Energy Voice considers the prospect of an oil supercycle and its potential supply crunch, rising demand, and triple digit oil prices.
Japanese companies are increasingly focused on upstream portfolio rationalisation, with divestment of non-operated stakes in smaller oil, as well as other non-core assets, expected to accelerate, research from Wood Mackenzie shows.
The Securities and Exchange Commission has been largely silent on the financial wreckage of the U.S. shale industry in recent years, but that may be about to change.
Oil demand will grow at “a little over 4 million barrels per day” in 2021, King Abdullah Petroleum Studies and Research Centre (KAPSARC) president Adam Sieminski has predicted.
Demand in Europe and the US may have peaked already, the heads of three trading companies have said, but growth will be sustained by Asia.
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
Schlumberger, the world’s largest oilfield services company, agreed to sell its US fracking business to a smaller rival following a collapse in demand.
As oil prices tick up to $40 a barrel following a pandemic-induced plunge, there’s a sense the shale industry is snapping back to life with Continental Resources Inc., EOG Resources Inc. and Parsley Energy Inc. all saying they’re restarting closed wells.
The coronavirus pandemic has triggered the “largest drop in global energy investment in history”, the International Energy Agency (IEA) has said, launching its World Energy Investment 2020 report.
Demand for hydraulic fracturing services in shale plays across the United States is expected to reach rock bottom in May and stay low in the summer before a recovery begins in the fall, the Norwegian global energy research firm Rystad Energy reported.
There could be 10 million barrels per day more of supply than demand in March and April this year, according to IHS Markit.
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers.
Weir Group has announced it is preparing to exit its struggling oil and gas business, bringing uncertainty for 50 Aberdeen jobs.
Last month, two days before the latest government prediction that U.S. shale production would hit new heights, an oil industry conference in Houston opened with a clip of Eeyore making one of his bleak utterings: “End of the road, nothing to do and no hope of things getting better.”
INEOS has launched a five-year partnership with the Mercedes-AMG Petronas F1 Team.
The oil major Exxon Mobil is not planning to give up its status as the top driller in Texas.
Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor.
The birthplace of the shale industry is losing the last of its top industry players after Devon Energy agreed to sell its remaining position in the Barnett shale for $770 million.
For years, OPEC ignored the rise of the U.S. shale industry and came to regret its mistake. Now, the group is making another bold gamble on America’s oil revolution: that’s its golden age is over.
Tendeka has developed a new polymer treatment to increase recovery from shale reservoirs by 250%.
Innovation and new approaches are dominating ADNOC’s drive for new sources of gas.
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
The South African government has published its Integrated Resource Plan (IRP) with the aim of setting out the country’s future energy mix.
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
Algeria’s state-owned Sonatrach has held talks with Chevron this week, with technical workshops held in order to consider joint opportunities.