Author hkrichiedistribution
It’s the start of a new year and a new decade, and the oil market is as unpredictable as ever. Will OPEC+ extend its cuts? Will U.S. shale finally grind to a halt? Is this the “year of the electric vehicle”? Here are 10 stories to watch in 2020. Shale debt, shale slowdown. The debt-fueled
The U.S. assassination of one of Iran’s most powerful generals has the oil industry bracing for something it has long feared and anticipated – direct military confrontation between the two adversaries. In the hours after President Donald Trump ordered the killing at Baghdad airport of Qassem Soleimani, who led Iran’s Quds force, crude oil surged,
Oil extended its dramatic surge, surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the U.S. assassinated one of Iran’s most powerful generals. Futures jumped by another 1.4% on Monday as the U.S. State Department warned of a “heightened risk” of missile attacks near military bases
Goldman Sachs said that it would no longer finance coal projects, or oil and gas exploration in the Arctic. In a new environmental policy framework, the investment bank acknowledged the urgency of climate change and noted that not acting would be “costly for our natural environment, humans and to the economy.” It appears to be the
A natural gas well operated by Exxon that blew out in 2018 released a lot more methane than previously believed, a study by a team of U.S. and Dutch scientists concluded. Bloomberg reports that the study they conducted using satellite imagery showed that the methane emissions following the blast topped what “the oil and gas industries of
Oil prices have hit three-month highs, driven higher by the OPEC+ cuts, the U.S.-China trade de-escalation, the slowdown in shale and the apparent stabilization in the global economy. There is a debate about how effective the additional OPEC+ cuts will turn out to be, whether the deal is significant or if it is merely a
Oil and gas production in the U.K. North Sea could fall “briskly” if crude returns to $50 a barrel, leaving more than 300 fields undeveloped, according to a University of Aberdeen study. The findings highlight the risk to the industry from dwindling investment as oil prices struggle to sustain a recovery. Benchmark Brent crude has
Oil and gas production in the U.K. North Sea could fall “briskly” if crude returns to $50 a barrel, leaving more than 300 fields undeveloped, according to a University of Aberdeen study. The findings highlight the risk to the industry from dwindling investment as oil prices struggle to sustain a recovery. Benchmark Brent crude has
ABB has signed a new frame agreement to deliver safety and automation systems across Equinor’s installed base and greenfield projects worldwide, helping minimize cost, schedule and risk. The frame agreement continues more than three decades of collaboration, with ABB supporting Equinor to consider innovative opportunities in an era of greener, cleaner energy and increasing automation.
China is breaking records for crude oil imports, and isn’t likely to stop soon as new refineries ramp up and hopes grow that the easing of trade tensions with the U.S. will bolster the economy. Even as economic expansion has slowed, the pace of growth still requires ever more oil. China imported an unprecedented 11.18