Forecast ///

Canadian oil producers exposed to rout as hedges expire

A defense Canadian oil producers had against the plunging price of crude is crumbling as hedges expire amid projections that crude will continue to decline.

EIA raises shale production estimates in monthly report

Shale patches in the U.S. are pumping out more oil and gas than the government previously thought.

Billions more in cuts needed from North American drillers: IHS

HOUSTON -- The depressed oil price environment is painting a gloomy outlook for North American E&P companies, and further, significant CAPEX cuts are needed in order for the group to demonstrate real financial discipline and align spending more closely with cash flow, according to new analysis from IHS.

China output seen cracking under pressure of price collapse

Cheap crude is a double-edged sword for one of the world’s biggest markets.

Anadarko, Mozambique put foot on gas exports as Iran looms

Mozambique and Anadarko Petroleum Corp. are racing to tap gas from one of the biggest discoveries in decades as a global glut looms.

Shale industry's health expected to worsen

The latest blow to the energy industry's collective psyche has been inflicted by National Oilwell Varco Inc, with the giant oilfield equipment maker warning the pace of drilling and fracing will only slow more as 2016 drags on.

Russia leaves door open to OPEC deal even as output hits high

Russia has, in the last week, sent mixed signals about possible cooperation with OPEC to support prices.

Supportive measures will strengthen industry emergence, says Oil & Gas UK

Welcoming the further measures to boost the UK oil and gas industry announced by the Prime Minister at a meeting with senior industry leaders this afternoon, Deirdre Michie, Oil & Gas UK’s chief executive, said: “The Prime Minister has signaled his on-going commitment to the UK oil and gas industry, which we very much welcome."

Oil extends slide below $30 on oversupply

Crude futures dropped below $30/bbl on Tuesday, extending the previous day's losses by more than 3%, as persistent worries about oversupply and more signs of a Chinese economic slowdown spooked the market.

China oil demand to grow in 2016

China's oil demand will grow 4.3% this year to surpass 11 MMbpd, compared to 4.8% growth last year, the country's top energy group forecast on Tuesday.

Libya's $60 billion in lost oil highlights risk of failed state

Libya’s rival political factions must quickly form a unity government to stop the country with Africa’s largest oil reserves from collapsing into a “failed state,” National Oil Corp. Chairman Mustafa Sanalla said.

Saudis unbowed by oil crash with no spending cut before IPO

The world’s biggest oil producer is spending as much now as it did before the crash in crude prices, signaling no surrender in Saudi Arabia’s battle with rivals.

Schlumberger posts loss, cuts another 10,000 jobs

Schlumberger Ltd. posted a fourth-quarter loss as the company cut another 10,000 jobs and took a $1.46 a share charge to account for restructuring as the oil market downturn deepened.

Executive viewpoint

John England, Deloitte LLP

Looking back at 2015: What happened, what didn’t, and hope for the future

Oil and gas in the capitals

Dr. Anas Alhajji, Contributing Editor

Making the case for a Saudi oil production cut

Iran's bid for oil investment at risk from Saudi clash

Iran’s diplomatic rift with regional rival Saudi Arabia will stiffen the challenge it faces in attracting foreign investment once sanctions on its economy are lifted.

Untapped Mexican oil fields lure next generation of wildcatters

While more than 180,000 onshore wells are producing oil in Texas, only 8,250 have been drilled by Petroleos Mexicanos across the border in Mexico. Welcome to the land of opportunity.

Pemex growth dreams turn to asset sales, job cuts as debt mounts

Petroleos Mexicanos’s plans last year included JVs and higher oil production. For 2016, that’s turned into job cuts and asset sales as it tries to weather the worst downturn in a generation.

Chesapeake Energy on pace for 2015's weakest performance amid rout

Chesapeake Energy Corp. is having its worst year since 1998 after halting dividend payouts, slashing drilling budgets and cutting one of every six employees failed to rescue the energy explorer from the deepest gas-market rout in 16 years.

Black Ridge Oil & Gas updates outlook based on current oil prices

Black Ridge Oil & Gas, Inc. today provided an update on the Company to address the recent deterioration in oil prices.