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Montevideo, August 18th 2018 - 14:16 UTC

Tag: us oil

  • Tuesday, May 8th 2018 - 08:14 UTC

    Oil rises to US$ 70 a barrel, ahead of Trump's Tuesday decision on sanctions to Iran

    Trump said a decision on whether to remain in the Iran nuclear deal or to impose sanctions would be announced at 2:00 p.m. EDT (1800 GMT) on Tuesday

    Oil prices rose for the fourth straight day on Monday to hit levels not seen since late 2014, boosted by the latest trouble for Venezuelan oil company PDVSA and the possibility that the United States could re-impose sanctions on Iran.

  • Saturday, April 28th 2018 - 11:10 UTC

    US oil company wins arbitration and Venezuela's PDVSA must pay US$ 2.04bn

    Conoco’s assets in Venezuela were expropriated in 2007 following a nationalization of the country’s oil industry led by late President Hugo Chavez.

    An international arbitration court has ordered Venezuela’s oil company PDVSA to pay ConocoPhillips US$ 2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC-member country, the U.S. firm said.

  • Wednesday, March 7th 2018 - 09:36 UTC

    US shale oil output surge set to influence world market in next five years

    Non-OPEC production is set to rise 5.2 million bpd by 2023 to 63.3 million bpd. Shale oil production will account for over half of the world's output growth

    United States shale oil output is set to surge over the next five years as drillers recover rapidly from a three-year slump, the International Energy Agency said, sharply upgrading its previous growth forecasts. A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output in order to battle a global glut materially improved the outlook for other producers as oil prices rose sharply throughout the year, the IEA said.

  • Monday, March 5th 2018 - 08:25 UTC

    Beware: OPEC and US shale industry scheduled to meet and share dinner in Houston

    OPEC Secretary General Mohammad Barkindo and other OPEC officials are expected to hold a dinner on Monday with U.S. shale firms on the sidelines of the conference.

    Oil prices rose early on Monday ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global oil glut. Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other global oil players are set to gather in Houston as CERAWeek, the largest energy industry conference, begins on Monday.

  • Sunday, March 4th 2018 - 15:58 UTC

    Oil Market Fears: War, Default And Nuclear Weapons

    Verisk Maplecroft surveyed a long list of countries, and produced its Government Stability Index (GSI), which uses some predictive data and analysts forecasts to take stock of geopolitical risk in var

    The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil companies and the oil market, according to a new report.

  • Wednesday, February 14th 2018 - 16:28 UTC

    Clean Oil That Only Costs $20

    If there's one big reason for the U.S. energy revolution, it's that new technology has allowed American companies to beat the competition

    The United States is in the midst of an energy revolution.

    Oil production has risen by 5 million barrels per day (bpd) since 2010, an increase of nearly 100 percent. New technology, particularly techniques in shale oil drilling, has opened up vast new opportunities for oil and gas companies.

  • Monday, February 5th 2018 - 09:08 UTC

    Can The Shale Boom Avoid These Bottlenecks?

    The rig count in the Permian has surged and jumped by 18 in the most recent week for which data is available, to 427, the highest total for the basin since early 2015.

    By Nick Cunningham of Oilprice.com <br />
    <br />
    Shale companies continue to drill at a frenzied pace, adding rigs and breaking U.S. oil production levels with each passing week. Yet, the oil production is becoming increasingly geographically concentrated. Not only is the Permian basin accounting for much of the new oil production in the U.S., but a relatively small number of counties within the Permian are home to most of that action.

  • Friday, February 2nd 2018 - 09:52 UTC

    Why Is The Shale Industry Still Not Profitable?

    The average return on asset for U.S. shale companies “is still a measly 0.8%,” the financial services company wrote in its report.

    By Nick Cunningham of Oilprice.com

    Echoing the criticism of too much hype surrounding U.S. shale from the Saudi oil minister, a new report finds that shale drilling is still largely not profitable. Not only that, but costs are on the rise and drillers are pursuing “irrational production.”

  • Friday, November 28th 2014 - 06:23 UTC

    Oil price plunges as OPEC decides against cutting output despite world glut

    The cartel, whose largest producer and exporter is Saudi Arabia, will meet again in June next year, said an OPEC delegate.

    Brent and US crude oil plunged as much as 6.50 dollars a barrel on Thursday, the steepest one-day falls since 2011 following on OPEC's decision against cutting output despite a huge oversupply in world markets.

  • Monday, July 14th 2014 - 06:07 UTC

    US consolidating as world's biggest oil and natural gas producer

    Oil extraction is soaring at shale formations in Texas and North Dakota as companies apply fracking

    The US will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs US economic recovery, Bank of America Corp. said in a report.