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Inside Aramco – The World’s Most Profitable Company

Business

Maybe the Aramco IPO will move forward after all. In the weeks since Aramco put the word out that it would cancel (or possibly just delay) a foreign offering of 5% of the company’s shares, Saudi Crown Prince Mohammad bin Salman has met with Silicon Valley luminaries, as well as the leaders of the UK, […]


Shanghai Oil Futures Off To Robust Start On 2nd Day

Business

Shanghai crude oil futures got off to another strong start in their second day of trading on Tuesday, with more than 16 million barrels of crude changing hands, extending the launch day’s high volumes, data showed. More than 32,000 lots of the most-active September contract, equivalent to 16 million barrels of crude, changed hands in […]


‘PetroYuan’ Futures Launch With A Bang, Volume Dominates Brent As Big Traders Step In

Business

As we detailed previously, China’s yuan-denominated crude oil futures launched overnight in Shanghai with 62,500 contracts traded in aggregate, meaning over 62 million barrels of oil changed hands for a notional volume around 27 billion yuan (over $4 billion). As OilPrice.com’s Tsvetana Paraskova notes, Glencore, Trafigura, and Freepoint Commodities were among the first to buy the […]


The World’s Largest Oil Traders Are Shifting Strategy

Business

  The world’s largest independent oil trader, Vitol, is looking to secure long-term deals with some of the biggest oil-producing countries in the Middle East, in what has become a challenging wider oil-trading market. Vitol is in discussions to seal either joint venture, or long-term offtake and supply agreements with Abu Dhabi, Bahrain, and Kuwait, […]


The Oil Canal That May Never Be

Business

People have conceived of linking the gulf of Thailand with the Andaman sea for around 300 years but, as of yet, such plans have remained firmly in the realm of fantasy. Dividing the peninsula of Thailand is obviously a massive undertaking, which is certain to have its proponents and opponents, past, present and future. Reasons […]


The Truth About Aramco’s $2 Trillion Valuation

Business

Two trillion dollars: this was the price tag Riyadh put on the jewel in its crown, state oil and gas giant Aramco. This is how much the company was worth, officials said, if you multiplied its proven reserves by a factor of US$8, which is the figure used to value oil and gas reserves. There […]


Statoil Kicking ‘Oil’ From Name, Rebranding as ‘Equinor’

Business

Statoil ASA, whose North American portfolio stretches from Canada’s offshore to the Gulf of Mexico (GOM), unveiled plans Thursday to rebrand as “Equinor” to reflect a broader energy strategy that elevates alternative energy and downgrades fossil fuels. “Equinor” would combine “equi” (equal, equality and equilibrium) and “nor,” a nod to its roots. The supermajor is […]


Shell CEO’s Salary Increases

Business

The salary of Royal Dutch Shell plc’s CEO, Ben van Beurden, was raised by 2.5 percent in 2018, the company’s latest annual report revealed. Effective from January 1 this year, the base salary of Shell’s CEO was set at $1.883 million (EUR 1.527 million). The company’s chief financial officer, Jessica Uhl, also saw a salary […]


Saudi Aramco international share sale might never happen

Business

(Reuters) – (John Kemp is a Reuters market analyst. The views expressed are his own.) Saudi Aramco’s [IPO-ARAM.SE] partial privatization has loomed over the oil market for the last two years, influencing expectations about oil prices, but what if it never happens? The possibility of selling a minority stake in the giant oil company was […]


Saudi Oil Minister Says Aramco IPO Could Be Delayed to 2019

Saudi Oil Minister Says Aramco IPO Could Be Delayed to 2019 thumbnail

Saudi Arabia’s energy minister hinted the initial public offering of the state oil company Aramco could be delayed until 2019, pushing back a central plank of Crown Prince Mohammed bin Salman’s plan to modernize the economy. Khalid Al-Falih also said the IPO, potentially the largest ever, would be “anchored” by a listing on Saudi Arabia’s […]


How China Is About to Shake Up the Oil Futures Market

Business

China, the world’s biggest oil buyer, is opening a domestic market to trade futures contracts. It’s been planning one for years, only to encounter delays. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay […]


Exxon CEO struggles to reverse Tillerson’s legacy of failed bets

Business

Exxon Mobil Corp’s (XOM.N) $200 million write-down last month on abandoned ventures in Russia – once its next big frontier – points to challenges facing Chief Executive Darren Woods in his second year leading the world’s largest publicly traded oil producer. Some of the biggest bets taken by his predecessor Rex Tillerson, now the U.S. […]


Energy leaders gather in Houston for the ‘Oil Man’s Davos’

Business

Around 4,000 leaders of the global energy industry will gather in Houston, Texas today for the CERA Week forum — the annual event that has been called the “Oil Man’s Davos.” Top of the agenda, under the theme “Tipping Point — Strategies for a new energy future,” will be the new dynamics of the oil […]


Royalties: Why Some Strike It Rich In The Natural Gas Patch, And Others Strike Out

Business

Marie Cusick / StateImpact Pennsylvania Jim Barrett stands next to a wellpad on his farm in Bradford County. He says Chesapeake Energy, which drilled four natural gas wells on his land, is cheating him out of royalty money. When natural gas companies approached Charlie Clark and Jim Barrett about the minerals under their farms, the […]


Bribery in the Energy Market – More than Bags of Cash

Bribery in the Energy Market – More than Bags of Cash thumbnail

At the mention of corruption in oil and gas, it’s easy to first think of scandals such as the billion-dollar securities settlement from Brazil’s state-owned oil company Petrobras, but truth is, following the industry downturn, energy service companies remain eager to jump at new opportunities in international markets. With increased competition for these emerging opportunities […]


In Search Of Investors, Saudi Arabia’s Crown Prince Is Coming To America

Business

Mohammed bin Salman bin Abdulaziz al Saud, the Crown Prince of Saudi Arabia, will be leaving his kingdom next month for a three-week charm tour. His agenda hasn’t yet been revealed, but sources say MbS (as he’s known) will start his tour March 7 in London, then head to New York, Washington, San Francisco and maybe […]


How does KFC run out of chicken?

Business

How on earth does a fast food restaurant that specializes in chicken run out of … chicken? This week KFC temporarily closed up to 800 stores in the UK and Ireland after a failure in its supply chain for chicken. KFC had recently switched delivery and logistics suppliers from Bidvest Logistics to DHL (DPW). It was a […]


Mideast Strife Is Cash Positive For U.S. Natural Gas — And Chinese Coal

Business

By Jim Krane Over the years, America’s involvement in the strife-ridden politics of the Middle East has brought a lot of heartache. By one measure, however, Americans’ luck in the Middle East has improved. It’s not that political divisions have mended. It’s that U.S. natural gas producers have found a way to capitalize on those […]


City of London financiers contemplate “imminent” 2018 US stock market crash of up to “50%”

Business

Coming dramatic decline of US stock prices would trigger global recession, finds grim forecast to be explored at roundtable hosted by British financial services think-tank Published as part of the launch of the new beta platform for INSURGE intelligence, a crowdfunded journalism platform for people and planet. A new analysis published on the website of a […]


Flare Mining – Turning Waste Natural Gas into an Alternative Store of Value

Business

Flare Mining’s innovative, flare gas capture and processing systems turn raw associated gas and from a waste into digital currency income. Gas flaring is the combustion of associated gas produced with crude oil or from gas fields. The impact of gas flaring is of local and global concern. Gas flaring is one of the most […]


Exxon plans major US investments due to tax reform

Business

Exxon Mobil Corp (XOM.N) plans to invest billions of dollars in the United States due in part to recently approved corporate tax rate cuts, the company’s chief executive said on Monday. A logo of Exxon Mobil is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell […]


I Have Seen the Future’s Best-Selling Autonomous Vehicle, and It’s Not What You Think

I Have Seen the Future’s Best-Selling Autonomous Vehicle, and It’s Not What You Think thumbnail

The race to make fully autonomous vehicles is on. Technology companies like Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL), Nvidia (NASDAQ: NVDA), and Intel (NASDAQ:INTC); ride-sharing services like Uber and Lyft; and seemingly every auto manufacturer are putting in serious work to get a self-driving car on the road. While all eyes in the U.S. are on promising projects — […]


Big Oil flush with cash again, but no party yet

Business

The world’s top oil companies are expected to generate more cash in 2018 than at any other time this decade after three painful years of cuts, but it isn’t party time yet. The shift in sentiment has been rapid as crude prices have risen by more than 50 percent over the past six months to […]


Banks expected to share tiny proportion of mammoth Saudi Aramco IPO

Banks expected to share tiny proportion of mammoth Saudi Aramco IPO thumbnail

The banks that will advise and execute Saudi Aramco’s stock market listing are expected to share a tiny proportion of the $100 billion Riyadh hopes to raise in its initial public offering, according to banking sources and industry insiders. Investment banks involved in the listing IPO-ARMO.SE are expected to share a fifth of a percent […]


Buy Oil, Make Money

Business

The last time I got into a row over oil prices with Christian DeHaemer, the U.S. oil industry was in a far different state. It was years ago, before the Bakken in North Dakota became a household name. Back then, our shouting matches would reach a crescendo in the office, and he just happened to […]


Texas oil tycoon Pickens closing energy hedge fund

Texas oil tycoon Pickens closing energy hedge fund thumbnail

Oil tycoon T. Boone Pickens is throwing in the towel on his energy focused hedge fund after a 22-year-long “roller coaster ride.” “It’s no secret the past year has not been good to me, from a health perspective or a financial one,” Pickens wrote in a Linkedin post Friday, referring to the series of strokes […]


Five oil market myths that need dispelling

Business

The oil market has come to be defined by several narratives over the past couple of years: market rebalancing, OPEC versus shale, Russia’s delicate relationship with OPEC, OPEC’s conformity with production cuts with the latest deal extension running to end of 2018 and shale’s resilience to lower prices. But these frameworks have created a narrow ideology that could […]


China Is About To Shake Up Oil Futures

Business

The “huge story”, as Graticule’s Adam Levinson called it, will, it appears, be a “wake up call” for the West that seems to happily be ignoring this potential bombshell that is China’s looming launch of domestic oil futures trading. Additionally, Levison warns Washington that besides serving as a hedging tool for Chinese companies, the contract will aid a broader Chinese government agenda […]


BP Expects U.S. Earnings Uplift From Tax Reform

Business

Oil giant BP will take a one-off $1.5 billion charge to adjust to new U.S. tax rules, joining rival Royal Dutch Shell and other companies, but expects a long-term boost from the corporate-friendly tax rates, it said on Tuesday. The massive $1.5 trillion tax overhaul that U.S. President Donald Trump signed into law last month […]


Why water will become the world’s most important asset

Business

“Water will eventually become the single most important physical commodity-based asset class, dwarfing oil, copper, agricultural commodities and precious metals”. That was economist and ex-Bank of England MPC member Willem Buiter more than six years ago. You could say he was a bit early in his forecast. While water is vital for life, it hasn’t […]


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2. Worse still, oil exports from exporting countries will now collapse much faster than their production declines. #PeakOil & its direct (economy destroying) consequences are MORE serious for the global economy than #climatechange. Next 20+ years will look like The Walking Dead

1. From 2018+, you'll now see CONSTANT global economic contraction until underlying basis of global economy (#hydrocarbons for everything that moves) changes. Rapid growth in domestic consumption of oil-exporting countries means LESS will be available for export... #PeakOil

and you thought #peakoil was gonna to cause social upheaval.... twitter.com/ReutersBiz/sta…

This is what #peakoil looks like - Remember this graph because it's one of the main reasons why we're all going to hell and back. There is NO WAY we can offset those kinds of energy decline. I mean NO CHANCE, ZERO, NONE.

test Twitter Media - This is what #peakoil looks like - Remember this graph because it's one of the main reasons why we're all going to hell and back. There is NO WAY we can offset those kinds of energy decline. I mean NO CHANCE, ZERO, NONE. https://t.co/MG58TnXHAQ

In the last two weeks, London #oil futures have increased by $7 a barrel, closing last week at $74.06 resilience.org/resilience-aut… #peakoil