Kashagan Ramps-Up, Oil Market Beware

Up until last fall, the giant Kashagan field in the Caspian Sea was “Exhibit A” of frustration and ostensibly superfluous investment ($50 billion to be precise) in the global oil scene. But after repeated setbacks, it finally commenced…

Will The 2017 Oil Market Series Win An Emmy?

Last fall, we proposed the analogy of a television series to describe the global oil market. We noted that a series does not win an Emmy based only on the quality of one episode, but that of the series as a whole. Looking at the oil sector, until…

Here’s How The US Govt Sees O&G Until 2050

The EIA recently released its Annual Energy Outlook 2017 (AE02017), in which it projects a rise of US production and exports through 2050 per most of its eight scenarios. In this post, we will examine the overarching takeaways from the…

Here’s Why API Chief Sees A Bright Future For US O&G

The outlook for US O&G is bright, Jack Gerard, president of the American Petroleum Institute, said during his “State of American Energy” speech in Washington, DC. Three key factors underlie his positive read of the American energy…

A Deep-Dive Into Europe’s Biggest Oil Producer

The US Energy Information Administration (EIA) provided its country analysis brief of Norway on December 28, revealing an oil and gas sector that is struggling under the weight of low oil prices. As Europe’s largest oil producer…

Libya Emerges As OPEC Supply Risk

Libya is emerging as a key risk to the successful implementation to OPEC’s supply cut deal, as it ramps up production from its largest oil field after two years of civil unrest. The Sharara field, located in southwest Libya, will export nearly 1.9…

Will OPEC Carry Out Its New Year’s Resolution?

New Year’s Day 2017 could in hindsight turn out to be pivotal for the global oil market. On that day, OPEC’s 13 members were to begin complying with the November 30 agreement to curb oil production in the interest of supporting oil prices…

Who Is John Galt For O&G?

I recently completed my annual reading of Ayn Rand’s masterpiece, Atlas Shrugged. As we will soon turn the page on the new year, I believe it is timely to relate some of the themes of this book with where O&G stands right now. I’ll start with…

5 Things That Could Happen In Oil & Gas In 2017

1. OPEC Ignores Production Quota – On November 30, 2016, OPEC decided to reinstate its group oil production quota. Starting January 1, according to the deal, the group’s 13 members would limit production to 32.5 M/bpd- representing a…

The 5 Most Unexpected Things In O&G In 2016

2016 has been a volatile year for the global oil and gas sector. While the “oil market series” has continued to be marked by the “lower for longer” oil price reality, individual “episodes” throughout the year have propped up prices- and some of…

Here’s What OPEC Sees For 2017

OPEC said in its first monthly report since its November 30 meeting that higher-than-expected demand for its oil, joined with recent agreements to reduce production, should yield a rebalancing of the oil market in the second half of 2017…