Sunday, September 15, 2019

Tag: Chevron

Washington Tries to Break BRICS – Rape of Brazil Begins

Washington's regime change machinery has for the time being succeeded in removing an important link in the alliance of large emerging nations by railroading through a Senate impeachment of the duly elected President, Dilma Rousseff. On August 31 her Vice President Michel Temer was sworn in as President. In...

Democratic Pundits Downplay Serious Ethical Issues Raised by the Clinton Foundation

The Associated Press story this week revealing that as secretary of state, Hillary Clinton frequently met with donors to the Clinton Foundation, set off a firestorm in the media. Many Democrats and sympathetic pundits are criticizing the article — and have made the sweeping claim that, contrary to many deeply reported investigations,...

NYT Reveals Think Tank It’s Cited for Years to Be Corrupt Arms Booster

A recent New York Times article (8/7/16) detailed, in often scathing terms, what many media critics already knew: that think tanks are frequently not objective, neutral arbiters of information, but corporate- and government-funded agenda-promoters with an academic veneer to give the appearance of impartiality. One of the two think tanks...

Oil Giants Find There’s Nowhere to Hide From Doomsday Market

Exxon Mobil Corp. and Royal Dutch Shell Plc last week reported their lowest quarterly profits since 1999 and 2005, respectively. Chevron Corp.’s third straight loss marked the longest slump in 27 years, and BP Plc lodged its lowest refining margins in six years. Welcome to year two of a supply...

Chevron-led Consortium to Invest Up to $37 Billion in Kazakh Oil Field

ASTANA, Kazakhstan - Chevron Corp. and its partners agreed to invest up to another $37 billion to increase output at a Kazakhstan oil field that is among the world’s most expensive, the country’s energy minister said on Wednesday, a rare big spending commitment during a prolonged crude price slump. The...

BP, Shell among bidders to run Qatar oil field

DOHA - Six international oil firms including BP and Royal Dutch Shell Plc have bid to operate Qatar's largest offshore oil field, two people with knowledge of the matter told Reuters. The other bidders are the field's current operator Maersk, as well as Total SA, Chevron Corp and ConocoPhillips, said...

U.S.-Saudi Relations

The U.S.-Saudi Arabia alliance, which survived the oil embargo in 1973 and the attacks of September 11, 2001, in which fifteen of the nineteen passenger jet hijackers were Saudi citizens, is coming under new strains. A new generation of Saudi Arabian leaders is adjusting to what it sees as...

Chart of the Week: Oil Sector Job Losses Climb

March 25, 2016 Oil Sector Job Losses Climb For the first time since the Great Recession, U.S. oil and gas sector employment is falling consistently (although total private sector employment continues to rise). Among the hardest hit industries, 81,000 jobs were lost in the oil and gas support services sector between...

US Marines Enter Battle In Iraq To Help Army And Peshmerga Defend Oil Fields...

The Islamic State group is trying to retake control of the oil fields it lost two years ago in the semi-autonomous region of Iraqi Kurdistan by launching rockets at Kurdish and Iraqi soldiers. In an attempt to earn back the massive amount of cash it used to fund its...

Oman Gas Projects Could Undermine U.S. LNG Market Ambitions

Two separate projects in the sultanate of Oman are about to turn the tiny Gulf country into an important international liquefied natural gas (LNG) player that the U.S. will have to contend with in its ambition to become the leader of this market. The first one is an agreement with...

LNG Buyers Gaining Increasing Leverage over Sellers in Coming Years

The growing oversupply in LNG export capacity has weighed on prices for the key market in Asia, pushing spot prices down by about two-thirds in less than two years. Excess supplies will likely kill off an array of LNG export terminals that have not yet moved forward with final...

Shell, Saudi Aramco Plan to Break Up Motiva Partnership

Ownership of biggest refinery in the U.S. will shift to Saudi Arabia’s hands. Oil giants Royal Dutch Shell PLC and Saudi Arabian Oil Co. plan to end their long-standing fuel partnership, putting ownership of the biggest refinery in the U.S. in Saudi Arabia’s hands. Shell and Saudi Aramco formed their Motiva...

Stocks Worldwide Tumble as Credit Weakens Amid Signs of Distress

Signs of distress in financial markets accumulated amid deepening concern over the health of the global economy, with U.S. stocks sliding to a 22-month low as the cost of protecting against default by junk-rated companies soared to the highest level since 2012. Mining and banking stocks drove the Standard &...

The IPO to End All IPOs?

Oil is at its lowest price in a decade. So why is Saudi Arabia selling off part of its trillion-dollar oil company? $10 trillion. That’s the top-end estimate for how much Saudi Aramco, the world’s biggest oil company, could be worth when shares in the energy giant finally go on...

Too Big to Value: Why Saudi Aramco Is in a League of Its Own

By any measure, Saudi Arabian Oil Co. is in a league of its own. Take its oil reserves -- roughly 260 billion barrels, nearly 10 times those of the global ultra-major Exxon Mobil Corp. Or its daily production -- 10 million barrels, more than the domestic output of every U.S....

All Is Bearish in the Oil Markets to Start 2016

Oil prices have plummeted in the first week of 2016, and it’s hard to identify anything likely to turn the market around in the near future. In the first trading week of 2016, Atlantic basin benchmarks fell to the low $30s, while the OPEC basket price plunged below $30...

$590 Billion…Gone in a Day

Oil just hit a fresh 11-year low. The price of oil dropped 6% today. It’s now down 68% since peaking in June 2014. Oil hasn’t been this cheap since February 2004. Dispatch readers know the world has too much oil right now. “Fracking” and other new technologies have unlocked tens of...

The Oil Tanks

The oil industry ties behind think tanks' push to repeal the crude oil export ban. Over the past two years, nine of the most frequently cited US think tanks have released reports endorsing crude oil exports, sent experts to advocate exports in Congressional testimony, and published op-ed columns supporting a repeal of the ban on exporting crude oil.

Western firms primed to cash in on Syria’s oil and gas frontier

US, British, French, Israeli and other energy interests could be prime beneficiaries of military operations in Iraq and Syria designed to rollback the power of the ‘Islamic State’ (ISIS) and, potentially, the Bashar al-Assad regime. A study for a global oil services company backed by the French government and linked...

Shock, Denial, and Panic in the Oil Sector

“After the initial shock, denial, panic and capitulation, oil producers, service providers, and energy investors must view the future differently based on the lower-for-longer oil price scenario, or risk their own.” Investment firm Oppenheimer (OPY) said this in a recent note. The folks there must agree with us...there’s more pain...

China becomes world’s top crude buyer despite economy stuttering

China imported 7.4 mln bpd in April, U.S. about 7.2 mln bpd Commercial, strategic stockpiling keeps China's demand high China is already world's biggest energy, raw material importer SINGAPORE, May 11 (Reuters) - China overtook the United States as the world's top importer of crude oil for the first time in April,...

Falling prices, rising threats cool interest in Kurdish oil

IRBIL, Iraq (AP) — The hall for the Irbil Oil and Gas Exhibition this week was crowded with company displays, executives and investors. But conspicuously absent were international oil giants like Shell, Exxon-Mobil and Chevron that only a year ago were eager to exploit the promising reserves of Iraq's...

Thailand, International Oil, and the Future of Energy

The Southeast Asian nation of Thailand is currently wrestling with a particularly contentious issue involving international oil concessions. In essence, foreign oil monopolies, particularly Western corporations including Exxon, Chevron, and British Petroleum (BP) have been given access to Thailand’s oil and natural gas supplies, to explore, develop, and exploit...

OPEC sees oil prices exploding to $200 a barrel

Right now the oil market is totally focused on finding a bottom for oil prices. However, according to OPEC's Secretary-General Abdulla al-Badri we've already hit bottom. Not only that, but he sees a real possibility that oil prices could explode higher to upwards of $200 per barrel in the...

Low oil prices threaten Norway’s Arctic, UK’s mature fields

OSLO, Big oil and gas finds in waters along Europe's northern edge may remain undeveloped now that oil prices have dropped, keeping potential supply of over a billion barrels of oil equivalent out of the market for the foreseeable future. Discoveries in Arctic Norway could stay dormant, while mature British...

How The West Created ISIS

OUR TERRORISTS “This is an organisation that has an apocalyptic, end-of-days strategic vision which will eventually have to be defeated,” Gen Martin Dempsey, chairman of the US Joint Chiefs of Staff, told a Pentagon press conference in August. Military action is necessary to halt the spread of the ISIS/IS “cancer,” said...

Will the TAPI Pipeline Ever Be Built?

While all mega-energy projects contain an element of risk, the $7.6 billion, 1,040 mile-long Trans-Afghan-Pakistan-India (TAPI) pipeline, designed to bring the riches of Turkmenistan’s vast natural gas fields to the booming Pakistani and Indian energy markets stands at the top of the list, as two transit countries, Afghanistan and...

China’s Oil Future

Robust industrial growth and increasing domestic living standards have left China with a nearly insatiable thirst for energy. And oil is playing an integral part in meeting that demand. Although coal remains the chief source of energy, oil fuels China’s transportation, plays a crucial role in industry, and is a...

The political economy of Russian oil and gas

One of the two largest oil producers in the world, Russia accounts for 12 percent of global output. Last year it again surpassed Saudi Arabia by pumping almost 10.4 million barrels per day (BPD). It is also one of the world’s largest exporters of oil, with nearly 5 million...

Nigeria losing ground in changing oil world

Nigeria will earn less for its oil and struggle to replace reserves unless it can end years of industry stagnation, at a time its biggest customer is becoming self-sufficient and African rivals are boosting supplies. A domestic energy boom in the United States has already sharply cut demand for Nigerian...

Article Filter Options