Oil and gas production could reach an all-time high in the deep waters of the Gulf of Mexico this year as companies cut costs and spend less on exploration. Deepwater output in the Gulf could climb to 1.9 million barrels of oil equivalent in 2018, a 13 percent […]
The World Bank has just announced that it will end its financial support for oil and gas extraction. Getty Images The Bank used the One Planet Summit in Paris to announce that it “will no longer finance upstream oil and gas” after 2019. The bank also announced that […]
US Rig Count: 1,045 (-1) Permit Count: 1,246 (+14) 45 Rigs Waiting to Spud WTI Crude: $57.72 (+0.63%)
You know it’s cold when you can build a snowman on an oilfield location in South Texas. Carizzo Springs, TX 12/7/17 Photo Credit: unknown
US Rig Count: 1,046 (-23) Permit Count: 1,232 (+372) 53 Rigs Waiting to Spud WTI Crude: $57.44 (-1.58%)
Microsoft: Biggest risk to oil and gas industry is artificial intelligence Omar Saleh, Microsoft’s oil and gas director for Africa and the Middle East, said that over the next five to ten years the greatest threat to the oil and gas industry is artificial intelligence (AI). Speaking at […]
Mexico announces biggest onshore oil discovery in 15 years Pemex, Mexico’s largest national oil company, has made its biggest onshore oil discovery in 15 years. The find of nearly 1.5 million barrels of crude came while drilling its onshore Ixachi well, located in the Veracruz basin. The overall […]
American liquefied natural gas is reshaping the world energy market. The last decade has seen an unprecedented boom in shale gas drilling in the United States. This has increasingly helped transition the country from being an energy importer to a major energy exporter. That transition, which presidents from […]
Oil prices rise as OPEC cites the success of supply reduction pact Oil prices rose nearly 3% on Tuesday, a sign that the market may finally be stabilizing after years of oversupply. This news was prompted primarily by Saudi Arabian export cuts. In observance of the OPEC-led supply […]
Electric cars estimated to reduce oil demand by nearly 3.8 million barrels per day by 2025 Barclays commodities analysts have estimated that oil consummation will take major dive in the coming years due to the proliferation of electric and increasingly fuel efficient vehicles. A research note released on […]
