Latest World News. Find every day short and brief information composed of titles and subtitles and continue reading if interested.
Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of US shale companies are still struggling to turn a profit. A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute detail the “alarming […]
The collapse of the Argentine peso and the government’s struggle to tackle soaring inflation are causing disquiet among companies developing Vaca Muerta, one of the world’s largest deposits of shale oil and gas. In his drive to liberalize Argentina’s energy markets, President Mauricio Macri phased out consumer subsidies and increased tariffs. Local oil prices rose […]
Andrew Burton/Getty The number of units the US will produce in one month would break a record. But there are still shale issues, even with the boom. Capacity is one factor to look out for. Shale oil production in the United States will rise by a record-breaking 144,000 bpd from May to June, hitting 7.178 […]
Reuters Volcanic eruptions from when dinosaurs existed created the natural material shale producers now rely on. This started 100 million years ago. The great oil and gas formations that U.S. shale drillers thrive on have reportedly been traced back to volcanic eruptions from the time of the dinosaurs, over 100 million years ago. In the […]
“Leave us alone and leave all these issues. We had enough of shale oil and talks of shale. Please talk about anything else,” Saudi oil minister Khalid al-Falih said in Davos, snapping at reporters. Al-Falih has clearly become annoyed at all the pestering from reporters and market analysts about the prospect of US shale spoiling […]
Reuters/Steve Sisney Oil tycoon Harold Hamm says the US Energy Information Administration’s overoptimistic shale forecasts depress prices and put the US market at a disadvantage. Hamm says the EIA needs to hear “meaningful feedback.” As a powerful oil market mover, the EIA needs to have “more sophisticated” forecasts about U.S. shale production, because overly […]
Crude oil prices are taking a serious hit from Hurricane Harvey, slammed on multiple fronts at a time when benchmark prices were already showing some signs of strain. As has already been widely noted, Hurricane Harvey has knocked out major refineries along the Gulf Coast. Goldman Sachs said in a research note that an estimated 3 […]
Andrew Burton/Getty Images For much of the past three years, the oil majors have struggled to adapt to the new reality of low oil prices, while at the same time, their smaller and nimbler rivals deftly pivoted to the ebbs and flows of oil price movements. Big Oil, it has been said, was ill-equipped to […]
Spencer Platt/Getty Crude oil prices may be falling, but that hasn’t been enough to stop the resurgence in the US shale oil industry. According to oil services firm Baker Hughes, the number of rigs deployed in the US rose for a 23rd consecutive week last week, marking the longest stretch of continued growth seen in […]
The rise in oil prices from their lows in early 2016 to near $ 50 now should have caused a boom in drilling activity. But that’s not what’s happened. “While rig counts dropped from 1,499 to 536 in 2015, they did not recover alongside the price of oil in 2016,” said Ihor Dusaniwsky of Wall Street analytics firm, S3 Partners, “dropping […]
