With global oil markets currently heavily oversupplied and US shale looking likely to take the position of swing producer in the short term, does the US or world really need more oil?
With global oil markets now largely rebalanced these risks have become more acute.
As more pipelines are built to take oil to a coast, North American prices will continue to merge
with global oil markets.
Aramco's vision is to establish faster and cheaper transactions, integrity, transparency and overall upgrade the way we interact
with the global oil market using blockchain technology.
Not exact matches
Global oil supply rose in June as compliance
with an OPEC - led deal to freeze production showed signs that it was stalling, the International Energy Agency (IEA) noted in its latest
market report on Thursday.
OPEC, along
with Russia and several other producer nations, is keeping 1.8 million barrels a day off the
market through the end of the year in order to shrink
global stockpiles of
oil.
Russia independently or in conjunction
with allies Iran and Syria could flood
global markets, thus dropping prices for not only themselves, but for those on the other side of the Syrian conflict, predominantly impacting Saudi Arabia and the US — the number two and three world
oil producers, respectively.
The speech to the «
Oil and Money» conference in London presents an overall vision for transforming Canada from a continental energy player to a global energy powerhouse, a vision that includes improved trade relations with Asia and a major expansion of infrastructure — pipelines, in other words — to get Alberta oil to far - flung marke
Oil and Money» conference in London presents an overall vision for transforming Canada from a continental energy player to a
global energy powerhouse, a vision that includes improved trade relations
with Asia and a major expansion of infrastructure — pipelines, in other words — to get Alberta
oil to far - flung marke
oil to far - flung
markets.
Helima Croft,
global head of commodity strategy at RBC Capital
Markets, discusses the four countries cutting diplomatic ties
with Qatar and how it will affect the
oil stocks.
Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, and capital
markets conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) the Company's credit ratings and its cost of capital; (3) competitive conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and
market acceptance of new product offerings; (6) the availability and cost of purchased components, compounds, raw materials and energy (including
oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays
with the phased implementation of a
global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) financial
market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10 - K for the year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
Early into this year, analysts and investors were way more optimistic about the
oil price recovery, but as
global inventories continued to stay high and OPEC lost its
market charm
with the cuts and compliance, prices started dropping again, and WTI has traded mostly below US$ 50 — and frequently below US$ 45 — since early March.
Risks associated
with investing in Industrials include the possibility of a worsening in the
global economy, acquisition integration risk, operational issues, failure to introduce to
market new and innovative products, further weakening in the
oil market, potential price wars due to any excesses industry capacity, and a sustained rise in the dollar relative to other currencies.
NEW YORK (AP)-- The latest on developments in
global financial
markets (all times local): 4:00 p.m. Technology and consumer stocks pulled the broader
market slightly lower, even as energy stocks rallied along
with the price of
oil.
This weighed on
oil stocks,
with Cobalt International Energy (NYSE: CIE), California Resources Corp. (NYSE: CRC), SM Energy (NYSE: SM), and Sanchez Energy Corp. (NYSE: SN) pacing producers lower this week, each dropping double digits according to data from S&P
Global Market Intelligence.
Russia is considering a wide range of scenarios on what to do
with a multilateral effort to balance the
global oil market, its energy minister said.
Faced
with a
global glut of
oil supply,
markets have been largely immune to geopolitical risk.
The problem
with this argument is that what is good for
oil producers and exporters is inversely bad for major
oil consumers and importers like the United States, Europe, and China in this zero sum game of
global energy
markets.
Fast forward 6 months and the
global energy
market is in a state of flux
with oil prices having declined approximately 50 % due to robust and unexpected supply growth.
But as the consortium of Asian energy companies that submitted the Canadian project for regulatory approval three years ago weighs it's options in a
global energy
market now flooded
with cheap
oil and gas, and further considers the 190 conditions attached to Ottawa's approval, including a cap on annual green house gas emissions, it may be some time before this project crosses the finish line.
Even
with reports of U.S.
oil production driving more than 10 million barrels of
oil a day, the decline in
global oil stockpile continues to support the
market.
«
With greater confidence that the
global oil market can finally shift into deficit later next year, we now believe that there is a strong rationale for low - cost producers to deliver a swift production cut to normalize inventories,» Goldman analysts wrote in a research note this week.
Nigeria has reaffirmed its commitment to continue working
with other players for the stability of the
global oil market.
Following the
global report indicating that Ghana's
market has been flooded
with toxic diesel, it has been reported that data from the National Petroleum Authority (NPA) has revealed that Bulk
Oil Storage and Transport Company Limited (BOST), the state owned strategic reserve holder, accounts for a significant 25 % of the total quantity of diesel imported into the country for the first six months of 2016.
Following the
global report indicating that Ghana's
market has been flooded
with toxic diesel, it has been reported that data from the National Petroleum Authority (NPA) has revealed that Bulk
Oil Storage and Transport Company Limited (BOST), the state owned strategic reserve holder, accounts for a significant 25 % of the total quantity of diesel imported into the country for the first...
The issue is not whether the U.S. can significantly reduce its reliance on
oil imports
with domestic, offshore
oil, say both Kaufman and Nathan, but whether there is enough that is recoverable to significantly lower the price of a barrel of
oil on the
global market.
With my continuing bullish view on
oil and other commodities (and the inflation risks posed by
global QE), Russia presents a compelling
market opportunity.
That product breadth has been deliberately engineered in response to a few factors: (1) the growing sophistication of trading strategies that require more flexibility, (2) an increased focus on cost efficiencies associated
with clearing, prompting the expansion of cleared products, and (3) the need for greater access to the
global oil markets.
In addition to
market challenges, however,
oil companies face something they've never dealt
with before: A
global call to shift the world's economies to renewable and low - carbon energy.
An IEA collective action would be initiated in response to a significant
global oil supply disruption and would involve IEA Member Countries making additional volumes of crude and / or product available to the
global market (either through increasing supply or reducing demand),
with each country's share based on national consumption as part of the IEA total
oil consumption.
The United States is the world's leading producer of
oil and natural gas, resulting in lower
oil imports and an opportunity for the U.S. to compete
with other producers in the
global market.
Global oil supply growth plunging,
with US taking biggest hit for now IEA medium - term report sees
oil market rebalancing in 2017, but investment cuts pose supply security risks down the road 22 February 2016
He holds a majority controlling share in Reliance Industries Limited (RIL), a company
with a
market capitalisation of $ 47 billion and
global business interests that include petrochemicals,
oil, natural gas, polyester fibre, Special Economic Zones, fresh food retail, high schools, life sciences research and stem cell storage services.
Proceedings: Friday 4 May Opening remarks Welcome by Mr, Sefa Sadık AYTEKIN, Deputy Undersecretary, Ministry of Energy and Natural Resources, Turkey Keynote address by H.E. Thamir GHADHBAN, Chairman of the Prime Minister's Advisory Commission, Iraq Workplan of WEO - 2012 Iraq Energy Outlook by Dr. Fatih BIROL, Chief Economist, IEA Session 1: Energy in Iraq — fuelling Iraq's reconstruction and development Chair: Mr. Simon STOLP, World Bank Introductory interventions: H.E. Martin KOBLER, Special Representative of the United Nations Secretary General for Iraq Dr. Usama KARIM, Advisor to the Deputy Prime Minister for Energy, Iraq Dr. Kamal AL - BASRI, Chairman of the Iraq Institute for Economic Reform Open discussion Session 2: Iraq's electricity sector — short term needs and long - term interests Chair: Mr. Hamish MCNINCH, International Expert Introductory interventions: Dr. Majeed ABDUL - HUSSAIN, Parsons Brinckerhoff Dr. Abdul Qader AHMED, Mass
Global Open discussion Special address: Mr. Tariq SHAFIQ, Managing Director, Petrolog & Associates Session 3: Iraq's oil and gas supply — managing the development of a huge resource Chair: Mr. Tariq SHAFIQ, Managing Director, Petrolog & Associates Dr. Ali AL - MASHAT, Advisor, Prime Minister's Advisory Commission, Iraq Ms. Ruba HUSARI, Managing Director, Iraq Insight Open discussion Session 4: Iraq and international markets — impacts on regional and global balances Chair: H.E. Thamir GHADHBAN, Chairman of the Prime Minister's Advisory Commission, Iraq Introductory interventions: Dr. Mussab AL - DUJAYLI, former Director General, State Oil Marketing Organisation Mr. Jonathan ELKIND, Principal Deputy Assistant Secretary, Department of Energy of the United States Ms. Coby VAN DER LINDE, Director of the Energy Programme, Clingendael Institute, the Netherlands Open discussion Session 5: Summary and conclusions Co-Chairs: H.E. Fareed Yasseen, Ambassador of Iraq to France and H.E. Nick Bridge, Ambassador of the United Kingdom to the OECD Tour de table with recommendations for key topics and areas of study for consideration in the WEO - 2012 Concluding remarks by Dr. Fatih BIROL, Chief Economis
Global Open discussion Special address: Mr. Tariq SHAFIQ, Managing Director, Petrolog & Associates Session 3: Iraq's
oil and gas supply — managing the development of a huge resource Chair: Mr. Tariq SHAFIQ, Managing Director, Petrolog & Associates Dr. Ali AL - MASHAT, Advisor, Prime Minister's Advisory Commission, Iraq Ms. Ruba HUSARI, Managing Director, Iraq Insight Open discussion Session 4: Iraq and international markets — impacts on regional and global balances Chair: H.E. Thamir GHADHBAN, Chairman of the Prime Minister's Advisory Commission, Iraq Introductory interventions: Dr. Mussab AL - DUJAYLI, former Director General, State Oil Marketing Organisation Mr. Jonathan ELKIND, Principal Deputy Assistant Secretary, Department of Energy of the United States Ms. Coby VAN DER LINDE, Director of the Energy Programme, Clingendael Institute, the Netherlands Open discussion Session 5: Summary and conclusions Co-Chairs: H.E. Fareed Yasseen, Ambassador of Iraq to France and H.E. Nick Bridge, Ambassador of the United Kingdom to the OECD Tour de table with recommendations for key topics and areas of study for consideration in the WEO - 2012 Concluding remarks by Dr. Fatih BIROL, Chief Economist,
oil and gas supply — managing the development of a huge resource Chair: Mr. Tariq SHAFIQ, Managing Director, Petrolog & Associates Dr. Ali AL - MASHAT, Advisor, Prime Minister's Advisory Commission, Iraq Ms. Ruba HUSARI, Managing Director, Iraq Insight Open discussion Session 4: Iraq and international
markets — impacts on regional and
global balances Chair: H.E. Thamir GHADHBAN, Chairman of the Prime Minister's Advisory Commission, Iraq Introductory interventions: Dr. Mussab AL - DUJAYLI, former Director General, State Oil Marketing Organisation Mr. Jonathan ELKIND, Principal Deputy Assistant Secretary, Department of Energy of the United States Ms. Coby VAN DER LINDE, Director of the Energy Programme, Clingendael Institute, the Netherlands Open discussion Session 5: Summary and conclusions Co-Chairs: H.E. Fareed Yasseen, Ambassador of Iraq to France and H.E. Nick Bridge, Ambassador of the United Kingdom to the OECD Tour de table with recommendations for key topics and areas of study for consideration in the WEO - 2012 Concluding remarks by Dr. Fatih BIROL, Chief Economis
global balances Chair: H.E. Thamir GHADHBAN, Chairman of the Prime Minister's Advisory Commission, Iraq Introductory interventions: Dr. Mussab AL - DUJAYLI, former Director General, State
Oil Marketing Organisation Mr. Jonathan ELKIND, Principal Deputy Assistant Secretary, Department of Energy of the United States Ms. Coby VAN DER LINDE, Director of the Energy Programme, Clingendael Institute, the Netherlands Open discussion Session 5: Summary and conclusions Co-Chairs: H.E. Fareed Yasseen, Ambassador of Iraq to France and H.E. Nick Bridge, Ambassador of the United Kingdom to the OECD Tour de table with recommendations for key topics and areas of study for consideration in the WEO - 2012 Concluding remarks by Dr. Fatih BIROL, Chief Economist,
Oil Marketing Organisation Mr. Jonathan ELKIND, Principal Deputy Assistant Secretary, Department of Energy of the United States Ms. Coby VAN DER LINDE, Director of the Energy Programme, Clingendael Institute, the Netherlands Open discussion Session 5: Summary and conclusions Co-Chairs: H.E. Fareed Yasseen, Ambassador of Iraq to France and H.E. Nick Bridge, Ambassador of the United Kingdom to the OECD Tour de table
with recommendations for key topics and areas of study for consideration in the WEO - 2012 Concluding remarks by Dr. Fatih BIROL, Chief Economist, IEA
Indeed, these individuals never directly associated
with the directly
oil money funded
Global Climate Coalition, an organization that went away during the 90s, and instead plied their trade in free
market think tanks like George Marshall.
WASHINGTON — Dr Fatih Birol, the Executive Director of the International Energy Agency, held a joint press conference at the National Press Club
with the US Secretary of Energy Rick Perry today where he presented the latest IEA analysis and findings, including on
global energy investments in
oil and natural gas
markets.
OMR: Decision time
With growth in
global oil stocks stalling, it appears the
market has essentially rebalanced 16 May 2017
With enhanced domestic and Canadian production, the country would achieve a certain energy independence: If the world
oil market were to collapse because of a
global war or another catastrophe, America would maintain access to its energy resources, though they could be much more expensive.
Global oil supply to lag demand after 2020 unless new investments are approved soon New five - year market forecast points to a tight global oil market, with spare production capacity in 2022 falling to its lowest share since 2008 6 Marc
Global oil supply to lag demand after 2020 unless new investments are approved soon New five - year
market forecast points to a tight
global oil market, with spare production capacity in 2022 falling to its lowest share since 2008 6 Marc
global oil market,
with spare production capacity in 2022 falling to its lowest share since 2008 6 March 2017
And anyone who understands the
global oil market knows
oil is fungible,
with prices and supply controlled by the
global market, and that the pipeline would not change that reality (for instance, while we imported over 9 MBPD of
oil in 2015, we exported nearly 5 MBPD of
oil and refined products).
This will give countries
with sizeable
oil reserves, many of which are hostile to the United States, and their cartels even more opportunities to manipulate the
global market for
oil.
Stalled
global oil demand, combined
with a continuing oversupply of light crude
oil, could sour
global market needs for a growing supply of bitumen.
This parallels another EIA report, crediting the surge in U.S. crude
oil production
with a more stabilized
global crude
market:
«If the United States,
with its wide - open and decentralized
oil industry, can act as the swing producer, the
global oil market can function as a genuinely competitive
market.»
(12) the establishment of such a vehicle fleet and distribution system would provide a large
market that would mobilize private resources to substantially advance the technology and expand the production of alcohol fuels in the United States and abroad; (13) the United States has an urgent national security interest to develop alcohol fuels technology, production, and distribution systems as rapidly as possible; (14) new cars sold in the United States that are equipped
with an internal combustion engine should allow for fuel competition by being flexible fuel vehicles, and new diesel cars should be capable of operating on biodiesel; and (15) such an open fuel standard would help to protect the United States economy from high and volatile
oil prices and from the threats caused by
global instability, terrorism, and natural disaster.
WEO - 2017, the International Energy Agency's flagship publication, finds that over the next two decades the
global energy system is being reshaped by four major forces: the United States is set to become the undisputed
global oil and gas leader; renewables are being deployed rapidly thanks to falling costs; the share of electricity in the energy mix is growing; and China's new economic strategy takes it on a cleaner growth mode,
with implications for
global energy
markets.
This is having a major impact on
oil and gas
markets, challenging incumbent suppliers and provoking a major reorientation of
global trade flows,
with consumers in Asia accounting for more than 70 % of
global oil and gas imports by 2040.
Clients
with interests in
oil and gas, electric, nuclear, and renewable energy call on our Chambers - ranked energy team to navigate the complex mix of
global markets and regulation across six continents.
The second quarter of 2014 was positive for the
oil and gas labour market with some regions reporting significant jumps in job vacancies, according to the Hays Oil & Gas Global Job Index Q2 20
oil and gas labour
market with some regions reporting significant jumps in job vacancies, according to the Hays
Oil & Gas Global Job Index Q2 20
Oil & Gas
Global Job Index Q2 2014.
Seasoned chief executive officer
with a stellar history of success building
oil and gas industry companies into
global giants
with a solid
market presence and a sustainable strategic plan for long - term business growth.
According to the
Oil & Gas
Global Salary Guide 2013 that we carried out
with Oil and Gas Job Search, limited skilled labour pools and significant workloads helped keep salaries high in those
markets.