Blog Archives

Saudi Arabia “Takes the Gloves Off”: moment of truth arrives for US shale.

Mark Lewis for Kepler Cheuvreux (no url): “Despite the dramatic recent fall in oil prices, OPEC decided yesterday to maintain its current production quota of 30mbd, thereby compounding market fears of a short-term supply glut and prompting a further sharp drop in the Brent and WTI benchmarks (both down 6.3%… Read-more
Posted in Gas, Oil Tagged with: , , , , , ,

Low oil prices: recession in Russia, revolt in Venezuela?

Guardian: “The sudden slump in oil prices, which have fallen 15% in the past three months, has sent tremors through the capitals of the world’s great oil powers, many of whom could face testing budget crunches if the tendency persists.”… Read-more
Posted in Finance, Oil Tagged with: , , , ,

“Has Saudi Arabia lost control of the oil market?”

Nick Butler on the FT: “Conspiracy theories abound around the oil price fall. A 25 per cent drop in less than three months is certainly exceptional and the assumption is that in a politically driven market a political decision by someone, somewhere must have forced prices down.”… Read-more
Posted in Oil Tagged with: , ,

Investors desert Desertec plan for huge solar farms in desert.

Guardian: “An ambitious project to harness and export solar power generated in Middle East and African deserts has all but folded after the withdrawal of most of the Desertec Industrial Initiative’s shareholders.”… Read-more
Posted in Clean Energy Tagged with: , , , ,

Reuters: “Privately, Saudis tell oil market- get used to lower prices.”

Reuters (exclusive): “Suadi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.”… Read-more
Posted in Oil Tagged with: , ,

Aramco CEO puts oil majors’ unsustainable capex in perspective.

Mark Lewis for Kepler Cheuvreux: (e-mail circular, no url): “Saudi Aramco’s CEO, Khalid A. Al-Falih, warned earlier this week about the huge amount of investment that will be required to bring on new oil supply over the next two decades (a full transcript of Mr. Al-Falih’s comments is available on… Read-more
Posted in Gas, Oil Tagged with: , ,

“Saudi Aramco to invest $400bn to keep oil production steady.” “Saudi Aramco has announced plans to invest $40 billion a year over the next decade to keep oil production capacity steady and double gas production.”… Read-more
Posted in Gas, Oil, Top Ten Signposts to Energy Crisis Tagged with: , ,

al-Husseini: Global oil supply plateau unlikely to extend beyond 2020.

ASPO USA: Sadad al-Husseini interviewed by Steve Andrews: “Since the autumn of 2011, a storyline of “oil revolution” and oil abundance–even “North American energy independence”—has taken the US media by storm.  ….What is your perspective on that storyline?  Should we be bracing for the notion of energy independence in… Read-more
Posted in Change for Good Tagged with: , , ,

NSA & GCHQ spying on OPEC shows Saudi masking of production figures.

Spiegel: “America’s NSA and Britain’s GCHQ are both spying on the OPEC oil cartel, documents from whistleblower Edward Snowden reveal. The security of the global energy supply is one of the most important issues for the intelligence agencies.”… Read-more
Posted in Change for Good Tagged with: , , ,

US oil-and-gas production pulls ahead of Russia and Saudi Arabia.

Guardian: “New estimates released on Friday by the Energy Information Administration showed America pulling ahead of both countries in oil and natural gas production for 2013.”… Read-more
Posted in Gas, Oil Tagged with: , ,

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