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EU shock wave: Latest from London as market upheaval continues today

Enormous political and economic upheaval continued this morning in the aftermath of the UK's historic decision to leave the European Union. Stock traders and commentators struggled to keep pace with changing events in London, amid political interventions to calm markets on the one hand, and talk of...
» Written by Paul Harris on Monday, June 27, 2016

Brexit and the energy equation

The fretting in the financial markets after Great Britain's voters narrowly decided to leave the European Union (EU), a move dubbed Brexit, was less about immediate effects--there aren't any since it would take Britain up to two years to withdraw--and more about a foreboding that other countries wil...
» Written by Kurt Cobb on Monday, June 27, 2016

Oil price, Aminex/Solo, Sundry-Cape-GKP-Europa/Egdon/Union Jack- And finally...

Oil price The early prices for crude oil on Friday after the Brexit news came through never really got worse, maybe investors had more worrying exposure elsewhere...? Although there are worries about growth, particularly in Europe we mustn't get too full of our own importance and the world will car...
» Written by Malcolm Graham-Wood on Monday, June 27, 2016

Brexit is Now a Reality… Or is it?

The decision by 52% of the voters in the EU referendum last week to vote to leave the EU has had far-reaching impact across the globe. The oil and gas sector, bruised from nearly two years of low oil prices, is bracing itself for the fall out. The immediate impact of the referendum outcome was a pl...
» Written by Steve Robertson on Monday, June 27, 2016


Oil Industry and Markets React to UK Vote to Leave European Union

Markets and the oil and gas industry reacted this morning after the United Kingdom voted to leave the European Union in a historic decision that triggered Prime Minister David Cameron to resign. 'Leave' campaigners polled 52% in a vote that rebutted economic and political arguments for staying with...
» Written by Paul Harris on Friday, June 24, 2016

Oil price, Amerisur, Cape, IGas, Circle, And finally...

Oil price Unsurprisingly it's all about Brexit this morning as crude, having both closed above $50 last night come crashing down. WTI is $47.91 -$2.20 and Brent is $48.52 -$2.29, with sterling at 1.37 against the dollar and 1.2504 against the Euro even motorists won't make any money... Amerisur A...
» Written by Malcolm Graham-Wood on Friday, June 24, 2016

Decommissioning and asset valuation: a complex relationship

Decommissioning in the UK Continental Shelf (UKCS) is going to be an expensive and uncertain business. According to The Decommissioning Company, operators in Europe are forecast to spend over £60 billion on decommissioning over the next 30 years. A major part of this will be in the UKCS and, ...
» Written by Iain Poole on Friday, June 24, 2016

Oil price, Providence Resources, Ithaca, Range Resources, Falcon, Sundry-Weir-Genel-IGas-VOG- And finally...

Oil price After the 5.2m barrel draw in stocks from the API, which come out after the previous close, the market was waiting for something special from the EIA and when that didnt happen the market fell away quite sharply. A draw of only 917/- barrels was below the 1.3m whisper and well below the A...
» Written by Malcolm Graham-Wood on Thursday, June 23, 2016

Saudi Arabia Sets 2030 Oil and Gas Targets to Achieve the Transformation Plan

One of the key part of the transformation plan of Saudi Arabia includes to prepare the kingdom for post oil era. The plan sketches out possibilities that can be undertaken under different ministries. The cabinet of the kingdom has approved a plan that aims at diversifying the state revenue away fro...
» Written by Akansha Arora on Thursday, June 23, 2016

Implications of structural changes within and across industries on oil & gas industry

The global energy landscape is expected to change - led by renewables, undermining the role of coal and natural gas in power generation. While structural changes in auto-industry will have devastating effect on the global oil demand during the next few decades! How will it all affect the destiny of ...
» Written by Dr. Salman Ghouri on Wednesday, June 22, 2016

Oil and Gas Producers in North Carolina Now Need to Get a Surety Bond

A recently passed bill in North Carolina has made amendments to various revenue laws which includes changes to sections dealing with 'tax on severance of energy minerals'. These changes concern the financial guarantees, such as a tax bond, that producers of oil and gas must file upon receiving a per...
» Written by Todd Bryant on Wednesday, June 22, 2016

Permian Basin Break-Even Price is $61: The Best of a Bad Lot

The break-even price for Permian basin tight oil plays is about $61 per barrel (Table 1). That puts Permian plays among the lowest cost significant supply sources in the world. Although that is good news for U.S. tight oil plays, there is a dark side to the story. Just because tight oil is low-cost...
» Written by Art Berman on Tuesday, June 21, 2016

Oil price, Petrofac, And finally...

Oil price Oil continued to rally yesterday as potential disruption from Brexit was priced down by equity markets although with only two days to go it seems all is still to play for in the UK. July WTI expires tonight and although crude is off around 30 cents this morning the August contract remains...
» Written by Malcolm Graham-Wood on Tuesday, June 21, 2016

China: Is peak coal part of its problem?

The world's coal resources are clearly huge. How could China, or the world in total, reach peak coal in a timeframe that makes a difference? If we look at China's coal production and consumption in BP's 2016 Statistical Review of World Energy (SRWE), this is what we see: Figure 1. China's product...
» Written by Gail Tverberg on Monday, June 20, 2016

Oil price, Sound Energy, EnQuest, Amerisur, Sundry-Wood Group-Lekoil-Oil & Gas Council, And finally...

Oil price Last week was a down week for oil despite the sharp rally on Friday which has continued today. WTI fell $1.09 whilst Brent dropped $1.37 as the continuing strong dollar and worries about Brexit kept the fear factor alive and risk certainly off. Things all changed as on Friday the greenbac...
» Written by Malcolm Graham-Wood on Monday, June 20, 2016

A Bridge from Black to Green?

In recent years, Liquefied Natural Gas (LNG) has become integral to meeting global energy demand. However, as the oil & gas industry continues to navigate the prolonged downturn, capital intensive export LNG projects have been in the spot light due to questionable economic viability. A key driver is...
» Written by Mark Adeosun on Monday, June 20, 2016

BP 2016: Global Energy Production at a Glance

Oil, gas, nuclear, hydro and new-renewables production all grew in 2015 while coal production declined by 4%, the first significant decline for many decades. But global CO2 emissions were still up by 0.1%. Notably, CO2 emissions rose in Germany, Austria, Portugal, Spain, Italy and Ireland. New ren...
» Written by Euan Mearns on Friday, June 17, 2016

Canadian Upstream O&G M&A Picking Up in Q2 2016

Analysis in CanOils' latest Monthly M&A Review shows that the total value of deals in the Canadian upstream oil and gas sector reached Cdn$880 million in May 2016. This is below the monthly average of Cdn$1.5 billion during the price downturn, but following on from April's total of over Cdn$1 billio...
» Written by Mark Young on Friday, June 17, 2016

Oil price, Faroe, Hurricane, SDX Energy, Chariot, Xcite, And finally...

Oil price With the Fed staying put on rates and reducing US growth rates again there was unlikely to be any positive impetus to knock on to the oil price. After the API inventory stats the night before all was predicted to be gloomy and so they were, crude drew only 933/- barrels against a forecast...
» Written by Malcolm Graham-Wood on Thursday, June 16, 2016
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