World Oil’s Top Stories of 2022: 11-15
(WO) — U.S. oil producers recouped pandemic losses, while Russian war-time efforts disrupted other operations in 2022. However, that’s a small glimpse into this year’s most interesting headlines. Here are more of the top industry news stories, courtesy of World Oil.
Mewbourne Oil Co., the largest private oil producer in the U.S., said it will remain in the hands of its controlling family after the recent death of its eponymous founder.
We think it’s important to actually quantify the extent to which the U.S. is importing Russian crude and products. Politicians have referred to “Russian oil” as if all imports from that country are strictly crude oil. This is not true.
Despite having shale-gas deposits to rival those in Appalachia, Argentina's domestic gas production sector has suffered from years of underinvestment that has left it unable to meet domestic demand, never mind the needs of the export market.
The timing couldn’t be worse for consumers, but the message from shale country is loud and clear: the independents won’t repeat the mistakes of the past by flooding the world with cheap oil.
It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade.