Daily News

President says Egypt ‘scored a goal’ with Israel gas deal

Egypt’s president says his country “scored a goal” by signing a $15 billion deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub. Abdel-Fatah el-Sissi said in televised comments on Wednesday that the project “has a lot of advantages” for Egyptians. Delek Drilling and its U.S. […]

By February 21, 2018 0 Comments Read More →

Brazil’s Coming Oil Boom Will Weigh On Oil Prices

It has been an appalling few years for Brazil’s energy patch. Weaker oil prices, sweeping corruption scandals and the worst economic downturn ever have sharply impacted the nation’s oil industry — but improvement might finally be in sight. The aforementioned factors triggered a steep decline in investment, notably from foreign energy majors, preventing Brazil from […]

By February 21, 2018 0 Comments Read More →

OPEC Deal Closer Than Ever To Meeting Market Rebalancing Goals

The OPEC deal is closer than ever to meeting its market rebalancing goals, with OECD inventories now just 74 million barrels above the five-year average recorded in January 2017, according to a report by Reuters. When the output reduction deal went into effect at the beginning of last year, inventories were 340 million barrels above […]

By February 21, 2018 0 Comments Read More →

Outlook for U.S. oil production ‘phenomenal, says Energy official

Dan Brouillette, deputy secretary of energy nominee for U.S. President Donald Trump, speaks during a Senate Energy and Natural Resources Committee nomination hearing in Washington, D.C., U.S., on Thursday, May 25, 2017. Federal lawmakers and industry groups including the Independent Petroleum Association of America and American Petroleum Institute have been urging President Donald Trump to […]

By February 20, 2018 0 Comments Read More →

Peak Oil In Four Years?

Between 2010 and 2015, annual oil production in the U.S. grew by four million barrels per day (BPD). Production dipped in 2016, but then U.S. crude oil production again rose by 1.2 million BPD between January and December 2017 to levels that haven’t been seen since the early 1970s. The surge in production is a […]

By February 20, 2018 0 Comments Read More →

Middle East tensions lend risk premium to the price of oil

Middle East tensions, pitting Israel against Iran, added a geopolitical risk premium to the price of oil in a Monday session thinned by a U.S. federal holiday. Speaking at a security conference in Munich during the weekend, Israeli Prime Minister Benjamin Netanyahu — holding a piece of wreckage said to be from an Iranian drone […]

By February 20, 2018 0 Comments Read More →

Will The Price Of Gas Keep Rising Until We Run Out Of Oil?

The price of gasoline is directly tied to the price of oil. The price of oil is a combination of cyclic, volatile, unpredictable and irrational. It can go down on the word of some blue-suited booby in a 50th floor office in downtown New York who has never even touched a gas pump must less […]

By February 20, 2018 0 Comments Read More →

Egypt’s Potential Gas Surplus Could Feed Global LNG Glut

Egypt faces a possible over-abundance of natural gas after two Israeli companies proposed a $15 billion supply deal, raising the prospect that the Arab nation may turn its surplus into liquefied natural gas and export it to a market currently glutted with LNG. Egypt was already expecting to become self-sufficient in natural gas by the […]

By February 20, 2018 0 Comments Read More →

Fracking Has Its Costs And Benefits — The Trick Is Balancing Them

Hydraulic fracturing, or fracking, is perhaps the most important energy discovery in the last half century. As a result of fracking, U.S. production of oil and natural gas has increased dramatically. This increase has abruptly lowered energy prices, strengthened energy security and even lowered air pollution and carbon dioxide emissions by displacing coal in electricity […]

By February 20, 2018 0 Comments Read More →

In the deepwater versus shale oil contest, Shell backs both

In the week ahead, a more quiet economic schedule faces investors after a run of inflation readings this past week pointed to higher prices coming to the U.S. economy. The U.S. markets were closed on Monday in observation of the President’s Day holiday, bringing investors a shortened week after what have been three-straight volatile weeks […]

By February 20, 2018 0 Comments Read More →