Data shows world crude oil demand in the first quarter of 2020 declined by the largest volume in history – even exceeding declines during the 2009 financial crisis. As economic recovery resumes, the demand for hydrocarbons will begin to rise and will quickly surpass pre-pandemic levels. While the timeline has been delayed as a result of a second wave of lockdowns and sustained travel restrictions, people around the world will still need plastics for their daily activities, roads and vehicles to travel from place to place, goods and services created and shipped with hydrocarbons, and other consumables derived from crude oil. While initial recovery estimates by RARE PETRO, the IEA, and EIA have changed, hydrocarbon demand will still eventually recover to pre-pandemic levels for several reasons.
In this week’s episode of the Periodical Podcast, your hosts Kevin and Tavis uncover the events of 2020 that have left the global petroleum industry in disarray. As the story
In this episode of Monday Madness your host Tavis dives into the history of the potential energy secretary, PEMEX’s domination of Mexico oil production and refining, and Saudi Arabia’s newest
The year 2020 has certainly been a wild one in all aspects of both society and the global economy, but has also left the global petroleum industry in disarray. When global oil demand eventually returns to pre-pandemic levels and ultimately continues to grow, will the world have enough crude to meet demand for the upward trajectory of energy consumption? According to Rystad Energy, the answer is no. They predict the world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the COVID-19 pandemic and the accelerating energy transition. There may not be enough supply in the next 30 years unless exploration speeds up significantly and exploratory capital expenditures of at least $3 trillion is put to the task.
In this episode your host Tavis talks about the hottest new acquisitions, a potential break for Iranian sanctions thanks to administrative changes, and the reality of the new COGCC regulations.
An iconic brand known for cold weather gear is finding itself in the hot seat after refusing to serve West Texas based Innovex Downhole Solutions. Innovex wanted to get its employees The North Face jackets with the company logo on them for Christmas. When the company reached out to The North Face, however, their request was denied based on their industry. Now, the clothing brand is in the hot seat after Innovex CEO Adam Anderson wisely pointed out to a North Face representative how essential the products of the oil and gas industry are for their business.
In this week’s episode of the Periodical Podcast, your hosts Kevin and Tavis highlight that global oil demand is returning and with it, higher oil prices. Unfortunately for consumers, higher
David Forsberg is the Chief Financial Analyst and Managing Partner for Ascent Energy Ventures; a venture fund focused on investments to automate and digitize the energy industry. Mr. Forsberg has
With global economies opening back up with the release of a vaccine for the global pandemic, global oil demand is returning and with it, higher oil prices. Unfortunately for consumers, higher oil prices mean higher prices at the pump in addition to increased costs of many manufactured goods. Since hydrocarbons are wound deep into nearly every facet of our society, price changes are inevitably felt in many sectors of the economy. As oil prices rise, associated production costs will be passed through to consumers rather than kept at the bottom line of operators or refineries. When oil prices rise in the near term, it will be better for investors and the remaining companies in the industry at the expense of people consuming the final products produced.
The Powder River Basin| November 2020 Field Overview The Powder River Basin, known for its coal deposits, is located in Southeast Montana and Northeast Wyoming. The basin is named so
The Permian Basin | November 2020 Field Overview Located in West Texas, the Permian Basin has been producing oil for over 100 years. It leads the US in oil production
The DJ/Niobrara Basin| November 2020 Field Overview Located mainly in the Northeast of Colorado, the Denver-Julesburg Basin consists of five main oil-producing formations: Niobrara sections A-C, Codell, and Greenhorn. These
The Marcellus Shale| November 2020 Field Overview The Marcellus Shale is the largest gas play onshore in the US. Located in the Northeast, it supplies the high demand markets along
The SCOOP/STACK Basin | November 2020 Field Overview Ranking 6th in oil production and 3rd in natural gas production, the SCOOP/STACK play is one of the largest fields within the
Eagle Ford Basin | November 2020 Field Overview A heavy shale play, the Eagle Ford basin is located east of the Permian, stretching from Dallas to San Antonio. Primarily a
California | November 2020 Field Overview California, with both onshore and offshore oil production, has been supplying the U.S. with petroleum products since the 19th century. Operations are primarily focused
The Bakken Shale| November 2020 Field Overview Named after Henry Bakken, the farmer who owned the land where oil was originally discovered, the Bakken Shale is located in North Dakota,
Join your hosts Tavis and Kevin as they break down the biggest news basin by basin for the month of November in their “Basin Breakdown” series. Music: https://www.bensound.com/royalty-free-music
In this episode your host Tavis covers The North Face’s scrooge-like tendencies, China’s goal of gas independence, and the UK government’s promise to stop supporting oil and gas projects internationally.
Last Friday, Baker Hughes reported that the number of oil rigs in the United States rose by 5 to 246 which is the highest number of rigs since mid-May. While this is welcome news for many E&P companies, the news that U.S. petroleum refining capacity has fallen to its lowest level since May 2016 has the markets in a bit of a pickle; and for good reason. With these two metrics moving in opposite directions, crude and product inventories in the United States have begun to rise at a rapid rate once again. Luckily, global demand hit a two month high after wobbling in November when several European nations imposed fresh lockdowns and experts expect this trend to continue as demand for gasoline and diesel is accelerating once again.