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New Sanctions to Stall Exxon’s Arctic Oil Plans


Exxon Mobil’s ambitions in Russia appear to have been dashed, at least until the Ukraine crisis is resolved. As part of the latest round of sanctions against Russia, the United States government took aim at Exxon’s project in the Arctic Ocean, ordering American companies to cut off exports to Russian oil exploration within 14 days. […]

Data Avalanche and the ‘Great Crew Change’ in the Oil and Gas Industry

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In an August article for McKinsey Insights the authors – Stefano Martinotti, Jim Nolten, and Jens Arne Steinsbø – write that “the rapid progress of technology such as big data and analytics, sensors, and control systems offers oil and gas companies the chance to automate high-cost, dangerous, or error-prone tasks”, thereby positioning themselves to significantly […]

How Saudi Arabia Will Kick Its Oil Habit

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Why you should care Because the world’s largest oil producer will soon run out of the “good sh*t.” How Saudi Arabia handles the transition will be a case study for future students everywhere. Saudi Arabia, the Middle East’s biggest economy and the world’s largest oil producer, is running out of its black gold. Some estimate […]

Drillers Piling Up More Debt Than Oil Hunting Fortunes in Shale


Floyd Wilson raps his fingertips against the polished conference table. He’s just been asked, for a second time, how he reacted when his Halcon Resources Corp. (HK) wrote off $1.2 billion last year after disappointing results in two key prospects. Wilson once told investors that the acreage might contain the equivalent of 1.2 billion barrels […]

OPEC unfazed by oil’s drop below $100


OPEC members seemed unconcerned by a slide in oil prices below $100 a barrel on Monday, with two officials from the producer group saying winter demand in coming weeks should support the market. Brent crude fell below $100 a barrel for the first time in 14 months, buckling on concerns about slower economic growth. [O/R] […]

Tesla’s Gigafactory Finds a Home in Nevada

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In a press conference Thursday afternoon, Nevada Governor Brian Sandoval and Tesla Motors CEO Elon Musk announced that the company’s groundbreaking battery manufacturing facility (called a “Gigafactory”) will be located in Nevada. Shortly after Tesla announced plans to build the Gigafactory in February, several states in the southwest scrambled to compete for the final location. […]

BP, found grossly negligent, may face $18 billion in gulf spill fines

BP, found grossly negligent, may face $18 billion in gulf spill fines thumbnail

Energy giant BP’s willful misconduct and gross negligence led to the worst offshore oil spill in U.S. history, a federal judge said in a ruling Thursday that exposes the company to billions of dollars in civil penalties. The Deepwater Horizon drilling rig, which BP leased and operated, exploded and sank in the Gulf of Mexico […]

Soros Signals Argentina’s Shale is Biggest Place to Be


One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize – and a big boost for both supermajors and smaller players making big waves in the heart of new discovery areas. George Soros has doubled his […]

Trader Who Scored $100 Million Payday Bets Shale Is Dud

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Andrew John Hall — known as the God of Crude Oil Trading to some of his peers — has built his success on a simple creed: Everyone who disagrees with him is wrong. For most of the past 30 years, that has been a killer strategy. Like a poker player on an endless hot streak, […]

Musings on the Second Great Recovery Experiment and the Promise of Natural Gas


Like the economy as a whole, the Muhlenkamp Fund is still struggling to extricate itself from the morass of the Great Recession. Ron Muhlenkamp, founder of Muhlenkamp & Co. Inc., sees a forerunner to this downturn in the 1980–82 recession. In this interview, he tells The Energy Report how good policy ended the earlier slowdown […]

Saudi Aramco will spend $3 billion on shale gas development


Four companies have expressed interest in bidding for work on unconventional gas in Saudi Arabia as the world’s top oil exporter pushes ahead with plans to develop challenging shale deposits, industry sources said. The companies are South Korea’s GS Engineering and Construction, Italy’s Maire Tecnimont, Japan’s JGC and Canada’s SNC-Lavalin, the sources told Reuters. State-run […]

A Big Summer Story You Missed: Soaring Oil Debt

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Some of the summer’s biggest news stories took place in the bombed schools of Gaza, the abandoned hospitals of the Democratic Republic of Congo, the wheat fields of eastern Ukraine and the bloody mountains of northern Iraq. But one of the most important made virtually no headlines at all, and seemed to only appear on […]

Is Henry Hub Obsolete As The National Price Benchmark?

Is Henry Hub Obsolete As The National Price Benchmark? thumbnail

Summary The changing structure of the market for natural gas makes price realizations by producers in the Marcellus/Utica region disconnect from traditional benchmarks. The Henry Hub pricing no longer adequately describes producer economics or producer behavior in the increasingly important Northeast region. While Henry Hub will preserve its prominence as the key national benchmark, a […]

Platts mulls change in oil benchmarks to tap growth in Asia


* Platts proposing FOB Straits benchmarks to replace FOB Singapore * New benchmarks aimed at storage growth in Malaysia, Indonesia * Move could boost liquidity and lower storage costs -traders Oil pricing agency Platts is consulting with traders on proposed changes to its key oil product benchmarks in Asia to include ports in Malaysia and […]

Oil ‘super spike’ is coming


Another bad day for traders bullish on energy as WTI crude oil slid 2%, hitting its lowest level since January. Across the pond Brent crude traded at its lowest level in almost 14th months. From the heady days of mid-2008 when it traded at nearly $150 a barrel, crude oil has had quite a rocky […]

Opening the Multi-Trillion Dollar Market for Energy Management


Energy management is one of the most important parts of our changing energy landscape. It is a market made up of part energy efficiency, part Big Data solution and part Internet of Things. Energy management will be a multi-trillion dollar industry that will reverberate across industrialized economies.  The competitive advantage in virtually every economic sector will […]

The Shale Sugar Lick

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A well known American comedian, Ron White, quips about the amount of sugar Americans eat by suggesting that certain restaurants install a sugar lick. Patrons can “belly up” and take their fill at the trough. Such an analogy might be apropos of some shale operators with regard to their addiction to debt. A useful metric […]

Billions in oil investments at risk from low crude prices


More than half a trillion dollars of investments in major oil projects over the next decade are at risk from high costs and low crude oil prices, an environmental think tank said on Friday, warning that shareholders’ returns could suffer. To meet anticipated future demand, oil majors including BP , Chevron, and Eni, are spending […]

The Oil Market QE Premium Is Coming out of Price

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The Fed Giveth & Taketh with Policy The Fed may pat themselves on the back for creating the ‘wealth effect’ in stocks, and hope like heck that some of this wealth trickled down and through the rest of the economy, but it is quite evident what the Fed giveth on one hand they taketh away […]

Exxon Drilling Russian Arctic Shows Sanction Lack Bite


Sanctions, what sanctions? Exxon Mobil Corp. will start drilling a $700 million well in the Arctic Ocean tomorrow, Russia’s government said, showing that for all the talk of action against Vladimir Putin’s oil industry, the largest U.S. energy company is undeterred. As Russia’s relations with Europe and the U.S. deteriorated to the lowest point since […]

How The Destruction Of The Dollar Threatens The Global Economy


The following book excerpt is adapted from Chapter One of Money: How The Destruction of the Dollar Threatens The Global Economy – and What We Can Do About It, by Steve Forbes and Elizabeth Ames The failure to understand money is shared by all nations and transcends politics and parties. The destructive monetary expansion undertaken […]

Oil giants evacuate Iraqi Kurdistan

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Shares of energy companies operating in Iraqi Kurdistan plunged on Thursday and two U.S. companies evacuated some staff as Islamic State militants advanced within 45 kilometers (28 miles) of Arbil, a key hub for oil producers. Companies that produce oil in the semi-autonomous region, including Oslo-listed DNO ASA, as well as London-listed Gulf Keystone Petroleum […]

Venezuela Selling US Oil Company Citgo

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Venezuela’s government has confirmed that it is considering the sale of its oil refining and distribution network in the U.S. amid a worsening economic crisis. Analysts said the proposed sale reflects the socialist government’s urgent cash shortage. Last week, the state-owned oil company Petroleos de Venezuela SA signaled its interest in a finding a buyer […]

CFTC Sets $13 Million Pact in Crude-Oil Case


U.S. commodity regulators settled an oil-market-manipulation case stemming from the 2008 price run-up against three companies and two traders for $13 million, a fraction of what authorities alleged they made in profits from the strategy. The Commodity Futures Trading Commission said in an announcement, issued Tuesday night, that Parnon Energy Inc., Arcadia Petroleum Ltd., Arcadia […]

Shale gas: ‘The dotcom bubble of our times’

Shale gas: ‘The dotcom bubble of our times’ thumbnail

Comment: output from shale wells declines so quickly that they will never be profitable – when investors realise this, the industry will collapse, writes Tim Morgan Public opinion has been divided very starkly indeed by the government’s invitation to energy companies to apply for licences to develop shale gas across a broad swathe of the […]

Internationalists Are Pushing The World Towards Globally Engineered Economic Warfare

Internationalists Are Pushing The World Towards Globally Engineered Economic Warfare thumbnail

Over a year ago I published an essay entitled ‘The Linchpin Lie: How Global Collapse Will Be Sold To The Masses’. This essay addressed efforts by the ever malicious Rand Corporation to create a false narrative surrounding the possibility of global collapse. Linchpin Theory, as it was named by it’s originator and Rand Corp. employee, […]

Why We Keep Circling Back to Natural Gas

Why We Keep Circling Back to Natural Gas thumbnail

It doesn’t matter what’s going on in the global markets. Like a lion stalking its prey, our commodities coverage keeps circling back to the natural gas sector. For several reasons… Consumer demand is set to grow annually, as more homes adopt cheaper sources of energy. The electricity generation sector is also poised to grow, as […]

Warren Buffett Really Likes Oil Trains — Despite the Explosions

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The people in the Musi-Café had no idea what hit them. At about 1am on July 6, 2013, a train parked on a slope a couple miles awayslipped its brakes. Seventy-two tank cars loaded with crude oil accelerated into the town of Lac-Mégantic, Quebec and began to tumble off the tracks, detonating and burning with […]

Yukos shareholders say would talk to Russia over $50 bln


Shareholders of former Russian oil producer Yukos would be willing to discuss with Russia a court’s decision to award them $50 billion in compensation, a spokesman for holding company GML said on Tuesday. “We have always been ready to negotiate with the other side. GML made many attempts to do so ahead of initiating this […]

Oil Prospectors Shift Back to Wealthy Lands

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Firms Find Developed World’s Stability, New Incentives Yield More-Predictable Returns WELLINGTON, New Zealand—In this land of towering peaks and gurgling streams, Simon Bridges wants to be lord of the rigs. As New Zealand’s resource minister, Mr. Bridges is the man behind New Zealand’s big-oil aspirations. He travels the world to pitch New Zealand to petroleum […]

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