Pacific Northwest LNG just needed a “re-think”

In retrospect, it will be seen as a good decision. Petronas is pulling out of the US$29 billion Pacific Northwest LNG project in British Columbia, Canada. The Malaysian state oil company cited ‘prolonged depressed prices and shifts in the energy industry’ as the reasons for exiting the long-gestating project. The former refers to the current […]

This Oil Price Rally Has Reached Its Limit

Last week, crude oil rallied the most so far this year, gaining more than 8 percent, or $4 per barrel. Oil traders are much more optimistic than they were just a month ago, and the market is on the upswing. However, the rally could run out of steam in the not-so-distant future, a familiar result […]

OPEC’s Game-Theory Dilemma

Over the last few years, producers belonging to the Organization of Petroleum Exporting Countries have had mixed success at winning the price-setting “game” for oil. To stand a better chance of regaining durable control, they must do a much better job of working together, and, importantly, they need to do so in a much broader […]

Opinion: Deep pocket justice serves lawyers, not Louisiana

Deep pocket justice. That seems to be the flawed philosophy behind the ongoing legal attack that some politicians and personal injury attorneys are waging against Louisiana’s oil and gas industry. They cloak their campaign in green and purport to carry the banner of environmental justice, but make no mistake: this legal scheme is all about […]

Shape Shifting!

The Majors ‘shape shift’ whilst E&Ps slumber! Despite my feeble attempts at damning current newspaper articles as “silly season” journalism, here I touch on a couple of interesting ones from the Times on Friday and today. Firstly, one about Shell – similarly to BP – adopting a ‘lower forever’ mind-set on oil prices, according to […]

Oil, gas royalties are vital for rebuilding Louisiana’s coast: Editorial

Louisiana leaders are trying to make sure President Donald Trump understands how devastating the loss of offshore oil and gas royalties would be for our state. Almost 300 businesses, local governments, economic development organizations, civic groups, ports and outdoors organizations signed on to a July 11 letter asking the president to rethink his proposal to […]

Oil price, Faroe Petroleum, Echo Energy, Tullow Oil, Range Resources, Petrofac, And finally…

New best friends Russia and Saudi Arabia are underpinning the market, to a degree although longevity is always uncertain. The KSA after having surprisingly ‘unadhered’ to its own quota in May has now accepted its punishment and will cut back more in August and September. The Russians are at their -300,000 b/d cut although longer […]

The silly Season!

ome years ago, given my blank response to a question, one of my bosses at Beyond Prudence decided to educate me about “The Season” which (apparently) once was the summer period when ‘debutante’ balls were on in London and South East England but now describes the period from the Chelsea Flower Show via the Derby […]

Oil price, Pantheon Resources, And finally…

Brent was never going to hold over 50 bucks, not this time anyway as predicted last week, a run up during the week had the air taken out of it on Friday when it became clear late on that deeper production cuts were not on the agenda for today’s meeting in St Petersburg. Indeed it […]

Researchers have been underestimating the cost of wind and solar

How should electricity from wind turbines and solar panels be evaluated? Should it be evaluated as if these devices are stand-alone devices? Or do these devices provide electricity that is of such low quality, because of its intermittency and other factors, that we should recognize the need for supporting services associated with actually putting the […]