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Saudi Aramco, Shell to Break Up 18-Year U.S. Refining Marriage

Royal Dutch Shell Plc and Saudi Arabian Oil Co. are ending an 18-year refining partnership as the Anglo-Dutch titan prepares to sell billions of dollars of assets and the Middle East nation’s state oil company weighs an initial public offering. Shell will assume control of two Louisiana refineries operated by the Motiva Enterprises LLC joint venture, as […]

Why Do Banks Invest in Big Oil?

For profits, obviously. Divesting from fossil fuel would lose business and lower profits, so the thinking goes. But is this true? A study finds ethical banks are just as profitable as major banks. If a mainstream bank adopts sustainable banking principles can they realistically expect to maintain profits? I look into the study’s methodology and see […]

Big Oil Faces Courtroom Showdown

ExxonMobil is being investigated by the Attorney’s General of New York and California with a view to criminal charges for securities fraud and racketeering over their stance on climate change. The ramifications are enormous for the course of the global energy transition. The oil and gas giant stands accused of lying to its shareholders for […]

World will need big oil

There are those who will tell you that this is a bad time to be running a big oil company. John Watson, chief executive of Chevron, is not among them. “Arguably, we’ve never been more advantaged than right now,” he says. Of course, he acknowledges, times are tough for everyone in the oil industry because […]

Total, Eni Bet On New Finds As Rivals Cut Costs In Oil Downturn

As oil firms slash billions of dollars of investment to survive the market crash, France’s Total and Italy’s Eni are making some of the smallest cuts, gambling in the hope of big-ticket discoveries that will reward them when prices recover. Both approaches carry risks. Intensive exploration programmes mean higher costs and lower profits in the […]

Big Oil Eyes Upcoming Auction In Iran

Iran, a country boasting the fourth largest oil and the second largest gas reserves in the world, has become one of the most prominent topics in the news – for example, today’s election news affirming the shifting of political power to the moderate and reform candidates. From the oil and gas industry point of view, […]

BP CEO Gets 20% Rise in Total Pay

BP PLC’s chief executive Bob Dudley received a 20% bump in his total compensation package last year, bringing it to $19.6 million despite an ongoing slump in oil prices that has battered the energy giant’s earnings. Mr. Dudley got a boost in 2015 from a $1.4 million cash bonus—up from about $1 million in 2014—and […]

Oil exec Aubrey McClendon dies in car crash a day after indictment

A day after his indictment on bid-rigging charges, Aubrey McClendon, the former chief executive of Chesapeake Energy Corp., died Wednesday morning in a car crash in Oklahoma. An Oklahoma City police spokesman said the 56-year-old, also a part-owner of the NBA’s Oklahoma City Thunder, was speeding and “drove straight into the wall” when he was […]

World’s top oil producers forced to load up on debt

The 70 percent decline in oil prices since mid-2014 has severely dented the finances of major oil producing nations around the world, forcing even the wealthiest producers to move into unplanned borrowing and debt issuance, a new report shows. The harsh drop in the price of oil, which slumped way beyond most analyst predictions has […]

Don’t Be Fooled, The U.S. Dollar Index Will Be A Lot Stronger A Year From Now

As many traders and investors know, the U.S. Dollar Index (DX) broke out in September 2014. At that time, the U.S. Dollar Index was trading around the $83.00 level. Today, the U.S. Dollar Index is trading around $96.90 per contract. Just so that new readers understand the U.S. Dollar Index is a measure of the […]

What’s Wrong With Bernanke’s ‘Relationship Between Stocks And Oil Prices’

Stock prices and oil prices have been moving in lock-step. Ben Bernanke published an article Friday explaining why. He says that lower economic activity is driving stocks and oil prices lower. His demand equation is flawed and his correlations are spurious. Supply drove oil prices lower and oil demand is expected to rise in 2016. […]

Oil driller cut 25000 jobs, paid CEO $18 million

2015 was a tough year for oil driller Schlumberger. Unless you were the CEO. CEO Paal Kibsgaard received total compensation worth $18.3 million in 2015, the company reported, down only slightly from $18.5 million the year before. The rest of Schlumberger didn’t fare so well. The company cut 25,000 jobs during the year, or 20% […]

Oil Industry Faces an Existential Crisis

The Saudis may go public, OPEC’s in disarray, the U.S. is suddenly a global exporter, and shale drillers are seeking lifelines from investors as banks abandon them. Welcome to oil’s new world order, full of stresses, strains and fractures. For leaders gathering in Houston next week at the IHS CERAWeek conference — often dubbed the […]

The Decline Of The Coal Industry Is “Long-Term” And “Irreversible”

Demand for thermal coal is declining, a trend that appears to be “irreversible.” That is the conclusion from Goldman Sachs, which published a new report on the global coal and gas trade on February 15, and reported on by SNL. For coal producers, this is the latest in a long line of grim warnings, all […]

The World Is Not Ending (Yet)

Market is exaggerating risk of US recession. Japan’s economy may have contracted in Q4. EU Summit is important even if not conclusive on Brexit and refugees. Investors have become unhinged.The increased volatility and dramatic market moves challenge even the most robust investment strategies. This sets off a chain reaction of money and risk management that […]

The Return Of Crisis

Financial markets the world over are increasingly chaotic; either retreating or plunging. Our view remains that there’s a gigantic market crash in the coming future — one that has possibly started now. Our reason for expecting a market crash is simple: Bubbles always burst. Bubbles arise when asset prices inflate above what underlying incomes can […]

We assume $40 crude out to 2020

Cullen/Frost Bankers Chairman and CEO Dick Evans said Monday his stress test model looks for a $28 per barrel bottom for oil, and a historically low level of $40 per barrel out to 2020. Energy loans make up for over 15 percent of Cullen/Frost’s total loan portfolio, and 9.8 percent of them are now considered […]

The world economy is shaky and ‘funny money’ won’t fix it

So that was “jarring January”. Since the start of the year, over £4 trillion has been wiped off the value of global equities – that’s four, followed by 12 zeroes. US stocks endured a steeper first-week decline in 2016 than in any year since before the First World War. Market volatility drove the MSCI World Index […]

BP Profit Falls 91%

Adjusted profit drops year-on-year for six straight quarters Company’s net loss in 2015 is highest in at least 30 years BP Plc reported a 91 percent decline in fourth-quarter earnings after average crude oil prices dropped to the lowest in more than a decade. The company’s shares fell the most since August. Profit adjusted for […]

The Oil Crisis And How It Could Overshoot

The day we hit “peak oil” will be a definitive moment in the history of resources and energy consumption. Throughout our lifetime we have been warned of the implications of oil production hitting an absolute maximum; the consequence of which will be the terminal decline of global supply. M. King Hubbert, the author of the Peak Oil […]

Why Oil Prices Won’t Recover Anytime Soon

Peter Esho, Invast Securities chief market analyst, discusses the Fed’s decision to leave its benchmark rate unchanged and the outlook for oil prices. He speaks with Bloomberg’s Rishaad Salamat on “Trending Business.”

Oil skyrockets 23% in 48 hours, tops $32

It’s been an absolutely insane few days for crude oil, the most closely-watched commodity on the planet. Oil prices spiked 9% — the biggest daily jump since August — to close at $32.19 a barrel on Friday. It represents a dramatic rebound from Wednesday. Crude crashed to $26.19 a barrel Wednesday, the lowest level since […]

Davos Participants Seek Out ‘Stardust’ Moments

At the World Economic Forum here, heads of state, billionaire investors and corporate chiefs meet to discuss the state of politics and regulation, and tackle the biggest challenges facing societies globally. This year, they are sending warning signals about the state of the markets. But ask some of the men and women at Davos whether the forum […]

What news is good news for oil in 2016?

Welcome to the first version of The Oil Big Five for 2016, when we round up some of the biggest news and trends from the global oil industry and think to ourselves: Wow, things sure have changed since our first post. But then, that’s oil for you: Things are always changing, and yet some things […]

Why the Oil Industry Should Kill Itself

Now that oil prices have settled into a long-term range of $30-50 per barrel (as described here a year ago), energy users everywhere are enjoying an annual income boost worth more than $2 trillion. The net result will almost certainly accelerate global growth, because the beneficiaries of this enormous income redistribution are mostly lower- and […]

Recession in Chinese Economy & Its Effect

China economy is the 2nd largest economy in the world; yes the discussion is about the world economy, not local Chinese economy, not Asian economy, but the global economy. When you talk about the global economy you have big players, take a look at the top ten players across the world. educba.com

Chevron Dodging tax-we agree

Chevron Fined Millions for Tax Scheme Posted by Ashleigh Telford on October 23, 2015 Chevron has lost a landmark appeal in the Federal Court today and will have to pay over $250 million in back taxes and an estimated $60 million in fines. Paddy Crumlin, ITF President welcomed today’s decision and said Chevron needed to […]

The U.S. Is At The Center Of The Global Economic Meltdown

While the economic implosion progresses this year, there will be considerable misdirection and disinformation as to the true nature of what is taking place. As I have outlined in the past, the masses were so ill informed by the mainstream media during the Great Depression that most people had no idea they were actually in […]

Oil’s Financial Depletion

In a boom-and-bust business like oil, a company must be nimble to survive. Companies that grew quickly thanks to the shale boom are trying to weather the dramatic slide in oil prices with measures like scaling back production and laying off workers. But for many, sunk costs and high debt levels mean cutbacks are not […]

China, Oil Show Peril of Faulty Assumptions

National home prices never go down. Eurozone countries don’t default. Saudi Arabia won’t let the price of oil crash. China’s demand for raw materials is infinite. These are some of the most cherished assumptions of investors and policy makers in the past decade, assumptions that have underpinned trillions of dollars of investment and debt. The U.S. housing […]

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