The Trump administration has proposed to eliminate the Chemical Safety and Hazard Investigation board as one of the many agencies they hope to rid of under the $4.1 trillion full-year budget. The administration is experiencing some push back especially after last week’s explosion in Quinton, Oklahoma where five workers lost their lives. As reported by …
There is no sure-fire method to eliminate risk in searching for oil. 21st century technology has yet to provide a perfect solution however, it is rapidly expanding the way in which companies identify oil and gas reserves. In light of the global surge in shale fracking or unconventional exploration these technological advancements are also addressing …
The Davos of Energy Shows Global Belt-Tightening WTI Crude Oil has been as volatile as any other in 2016. This week aligns with the IHS CERAWeek that goes through to Friday with many prominent speaks and is known as the Davos or Superbowl of the energy world. in a similar manner than Iranian production continues …
Texas has lost at least 60,000 upstream oil and gas jobs, plus as many as 250,000 supply chain and retail jobs indirectly, as a result of the oil crash, according to an analyst with one of the top industry trade groups in the state. Karr Ingham, a petroleum economist who compiles the semi-annual Texas Petro Index …
Chinese stocks have fallen into bear market territory. The Shanghai Composite ended the week the way it started, dropping as worries persisted about China’s cooling economy and sinking currency. It closed down 3.6% Friday, more than 20% below its recent high in December, the threshold for a bear market. Other Asian indexes also slipped, despite …
Summary Along with slowing demand fears and a persistent glut, there’s plenty of fear to go around concerning oil.One category that is being way overblown, however, relates to fears that oil storage is nearing full capacity.While oil inventories are hovering near all-time highs, the fact of the matter is that tanks aren’t even close to …
Summary WTI crude oil prices peaked at $105 per barrel in June 2014 and fell to a low of $37.65 on Dec. 7, 2015 (down more than 64% of its price). Overproduction, high inventories, Saudi Arabia’s battle with U.S, shale oil producers and with Iran, and OPEC’s failure as an institution are the main causes. …
Lawmakers in Washington are pushing a tax break for oil refiners as part of a compromise allowing unfettered crude-oil exports for the first time in 40 years. Sen. Tom Carper, D-Del., proposed a tax credit of up to $3 a barrel to independent refiners that would be harmed if Congress abolishes U.S. crude-export restrictions. A …
Summary Since mid-2014, E&P stocks have suffered extreme punishment in the market. Many companies’ prices make them penny stocks, and many more have debt levels which make their equity contribution minimal. The author identifies a group of 33 E&P stocks which the market appears to believe are the “Bottom of the Barrel.” Market capitalizations, debt …
U.S. oil companies will likely pay close to $1 billion this year to put more ethanol and renewables in gasoline and diesel and face even higher compliance costs in 2016 after the U.S. government set targets for alternative fuel use above industry expectations. Higher costs could be passed on to consumers, pushing fuel prices higher …