Saudi Arabia And Iran Reignite The Oil Price War

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The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to offset supply disruptions elsewhere, including the anticipated loss of Iranian oil supply after U.S. Last week, the National Iranian Oil Company (NIOC) slashed the OSP for the Iranian Light crude grade to Asia by US$0.80

EIA ups total shale oil resource estimate by 13% to 419B barrels, shale gas by 4% to 7576 Tcf

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The US Energy Information Administration (EIA) continues to expand its assessment of technically recoverable shale oil and shale natural gas resources around the world. The addition of four countries—Chad, Kazakhstan, Oman, and the United Arab Emirates (UAE)—to a previous assessment covering 42 countries has resulted in a 13% increase in the global assessed total resource estimate for shale oil and a 4% increase for shale gas. Market Background Oil

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

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New energy research from business information provider IHS Markit has identified more than five billion barrels of oil equivalent (BOE) in numerous smaller, previously bypassed, or underperforming reservoirs outside North America that offer oil and gas operators a shorter-cycle path to production than new, frontier projects in undeveloped areas. billion BOE) was made in an underexplored area of the Sureste Basin, with first oil targeted for 2019, just two years after discovery.

2018 60

Oil Prices Running Out Of Reasons To Rally

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Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. For the better part of two months, optimism surrounding the OPEC deal has buoyed oil prices, but bullish sentiment from speculators are showing early signs of abating, raising the possibility that the oil rally is running out of steam. The gains in the rig count come even as oil prices have held steady in the mid- to low-$50s per barrel.

2017 60

US EIA reminder: Strait of Hormuz world’s most important oil chokepoint; almost 20% of oil traded worldwide

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With Iran’s current threat to close the Strait of Hormuz in response to sanctions as a backdrop, the US Energy Information Agency issued an update to its “World Oil Transit Chokepoint” brief ( earlier post ), noting that “ Hormuz is the world’s most important oil chokepoint due to its daily oil flow of almost 17 million barrels in 2011, up from between 15.5-16.0 million bbl/d was crude oil.

2011 98

Baker Institute: End of the ‘Big Oil giveaway’ is underway in the Persian Gulf

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In recent years, all six Gulf monarchies—Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Oman, Qatar and Bahrain—have begun to challenge the notion that citizens are entitled to cheap energy. Energy Subsidy Reform in the Persian Gulf: The End of the Big Oil Giveaway” was co-authored by Jim Krane, the Wallace S.

2016 60

GECF: more than a quarter of 2050 natural gas supply untapped

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Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. The two-day Oil and Gas of Turkmenistan 2020 conference was organized by the Government of Turkmenistan and attracted the participation of regional and international energy companies, including CNPC, Dragon Oil, SOCAR, ENI, ARETI, Schlumberger, Hyundai, among others.

EIA: China is now the world’s largest net importer of petroleum and other liquid fuels

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In September 2013, China’s net imports of petroleum and other liquids exceeded those of the United States on a monthly basis, making it the largest net importer of crude oil and other liquids in the world, according to figures from the US Energy Information Administration (EIA). million barrels per day, primarily from tight oil plays. Saudi Arabia continues to be the largest supplier of crude oil to China and in 2013 provided 19% of China’s 5.6

2014 88

Oxea launches new phthalate-free plasticizer as C8/C10 trimellitate replacement

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Other application areas include non-fogging automotive interior, special sheets, profiles and gaskets and base stock for lubricating oils. Oxea is owned by Oman Oil Company S.A.O.C. Oxea is expanding its phthalate-free plasticizer portfolio with the introduction of Oxsoft L9 (linear trinonyltrimellitate).

2015 68

Shell Technology Ventures to invest several $100 millions in emerging tech companies over next 6-8 years

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The company will look at areas including gas production and conversion; geophysical imaging; chemical manufacturing and conversion; novel materials; enhanced oil recovery; and water treatment. Various aspects of information technology (“Big Data”); oil and gas wells drilling and completion; sub-surface sensing; production in challenging environments; operational efficiency; and future energy technologies will also be sought.

2013 85

Global Gas Prices | Hybrid Sales

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Expert predictions about where oil and gas prices are headed vary widely. In July of 2008, oil futures hit their record high of more than $145 per barrel and several areas of the country neared $5/gal. While many others agreed (including executives at several auto makers) it is unlikely that higher taxes would be a popular approach to reducing our dependence on oil.

2010 78

INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

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Ichthys will develop approximately 3 billion barrels oil equivalent of reserves, including around 500 million barrels of condensate. million tons per year) has already been sold for 15 years under oil-linked price contracts, mostly directed to third-party consortiums of Taiwanese and Japanese buyers including INPEX. The group has interests in LNG projects in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, and Russia.