Small crude inventory build leaves oil prices mostly unaffected
Oil Unchanged On Small Crude Inventory Build
Small crude inventory build leaves oil prices mostly unaffected
2021/10/07 18:14
Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd
Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd
The natural gas crunch has increased global oil demand by 500,000 bpd, the chief executive of Saudi Aramco said at this week's Energy Intelligence Forum
2021/10/06 17:05
Arctic Oil Is Booming Despite Strong Opposition
Arctic Oil Is Booming Despite Strong Opposition
Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them.
2021/09/29 18:26
OPEC Sees Global Oil Demand Growing Until 2035
OPEC Sees Global Oil Demand Growing Until 2035
OPEC: Global oil demand is expected to continue to grow into the mid-2030s to 108 million barrels per day.
2021/09/29 18:23
The Energy Crisis Is Sending Oil, Gas, And Coal Prices Soaring
The Energy Crisis Is Sending Oil, Gas, And Coal Prices Soaring
The European energy crisis is going global as the lack of natural gas supply begins to influence oil and coal markets.
2021/09/28 18:46
Hess: Massive Underinvestment In New Production Is A Major Wildcard For Oil
Hess: Massive Underinvestment In New Production Is A Major Wildcard For Oil
The oil industry is “massively underinvesting” in supply to meet growing demand, which is set to return to pre-COVID levels as soon as the end of 2021 or early 2022, Greg Hill, president of U.S. oil producer Hess Corp, said on Monday.
2021/09/28 18:42
Nigeria Doubles Down On Oil After Years Of Trouble
Nigeria Doubles Down On Oil After Years Of Trouble
After months of stalling because of Covid restrictions and OPEC cuts, as well as significant international criticism over misplaced funds, Nigeria appears to be optimistic about the future of its faltering oil industry in a time when few others are.
2021/09/27 15:42
Syncrude has cut its bitumen production for this month due to a mechanical disruption. which will likely contribute to a price rising.
Crude Prices Jump On Oil Sands Outages
Syncrude has cut its bitumen production for this month due to a mechanical disruption.
This will likely contribute to a price rally in oil sparked by demand worries and tight supply as much of U.S. Gulf of Mexico production remains offline in the wake of Hurricane Ida, which at one point shut down more than 95 percent of Gulf oil output.
2021/09/24 19:39
Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them.
Arctic Oil Is Booming Despite Strong Opposition
Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them.
2021/09/24 19:32
Colombia has been a violence riven country that has been a major hub in the global cocaine trade and it's one of Latin America’s largest oil producers.
Cocaine And Crime Are Amplifying Colombia’s Crude Oil Crisis
For as long as many people remember Colombia has been a violence riven country that has been a major hub in the global cocaine trade. What many people do not realize is that Colombia is one of Latin America’s largest oil producers. For the first seven months of 2021, Colombia pumped an average of 730,015 barrels per day, ranking it as the region’s third largest producer behind Mexico and then Brazil.
2021/09/24 19:25
International companies are starting to give up on Venezuela
International Oil Companies Are Giving Up On Venezuela
Despite huge oil reserves waiting to be tapped, the ongoing sanctions on Venezuelan oil and the current state of politics and the economy are driving international oil majors away from the Venezuelan energy market.
2021/09/24 19:21
Russia’s Prime Minister Urges Country To Prepare For Post-Oil Era
Russia’s Prime Minister Urges Country To Prepare For Post-Oil Era
Russia must start getting used to lower oil, gas, and coal use in the future, Prime Minister Mikhail Mishustin told Russian media, adding that the government will approve a plan for adjusting Russia's economy to the global energy transition by the end of the year, TASS has reported.
2021/09/23 17:57
Small crude inventory build leaves oil prices mostly unaffected
Oil Unchanged On Small Crude Inventory Build
Small crude inventory build leaves oil prices mostly unaffected
Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd
Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd
The natural gas crunch has increased global oil demand by 500,000 bpd, the chief executive of Saudi Aramco said at this week's Energy Intelligence Forum
Arctic Oil Is Booming Despite Strong Opposition
Arctic Oil Is Booming Despite Strong Opposition
Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them.
OPEC Sees Global Oil Demand Growing Until 2035
OPEC Sees Global Oil Demand Growing Until 2035
OPEC: Global oil demand is expected to continue to grow into the mid-2030s to 108 million barrels per day.
The Energy Crisis Is Sending Oil, Gas, And Coal Prices Soaring
The Energy Crisis Is Sending Oil, Gas, And Coal Prices Soaring
The European energy crisis is going global as the lack of natural gas supply begins to influence oil and coal markets.
Hess: Massive Underinvestment In New Production Is A Major Wildcard For Oil
Hess: Massive Underinvestment In New Production Is A Major Wildcard For Oil
The oil industry is “massively underinvesting” in supply to meet growing demand, which is set to return to pre-COVID levels as soon as the end of 2021 or early 2022, Greg Hill, president of U.S. oil producer Hess Corp, said on Monday.
Nigeria Doubles Down On Oil After Years Of Trouble
Nigeria Doubles Down On Oil After Years Of Trouble
After months of stalling because of Covid restrictions and OPEC cuts, as well as significant international criticism over misplaced funds, Nigeria appears to be optimistic about the future of its faltering oil industry in a time when few others are.
Syncrude has cut its bitumen production for this month due to a mechanical disruption. which will likely contribute to a price rising.
Crude Prices Jump On Oil Sands Outages
Syncrude has cut its bitumen production for this month due to a mechanical disruption.
This will likely contribute to a price rally in oil sparked by demand worries and tight supply as much of U.S. Gulf of Mexico production remains offline in the wake of Hurricane Ida, which at one point shut down more than 95 percent of Gulf oil output.
Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them.
Arctic Oil Is Booming Despite Strong Opposition
Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them.
Colombia has been a violence riven country that has been a major hub in the global cocaine trade and it's one of Latin America’s largest oil producers.
Cocaine And Crime Are Amplifying Colombia’s Crude Oil Crisis
For as long as many people remember Colombia has been a violence riven country that has been a major hub in the global cocaine trade. What many people do not realize is that Colombia is one of Latin America’s largest oil producers. For the first seven months of 2021, Colombia pumped an average of 730,015 barrels per day, ranking it as the region’s third largest producer behind Mexico and then Brazil.
International companies are starting to give up on Venezuela
International Oil Companies Are Giving Up On Venezuela
Despite huge oil reserves waiting to be tapped, the ongoing sanctions on Venezuelan oil and the current state of politics and the economy are driving international oil majors away from the Venezuelan energy market.
Russia’s Prime Minister Urges Country To Prepare For Post-Oil Era
Russia’s Prime Minister Urges Country To Prepare For Post-Oil Era
Russia must start getting used to lower oil, gas, and coal use in the future, Prime Minister Mikhail Mishustin told Russian media, adding that the government will approve a plan for adjusting Russia's economy to the global energy transition by the end of the year, TASS has reported.

Oil And Gas Companies Set For Record Free Cash Flow This Summer

2021/06/25 15:28
Oil And Gas Companies Set For Record Free Cash Flow This Summer

With oil trading above $70 per barrel while investment activity remains low, the world’s publicly traded exploration and production (E&P) companies are set to generate record-breaking free cash flows (FCF) in 2021, a Rystad Energy report projects. Their combined FCF is expected to surge to $348 billion this year, with the previous high being $311 billion back in 2008.

Rystad Energy estimates that total gross revenue for all public upstream companies is expected to increase by almost $500 billion in 2021, or 55% compared to last year (excluding hedging effects). At the same time, the investment level of these companies is only expected to grow by around 2% in 2021, resulting in significantly higher profits.

A key reason for the all-time-high FCF is the turnaround in the US tight oil industry. Historically, this industry has struggled to generate positive returns, but this could change in 2021. We estimate that all public tight oil companies will to make close to $60 billion in FCF this year, before hedging effects.

The conventional onshore supply segment is in line to earn the highest level of FCF this year at close to $160 billion – but is still behind the record touched in 2011. Both deepwater and offshore shelf are recovering this year, each ending up with close to $60 billion in FCF. However, tight oil is expected to surpass both these offshore segments in 2021.

“Oil demand has gradually increased after the initial shock of the Covid-19 pandemic, and OPEC+ continues to hold back volumes from the market. The consequent high price movement has been further supported by a slow ramp-up in US tight oil activity. In conjunction with the persisting low investment environment, E&Ps are enjoying super-profits,” says Espen Erlingsen, head of upstream research at Rystad Energy.

The FCF comeback means more surplus cash for E&P companies and historically there has been a strong link between FCF and activity levels. Merger and acquisition (M&A) activity has recovered in 2021, with transaction values increasing by around 30% compared to 2020. New projects are also making a comeback: The amount of greenfield investment that has been sanctioned as of June has already matched the full year 2020 total, and we expect the full 2021 level to be double that of last year.