The US dollar has fallen sharply over the past few months following an impressive push upward for nearly a year. This reversal has helped propel crude prices upward and, in turn, petrochemical prices — a relationship that occurs because crude and many other commodities are priced in US dollars. A weaker dollar means you need more of them to buy a barrel of crude, a bushel of wheat or a bag of polyethylene.
Posts Tagged ‘crude oil’
By Robert Perkins | May 18, 2015 12:01 AM Comments (0)
By Elizabeth Bassett | May 13, 2015 12:01 AM Comments (1)
This month’s version of The Oil Big Five marks its first anniversary and we’re pleased to still be serving up a monthly dose of topics to keep an eye on in the global oil industry.
By Tamsin Carlisle and Adal Mirza | May 11, 2015 12:01 AM Comments (0)
In this week’s Oilgram News column, New Frontiers, Tamsin Carlisle and Adal Mirza illustrate the widely varying states of oil production in a region where reserves and potential are bountiful — if they can be tapped.
From the outside, it can be tempting to lump together the Persian Gulf oil states as a homogeneous mass. After all, oil statistics on the region typically talk of the “Middle East” and they export crude to much the same markets, mainly in Asia.
However, as delegates at the Middle East Petroleum and Gas Conference in Abu Dhabi recently heard, not all Gulf oil producers are created equal, and those with some of the biggest reserves may, in coming years, be outperformed by more reliable suppliers.
By Elizabeth Bassett | May 7, 2015 07:31 PM Comments (0)
Thursday at the Offshore Technology Conference is traditionally the “safety day,” with sessions and panels bringing together regulators as well as industry professionals to talk about the sometimes uneasy interaction between the two in the offshore oil and gas industry.
By Elizabeth Bassett | May 6, 2015 08:25 PM Comments (0)
Yesterday I gave a recap of some of the technology transfer ideas here at the 2015 Offshore Technology Conference. Today, in a continuation of that theme, I heard an awful lot of discussion of what really drives technology and gives it context: data.
Data was a recurring subject Wednesday at the conference, particularly in an afternoon session that featured the third big player in Houston’s industry landscape, aerospace. More specifically, NASA.
By Elizabeth Bassett | May 5, 2015 07:50 PM Comments (0)
The downturn in oil prices has led to a lot of chatter about how best to spend money in the oil and gas world, and M&A activity is frequently cited as a prudent use of funds.
Another use, which came up repeatedly at the 2015 Offshore Technology Conference, is investing in technology, and specifically technology that can be transferred between industries and among companies.
By Elizabeth Bassett | May 4, 2015 04:15 PM Comments (0)
Every hero needs a sidekick, every dog needs its day, and every oil and gas conference has to talk about bettering communication with the public, it seems.
The 2015 Offshore Technology Conference in Houston this week is no exception. Today is the first day of the conference, which regularly brings in about 90,000 attendees (or more) to hear from industry execs and elected officials and to learn about the companies, organizations and countries represented in booths and demonstrations.
By Gary Gentile | May 4, 2015 12:01 AM Comments (2)
The technology underlying the US shale revolution was largely developed and funded by government laboratories working in conjunction with the private sector. Could the same formula be the key to unlocking the oil and gas riches offshore Alaska?
By Ross McCracken | May 1, 2015 10:37 AM Comments (0)
In this month’s highlight of material from Platts Energy Economist, managing editor Ross McCracken delves into the best places to sink capital in a time of low oil prices and whether recent investments have truly trickled through the industry yet.
It is not hard to find proponents of the view that the current clampdown on capital expenditure by oil and gas companies will cause a shortage of oil in the future. Weak investment now causes low production in years to come. At the same time, low prices prompt greater demand. As soon as these two processes become entrenched, oil traders will look ahead to the impending shortage and prices will rise. Boom time returns.