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Tuesday, July 7, 2020

Oil Is Unlikely To Return To $80

Economists have given us a model of how prices and quantities of goods are supposed to interact. (Click to enlarge) Figure 1. From Wikipedia: The price P of a product is determined by a balance between production at each price (supply S) and the desires of...

Royal Dutch Shell A : Shell Oil Spills Led to ‘Astonishingly High’ Pollution in Nigeria

Royal Dutch Shell PLC oil spills that haven't been cleaned up for over eight years have contributed to "astonishingly high" levels of pollution in a Nigerian community, according to a consultant who helped produce a confidential damage assessment for Shell and its partners in...

What’s OPEC planning for 2019?

By Julianne Geiger OPEC has come through some turbulent times in the last few years as oil prices fell to decade lows. It has implemented production cuts, has rallied Russia to climb onboard the production cut train, has weathered the rise of US shale to...

IMF’s Lagarde says oil exporters not fully recovered from 2014 shock, warns of ‘white elephant projects’

"With revenues down, fiscal deficits are only slowly declining, despite significant reforms on both the spending and revenue sides, including the introduction of VAT and excise taxes," Christine Lagarde, the managing director of the IMF, told a conference in Dubai. She said this has led...

Nigeria’s domestic oil producers face battle for future survival

The future for Nigeria’s nascent indigenous upstream oil and gas industry looked bright, almost dazzlingly so. International oil companies (IOCs) were pulling out, selling fields that still held abundant reserves. Nigeria’s banks were flush with cash and keen to lend to scores of start-ups with...

Platts: Oil stock overhang could disappear by 3Q 2017

With 2016 behind us, energy intelligence groups have begun dishing out their takes on the energy sector for 2017. One of them, S&P Global Platts, an independent provider of information and benchmark prices for the commodities and energy markets, has shared its view on what...

Tension eases in Nigeria’s oil region after shift in government policy

by: Maggie Fick in Okerenkoko After more than a year on the run, former militant turned millionaire businessman TomPolo is in talks with government officials about a possible amnesty, his brother says, as part of a new strategy that local leaders say is contributing to...

Crude oil prices to decline to $68 a barrel in 2019

The United States’ Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $71 per barrel in 2018 and $68 a barrel in 2019. Meanwhile, Nigeria’s Bonny Light crude oil has maintain an international price of $73.44 per barrel, higher than the...

Top 5 issues to affect oil/gas in 2017 – Wood Mackenzie

Analysts at Wood Mackenzie in their 2017 forecasts for the oil and gas say the industry will turn cash flow positive for the first time since the downturn, if OPEC production cuts drive oil prices above US$55 per barrel. Tom Ellacott, senior vice president of...

Will oil ever hit $100 again?

by Andreas Exarheas Oil will hit $100 per barrel again, according to RoseAnne Franco, head of oil and gas at global risk consultancy Verisk Maplecroft. “It’s a question of when and will it stay there … the level of geopolitical uncertainty we confront today is...
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