Oil Prices Ravaged By Financial Turmoil

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Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market. A rebound for the greenback led to a steep decline in oil prices on Friday. At the same time, sudden turmoil in the broader financial system also bled over into the oil market. The stock market and interest rates can really affect oil a lot,” Mark Waggoner, president of Excel Futures, told The Wall Street Journal. “It’s Market Background Oil

2018 73

IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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Over the next three years, gains from the United States alone will cover 80% of the world’s demand growth, with Canada, Brazil and Norway—all IEA members—able to cover the rest, according to Oil 2018 , the IEA’s five-year market analysis and forecast. Market Background Oil

2018 101

Trending Sources

IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

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Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider.

2018 85

E&B Oil Propaganda Goes Up in Flames, Burning Climate Wrecking, Oil-loving Sellouts & Sycophants

Creative Greenius

Filed under: environment Tagged: climate wrecking oil loving sellouts & sycophants. environment climate wrecking oil loving sellouts & sycophants

2015 134

Opinion: There Is No Such Thing As Peak Oil Demand

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Notwithstanding that oil demand has increased for over 150 years, it will eventually stop increasing. If oil demand were to reach an actual peak, then the top might be easier to predict. EIA data shows that 35 countries in all have already reached and descended from maximum oil demand.

2017 112

Big Oil Betting On Electric Vehicles

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Oil demand for transportation fuel see its “ demand will flatten out ,” after 2030, Couse said. Colin McKerracher, head of advanced transport analysis at Bloomberg New Energy Finance, sees Couse’s forecast as the highest EV sales margin yet to be forecasted by a major company in the oil sector. Royal Dutch Shell Plc sees a similar trend with oil demand in transportation flattening out in the near future. Electric (Battery) Forecasts Oilby Jon LeSage for Oilprice.com.

2017 78

U Calgary study finds oil shale most energy intensive upgraded fuel followed by in-situ-produced bitumen from oil sands

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A team at the University of Calgary (Canada) has compared the energy intensities and lifecycle GHG emissions of unconventional oils (oil sands and oil shale) alongside shale gas, coal, lignite, wood and conventional oil and gas.

Oil Well Strippers Suffering From Low Oil Prices

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With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. A stripper is a small operator of very old oil wells that frequently produce less than five barrels per day of oil. billion barrels of oil and 18.8 percent of the US oil output, so they are a non-trivial source of US production. Market Background Oil Opinion

2015 73

Oil Majors’ Costs Have Risen 66% Since 2011

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The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. The collapse of oil prices forced the majors to slash spending on exploration, cut employees, defer projects, and look for efficiencies.

2017 85

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

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As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. oil may not be able to fill. Market Background Oilby Haley Zaremba for Oilprice.com.

ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Additions from liquids-rich unconventional plays in the United States, mainly in the Permian Basin, totaled approximately 800 million oil-equivalent barrels. Market Background Oil

2018 69

Big Oil will lose grip on global vehicle market in less than 25 years: study

Green Car Reports

The latest study on the future of transportation paints an increasingly dim picture for the oil industry, though it suggests that the industry is in no danger of collapse. Instead, Big Oil will lose its dominance in the transportation sector over a 25-year period as electric cars and mobility solutions (ride- and car-sharing services) become more. Diesel Gasoline oil Study peak oil

2017 74

The 5 Countries That Could Push Oil Prices Up

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Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. Geopolitical tension has been largely irrelevant since the collapse of oil prices in 2014, but it’s making a return now that cracks have emerged in some key oil-producing nations. The threat of an outage will carry more weight as the oil market tightens. has the ability to curtail Iranian oil exports. Market Background Oil

The Next Oil Price Spike May Cripple The Industry

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Two diametrically opposed views dominate the current debate about where the oil price is heading. On the one hand, there is the view that the price of oil will be “ lower for longer ”, or even “ lower forever ”, as the electrification of transport will eat away at oil demand more and more while, at the same time, technological innovation ( shale in particular ) will greatly increase economically recoverable resources. Why the price of oil actually isn’t that low.

The Oil War Is Only Just Getting Started

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The Oil War Is Only Just Getting Started. It’s been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how US shale is responding to fifty-plus-dollar oil with rebounding drilling activity. In the next couple of months, official production figures will point to who's winning this round of the oil wars. Oil demand growth is expected to slow down in the years to come.

2017 78

Caelus confirms large-scale oil discovery on the North Slope of Alaska

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Caelus Energy Alaska, LLC, a privately held independent exploration and production company, announced that its subsidiary, Caelus Energy Alaska Smith Bay LLC, has made a significant light oil discovery on its Smith Bay state leases on the North Slope of Alaska.

2016 114

The “Amazon Effect” Is Coming To Oil Markets

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While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field. Mills , believe we are on the verge of an oil industry transformation of proportions identical to the transformation that Amazon prompted in retail. The Internet of Things is entering oil and gas, and so are analytics and artificial intelligence. Internet of Things Market Background Oil

2017 60

IHS Markit identifies 5 billion barrels of oil equivalent in short-cycle opportunities outside North America

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Stagnant oil prices continue to limit large-scale investments in global exploration worldwide, including deepwater plays, and many onshore US projects are not yet cash-flow positive, so energy investors are demanding financial returns. Market Background Oil

2018 78

Plastic Propaganda Proven Phony, Oil Red Coats Still Willing To Sell Out Their Neighbors

Creative Greenius

Happily covering themselves in toxic waste, E&B Oil Drillers and their paid mercenaries in Hermosa Beach have been trying to float a b t story about a world made of plastic dependent on oil for its every need. . Without Oil A Day At The Beach Wouldn’t Be Much Fun.

2015 134

ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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ExxonMobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. billion recoverable oil-equivalent barrels. The country was under explored and no significant oil discoveries were made until 2015.

Decline of oil: Bloomberg suggests what it could look like

Green Car Reports

Predictions on the future of global energy vary greatly, but many analysts largely believe that peak demand for the oil industry is coming relatively soon. The world's largest oil companies, however, see it differently: they say their business will only continue to grow through the year 2040. emissions oil peak oil fossil fuels

2017 63

Novel microbial biosensor platforms for early detection and treatment of oil leakage and produced waters

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In the current study, he is testing bacteria that will elicit an adequately measurable cathode voltage while also being able to survive in a marine environment for the application of offshore oil spill detection. Gude created an organic sensor composed of an electrogenic anode made up of bacteria that consume carbon-based material (gas or oil) and expel electrons. Biotech Infrastructure Natural Gas Oil

2018 65

“Dirty, Difficult, And Dangerous”: Why Millennials Won’t Work In Oil

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Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials. But unlike any other industry, oil and gas is facing more challenges in persuading the environmentally-conscious Millennials that oil is “cool”. In addition, two out of three teens believe the oil and gas industry causes problems rather than solves them, the survey showed. Market Background Oil

2017 78

Oil in ground may be worth less, Exxon concedes, unhappily

Green Car Reports

As low oil prices remain steady, many oil companies have been forced to write down the value of their reserves. It's something oil giant ExxonMobil has resisted, even as its revenues have dropped. billion barrels of oil-sand reserves, and 1 billion barrels of other North American oil. oil Exxon fossil fuelsBut the company is now expected to reassess the value of 3.6

ExxonMobil predicts peak in light-duty vehicle liquid fuels ~2030, but ongoing role for oil in the mix

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However, oil will continue to play a leading role in the world’s energy mix, the report finds. per year; oil demand decreases about 0.4% Behavior Electric (Battery) Engines Forecasts Fuel Efficiency Hybrids Oil

2018 85

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for “a year or two.” Plunging oil prices have substantially reduced Saudi revenues.

2015 80

Transmission Losses: Shell tries to halt North Sea oil spill

Plugs and Cars

" An oil spill in the North Sea is estimated to amount to several hundred tonnes, making it the biggest such leak in more than a decade, according to UK Government figures." ". shell oil oil spill Big Oilthe energy firm is still trying to "completely halt" any further leakage." Source: The Independent ].

Oil 100

Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices.

Opinion: Why oil prices must go up

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It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. The industry did not log a single “giant” oil field.

Oil makes us impotent

Plugs and Cars

Clinton took away from that, among other things, that oil and the need for oil on behalf of the West and other places made Abacha, in his mind, impervious.” Tags: shell oil Big Oil bill clinton nigeria “I had a surprising call this week,” the author Richard North Patterson told the audience that had gathered last weekend as part of the PEN World Voices Festival of International Literature. It was former President Bill Clinton.

Oil 100

Eni licenses EST technology to Sinopec to convert residues to high-quality light products; eliminating pet-coke and fuel oil

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EST completely converts refinery residues, heavy oils and bitumen into high-quality light products, eliminating the production of both liquid and solid refinery residues (for example, pet-coke or fuel oil). Eni slurry technology: A new process for heavy oil upgrading.”

2018 78

Neste-led project verified 50% methane emission reduction at palm oil mills using belt filter press

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Crude palm oil is one of the more than ten renewable raw materials that Neste uses to produce a range of renewable products, including renewable diesel. Palm oil represents approximately 20% of Neste’s renewable raw material usage annually.

2018 110

Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

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shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. The biggest banks remain bullish on oil prices, expecting moderate price gains by the end of the year, even after last month WTI prices dropped below $50 for a couple of weeks.

2017 60

Opinion: The Saudi Oil Price War Is Backfiring

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Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. 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. Market Background Oil Opinion

World Bank will stop funding oil, gas exploration in 2019

Green Car Reports

Gasoline oil global warming climate change energy diesel fuel fossil fuelsIt's not just the world automotive industry that's grappling with rapid changes brought about by the need to reduce the effects of climate change. The world's fossil-fuel extraction, refining, and delivery industries are also faced with the reality that two centuries of burning their core products hurts the planet and has already exacerbated.

2017 70

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

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But these are just the costs of lifting oil out of the ground. State-owned oil companies often have many more responsibilities than just producing oil. It’s hard to measure costs when this oil has to pay for all the luxuries of the Saudi royal family. Oil Opinion

2016 109

Opinion: Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry

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Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. The result is a heavier discount for Russia’s crude oil, the so-called Urals blend.

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Oil Industry Faces Huge Worker Shortage

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The rig count has rebounded from the lows seen in late May, a small indication that oil companies in the US could begin drilling anew. Because of this, the collective US shale industry has been likened to the new “swing producer”: low oil prices force quick cutbacks but higher prices trigger new supplies. An estimated 350,000 workers have been laid off in the oil industry around the world, and the rig count in the US is a tiny fraction of what it was two years ago.

2016 60

Are The Saudis About To Reveal The Best Kept Secret In Oil?

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One of the oil world’s longest and best kept secrets may finally be revealed. Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for decades. Saudi Arabia often trades off with Russia—and more recently, with the US—as the world’s largest oil producer. But while it produces at similar levels as Russia and the US, it is long been a vastly more influential player in the oil world.

Researchers develop two-step, one-pot process for synthesis of benzene from microalgal oils

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Benzene, an aromatic hydrocarbon, is a natural component of crude oil and is one of the elementary petrochemicals. It is used as a precursor to the manufacture of more complex chemicals, and, with a high octane number, is an important component of gasoline.

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