U.S. Majors Cash In as Permian Dominance Widens the Oil Gap
Upstream oil and gas—industry-speak for the exploration and production end of the business—has always been a game of geology, timing, and money. Right now, U.S. oil majors are holding the better hand in the world of E&P. And the reason is simple…
Big Oil’s Power Couple Heads to Guyana
Following the completion of Chevron’s acquisition of Hess Corporation, the U.S. supermajor will need to overcome a previously strained relationship with its biggest competitor at home, ExxonMobil, and work together as joint venture partners in the ho…
Baker Hughes Reports Uptick in U.S. Rig Count
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, following a string of losses for US drillers.The total rig count in the US rose by 7 to 544 rigs…
Why Oil Prices Could See a Significant Upside Shift
The 9th OPEC International Seminar was held in Vienna a week ago, wherein participants discussed energy security, investment, climate change, and energy poverty, with a particular emphasis on balancing these competing priorities. According to commodit…
U.S. Vows to Quit IEA if the Agency Keeps Pushing Green Transition
The United States could abandon the International Energy Agency (IEA) if the organization, created in the aftermath of the 1970s Arab oil embargo, doesn’t return to forecasting energy demand without strongly promoting green energy.“We will do one of…
Russia’s Cheap Oil Ride to India Hits a Fragile Plateau
Freight rates for Russian Urals crude from Baltic ports to India have dipped again in July, falling to $5.0–$5.3 million per Aframax shipment—down from $5.5–$5.7 million in June—as more tankers become available. But traders warn: don’t get too co…
Trump’s Tariff Threat Looms Over Brazilian Oil Exports
Brazil has become the latest target of U.S. President Donald Trump’s ire after the Republican frontrunner threatened 50% tariffs on the South American giant for allegedly persecuting right-wing ex-president Jair Bolsonaro. In a post on Truth Social, …
Brazil, Guyana, Argentina Fuel a New Oil Boom
At the recent gathering of BRICS nations in Brazil, the members’ joint statement contained an interesting assertion. BRICS leaders said that, while recognizing the need for an energy transition, they “acknowledge fossil fuels will still play an impo…
U.S.-Colombia Diplomatic Clash Rattles Energy and Mining Stocks
The bilateral relationship between the U.S. and Colombia has continued to worsen, with both countries recalling their top diplomats last week amid an alleged plot against Colombia’s President Gustavo Petro. Washington acted first, recalling charge d’…
OPEC Production Increase Misguides Markets
Global oil markets are again showing the impact of emotions and misinterpretation. The so-called surprise production increase taken by eight (8) leading members of OPEC is, in principle, not relevant for fundamentals or market stability, as it is only…
Pipeline Disruption Slashes Ecuador Output by 133,000 bpd
Ecuador’s state oil company, Petroecuador, has declared force majeure on its operations after both major crude pipelines, SOTE and OCP, halted flows due to worsening erosion in the Amazonian province of Napo. The company suspended activities this wee…
US Oil Drillers Continue to Back Off On Price Slump
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Thursday, following a 7-rig decrease in the week prior.The total rig count in the US fell by 8…
Oil Falls as U.S. Crude, Gasoline Inventories Rise
Crude oil inventories in the United States increased by 3.8 million barrels during the week ending June 27, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 41…
Iraq Claims Top Spot Among OPEC Crude Suppliers to the U.S.
OPEC’s second-largest producer, Iraq, was the single biggest supplier of crude from the cartel to the United States in May, per data from the U.S. Energy Information Administration (EIA) cited by Iraqi media outlets Shafaq News and IraqiNews.Iraq ran…
Russia Considers Tax Breaks for Natural Gas Producers As Challenges Mount
Russia’s government is weighing the possibility of some tax relief for the giant gas firm Gazprom, which would be paid for by potentially higher taxes on other Russian natural gas producers, a source in the Russian government told Reuters on Monday. …
US Oil Drilling Activity Slumps As Volatile Prices Spook Markets
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 1-rig decrease in the week prior.The total rig count in the US fell by 7 t…