Oil price, Faroe, Wentworth, Sundry-Petrofac-Echo-SOCO-Touchstone-Chariot-Sirius- And finally…

A quiet day in the markets according to my man at the bourse, oil gained modestly as reports of the Saudi export cutbacks to the USA and Far Eastern clients via price rises and restrictions fed through to markets. As we enter the peak of summer in the Gulf, with its highest domestic use of […]

In Search of New Ideas to Revive Indonesias Oil Sector

I was honoured to be asked to write the following article for the Jakarta Post’s special edition that was published for the Indonesian Petroleum Association (IPA) 2017 Conference and Exhibition. This article covers four main areas for oil and natural gas prospecting in Indonesia as follows: Prospective, quality and depth of geological data, regulations and incentives, and what […]

Nigerian output to surge after dodging OPEC cuts

In a boost to Nigerian oil production, Royal Dutch Shell on Tuesday lifted its force majeure on exports of Forcados crude oil shipments. The force majeure, which allows companies to miss contractual obligations as a result of events out of their control, was imposed on 21 February 2016 following militant attacks. Nigeria was recovering from […]

Au Revoir, Paris

So President Trump has pulled America out of the shackles of the Paris Agreement. Back in December 2015, 196 countries of the United Nations adopted the agreement, requiring them to tackle climate change through emissions cuts. Under the previous administration, the US was an enthusiastic proponent of the measure, aiming to reduce its emissions by […]

Letters: Court was right to nix lawsuit

Fake news has been a major topic of discussion lately. While most of this debate has focused on national issues, it is important for informed citizens to differentiate fact from fiction when considering local and state issues as well. Take, for example, the letter written by environmental activist John Barry regarding the demise of the […]

Oil price, Genel, Ascent Resources, President, And finally…

Another down day although the complex moved up quite strongly  initially as traders thought that the Qatar problem might lead to geo-political grief in the Gulf. They soon realised that it may only cause the Opec production agreement to fall apart even though Qatar’s quota is only a 30/- b’d cut. It seems that the start […]

OPEC Failed: What That Means For Oil Prices Now

This wasn’t supposed to happen. Oil prices were supposed to run higher on the heels of an OPEC extension. Traders thought we’d see a return to $60 oil on the hope that an extension would help balance supply and demand…   Click Here for Remainder of Article 

U.S. shale booms and depresses oil prices again: Kemp

U.S. oil production continues to rise relentlessly, frustrating efforts by OPEC and non-OPEC oil exporters to rebalance the global market and secure an increase in the price of crude. After a devastating slump in 2015 and 2016, the U.S. oil industry has returned to strong growth, with drilling and output rising rapidly ( ). U.S. […]

Accelerating the pace of digital change in oil and gas

In my opinion there are three types of oil and gas people on the technical side – we’ll leave aside the support and commercial types for now: • Geoscientists • Drillers • Engineers Geoscientists were the first to move to digital. It was the 1980s and rather than draw contours with coloured pencils and measure […]

OPEC Extends Cuts, Oil Prices Fall: What It Means

OPEC extended oil production cuts last week and oil prices plunged. OPEC’s goal was to keep a floor under current prices but the market expected the cartel to move prices higher through inventory reduction. OPEC was satisfied with greater revenues from higher prices compared to a year ago, but the market wanted deeper production cuts. OPEC takes the long […]