How Canadian Drillers Adapt To Extreme Crude Discounts

Canada’s oil producers had just started to slowly recover from the oil price crash when they began to face increased constraints in marketing and monetizing their heavy crude oil. Transportation bottlenecks widened the discount to which Western Canadian Select (WCS)—the benchmark price of oil from Canada’s oil sands delivered at Hardisty, Alberta—trades relative to West […]

Why Putin’s oil maneuvers will keep Russia in the Middle East

As Vladimir Putin enters his next term, it’s virtually certain Russia’s presence and engagement in the Middle East will continue and deepen — in large part because the state budget is heavily dependent on oil revenue. Here’s the story. Russia depends on oil revenue to finance both military and social spending. Rather than risk major […]

Frenemies in the Timor Sea

East Timor and Australia are friends again. But a grudging friendship for mutual benefit that replaces the outright animosity that existed before. And like most fallouts, it revolved around money. In 1974, the collective Greater Sunrise fields were discovered in the Timor Gap, an area of the Timor Sea that lies between Australia and then-Portuguese […]

Is Russia Cheating On The OPEC Deal?

The March production level showed the first increase since December 2017, and is slightly above Russia’s quota in the production cut deal. Russia’s pledge in the OPEC/non-OPEC deal is to shave off 300,000 bpd from its October 2016 level, which was the country’s highest monthly production in almost 30 years—11.247 million bpd. Last month, the […]

Geopolitical Eruptions in the Eastern Mediterranean

n the ancient world, the Fertile Crescent was a semicircle in the easternmost part of the Mediterranean that gave rise to some of the world’s greatest civilisations, including the Egyptian, Mesopotamian, Assyrian, Babylonians and Anatolian empires. In modern times, this stretch of water has been the site of some of the greatest hydrocarbon discoveries in […]

Worries About Looming Oil Supply Gap Are Overstated

OPEC, the International Energy Agency (IEA) and a host of Big Oil executives are sounding the alarm about a looming supply gap and potential price spike sometime after 2020. The reason: a sharp plunge in upstream investment in the years following the 2014 oil price collapse. History is on their side, as traditionally prolonged periods of […]

Augmented Reality Is A Game Changer For Oil & Gas

Augmented reality and virtual reality technology is expanding beyond gaming and beyond chasing and catching Pokemon. Now, it’s hit the oil industry and aims to save it money. The oil and gas industry has started using AR to fix and maintain equipment at oil and gas facilities, cutting downtime and costs and saving on travel […]

Russia-Saudi ‘permanent’ oil alliance won’t scare US shale

Oil giants Russia and Saudi Arabia’s efforts to extend a deal, which is aimed at cutting supply for another 10 to 20 years to drive up prices, won’t scare off surging U.S. shale production, experts say. But a long-term pact by the world’s top two crude oil producers would effectively formalize an alliance between them, […]

Decommissioning – To End or Extend?

The challenging conditions faced in today’s oil and gas market has increased the focus on cost effective, sustainable operations. Operators are faced with the decision of extending or ending offshore production asset life and pre-decommissioning planning has emerged as a key challenge for the industry. Mitigating uncertainty, enabling decision making and justification as to whether […]

Oil, natural gas fuel wildlife recovery

Petitioners were gathering signatures in Michigan last June to place a ban on fracking — the extraction of natural gas from shale deposits — on this year’s ballot when a cougar was photographed near Lansing. What do these things have to do with each other? More than you might think. The cougar sighting is one […]