Category Archives: News Intelegence
Shell To Drill New Wells By End-2018 To Shore Up Austr...
MELBOURNE, March 21 (Reuters) – Royal Dutch Shell said on Tuesday it will drill 161 new gas wells at its Queensland operations by the end of 2018, helping to underpin its promise to continue supplying 10 percent of the domestic gas market to help prevent a shortage. The project at its QGC operations in the Surat Basin in southeast Queensland has been planned for …
The Oil Market Is At A Major Turning Point
Often the most important turning points in markets, and in this case the oil market, happen with a whimper rather than a bang. The ongoing crash in the oil market is mostly associated with OPEC’s fateful 2014 Thanksgiving Day decision to abstain from a production cut, thus sending the oil prices tumbling down by close to 10 percent in a single day. This …
Four charts make the case that crude oil has bottomed
A close technical analysis of crude oil could reveal that the commodity is in for a major turnaround. Crude oil, which is down 9 percent year to date, is oversold, according to Piper Jaffray managing director and technical market strategist Craig Johnson. He also recommends taking bullish positions on energy stocks, which tend to move in tandem with crude oil. The commodity’s oversold …
Cut and dried? Oil prices are entering a bearish trend...
Oil prices have entered a bearish trend despite short-term bounces, supply cuts and improved demand estimates. The lateral range of $50-$55 a barrel was recently broken, with the new long-term support level for Brent edging closer to $45-$47 rather than $50 a barrel. With money managers’ net length exposure to crude prices at the highest level in months, the risks for oil prices …
New coal seam gas proposals in Australia bode well for...
London-listed Falcon Oil & Gas is sitting on a potentially huge shale gas resources, but, progress is presently held up by a temporary moratorium on shale gas projects. Falcon was recently boosted by well successes and big gas estimates A new proposal in Australia to lift bans on coal seam gas operations bodes well for AIM quoted Falcon Oil & Gas Ltd (LON:FOG), so …
Oil slips despite weak dollar as U.S. stockpiles remai...
Oil prices slipped on Thursday, as support from a weaker dollar was offset by U.S. crude inventories near record high levels that again raised concerns whether OPEC-led output cuts were starting to drain a global glut. The Organization of the Petroleum Exporting Countries and some non-OPEC producers cut production from Jan. 1 to reduce record stocks of crude. But an oil price rally …
IEA Says Oil Market Could Tilt Into Deficit In 1H If O...
If OPEC maintains its output cuts, demand should overtake supply in the first half of this year, the International Energy Agency says. LONDON, March 15 (Reuters) – Global oil inventories rose for the first time in January as the market grappled with a swell in production last year, but if OPEC maintains its output cuts, demand should overtake supply in the first half …
Oil demand set to ease in 2017, non-OPEC countries see...
Demand growth for oil is expected to drop from 1.6 million barrels a day last year to 1.4 million barrels a day in 2017, the International Energy Agency said in a report on Wednesday, raising further problems for producers as they try to ramp up prices. “Early indicators of 1Q17 (first quarter of 2017) demand support this, with slowdowns seen in January in …
Oil’s decline creating a listless market, says t...
Oil has exerted its pull over the last week of trading, creating a listless market in the wake of its decline, traders told CNBC on Tuesday. “Every time they go above those production levels they’re going to say that it was for in house, basically, storage,” Steve Grasso, director of institutional sales at Stuart Frankel, said in an interview with “Closing Bell.” “I …
King Salman’s massive entourage has been stealin...
Asia’s growing economies are a big deal for Saudi Arabia, which is trying to wean itself off a dependence on oil. “As Saudi looks to the future, Asia of course is front and center,” said Ben Simpfendorfer, CEO of Silk Road Associates. “It is two thirds of the world’s population, half of its economy — and those shares will only grow.” The kingdom …
Oil, gas companies line up for exploration in FATA
Peshawar EFFECTIVE facilitation and improved security environment attracted numerous oil and gas companies, both local and international, for launching exploration projects in resources-rich FATA. The rugged and treacherous landscape of FATA is home to a long held hidden treasure, but ironically successive governments paid little attention towards development of FATA. However, the present federal government paved way for development and revival of economic …
How Shale Is Reshaping The World: Three New Wars
Russia vs. Europe, Iran vs. Saudi Arabia & an Asian Tanker War We recently met with geopolitical strategist Peter Zeihan to discuss world events since the American election and his new book, “The Absent Superpower: The Shale Revolution and a World without America.” In the book, Peter credits energy and resource innovations with reshaping the global geopolitical environment. We covered so much ground in …