Aramco’s Next Plan To Raise Billions Of Dollars
Aramco’s Next Plan The Aramco IPO may now be history, put on indefinite hold several weeks ago, but Saudi Arabia’s funding needs have never been greater. As a result, 32-year-old Crown Prince Mohammed bin Salman, aka MbS, has come up with a “novel” scheme to raise tens of billions for the government. According to the […]
Oil Prices Set For First Weekly Gain In Four Weeks
Oil prices were essentially flat early on Friday morning in quiet trade, but were on track for their first weekly gain in four weeks as tension around a key Middle Eastern chokepoint lent support to the price of oil earlier this week. At 08:07 a.m. EDT on Friday, WTI Crude was down 0.24 percent at $69.44, and Brent Crudewas down […]
The 4 Key Chokepoints For Oil
While everyone has been watching the Strait of Hormuz amid rising tension between the U.S. and Iran, a chokepoint on the other side of the Arabian Peninsula is now at the center of the action. Saudi Arabia temporarily halted all oil shipments through the Bab al-Mandeb strait after Saudi Aramco reported attacks from Houthi rebels on two […]
Oil Prices Unlikely To Breakout Or Collapse
Oil prices took a breather in the second half of July, but the price correction may have been a temporary reprieve rather than the start of another downturn. On Monday, WTI breached $70 per barrel for the first time in over two weeks, rising once again on fears of supply outages. Part of the reason […]
Profitability Is Finally Within Reach For U.S. Shale
The shale industry is on the verge of becoming profitable…for the first time. “Higher prices and operational improvements are putting the US shale sector on track to achieve positive free cash flow in 2018 for the first time ever,” the International Energy Agency (IEA) wrote in a recent report on energy investment. For years, drilling in the […]
Are Europe’s Renewable Goals Too Ambitious?
Wind energy in Europe is expanding, but it is not expanding evenly across the continent, a new report from Wind Europe has revealed. During the first half of the year, there were a total 4.4 GW in new additions, with 3.3 GW of these onshore and the rest offshore. Aside from the fact that this figure was […]
Is A Supply Crunch In Oil Markets Inevitable?
The oil industry is more profitable than at any time in years, yet the industry could fail to supply enough oil to meet global demand in just a few years’ time. A series of second quarter earnings reports over the past two weeks has revealed surging profits across the oil industry, with some companies posting […]
China Sets Up EV Battery Recycling Scheme
While scores of research labs around the world look for ways to replace lithium-ion batteries with cheaper and more reliable alternatives, China has started a pilot EV battery recycling program in anticipation of a boom in EV adoption in the next few years. Reuters cites a statement from the Ministry of Industry and Information Technology saying that […]
PetroChina Sees Huge Boost In Profit
It’s a plight that affects all international oil majors, ranging from UK-based BP, to Irving Texas-based ExxonMobil, the world’s largest publicly traded oil company, to China’s state-owned oil and gas behemoths – their revenue and profits are largely dictated by not only cost cutting, exploration and production and the other myriad of things these companies […]
Analysts See WTI Oil Price Averaging $67 This Year
WTI Crude prices are expected to average $67.32 per barrel this year, and hold steady and range-bound for the rest of 2018 and 2019, as increased supply from OPEC and the United States is expected to meet rising Asian demand and offset supply disruptions from Iran and elsewhere around the world, a monthly Reuters poll of 44 […]