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Eni report: global oil reserves and oil production up in 2018 due to US

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Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.

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Saudis Expand Price War Downstream

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The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. Saudis have moved into the product business in a big way,” said Fereidun Fesharaki of FGE Energy. The gross refining margin is nothing but the difference between the value of the refined products and price of the crude oil.

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Opinion: How Much Longer Can OPEC Hold Out?

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However, OPEC has been in the line of fire from the western world in light of its stance of not reducing the production levels of its member nations (excluding Iran). Most view this as a strategy to squeeze the American shale production and other non-OPEC nations. Venezuela’s Woes. All is not well for OPEC. Nigeria’s dilemma.

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Opinion: The Saudi Oil Price War Is Backfiring

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With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. The Saudis have kept their production levels high since last year in order to drive other players (especially US shale drillers) out of business.

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Opinion: Who Will Be Left Standing At The End Of The Oil War?

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Production cost and breakeven figures that analysts enjoy bandying can trap you in bubble of black-and-white mathematics that is a few brush-strokes shy of a full picture. Breakeven prices are hard to pin down, and harder yet because they fluctuate. So the breakeven is elusive. Breaking the back of US shale?

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Current product flow at Kern River field. Data: California DOGGR.

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IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

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This sharp slowdown in activity in the conventional oil sector was the result of reduced investment spending driven by low oil prices. It brings an additional cause of concern for global energy security at a time of heightened geopolitical risks in some major producer countries, such as Venezuela, the IEA said. In addition, 6.5

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