saving” Move

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We noted a month ago that the long-awaited Saudi Aramco IPO, scheduled for mid-2018, could be delayed to 2019, but now, according to The FT, Aramco is considering shelving plans for an IPO altogether in favor of a private share sale to the world’s biggest sovereign wealth funds. The FT notes that talks about a […]

As Good as It Gets


It’s easy to get lulled into complacency by synchronized global growth, easy financial conditions and super-low economic and financial market volatility. Yet, while the current macro environment and outlook appear better than many of the younger market participants can remember, the last time a similar combination prevailed was in 2006 – and that didn’t end […]

No More Free Lunch Is the Big Change Under Way in the Oil Market


For years, investors have played Popeye to the energy industry’s Wimpy, the cartoon character famous for his “I’ll gladly pay you Tuesday for a hamburger today” motto. In return for the promise of future profits, they’ve funded loss-making energy producers and explorers through a generous mix of loans, bonds and equity. That may be changing, […]

Saudi Aramco Plans ‘Mega Investment’ in World’s Top Oil Guzzler


Saudi Arabia’s state-owned oil giant has “mega investment” plans for the world’s fastest growing oil market, according to Saudi Arabian Oil Co.’s chief executive officer. The company, popularly known as Saudi Aramco, plans to create a fully integrated business in India and is interested in partnering with Indian companies, including in a planned large refinery […]

ExxonMobil Dethroned As Top Energy Company


Gazprom dethroned ExxonMobil as the top energy company in the world, according to the 2017 S&P Global Platts Top 250 Global Energy Company Rankings. The rankings measure the financial performance of energy firms on four key metrics: asset worth, revenues, profits, and return on invested capital. The list only includes companies that have assets greater […]

Aramco IPO to go ahead in 2018

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Saudi Finance Minister Mohammed al-Jadaan told bond investors during a presentation on Monday that the initial public offering (IPO) of Saudi state oil giant Aramco will proceed as planned in 2018, sources familiar with the matter told Reuters. Aramco has previously said the listing remained “on track” after a report that the oil company was […]

The Financial Collapse is Coming, So You Better Know What You’re Doing


Despite a week that included President Trump threatening to “totally destroy North Korea,” devastating hurricanes, monstrous earthquakes hitting Mexico and uncertainty with the Federal Reserve unwinding its massive balance sheet – famed investor Jim Rogers says the worst is yet to come. “Last week was not the end of the world because the market is […]

Deals in Code, Arrests in Raids: The Risky Stakes of Oil Middlemen

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The worst day of Saman Ahsani’s life began with a 9:30 a.m. knock on the door of the Monaco apartment where he lived with his wife and children. A scrum of law enforcement officials stood in the hallway, flashing a warrant to search the premises and seize property. “What is this about?” Mr. Ahsani asked, […]

Failure to launch

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Risk assets failed to launch even after North Korea fired a missile over the northern part of Japan and reports of a terror attack on a London subway or the “tube” in rush hour. Oil failed to launch after rejecting the August high and pulled back below that strong resistance upper Bollinger band. The oil […]

Why Aramco Delayed Its IPO


The long-awaited Saudi Aramco IPO, scheduled for mid-2018, could be delayed to 2019. International news reports have stated that the Saudi government is currently putting together contingency plans for a possible delay to the biggest IPO ever. The listing of 5 percent of Saudi Arabia’s crown jewel, the world’s largest oil company Saudi Aramco, could […]

Meth, Coke And Oil In The Texas Shale Patch


When Joe Forsythe returned to the West Texas oilfields last year after a stint in a drug rehab facility, he figured he had beaten his addiction to methamphetamine. The 32-year-old rig worker and equipment handler lasted about a year before relapsing. “It’s easy to get back into that mentality,” said Forsythe, of Midland, Texas, who […]

Shell’s defence of big oil is too hopeful


Royal Dutch Shell, looking deeply into its crystal ball, sees a future that’s still heavily dependent on oil. The Anglo-Dutch giant expects crude will continue to play a major role in global energy supply for decades, even in its less oil-friendly scenario. That optimism goes someway to justifying the billions of dollars it continues to […]

Dawn of a global commodity: LNG

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The LNG sector has not been without its drama in 2017, with Hurricane Harvey, the Qatari diplomatic crisis and Australia’s decision to regulate LNG exports keeping the market on its toes despite significant export capacity expansions. But while there has been some fretting over possible LNG supply disruption, it remains a buyer’s market, thanks to […]

The Plastic Fantasy That’s Propping Up the Oil Market

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Kenya’s mountains of plastic bags might not seem central to oil’s grand narrative, but they are. Last week, the East African country banned almost everything about them: making them, importing them, selling them, using them, with penalties of up to four years in jail or fines up to $38,000. More marine plastic than fish by […]

Oil Barrels Aren’t Real Anymore

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The U.S. oil industry pumps more than 3 billion barrels of crude per year. Oil crosses continents in pipelines like the Keystone, which moves 1.3 million barrels per day. It travels between them on tanker ships, the largest of which can carry 3.7 million barrels. When oil leaks, the disaster is quantified in barrels spilled—more […]

The Shale Party Is Going To End Badly Google Alert


Summary Despite Wall Street’s love for shale, the industry has not been able to support itself through internal cash generation. If Wall Street’s love affair with shale fades, the party is over and production levels will implode. Sentiment towards shale producers relative to offshore producers is completely polarized and will likely reverse in the future. […]

Our forecast of oil prices by 2020 is $65


Global Practice Lead of Wood Mackenzie about alarming future of benzene manufacturers and glowing perspectives of petrochemists Photo: Maksim Platonov 100$ per barrel: at last forget these exorbitant oil rates, Global Practice Lead of Wood Mackenzie’s Refining and Marketing research Alan Gelder urged on 4 September at ”Downstream Tatarstan” international conference whose 40-minute speech was […]

Consumption Exhaustion


When people use the word catalyst to describe an event that may prick the stock market bubble, they usually discuss something singular, unexpected and potentially shocking. The term “black swan” is frequently invoked to describe such an event. In reality, while such an incident may turn the market around and be the “catalyst” in investors […]

We Looked into the Effects of Hurricane Harvey and Here’s What We Found

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Unless you’ve been away from a TV, computer or smartphone for the past week, you’ve likely seen scores of pictures and videos of the unprecedented devastation that Hurricane Harvey has brought to South Texas and Louisiana. As a Texan by way of Canada, I’d like to take a moment to reflect on the human and […]

Iraq Braves Break With Tradition in Search of Oil’s True Worth


OPEC’s second-largest producer is stepping up the campaign to get more for its oil by looking to revamp the way it sells crude to its biggest customers. Iraq is considering plans to use a new reference price for sales to Asia, according to traders, who received a notice from the state oil company SOMO. The […]

Hurricane Harvey is wreaking havoc with oil markets

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US gasoline up nearly 7% as storm bring refinery closings Dollar extends falls amid clouded economic outlook European stocks open lower, hurt by strong euro Asian markets subdued LONDON — US gasoline futures jumped to two-year highs while an already weak dollar hit 16-month lows against a basket of currencies on Monday as Tropical Storm Harvey […]

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@BrankoMilan For more information: @ASPOUSA @MaWackernagel Dennis Meadows Alice Friedemann Charles A.S. Hall @g_kallis And the very informative conferences of geologist Colin Campbell:… #Peakoil #Degrowth