“It is a buyer’s market.” This phrase is omnipresent on most oil trader’s lips these days as crude oil prices continue to slide. None typifies this better than the current state of the Nigerian crude oil market. Overhang, glut, oversupply, unsold barrels, are some of the words most associated with Nigerian crude.
Posts Tagged ‘Iraq’
By Eklavya Gupte | December 14, 2015 10:27 AM Comments (3)
By Elizabeth Bassett | October 16, 2015 12:01 AM Comments (0)
There are certain times of the year that seem to rush by and October is one of those, as evidenced by this installment of The Oil Big Five coming out a bit later than usual. In some ways, this is an indicator of how much there is to do and keep track of, including for the global oil industry.
By Nick Coleman | August 25, 2015 12:01 AM Comments (6)
Oil-rich Azerbaijan is being rattled by disruption and attacks on pipelines, highlighting its tough geopolitical position and adding to worries about falling oil prices.
Having been courted by previous US governments, international interest in Azerbaijan and fellow Caspian producer Kazakhstan has waned in recent years, not least because of the increase in US shale oil production. Azerbaijan’s oil production is, in any case, thought to have peaked.
But with 848,000 b/d of output last year, Azeri production still matters.
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 | April 9, 2015 03:34 PM Comments (6)
There are a couple months of the year that seem busier than others, and April is one in the oil industry. The first quarter has ended, and many of the editors here at Platts are readying themselves for the slew of earnings calls and reports that will be coming soon. Those quarterly updates can sometimes signal big changes – announcements about new projects, financial doings, production figures, etc. – and we wanted to assess the global oil industry now, in the calm before the storm.
By Tamsin Carlisle | November 3, 2014 12:01 AM Comments (3)
By Herman Wang | September 30, 2014 04:47 AM Comments (0)
For two months now, the United Kalavrvta tanker holding 1 million barrels of Kurdish crude has idled in international waters off the coast of Galveston, Texas, awaiting a District Court ruling on whether the oil will be allowed to be sold in the US.
But if the Kurdistan Regional Government is hoping that the Obama administration will soften its stance in opposition to Kurdish oil exports, that doesn’t appear likely, even as the US seeks to aid the Kurdish peshmerga in their fight against the Islamic jihadist group IS.
By Elizabeth Bassett | September 9, 2014 05:14 PM Comments (0)
This month in The Oil Big Five, we mulled over the fact that the more things change, the more they stay the same. What hasn’t changed for us on The Barrel is we want to feature comments from our readers around the globe, including your thoughts about what’s most important to you about the oil industry. Here are some of the comments we received from our latest entry, and a huge thanks to those who commented, as well as everyone who read the post.
By Tamsin Carlisle | September 9, 2014 12:01 AM Comments (0)
In the past two weeks, two Middle East states have experienced significant popular unrest sparked by government moves to cut fuel subsidies.
The circumstances were individual but the similar responses underscore common difficulties faced by all governments in the region that seek to phase out what many of their citizens regard as a birthright.
By Elizabeth Bassett | September 2, 2014 05:52 PM Comments (1)
When we began the Oil Big Five posts, we had an idea of featuring brand-new items every single month. But that whole saying about people forgetting history being doomed to repeat it?
It came to mind this month when we were soliciting suggestions from our Platts oil editors and analysts for this month’s listing. Big issues don’t go away quickly, and in an industry as large and complicated as global oil, it’s doubly true.
That said, we do have several new issues on the list this month, as well as some follow-ups to previous topics. Be sure to comment here, on Facebook or on Twitter (use the hashtag #oilbig5), and we look forward to featuring your comments. Tell us what you’re thinking about, and here’s what we’re most focused on at the moment: