China Will Be The Big Winner In OPEC’s Production Decision
When OPEC decided on Nov. 27 not to reduce production below a nearly 3-year-old cap of 30 million barrels a day, the losers were producers such as the United States, whose boom in shale oil requires expensive extraction methods, and Russia, whose economy relies perhaps too heavily on energy. The effect on China, though, is mostly beneficial.
OPEC Fires First Shot In Global Oil Price War
OPEC’s decision not to cut production to shore up oil prices drove down the price of oil even further in a strong challenge to American shale oil producers – or, in less delicate language, the start of an all-or-nothing price war.
OPEC Refuses To Cut Production, Sending Oil Price Down Again
OPEC has resisted the urging of its needier members and has decided not to cut production levels despite the five-month-old plunge in oil prices.
Veteran Oil Minister Says OPEC Alone Can’t Set Oil-Price Levels
OPEC alone can’t be held responsible for setting the price of oil worldwide, a veteran oil minister says, and it’s time for producers outside the cartel to help set acceptable prices for oil.
Follow the Sand to the Real Fracking Boom
When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom.
The Unwelcome Reality For U.S. Coal Exports
U.S. coal export capacity is running well below capacity, and as such, exporting coal from the U.S. west coast is a losing strategy.
Russia Can Survive An Oil Price War
Russia finds itself in familiar territory after a controversial half-year, highlighted by the bloody and still unresolved situation in Ukraine. Nonetheless, the prospect of further sanctions looms low and Russia’s stores of oil and gas remain high.
5 Reasons The Halliburton-Baker Hughes Deal Is Poisoned
Halliburton’s takeover of Baker Hughes is setting out to be the oil and gas merger of the year. One of the largest such deals in years, it has not, however, met with unanimous approval.
By Buying Baker Hughes, Halliburton Aims To Dominate US Fracking
Halliburton Co.’s purchase of Baker Hughes for about $35 billion is designed to cuts costs for the combined companies and help them dominate hydraulic fracturing in North America. It also could make the new Halliburton surpass Schlumberger Ltd. as the global market leader in oilfield services.
Putin Leaves G-20 Meeting Early After Bitterly Chilly Reception
Russia may be getting used to early withdrawals in the news they see. In September and October it saw three major Western oil companies suspend operations with Russian partners to comply with Western sanctions imposed on Moscow’s oil industry. Now their president, Vladimir Putin, left the summit Group of 20 (G-20) of the world’s major economies in Brisbane, Australia, on Nov. 16 even before the leaders issued their final communiqué.
Renewable Energy Will Allow Communist Party Of China To Hold Onto Power
News about the US-China climate change deal was met with an equal measure of praise and doubt. Many observers cheered the fact that the world’s two largest economies had come together on an issue as important as climate change and vowed to take real, measurable steps in curbing emissions. Others saw the announcement as a paper tiger.
Scientists Improve Efficiency Of Organic Solar Cells
Scientists in the United States and Hong Kong have not only discovered the key to improving the efficiency of organic solar cells, but they’ve done so in a way that makes them easy and inexpensive to produce on a commercial scale.
Russia To Build As Many As Eight Nuclear Power Plants For Iran
Moscow and Tehran have signed two contracts under which Russia will build as many as eight nuclear power plants in Iran.
Russia In Weak Position For New Gas Deal With China
In a continued shift towards the east, Russia has inked a second major natural gas deal with China. The latest deal, worth a bit less than the landmark $400 billion natural gas deal in May 2014, could see major volumes of natural gas flowing into western China.
Russia, China Sign New Huge Gas Deal
Just as European nations are trying to wean themselves from an erratic supply of Russian natural gas, so Russia appears determined to reduce its reliance on European customers by signing a second enormous deal to supply gas to China.
GOP Has Big Plans For Energy, But Are The Numbers Right?
In a clear understatement, particularly with regard to the direction of energy policy, President Obama remarked: “Obviously, Republicans had a good night.”
Acceleration Record Set By Electric Car: 0 to 100km In Under 1.8 Seconds
When we think of electric cars, probably the first thing that comes to mind is the Chevrolet Volt, which is smooth running but needs frequent recharging. Plus it’s no speed demon. But there's more to the EV story.
Saudi Cut In Oil Price For US May Lead To Price War
Saudi Arabia’s move to cut the cost of its oil to US customers has injected fear into the oil markets, bringing the price of OPEC crude below $80 and suggesting to some observers that the cartel is preparing for a global price war.
The Driving Force Behind the US Oil Boom
The shale revolution’s sweet spot is oilfield services, the lower-risk backbone of the American oil and gas boom that pays off regardless of a play’s economics.
8 Countries With Nuclear Power Plants Most At Risk Of Tsunamis
The tsunami that destroyed a nuclear reactor at Fukushima, Japan, caused a major re-think of nuclear power. Oilprice.com took a look at the countries whose nuclear power plants would be most vulnerable to a tsunami.