Private Pakistani refiner Cnergyico has recently imported the first Russian crude cargo in the private sector in the South Asian country, a company spokesman has told Reuters.Pakistan has so far imported Russian crude on a government-to-government basis in a...
Month: November 2021
OilPrice.com | Saud Arabia’s Oil Gamble Pays Off With $95 Brent
When back in July Saudi Arabia announced voluntary additional oil production cuts, traders brushed them off. Prices did not move. Everyone was preoccupied with demand in China and the U.S. Three months later, things look very different. The Saudis and Russians...
OilPrice.com | Wary Of Weakening Demand, Saudi Arabia Changes Pricing Strategy
The spike in oil prices to the highest level in more than a year worked wonders for the Middle East. Saudi Aramco is back to buying minority stakes in private Chinese refiners, enjoying the fact that oil prices have been more than $10 per barrel above its...
Rigzone | Surging oil prices fuel fears of dreaded phenomenon
Just a few months ago, investors appeared relatively sanguine about the dreaded prospect of stagnant economic activity and rising inflation.Oil prices surging to the brink of $100 per barrel and the specter of higher-for-longer inflation have renewed concern...
Rigzone | A potential oil price rally to $100 per barrel raises questions over demand destruction
boonchai wedmakawand | Moment | Getty ImagesSupply cuts from heavyweight crude producers have helped drive oil prices near $100 per barrel — fueling some to consider the potential for future demand destruction.Brent crude futures rose 63 cents per barrel from...
OilPrice.com | Exxon Withdraws From Small Oil Exploration Block Offshore Guyana
ExxonMobil and its partner Hess Corp have withdrawn from the Kaieteur exploration block offshore Guyana as they pursue more prolific opportunities in the bigger and highly productive Stabroek block.“Our withdrawal from the Kaieteur block has no impact on our...
Thirsty Thursday: An Inventory Report (9/28/23)
Previous Reports Welcome to this week's Thirsty Thursday: An Inventory Report. I was particularly excited for fall, but it turns out the summer season is stretching long this year. I can't recall if near 90s weather is normal this close to October, but I think we...
Williston News Pulse August 2023
The Williston Basin | August 2023 Field Overview The Williston Basin is a large sedimentary basin along the eastern edge of the Rocky Mountains in western North Dakota, eastern Montana, and southern Saskatchewan, Can. The basin is characterized by thick sequences of...
Eagle Ford News Pulse August 2023
Eagle Ford Basin | August 2023 Field Overview A heavy shale play, the Eagle Ford basin is located east of the Permian, stretching from Dallas to San Antonio. Primarily a gas play with smaller oil plays, it boasts proven reserves of 3.37 billion bbl of oil and 2.5 TCF...
Permian Basin News Pulse August 2023
The Permian Basin | August 2023 Field Overview Located in West Texas, the Permian Basin has been producing oil for over 100 years. The Permian leads the US in oil production and analysts estimate that there is 43 Gbbl of oil still in the Permian; 80% of reserves in...
Powder River Basin News Pulse August 2023
The Powder River Basin | August 2023 Field Overview The Powder River Basin, known for its coal deposits, is located in Southeast Montana and Northeast Wyoming. The basin is named so because it is drained by the Powder River. Major cities in the area include Gillette...
Marcellus Shale News Pulse August 2023
The Marcellus Shale | August 2023 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 East Coast. Most of the basin’s gas is produced through unconventional methods,...