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Big Oil’s War Chest
Recently much attention has been given to the international major oil companies’ struggles to find enough cash to continue to explore, develop high potential projects and maintain or grow dividends. Now, a recent article in “World Oil” reports that the world’s six largest publicly traded oil companies have an acquisition war chest of over half… Read More
Big Oil Thinks Small
“World Oil” reports a strategic shift from megaprojects to shale wells for many of the largest U. S. producers. The realization that oil prices will be “lower for longer” seems to be driving this movement. ExxonMobil, Shell, ConocoPhillips, and Hess have all delayed or abandoned expensive, long lead time, management intensive, and technically challenging projects… Read More
A Former Diplomat Comments
Edward Djerejian served as a diplomat in eight administrations and is currently the director of Rice University’s Baker Institute for Public Policy. A recent article in “World Oil” reports his remarks as a speaker at the annual meeting of the Independent Petroleum Association of America. According to Djerejian, the Saudis are trying to protect their… Read More
Oman’s Solar Project
In several previous posts, I have discussed enhanced oil recovery in general, and Oman’s Miraah project in particular. A recent article in “World Oil” updates the status of the latter. While still in the initial stages, the project is ahead of schedule. The word “miraah” means mirror in Arabic and the facility will be one… Read More
Anadarko’s Assets
“Rigzone” reports that Anadarko’s Chairman and CEO, Al Walker, has told investors that as the crude oil price collapse lingers, he expects shale assets in the Bakken and Eagle Ford shales to be put up for sale. While the industry has been expecting such property sales for quite some time, they have yet to become… Read More
