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

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OPEC registered zero growth as production in the Arab Gulf countries were offset by losses in Iran and Venezuela due to geopolitical issues. The US also broke into the international crude trade, doubling export volumes and entering that top ten ranking. WTI, the US light crude, covers 60% of global growth.

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Opinion: How Much Longer Can OPEC Hold Out?

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OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. Venezuela’s Woes. by Gaurav Agnihotri for Oilprice.com. Source: opec.org). Iran Nuclear Deal: A warning sign for OPEC?

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US Lifted The Crude Oil Export Ban, And Exports Went Down

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crude oil is Venezuela. In early February, Venezuela’s state-run oil company PDVSA imported a 550,000-barrel cargo of West Texas Intermediate (WTI) through its U.S.-based Venezuela started importing foreign crudes in 2014 amid a fall in its own production—buying mostly Angolan and Nigerian light grades.

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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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While production costs and refining costs for heavy oil exceed that for light oil, applying information technology solutions for decision-making has provided a significant increase in the margins and profits of operations, according to Chevron engineers in a paper presented on their system earlier this year. Kern River Field current stats.

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State Department releases final environmental impact statement on Keystone XL Pipeline Project; analysis of GHG emissions

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The US portion of the pipeline would begin near Morgan, Montana at the international border of the United States and extend to delivery points in Nederland and Moore Junction, Texas. The top four suppliers were Mexico, Venezuela, Saudi Arabia, and Nigeria. There would also be a delivery point at Cushing, Oklahoma.

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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

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The International Energy Agency (IEA) last week launched the 2011 edition of the World Energy Outlook (WEO), the current edition of its annual flagship publication assessing the threats and opportunities facing the global energy system out to 2035. Passenger light-duty vehicles. Click to enlarge. —WEO 2011. —WEO 2011.

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Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

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Venezuela acted as a check on the overall level though, as the crisis-hit country’s production continues to hit fresh lows. Polish refiner Grupa Lotos bought a one-off test purchase of 2 million barrels of Iranian light crude recently, and Europe has returned as a key destination for Iranian crude.