Posts By: admin

Last week, crude oil futures settled at their highest levels in more than two months while energy stocks scored their best week since March 2023 thanks to a cornucopia of catalysts including escalating tensions in the Middle East, a Ukraine drone attack on a Russian oil refinery, production glitches in the U.S., inventory  drawdowns that were much… Read more »

In 1943 President Franklin Roosevelt declared that “the defense of Saudi Arabia is vital to the defense of the United States.” The reason: Ten years earlier the desert kingdom had granted a concession to Standard Oil of California to explore for oil. It turned out there was some, in fact, a lot. Roosevelt visited with… Read more »

As Europe continues to grapple with a daunting energy crisis, European energy markets still face a liquidity disaster, with financial institution exposure to fossil fuels and record levels of margin calls sounding the alarm bells.  According to Norway’s Equinor ASA (NYSE: EQNR), European energy trading is under severe strain by margin calls of at least $1.5 trillion, putting extra pressure… Read more »

HOUSTON – Shell has started production from the Stones development in the Gulf of Mexico. Stones is expected to produce around 50,000 boe/d when fully ramped up at the end of 2017. The host facility for the world’s deepest offshore oil and gas project is the FPSO Turritella. It is the thirteenth FPSO in Shell’s global deepwater portfolio and produces… Read more »

Oil prices are going up as oil supply and demand are approaching a more balanced situation, writes geophysicist Jilles van den Beukel. And they will continue to go up as supply is expected to fall below demand in the 2018-2020 period. The key factor in supply reduction is that cost cutting is leading to higher… Read more »