Posts Tagged ‘crude oil’

PDVSA’s operational decline mirrors decline in employee benefits

The decline in employee benefits at Venezuela’s state owned PDVSA is the latest sign of the crisis being experienced by the country’s oil sector, which is under pressure from the drop in oil prices, declining output, industrial accidents, as well as by hyper- inflation suffered by the country.

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Bragging rights: So who is the world’s top oil producer?

Earlier this month, BP’s latest Statistical Review unintentionally reopened a debate into whether the US has regained the crown as the world’s top oil producer after decades of being out-gunned by Saudi Arabia and Russia.

Ostensibly a straight-forward measure of which country tops the leaderboard on oil output, BP’s widely-read yardstick has the US eclipsing both Saudi Arabia and Russia for the first time last year since 1975. Fueled by booming shale oil, BP said, US oil output hit 11.64 million b/d last year, a narrow but decisive margin over Saudi Arabia’s 11.51 million b/d.

The devil is in the detail, however, and BP’s numbers raise the long-standing and slippery issue of what actually counts as oil.

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Quantifying crude in Russia proves complicated: At the Wellhead

In this week’s Oilgram News column, At the Wellhead, Nadia Rodova digs beyond the scant information about Russian oil production and gives more clues about the true state of the industry there.

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Despite expectations, could the US put more crude into reserves?

The ongoing US oil boom has compelled some lawmakers and analysts to question the need to keep so much crude stockpiled and sparked speculation that a government sale of tens of millions of barrels could be imminent. But could new rationale for how much crude the US keeps in its Strategic Petroleum Reserve actually increase the amount of crude in the US stockpile?

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The evolution of a petroleum geologist after the Scopes Monkey Trial

If it hadn’t been for a famous trial 90 years ago next month, John Scopes might never have embarked on a 35-year career as a petroleum geologist.

But whatever Scopes’ track record was at finding oil and gas, history has kept mum — because his stamp on the world came not from hydrocarbons but as the defendant at the center of what became known as the “Scopes Monkey Trial” in Dayton, Tennessee that began July 10, 1925, and pitted the Bible against the theory of evolution and highlighted the science-versus-religion debate which flourishes to this day.

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When oil production appears to be going south in the North Sea: Petrodollars

The North Sea is one of the old guard for oil production, and companies are trying hard to revive its former glory. Nick Coleman digs into the basin’s future in this week’s Oilgram News column, Petrodollars.

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OPEC says, ‘What, me worry?’ to the prospects of US crude exports

For all the attention and debate the US’ crude export restrictions get in Washington, there was barely any peep on the issue last week in Vienna – neither at OPEC’s semi-annual meeting there, nor at a pre-meeting OPEC seminar, where ministers from its 12 member nations gathered with major oil company CEOs and non-OPEC country officials to discuss global market conditions.

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North American oil production flush with increasing efficiencies: New Frontier

The US and Canada aren’t slowing oil production, as many predicted when it appeared oil prices were settling into a lower pattern for an extended time period. Efficiencies, which fostered the growth of tight oil production, have continued to protect margins, as Benjamin Morse and Starr Spencer explain in this week’s Oilgram News column, New Frontier.

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The Oil Big Five: Waiting for June’s big oil news announcements

There are certain months that have obvious potential for big news, and June looks like one of them. November 2014 was another one, and this month’s iteration of The Oil Big Five follows up on many of the themes that were raised then.

We reached out to Platts oil editors and analysts worldwide to see what they were keeping an eye on in June, and these topics came back as immediate responses. We hope you’re tracking them as well, and be sure to leave us a comment and let us know your thoughts on the issues below or on Twitter, using the hashtag #oilbig5. If you’re not as concerned about these topics, then let us know what you are watching and what we should be watching as well.

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US oil exports seen as key to security: Regulation and Environment

There’s an economic argument to be made for lifting US crude oil export restrictions, and then there’s the argument that American oil could go a long way toward providing security to the US and its allies. Brian Scheid explains in this week’s Oilgram News column, Regulation and Environment.

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