Oil

Cal on February 17th, 2018

In its latest Energy Outlook to 2040, ExxonMobile projects global transportation-related energy demand will increase by close to 30% by 2040. At the same time, total miles traveled per year by cars, sport utility vehicles and light trucks will increase about 60%. Exxon predicts a rise in electric vehicles as well as efficiency improvements in conventional […]

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Cal on February 14th, 2018

Russia is sending its highest quality crude oil to China in its battle for market share on the prized Asian market. As a result, European petroleum refiners are being left with lower-quality imports from Russia and are now reviewing how much Russian crude they would buy and at what price. The quality of Russia’s Urals […]

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Cal on February 9th, 2018

CNBC tells about the race between China, Russia and the US to control the Arctic, including its oil and gas resources. Meanwhile, The Diplomat writes about the geopolitics behind Asia’s energy future. See also How soaring U.S. oil exports to China are transforming the global oil game. The US Energy Information Administration says that country is on […]

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Cal on February 6th, 2018

According to US Energy Information Administration estimates, US crude oil  production broke through 10 million barrels per day last week and is on its way toward setting an all-time US production record. Investment banker Goldman Sachs sees crude oil prices reaching $80 a barrel in the next six months while others are talking about prices […]

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Cal on January 23rd, 2018

Imports are expected to make up more than 70% of China’s crude oil supply in 2018. Last year China overtook the US as the world’s largest oil importer. The world’s hottest offshore prospect for oil companies right now is off the South American coast of Guyana, where a string of major discoveries has drawn hundreds […]

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Cal on January 17th, 2018

According to the International Energy Agency, the petrochemical industry will represent the largest global demand for additional crude oil consumption through 2040. The US Energy Information Administration predicts natural gas will generate 33.1% of US electricity this year, up from 31.7% in 2017 and will rise to 34.3% in 2019. At the same time, coal-fired generation […]

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Cal on January 11th, 2018

Amid the strife, turmoil and corruption in Venezuela, its oil production has sunk to a 28 years low, to levels not seen since 1989. This in a world of increasing oil demand. Torbjorn Kjus, oil market analyst with Norway’s DNB Bank, said: “The Venezuelan economy could collapse at any moment. We could envisage scenarios spanning from outright […]

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Cal on January 8th, 2018

The most significant development for world crude oil prices is the lack of investment in conventional oil which constitutes about 90% of the world’s oil supply.  Multiple voices are warning about the lack of investment in the energy sector. The International Energy Agency reports that last year energy companies approved the lowest number of new […]

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