Activity Review ///

Special Focus: 2020 Forecast - U.S. Drilling

Craig Fleming, Kurt Abraham, World Oil

U.S. on a downward trajectory as shale industry matures

Pemex under pressure with AMLO ruling Mexico’s economy

The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails.

Bombed oil tanker near Persian Gulf now shipping fuel to Iran

An oil tanker damaged in a bombing that was blamed on Iran is back in business. The ship’s first destination: Iran.

EIA: Fossil fuels continue to dominate U.S. energy consumption

Fossil fuels—petroleum, natural gas, and coal—have accounted for at least 80% of energy consumption in the United States for well over a century. Overall energy consumption in the United States reached a record high in 2018 at 101 quadrillion British thermal units (Btu), of which more than 81 quadrillion Btu were from fossil fuels.

Shale fight makes OPEC accept lowest market share since 1991

For almost three decades, OPEC has always pumped at least 30% of the world’s crude oil, creating an informal floor for Saudi Arabia and its allies in the cartel.

Why oil's outlook could be even bleaker than expected

As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month.

Putin to meet with Saudi Prince just days before OPEC+ gathers

Russian President Vladimir Putin plans to meet Saudi Crown Prince Mohammed Bin Salman at the Group of 20 summit in Japan this week, just days before OPEC and its allies gather in Austria to discuss extending oil-output cuts.

Oil drillers scale back U.S. activity as crude falls into bear market

U.S. crude explorers reduced drilling to a 15-month low as oil dipped into bear-market territory.

Gazprom, Shell meet to review progress of Nord Stream 2, Sakhalin II projects

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, CEO of Royal Dutch Shell, took place today at the St. Petersburg International Economic Forum 2019.

Eni board of directors approves measures to begin buy-back program

The Eni board of directors, in execution of the authorization granted by the Eni shareholders’ meeting of May 14, 2019 and within the terms announced to the market on that date, has approved measures to begin the 2019 share buy-back program.

Permian drillers pull back amid U.S.-China trade spat

Crude explorers deployed fewer rigs in U.S. fields this week amid an escalating U.S.-China trade war that weighed on oil prices.

Exxon CEO seeking solution to climate change in a lab

For Darren Woods, Exxon Mobil Corp.’s CEO, the answer to climate change won’t be found in solar panels or high-profile global accords, but rather in a U.S. government laboratory.

Economists see growth slowing amid geopolitical uncertainty

The Texas Alliance of Energy Producers Annual Meeting and Expo was held this week in Irving, Texas, just northwest of Dallas. During the opening panel session, the Texas vs. national economies were examined.

Houston Channel emphasis grows as oil, gas exports rise

On a normal day, 42 tankers, 19 freighters, 391 barges, 128 ferries and 2 cruise ships will move through the Houston Ship Channel. On any given day, one of those tankers may be as long as 1,500 ft.

Nigeria's oil-rich Bayelsa State opens inquiry on spills

Nigeria’s oil-rich Bayelsa state started an inquiry into the human and environmental impact of spills caused by multinational businesses operating in the region, opening a potential new conflict with companies that pump the bulk of the nation’s crude.

Commodity traders accelerate industry growth with LNG investments

With margins narrowing in the crude oil business, some of the world’s biggest commodity trading houses are helping to reshape the energy industry with a drive into liquefied natural gas.

CERAWeek 2019 seeks to unravel the "new world of rivalries"

CERAWeek by IHS Markit kicked-off in downtown Houston, on Monday, March 11. The week-long event focuses on providing meaningful dialogue, aimed at solving the various challenges facing the energy industry.

LNG Canada CEO sees no scenario that would stop its project

The head of LNG Canada said he does “not see a single scenario” that would stop the nation’s largest infrastructure project from getting built, dispelling concerns that the $30 billion gas export facility is at risk of mounting opposition from pipeline foes.

Oil's big reset: Energy majors learn to thrive after price crash

When OPEC started an oil-price war in late 2014, most people believed U.S. shale was doomed.

Norwegian oil hits barricades as ally Labor hints at break

For establishment politicians in Norway, discussing changes to the country’s oil policies is akin to swearing in church.