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Iran’s Plans
“World Oil” reports that Iranian Oil Minister, Bijan NamdarZanganeh, has stated that his country will raise its oil production just as soon as internationally imposed sanctions are lifted. He contends that failing to do so would mean permanently relinquishing market share. Among OPEC countries, Iran was second only to Saudi Arabia in terms of production… Read More
Global Energy Deals
When oil prices started collapsing in late 2014 many industry observers speculated as to when a wave of mergers and acquisitions (M & A) in the energy sector would begin. According to a recent article in “Rigzone” the move toward combinations is now in full force. With prices now about two-thirds off their highs of… Read More
Oil Export Ban Repeal?
“Rigzone” reports that Evercore ISI predicts a repeal of the crude oil export ban in the first quarter of next year. Terry Haines, an analyst at Evercore, foresees the repeal including a critical provision which would allow Barack Obama to set export levels. While some in congress support a complete lifting of the embargo, many… Read More
LNG Growth
“World Oil” cites a recent report by Global Data which projects global Liquefied Natural Gas (LNG) capacity more than doubling by 2019. Current capacity of 341 million tonnes per year (mtpa) is expected to grow to 811 mtpa based on projects already scheduled for construction. This global trend is led by unprecedented growth in North… Read More
IEA Forecast
A recent article in “World Oil” cites the latest forecast from the International Energy Agency, the advisor to 29 oil consuming nations. The report predicts that record world-wide oil inventories will persist through 2016 in spite of surging demand and falling non-OPEC production. In fact, the agency foresees global stockpiles building even further. Predictably, prices… Read More
