Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Latest Production Headlines

OPEC To Rule Oil Markets Till Peak Demand

Production

More than a decade ago, China overtook the U.S. as the world’s biggest carbon dioxide emitter. Today, it’s going for a complete 360 with a hungry drive to beat the United States at the renewable energy game. After all, this is largely a technology game, and China hopes to be the global technology leader, according […]


Venezuela: The Key To Oil Prices

Production

Summary Venezuela oil production has plummeted. Where would oil prices be without Venezuela’s collapse? Where are oil prices headed next? This idea was discussed in more depth with members of my private investing community, Value Portfolio. The world is accelerating into an energy crisis, and in this article, I explore the country that has played […]


Ten years after oil peak, what has changed?

Production

July 11, 2008 was an unforgettable day for the oil industry. The price of West Texas Intermediate — a grade of crude oil used as a benchmark in oil pricing — hit an all-time high of $147 per barrel in New York. So, 10 years later, what has changed? There have been a few major […]


World’s Oil Cushion Could Be Stretched To The Limit, IEA Warns

World’s Oil Cushion Could Be Stretched To The Limit, IEA Warns thumbnail

The world’s oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday. The expected drop in Iranian crude exports this year due to renewed U.S. sanctions, coupled with a decline in Venezuela’s production and outages in Libya, Canada and […]


S. Arabia will be ‘Reluctant to Exhaust’ its ‘Substantial’ Spare Capacity

Production

Saudi Arabia will be “reluctant to exhaust” its “substantial” spare capacity, according to oil and gas analysts at BMI Research. “Questions are being asked as to the extent to which Saudi Arabia will increase its production, to offset shortfalls elsewhere in the market,” the analysts said in a report sent to Rigzone. “We believe that, […]


Potential supply shortages lead to oil prices increase

Production

Oil prices have increased due to a potential supply shortage in part due to sanctions, production losses, and impending strikes. Brent crude oil prices jumped 55 cents, or 0.7%, to reach $78.62 a barrel, continuing its upward growth after rising 1.2% on the previous day, while US light crude futures rose 47 cents, or 0.7%, to […]


EIA: U.S. Shortly to Become “the World’s Leading Producer of Crude Oil”

Production

The U.S. Energy Information Administration (EIA) proclaimed on Tuesday that, if its forecasts are correct, “the United States will average nearly 12 million barrels a day (mbd) … in 2019 … mak[ing] the U.S. the world’s leading producer of crude [oil].” Those forecasts could understate the U.S. oil industry’s production, as it builds into its […]


More on LTO Economics in the Bakken

Production

The goal for any commercial company is to make as high as possible profit and returns on invested (employed) capital, primarily the owners’ capital, equity. Light Tight Oil (LTO) extraction from the Bakken and Three Forks formations in North Dakota had a new high of 1,17 Mbo/d in Apr-18 according to data published in Jun-18 […]


US Oil Production 9% higher than peak in 1970 and will be about 20% higher next year

Production

US oil production set a new record back in February, 2018 to surpass the previous oil production peak set in the 1970s. EIA estimates that U.S. crude oil production averaged 10.9 million barrels per day (b/d) in June. EIA projects that U.S. crude oil production will average 10.8 million b/d in 2018, up from 9.4 […]


Saudi king said will boost oil output if needed

Saudi king said will boost oil output if needed thumbnail

The leader of Saudi Arabia promised President Donald Trump that he can raise oil production if needed and the country has 2 million barrels per day of spare capacity, the White House said on Saturday, rowing back on an earlier Trump tweet that appeared to suggest the Saudis had agreed to boost output by that […]


Natural Gas Execs See ‘Century Of Supply’ In US Shale

Natural Gas Execs See ‘Century Of Supply’ In US Shale thumbnail

Natural gas production from U.S. shale fields can keep growing for decades, giving Washington a powerful diplomatic tool to counter the geopolitical influence of other energy exporters such as Russia, industry executives and government officials said at a conference here. Already the world’s largest gas producer, the United States can expand shale gas output another […]


Michael Lynch: What Ever Happened To Peak Oil?

Production

A decade ago, the media was filled with stories about peak oil, numerous books were published on the subject (such as Half Gone and $20 a Gallon!), and even the Simpsons mentioned it in an episode about doomsday preppers.  Now, the topic is largely forgotten and the flavor of the month is peak oil demand.  […]


The Saudis Won’t Prevent The Next Oil Shock

Production

Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike. Saudi Arabia is moving quickly to head off a supply crunch, aiming to dramatically ramp up production to a record high 11 million barrels per day in July, according […]


Future of Big Oil Increasingly Shaped by Fate of Global Gas

Future of Big Oil Increasingly Shaped by Fate of Global Gas thumbnail

Big Oil’s fortunes are becoming tied more closely to natural gas than ever before. Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them trim Exxon Mobil Corp.’s lead as the world’s most valuable oil company. Meanwhile Chevron Corp. added two giant Australian liquefied […]


Saudi Aramco CEO Says Has 2 Mln Barrels Per Day Of Spare Capacity

Production

Oil giant Saudi Aramco said on Monday it has a spare capacity of 2 million barrels per day and can meet additional oil demand in case of any interruption in supplies. Aramco is currently producing 10 million barrels per day (mbpd) and has the ability to produce 12 mbpd, Amin Nasser, chief executive of Saudi […]


Saudi pledges ‘measurable’ oil supply boost as OPEC, Russia agree deal

Production

OPEC agreed with Russia and other oil-producing allies on Saturday to raise output from July, with Saudi Arabia pledging a “measurable” supply boost but giving no specific numbers. FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at OPEC’s headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger/File Photo […]


Oil Executive: Industry Needs ‘Another Iraq Or North Sea’ To Meet Demand Growth

Production

The global oil industry needs to find “another Iraq or North Sea every year” to plug the shortfall of oil supply as demand continues to grow, Majid Jafar, the chief executive of the UAE-based Crescent Petroleum, told CNBC on Thursday. According to the oil executive, the industry continues to see underinvestment as spending on exploration […]


Oil Ministers Back Raising Output Despite Iran’s Walk Out

Production

OPEC meets in Vienna on Friday in a final effort to overcome Iranian opposition to a preliminary agreement to boost production by a theoretical 1 million barrels a day — although the actual increase would be smaller as several countries are unable to raise output. Following night of drama in Vienna on Thursday, the Joint […]


OPEC Agrees Modest Hike In Oil Supply After Iran Softens Stance

Production

OPEC agreed on Friday on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. Two OPEC sources said the group agreed that OPEC and its allies led by Russia should increase […]


Pioneer Chairman Says Permian Faces Shut Ins on Pipe Shortage

Production

The biggest U.S. shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers, the head of one of the industry’s largest producers said. The worsening bottleneck in the Permian region that straddles west Texas and New Mexico offers an unexpected fillip to OPEC and […]


Peak Oil? What Peak Oil?

Production

I assume this had something to do with the Bakken revolution. Under the Hubbert peak oil theory, this was not supposed to happen. The theory, of course, won’t die. In fact, I doubt wiki will even update the facts. The Hubbert peak theory says that for any given geographical area, from an individual oil-producing region […]


Iran Says Three OPEC Members to Veto Saudi-Proposed Supply Boost

Production

Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. “Three OPEC founders are going to stop it,” Iran’s representative to the bloc Hossein Kazempour Ardebili said in comments to Bloomberg on […]


A look at Saudi Arabia and the new economics of oil

A look at Saudi Arabia and the new economics of oil thumbnail

There is absolutely no doubt that the next Opec ministerial meeting this week will pit Saudi Arabia and its Gulf allies against Iraq, Iran and Venezuela, three founder members of the oil exporters organisation. Saudi Arabia has increased its production 140,000 barrels a day above its 10.058 MBD output ceiling in the pact the kingdom […]


Rosneft Says $70-80 Oil ‘Comfortable’ Ahead of OPEC Talks

Production

Rosneft PJSC’s said crude at $70 to 80 a barrel was a “comfortable level” and expressed satisfaction with the results of Russia’s joint supply cuts with OPEC, just a week before talks that could phase them out. The producers working together have “restored balance to the market by cutting oil production,” Russia’s biggest oil company […]


A Closer Look at Drilling the ANWR

A Closer Look at Drilling the ANWR thumbnail

The passage of Public Law 115-97 in December 2017 required the U.S. Secretary of the Interior to administer a competitive oil and natural gas program for the leasing, development, production, and transportation of oil and natural gas in the Arctic National Wildlife Refuge (ANWR). Prior to the Trump Administration’s decision to open up the area, […]


Permian, Marcellus & Utica to Supply 55% of N. American Gas by 2030

Production

The Permian, Marcellus and Utica shale plays will supply 55 percent of the North American gas market by 2030. That’s the forecast of McKinsey Energy Insights (MEI) in their latest report “North America Gas Outlook to 2030.” Of the anticipated associated gas growth, about 60 percent is expected to come from the Permian. Currently, the […]


World Sets New Oil Production Record

Production

This week the 2018 BP Statistical Review of World Energy was released, which covers energy data through 2017. It is the definitive source for global energy production and consumption figures, and a primary source of data for numerous companies, government agencies and non-government organizations. I will take a deeper dive into the report in upcoming articles, […]


Permian Oil Production To More Than Double By 2023

Production

A new report by research firm IHS Markit says oil production from the Permian Basin of West Texas and New Mexico could more than double by 2023. The report predicts “stunning” growth, saying about 41,000 new wells could increase production from the nation’s top oilfield by almost three million barrels per day in the years […]


The Permian Faces A Long Term Natural Gas Crisis

Production

The bottlenecks in the Permian have created a widening chasm between not just Brent and WTI, but also WTI in Cushing or Houston and prices fetched for oil in the Permian basin. Oil output continues to soar in West Texas, despite the fact that the region’s takeaway capacity is tapped out. The discount for Midland […]


The Texas Oil Boom Is Lean And Sweet

Production

Drillers in the Texas oil patch are reaping the benefits of efficiency gains wrung out painfully during the recent bust. A record 4 million barrels a day come out of the Lone Star State, up 15% from 2014, when prices last hit $100 a barrel–and the industry is doing so with three quarters of the […]


Next Page »



Oil News Categories


Recent Board Topics


Archive


LATEST NEWS HEADLINES


PO Real Time

Vanessa Blakeslee: What Lies Beyond Hope & The Stories That Need To Be Told #ClimateChange #PeakOil soundcloud.com/lastborninthew…