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Battle for Market Share
“World Oil” cites the April monthly report recently issued by the International Energy Agency (IEA) which contends that the battle over global market share, and its impact on oil prices, has just begun. The Paris based body which is the advisor to 29 industrialized nations predicts oversupply, and consequently, low prices in the coming months.… Read More
Shale Production Slides
According to a recent article in “World Oil”, shale oil production will drop over 54,000 barrels per day (bopd) in May, or about 1%. A further drop of approximately 86,000 bopd is anticipated in June, per a recent report by the Energy Information Administration. These production declines are primarily attributable to the Bakken shale in… Read More
Noble to Buy Rosetta
“Rigzone” reports that Noble Energy, Inc. will buy Rosetta Resources for $2 billion and assume its debt of $1.8 billion. The transaction is the latest in a series of combinations driven by the recent collapse of oil prices. The acquisition will be a stock swap. According to recent market valuations, Noble is paying a premium… Read More
Major Oil Export Status for U. S.?
According to a recent article in “World Oil”, at least one consulting firm thinks the U. S. could become a major oil exporter if the current crude export ban is lifted. In a report commissioned by the U. S. Energy Information Administration (EIA), and prepared by Turner, Mason & Co., we could be exporting as… Read More
Statoil’s Alternative View
While most other majors are slashing budgets, rig counts and payrolls, Statoil chooses to merely snip, according to an article in “Rigzone”. In fact, the Norwegian giant is cutting back less than any of its peers. Major oil companies are reducing spending by an average of over 20%. Even ExxonMobil, known for taking the long… Read More
