Military forces in Iraq are preparing an attempt to gain control of an oil route located near the Iran border. The border has historically been used to transport oil throughout the Hamrin mountain range. A Reuters article reported, “Trucking crude oil to Iran was agreed under a swap agreement announced in December by the two …
President Donald Trump has vowed to continually limit the supply of oil and petroleum products to North Korea. This comes as an attempt to limit North Korean developments of nuclear weapons. An article by Reuters reported, “North Korea on Saturday condemned the latest U.S. sanctions. and Russian deputy foreign minister Igor Morgulov said Russia had …
An article in the Los Angeles Times cites state regulators and simple economics as reasons why new offshore drilling opportunities, promised by the Trump administration, will probably amount to nothing more than a few news headlines. The piece maintains that “California has powerful legal tools to head off new offshore development, and the price of …
News from the first two quarters of this year has been on megadeals as producers gobbled up acreage and rival companies in prime locations in an effort drive down costs during the long oil slump. Those searches are now going beyond the Permian basin to include up-and-coming Anadarko basin in Oklahoma and northern Texas, …
Source: Forbes Australia is known for its plethoric natural resources. The abundant resource sector has long been a major contributor to the country’s economy. However, despite $200 billion of capital investments over the past decade, industries are experiencing a down turn in activity compared to the prosperous period of the mining boom. The oil sector, particularly, is showing a climactic decline due to a combination of exhausting mature oil fields and a lack of innovation …
It is a simple formula…when oil prices rise oil companies prosper. This past week the energy sector continued a month long winning streak posting its biggest weekly gain for this year. Given the modest increase in crude a more likely market motivator is geopolitical risk. Several oil producers are at risk including Venezuela where …
The number of active oil and gas rigs in the United States fell this week by 8 rigs. The total oil and gas rig count in the United States now stands at 936 rigs, up 430 rigs from the year prior, with the number of oil rigs in the United States decreasing by 7 this week and …
LONDON — The Danish container shipping company A.P. Moller-Maersk said on Monday that it had agreed to sell its oil and gas business to the French energy giant Total for $4.95 billion. Oil prices have started to recover after an extended downturn, strengthening profit at major oil producers in the second quarter of this year and opening …
Source: Wall Street Journal From California’s Central Valley to the Native American lands of Oklahoma, more small- and mid-sized oil firms—many backed by private equity—are forgoing expensive shale drilling projects and opting for old-school wells instead. As crude prices languish under $50 a barrel, and with increasing costs for land, labor and infrastructure, some shale …
For the oil-trading community, the fall of hedge fund manager Andy Hall signaled a heavy blow, but while commodity funds continue to shutter their doors, some are finding other ways to make money, including trading refining margins and calendar spreads. Commodity hedge funds have dwindled in recent years as oil prices slumped, leaving only a …