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Oil Companies Exploiting Famine And Financial Ruin In South Sudan

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South Sudan’s vulnerable financial state is making the civil-war-torn state easy prey for opportunistic oil and gas companies that could be offering Juba a fraction of the energy profits they would earn under stable circumstances. The South Sudanese government and three humanitarian agencies declared a famine in some parts of the country in February, while […]

Oil majors’ reserves are shrinking and investors don’t mind


As crude prices recover, oil majors face a dilemma – how quickly should they seek to replenish reserves? It’s the same question the cyclical oil industry has tackled many times before: go too fast and risk spending too much for little reward, go too slowly and your rivals will be better positioned to grab market […]

Chevron executive pay rises

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Compensation for three of Chevron Corp’s (CVX.N) senior leaders, including Chief Executive John Watson, rose last year due to a change in how the value of pensions are calculated. The disclosure, required by U.S. regulators, comes as the oil industry grapples with low prices and Chevron, the second-largest U.S.-based oil producer, tries to bounce back […]

Oil – Expect More Uncertainty


Summary In this article, I decided to go over some weekly oil statistics that cover production, demand, inventories, etc. I found a mixed but slightly bearish picture facing the industry, but demand figures suggest that there is still some bullish data out there. I also looked at export data and figured that, with regulatory changes […]

Geopolitical Risk Premium Is Back In Oil


WTI and Brent jumped to one month highs on the news of U.S. airstrikes in Syria, and while direct risks to oil supply are limited, oil traders are on edge. (Click to enlarge) The U.S. launched airstrikes on a Syrian airbase late Thursday in response to the alleged use of chemical weapons by the Syrian […]

Where Do Oil, Gas Professionals Want to Work?


North America, the Middle East and Europe are the top three regions where oil and gas professionals would like to work, according to the first Global Energy Talent Index (GETI). The survey revealed that 22 percent of voters said North America was their top location, compared to 22 percent for the Middle East and 21 […]

The Secret History of Wall Street’s Largest Oil Trade


The men huddled in the same first-floor conference room as always, only this time they’d decided to make their annual oil bet bigger and bolder than ever before. Fewer than a dozen representatives from three Mexican government ministries and Petróleos Mexicanos, the state energy company, were about to make a wildly contrarian play. If it paid […]

Oil’s Central Bank To The Rescue!


WTI rallied back into $50 territory this week with help from positive OPEC speak regarding an output cut renewal, production outages in Libya, Iraq and Canada and compliance levels on output cuts near 95% (via Reuters) for March. We continue to be believers in flat price strength thinking that high levels of OPEC compliance and […]

Determining the Oil Market’s Path of Least Resistance


In “Futures in Focus,” Dan Deming, managing director at KKM Financial, and Bloomberg’s Mark Barton examine the factors shifting momentum in the oil market. They speak on “Bloomberg Markets.”

ConocoPhillips just proved low oil prices are here to stay


Jim Cramer saw ConocoPhillips’ sale of a portion of its oil sands to Canadian producer Cenovus as a sign that the oil glut will keep prices low for a while. “In one fell swoop ConocoPhillips confirmed a lot of what’s become the conventional wisdom in the oil patch: the price of crude’s not going to […]

Saudi Aramco’s $2 Trillion Valuation Has Too Many Assumptions


Changing a tax system that has endured since the 1970s is no small matter, especially when it concerns what could be the world’s most valuable company. Saudi Arabia’s announcement on Monday that it was cutting the tax rate on large oil companies to 50 percent from 85 percent is crucial for the fate of the […]

Goldman Sachs in Talks for Saudi Arabian Equities License


U.S. bank said to hold preliminary discussions with regulators Goldman Sachs has yet to file an application for the license Goldman Sachs Group Inc. is in preliminary talks for an equities license in Saudi Arabia as the U.S. lender seeks to take advantage of the country’s economic reforms, according to people familiar with the matter. […]

Oil giants upending American shale turf


Big Oil is muscling in on shale country. ExxonMobil, Royal Dutch Shell and Chevron are jumping into American shale with gusto, planning to spend a combined $10 billion this year, up from next to nothing only a few years ago. The giants are gaining a foothold in West Texas with such projects as Bongo 76-43, […]

Can Big Oil Survive A CO2 Crackdown?


Over the long run, the oil business is under threat. There are various arguments about why that might happen. Peak supply people argue we are running out of oil. Peak demanders say that market saturation, efficiency, and new technologies will cause oil demand to peak and decline. Similarly, clean energy proponents argue oil will be […]

Saudi Arabia Downgraded By Fitch To A+ On Soaring Fiscal Deficit, Deteriorating Balance Sheet


With Saudi Arabia scrambling to respond to surging US shale production in what many analysts warn is a lose-lose decision, as either Saudi Arabia will lose market share under the current status quo, or government revenue will tumble should the Vienna 2016 production cut deal be cancelled, moments ago Fitch poured some fuel on the […]

Big Oil’s Plan to Buy Into the Shale Boom


Exxon, Shell, and Chevron plan to spend $10 billion in the U.S. shale patch this year. A gas flare is seen through the window as Royal Dutch Shell’s Scott W. Scheffler drives near Mentone, Texas, in Loving County situated in a central portion of the Delaware Basin, on Thursday, March 2, 2017. Photographer: Matthew Busch/Bloomberg […]

The Great Battery Race

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he coming of cheap and effective lithium-based batteries will cause the greatest changes in the energy and automobile sector since Henry Ford built the model T, writes Gerard Reid, founding partner of Alexa Capital, financial analyst and co-founder of the Energy and Carbon blog. But European countries like Germany and France have no significant production, in […]

Exxon Could Use An Oil Price War


If Saudi Arabia’s saber-rattling leads to renewed price warfare in the oil market this year, then everyone involved will suffer — except you drivers, of course. And Exxon Mobil Corp. Exxon does not actually like getting lower prices for its primary product; its cash flow has been cut in half over the past two years. […]

Why I Totally Hate Big Oil – And Why You Should Too…

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Did you hear the speech that Al Gore gave in Texas the other day saying that the oil industry should take climate change more seriously, that oil could peak in the next decade, that the “social acceptance” for oil was disappearing, that there needed to be a meaningful tax on carbon emissions and that he “strongly supported” […]

Big Oil’s Big Climate Divide


Among other things, carbon dioxide contributes enormously to cognitive dissonance. Scott Pruitt, head of the Environmental Protection Agency, demonstrated as much last week when he expressed doubts about the role of carbon dioxide emissions in fostering climate change. Only in January, the then-unconfirmed Pruitt was telling senators that “human activity” had a role in climate […]

Trillion-dollar question looms as Aramco audits oil reserves

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* One auditor working towards completing report by year-end * Listed reserves haven’t changed in nearly 30 years * Falih says reserves could be bigger than those already booked * Disclosures likely to resemble those of BP and Shell * Market will not get detailed information by field – sources When Saudi Aramco reveals a […]

Southern Communities Brace for the Impact of Big Oil’s Expansion Plans

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President Donald Trump kicked off this week with a Monday morning tweet hailing — and seeming to wrongly take credit for — Exxon Mobil’s plan for a $20 billion expansion of its refineries, chemical plants and liquefied natural gas operations along the U.S. Gulf Coast. “We are already winning again, America!” Trump tweeted after the Texas-based company released the latest […]

Could Saudi Arabia Cancel Aramco’s IPO?

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As oil prices decline, the lead underwriters of Saudi Aramco’s initial public offering (IPO) must be wondering if the Saudi government will change its mind about privatizing the company in 2018. U.S. crude fell again on Thursday, settling at $49.28 per barrel, lowest close since November. Fitch Ratings revised their WTI crude oil price forecasts […]

Lebanon looks to develop oil industry

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A major energy summit is being held in Lebanon, where politicians and business leaders are discussing how to kick-start the oil industry. Huge reserves of gas and oil lie beneath Lebanese waters in the eastern Mediterranean, but years of war and political problems have prevented efforts to tap those resources. “With these oil reserves we […]

What the Saudi Aramco sale says about the state of the oil industry


As the oil and gas industry gathers in Houston for CERAWeek, a major annual event, geopolitical drivers to oil prices will be a focus. U.S. shale producers will be particularly attuned to backroom discussions about how Saudi Arabia and Russia are viewing new indications of restored momentum in drilling in the U.S. tight oil patch. […]

BP sets oil price breakeven target at $35 a barrel


BP PLC on Tuesday laid out plans to drive its break-even oil price down to $35 to $40 a barrel by 2021, asserting that it can grow again and keep a lid on spending despite a massive bill from its Gulf of Mexico disaster six years ago. In a strategic update that detailed the company’s […]

Cooking The Books? Saudi Aramco Could Be Overvalued By 500%


The world’s most valuable oil company, Saudi Aramco, is approaching its first IPO in 2018, as the government of Saudi Arabia prepares to sell off portions of the company in order fill a sovereign wealth fund crucial to the country’s transition away from an oil-based economy. Saudi Aramco is worth $2 trillion, according to Riyadh, […]

Losing 4.3 Billion Barrels Is Good For Exxon

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Losing 4.3 billion barrels of reserves could be just what Exxon Mobil Corp. needed. There’s no denying that having almost one in five barrels of oil equivalent of your proved reserves slip off the books, as Exxon announced this week, isn’t the company’s finest hour. Coming just after Exxon took a $2 billion asset impairment, it looks […]

Shell shakes up oil trading world with brash buying sprees

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The giant tankers anchored along the Scottish coast in the Firth of Forth weren’t going anywhere. They were just providing floating storage because there was no demand for their cargo, North Sea crude oil. But the flickering computer screens in the world’s trading rooms told a different story. Prices through the month of April were jumping, […]

Saudi Aramco Favors New York for IPO


Saudi Arabia is leaning toward listing its giant, state-run oil company in New York, having soured on the idea of floating its shares on an Asian stock exchange, The Wall Street Journal reported Monday citing people familiar with the matter. The world’s largest oil company is also considering listing its stock in London or Toronto, according […]

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