Saudi Arabia

Cal on October 4th, 2017

HIS Markit says the Permian basin in the US state of Texas holds 60 to 70 billion barrels of shale oil. This is said to be worth $3.3 trillion and could supply every US refinery with crude oil for the next 12 years. These figures are at odds with much lower estimates by the US Energy […]

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Cal on August 30th, 2017

Experts estimate that the South American nation of Columbia has recoverable shale oil reserves between 2.5 and 7 billion barrels, making these the third-largest in the western hemisphere, after the US and Argentina. In Canada, the list of major oil companies selling off assets and withdrawing from the high-cost oil sands is getting longer. ConocoPhillips, Royal […]

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Cal on August 25th, 2017

China is in the middle of an ambitious nuclear program that could bring its total nuclear electric generating capacity to as much as 200 gigawatts by 2030. Oil and gas giant, Royal Dutch Shell, is going to sell electricity directly to industrial customers in the UK starting next year. This is the first oil company to enter into […]

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Cal on July 26th, 2017

“Currently, there seems to no plan to end the oil glut in sight. The glut seems likely to continue into next year unless a geopolitical upheaval in Venezuela or the Middle East brings about large, unplanned production cuts.” (Energy analyst, Tom Whipple) As of this month, the total US shale basin is producing a record […]

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Cal on May 28th, 2017

The world’s largest oil producers agreed this week to continue to hold back oil production for another nine months in a bid to raise sluggish world crude oil prices. The deal was agreed between members OPEC and non-OPEC producers including Russia. The participants said they would continue to make cuts of 1.8 million barrels of crude oil a day until March […]

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Cal on April 25th, 2017

Demographers have forecast that India may have the largest population in the world as early as 2022, surpassing China. The US Geological Survey reported that two formations in the Gulf Coast Basin might contain as much as 304.4 trillion cubic feet of natural gas plus 1.9 billion barrels of natural gas liquids, making the area the largest […]

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Cal on April 19th, 2017

    China continues to increase its electricity generation from coal, which was up 7% year over year in the first quarter. As domestic coal production only increased by 4% during this quarter, the result is a surge in demand for imported coal which is expected to be 30 million tons higher this year than last year. […]

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Cal on April 11th, 2017

Fitch Ratings Agency is forecasting that global crude oil prices will average $52.50 this year, up from $45.10 in 2016. This figure is still believed to be below the breakeven point for most Middle Eastern oil exporters. Only Kuwait, which is said to have a breakeven point of $45 a barrel is well below the […]

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