Energy & Oil

Energy & Oil
Friday, January 16th 2015 - 05:23 UTC

YPF increased output during 2014; refinery strike threatens supply of fuel

The results testify to the sustained work of YPF over the past 3 years that has managed to reverse the decline and maintain production growth, said the release

YPF's oil and natural gas production rose in 2014 for the second year running, Argentina's state-run energy company said on Thursday. Oil production rose 8.7% last year, while gas output was up 12.5%, YPF said, although the company did not publish annual output volume.

Thursday, January 15th 2015 - 08:13 UTC

Five ways to play the oil price plunge

The cost of finding and “lifting” a barrel of oil out the ground varies between $16.88 in the Middle East to $51.60 offshore in the United States

The collapse of the oil price has created losers and winners, and like every major movement in a commodity sector, the trick for investors is figuring out which side of the trade to be on.The most obvious victim of the slide in Brent and WTI prices over the last 6 months has been the major oil producers. Holders of these equities have seen price slides up to 33%.

Thursday, January 15th 2015 - 05:09 UTC

Premier drastically cuts spending; Falklands projects included in 2015 agenda

The company is reducing investments to develop fields by 40% to around U$S 600 million and is renegotiating rates with suppliers of top 25 projects.

UK hydrocarbons producer Premier Oil with strong interests in the Falklands expects to book a 300 million dollars impairment charge due to the plunge in oil prices and plans to cut jobs and investment by 40% compared to 2014, to rein in costs, it said on Wednesday.

Wednesday, January 14th 2015 - 07:47 UTC

OPEC member stands by group's decision not to cut output to tackle glut

United Arab Emirates' oil minister, Suhail bin Mohammed al-Mazroui, said that OPEC's November decision not to cut output had been the right one.

Brent and US WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.

Tuesday, January 13th 2015 - 08:56 UTC

The real cause of low oil prices: Interview with Arthur Berman

Oil prices need to be around $90 to attract investment capital. So, are companies OK at current oil prices? Hell no! They are dying at these prices

With all the conspiracy theories surrounding OPEC's November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. When discussing harsh truths in energy, no sector is in greater need of a reality check than renewable energy.

Tuesday, January 13th 2015 - 07:39 UTC

Goldman Sachs forecasts oil price close to 40 dollars for most of fist half of 2015

The oil price has now fallen by more than half since June, when the price stood at 110 per barrel.

The price of a barrel of the North Sea benchmark dropped on Monday by 5.5% to 47.36 dollars, its lowest level since early 2009. US crude oil was also at its lowest level since that time, down by 5% to 45.90 a barrel.

Friday, January 9th 2015 - 07:37 UTC

Oil and gas exploration companies expected to cut capital expenditure 17%

The survey, based on an average oil price of $70 per barrel, estimates that global exploration and production expenditures will slide 17% to $571 billion.

The world's oil and gas exploration companies are expected to cut capital expenditures 17% this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company released on Wednesday.

Thursday, January 8th 2015 - 06:36 UTC

Top five factors affecting oil prices in 2015

China is the second largest consumer of oil in the world and surpassed the United States as the largest importer of liquid fuels in late 2013

As we ring in the New Year, let's take stock of where we are at with the oil markets. 2014 proved to be a momentous one for the oil markets, having seen prices cut in half in just six months.

Thursday, January 8th 2015 - 05:34 UTC

Maduro announces 20bn dollars in investment credits from China

The Venezuela leader made the statements from Beijing after holding a meeting with Chinese President Xi Jinping.

President Nicolas Maduro said on Wednesday he had secured a total of more than 20 billion dollars in investment from major creditor China for economic, social, and oil-related projects.

Tuesday, January 6th 2015 - 23:11 UTC

Energy crisis as early as 2016

For now Saudi Arabia is willing to let the other OPEC members suffer until the next scheduled OPEC meeting in June.

Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline prices doubling within 18 months. For a commodity as critical to our standard of living as oil is, it only takes a small shortage to drive up the price.

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