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Oil Industry To Waste Trillions As Peak Demand Looms

Business

ExxonMobil and its peers risk blowing $2.3 trillion on oil projects that will not be needed if the world hits peak demand in the next decade. A new report from The Carbon Tracker Initiative analyzed what would happen if the oil market saw demand peak by 2025, a scenario that would be compatible with limiting […]


OPEC Looks Totally Bewildered by the Oil Market

OPEC Looks Totally Bewildered by the Oil Market thumbnail

It may be too soon to write OPEC’s obituary, but the oil producer club appears in urgent need of late-life care. It shows little understanding of where it is, how it got there or where it’s going. While it still manages to collect new members here and there, its core group looks more fragile than […]


Digitalization in Energy: Disrupt or Be Disrupted

Digitalization in Energy: Disrupt or Be Disrupted thumbnail

The oil and gas industry is not seen as an industry quick to embrace new technologies. Several factors influence this conservative attitude, including safety challenges, complex systems, and a vast amount of investment. But if there’s any doubt about the changing landscape, a panel of experts at this year’s Offshore Technology Conference (OTC) in Houston […]


The elephant in the room —our population

Business

India’s ‘demographic dividend’ is a myth. Resources are under stress, be it health or education. The government must act If you ever doubted the power of compounding, just take hum do humaare do and poof, magically you have 1.3 billion! Let’s face it, India’s enormous population is at that tipping point — a little north […]


The Global Oil & Gas Industry Is Cannibalizing Itself To Stay Alive

The Global Oil & Gas Industry Is Cannibalizing Itself To Stay Alive thumbnail

While the Mainstream media continues to put out hype that technology will bring on abundant energy supplies for the foreseeable future, the global oil and gas industry is actually cannibalizing itself just to stay alive.   Increased finance costs, falling capital expenditures and the downgrade of oil reserves are the factors, like flesh-eating bacteria, that […]


Peak Oil? What Peak Oil?

Peak Oil? What Peak Oil? thumbnail

Look At What Statoil Is Doing — Look At What Iraq Is Doiing — June 13, 2017 Active rigs: $45.93 6/13/2017 06/13/2016 06/13/2015 06/13/2014 06/13/2013 Active Rigs 53 28 75 185 185 RBN Energy: the series continues — Appalachia gas supply vs takeaway capacity. Bakken takeaway: pipelines can now handle all of the current Bakken […]


‘Coal is dead’ and oil faces ‘peak demand,’ says world’s largest investment group

Business

BlackRock investment group, with $5 trillion in assets, is bullish on electric cars and renewables. U.S. coal production is at lowest level since 1978. CREDIT: EIA “Coal is dead,” Jim Barry, the global head of BlackRock’s infrastructure investment group, explained in a recent interview. BlackRock, the world’s largest investment group, with $5 trillion in assets — more than […]


Oil Companies Could Go Bankrupt If Oil Falls, Stays Below $45

Business

Technological advances and deflationary pressure from the downturn have resulted in an 8-percent drop in global average unit production cost to US$30 per barrel of oil equivalent in 2016, which implies that the industry needs the price of oil at US$45 to break even in aggregate, according to a Bernstein Research survey of the 50 […]


How the Aramco IPO will make history and transform Saudi Arabia’s economy

How the Aramco IPO will make history and transform Saudi Arabia’s economy thumbnail

The US and Saudi Arabia have signed hundreds of billions of dollars worth of business deals following Donald Trump’s trip to the oil-rich state. The biggest deal was for nearly US$110 billion worth of weapons (extending to US$350 billion over ten years). But a number of smaller agreements were made between Saudi and US firms, […]


Big Oil Is Betting on Plastics. It May Be a Risky Bet.

Business

Big Oil is betting on plastics. In a world awash with oil, and amid mounting consensus that demand for oil-based transport fuel for automobiles might decline over time, the world’s largest oil companies are counting on a rising need for petrochemicals. There’s some justification for that. McKinsey & Co.’s projected demand for oil to make […]


The Rise of the Amateur Oil Sleuths

Business

On a recent Sunday evening, Samir Madani had dinner with his family in suburban Stockholm, did the dishes and put his two children to bed. Then he opened his laptop and started crunching U.S. oil import data late into the night. Mr. Madani, a technology executive who trades and researches crude as a hobby, is part of a growing […]


Will Exxon Mobil Buy BP?

Business

Summary Exxon Mobil holds the best balance sheet; thus, is in a position to consolidate the industry. Big deals have happened when oil prices were low. BP is very cheap relative to the huge reserves the company owns. XOM could finance such an acquisition relatively easily via a 50% equity/50% cash deal. Regulatory headwinds and […]


The oil and gas industry has a problem – and the industry knows it

Business

Oil and gas company executives believe that they’re doing right by the world. Most people disagree. In a survey conducted by the consulting firm EY, 75 percent of oil and gas executives rated themselves as good corporate citizens. But only 37 percent of the general public said the oil industry can be trusted to do […]


Saudis To Retain Full Control Over Aramco’s Oil After IPO

Business

Saudi Arabia will continue to have full control over the oil wells and production of Aramco, after the much-anticipated initial public offering of around 5 percent of the Saudi oil giant next year, Deputy Crown Prince Mohammed bin Salman said on Tuesday. “The wells will still be owned by the government. The company only has […]


Junk-Bond Armageddon

Business

In recent years, whenever U.S. credit markets have become mired in boredom and melted up out of sheer habit, traders start worrying about junk-bond bubbles. Now is no different. It has been a notably unremarkable year for credit traders despite populist upheavals in Europe and the U.S. and subsequent unpredictable policies and rhetoric. Meanwhile, yields […]


A $500 Billion “Hitch” Emerges In The Saudi Aramco IPO

A $500 Billion “Hitch” Emerges In The Saudi Aramco IPO thumbnail

As Saudi Arabia’s deputy crown prince pushes his nation’s Vision 2030 economic overhaul and crows of the $2 trillion Saudi Aramco valuation (ahead of its potential IPO), WSJ reports that officials at the state-owned oil company are using internal value estimates to $1.3 to $1.5 trillion, calling bin Salman’s estimate “unrealistic and mind blowing.” Since […]


Space May Be Next Frontier for Earth’s Crude Oil Giants

Business

The Middle East has an outsize impact on energy here on Earth. One analyst thinks some regional powerhouses may leverage that role into the development of natural resources in space. Countries like the United Arab Emirates and Saudi Arabia are developing space programs and investing in nascent private space commodity initiatives, said Tom James, a […]


Who wants to be rich like a sheikh?

Business

Long before the Russians blinded English society with their conspicuous wealth, it was the Arabs descending on Europe’s capitals in the 1970s who became proverbial for their prodigious wealth: “Rich like an oil sheikh,” said the gawping crowds as they watched the princes in their floating garments checking into the most luxurious hotels, showering bell […]


Oil Companies Exploiting Famine And Financial Ruin In South Sudan

Oil Companies Exploiting Famine And Financial Ruin In South Sudan thumbnail

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

Business

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

Chevron executive pay rises thumbnail

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

Business

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

Business

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?

Business

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

Business

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!

Business

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

Business

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

Business

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

Business

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

Business

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. […]


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