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MercoPress, en Español

Montevideo, April 27th 2024 - 02:02 UTC

Tag: Oilprice.com

  • Saturday, April 16th 2022 - 08:43 UTC

    OPEC minimum oil production increase during March

    Crude oil output increased mainly in three Arab Gulf producers—Saudi Arabia, Kuwait, and the UAE, while production in Libya, Nigeria, and Congo declined.

    OPEC oil production increased by just 57,000 barrels per day (bpd) in March from February, as African members’ struggles to pump more crude partially offset increases at the core OPEC members of the Middle East, reports Tsvetana Paraskova for Oilprice.

  • Monday, September 30th 2019 - 08:13 UTC

    Petrobras to concentrate on reducing debt load and deep water exploration

    Petrobras will focus on two things in the coming years: shrinking its debt load and deep water—and ultra-deep water—oil exploration and production

    Petrobras’ administration board has approved an update to its plan for the next five years that is expected to call for the state-run oil and gas company to dump its gas distribution and transport business, its fertilizer business, and its LPG and biodiesel business, according to media reports.

  • Wednesday, August 22nd 2018 - 08:49 UTC

    Oil price war to begin: Saudi Arabia and Iran reignites the market

    Iran has slashed its official selling prices (OSPs) for all grades to all markets for September, looking to monetize what could be its last oil sales to some markets

    The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

  • Saturday, July 28th 2018 - 15:27 UTC

    Strong Dollar could cap oil prices

    The problem for many emerging markets is that oil prices have been going up at the same time. Typically, oil prices trade inversely to the U.S. dollar

    By Irina Slav for Oilprice.com - The strength of the U.S. dollar poses an obstacle to further gains in oil prices. President Trump's trade war with China, which is still in its early stages, has already battered the Yuan.

  • Saturday, July 14th 2018 - 07:48 UTC

    Venezuela’s oil crisis gets worse: Production keeps falling

    The problems plaguing Venezuela’s oil industry are well-publicized, but the situation continued to deteriorate in June

    Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the month, pointing to a grim near-term future that could see total production dip below 1 million barrels per day (mb/d) by the end of the year.

  • 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.

  • Wednesday, October 18th 2017 - 07:16 UTC

    The “Amazon Effect” is coming to oil markets

    Cottonwood Venture Mark P. Mills believes we are on the verge of an oil industry major transformation identical to that Amazon prompted in retail.

    By Irina Slav for Oilprice.com - While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field. Much talk has revolved around how software can completely transform the energy industry, but until recently, it was just talk.

  • Monday, January 4th 2016 - 09:38 UTC

    How far can the Syria Conflict spiral out of control: Interview with Pelicourt

    You know, Putin's probably not too far off in his statement referring to Erdogan's loss of “mind and reason”.

    Business is business, so why not buy oil from ISIS. The Russians claim the Turks are doing it, and in all likelihood even Assad is buying it. No one can fight a war without oil, according to Robert Bensh, partner and managing director of Pelicourt LLC oil and gas company.

  • Tuesday, November 10th 2015 - 07:39 UTC

    Oil megaprojects won't stay on the shelf for long

    Oil majors are scrambling to cut costs, and large-scale projects with high costs and long time-horizons are not making the cut.

    One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production.

  • Tuesday, October 27th 2015 - 10:22 UTC

    Day of reckoning for U.S. shale will have to wait

    Banks are allowing drillers to continue to borrow, which could delay the inevitable balancing needed in the market and a wave of bankruptcies.

    October has been billed as a pivotal month in which indebted shale companies would see their credit lines cut, precipitating a faster consolidation in the industry that would sow the seeds of a rebound.

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