Tag Archives: ExxonMobil
EU “Sounds Alarm” Over New US Sanctions On Russia; Germany Threatens Retaliation
Late on Friday, Congressional negotiators reached a deal to advance a bill that would punish Russia for its interference in the 2016 election and restrict the president’s power to remove sanctions on Moscow, according to the WSJ. The measure, if signed into law, will also give Congress veto powers to block any easing of Russian sanctions by the president. And while it remained unclear if President Donald Trump would sign the bill if it reaches his desk, which is now likely, the loudest complaint about the bill to date has emerged noe from the Oval Office, but from Brussels, after the EU once again urged (and warned, and threatened) US lawmakers to coordinate their anti-Russia actions with European partners, or else. Continue reading
Dems paid bomb maker to investigate President Trump
According to the Daily Caller a former DNC Official partnered with a convicted bomb maker to investigate President Trump
(WASHINGTON, DC) A former official with the Democratic National Committee has worked in recent months with a convicted domestic terrorist-turned-activist known as the “Speedway Bomber” to gather information on Donald Trump, The Daily Caller has learned.
That work culminated in a Washington, D.C. meeting in December between the ex-DNC operative, Alexandra Chalupa, the convicted bomber, Brett Kimberlin, and a South Africa-born Israeli man named Yoni Ariel. Continue reading
U.S. Shale Production Growing At An Unprecedented Pace
The oil markets have long expected that U.S. shale production would rebound once oil prices started to rise. But the comeback of shale could be much faster and stronger than many once anticipated.
There are a few reasons for this. First, the industry is leaner than it once was, with some of the least efficient companies forced out of the market and the consolidated sector is now moving quickly with oil prices stabilized in the $50s per barrel range. Second, oil drillers have a lot more experience in shale than they did years ago. Improved drilling techniques, which include longer laterals, more wells per wellpad and stronger fracking processes are yielding more oil per rig and per well. Third, instead of drilling everywhere, companies are focusing on the best spots this time around. Finally, it isn’t just the small companies drilling in U.S. shale – the oil majors are increasingly getting into the shale game. Continue reading
Reversal of Trend in Business with Russia
Russia’s Arctic Dreams Have Chinese Characteristics
The most significant geophysical event on our planet since the end of the ice age is taking place today—the opening of the Arctic. As the High North maritime environment warms, the Arctic Ocean’s abundant energy, minerals, fish stocks, and other natural resources are becoming increasingly accessible, while new potential maritime routes promise to reduce shipping times and costs and accelerate ties between major commercial centers. These new opportunities for energy development, natural resources extraction, and shipping suggest that the region risks becoming an arena of intense competition, tension, and potentially even confrontation, not only between the United States and its two near-peer strategic competitors—China and Russia—but also among other Asia-Pacific states with observer status in the Arctic Council. Continue reading
Arctic Oil On Life Support
Keep in mind that this will mostly be a problem for the West and not Russia, who insisted it will forge ahead with developing Arctic oil and gas despite sinking prices and sanctions.
Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored.
No Shale Revolution For Europe
It’s looking increasingly unlikely that Europe will be able to sever its reliance on Russian energy supplies by developing its own shale gas industry.
For years, Poland has been regarded as the European Union’s biggest hope for developing indigenous sources of natural gas because it sits on large reserves of natural gas trapped in shale. According to the U.S. Energy Information Administration, Poland has 148 tcf (trillion cubic feet of technically recoverable shale gas reserves and 1.8 billion barrels of shale oil. By comparison, Russia has an estimated 285 tcf of shale gas.
Poland represents the European Union’s best hope at breaking Russia’s grip over natural gas supplies, and its government has been highly supportive of shale gas development, which is rare in the green-tinged political circles of Europe.
But things have not gone according to plan. Dozens of wells have been drilled since 2010, but almost none have been successful. In fact, Bloomberg reports, the most productive shale projects have returned gas flows that were just 30 percent of what is needed to be commercially viable. Continue reading
North America to Drown in Oil as Mexico Ends Monopoly
The flood of North American crude oil is set to become a deluge as Mexico dismantles a 75-year-old barrier to foreign investment in its oilfields.
Plagued by almost a decade of slumping output that has degraded Mexico’s take from a $100-a-barrel oil market, President Enrique Pena Nieto is seeking an end to the state monopoly over one of the biggest crude resources in the Western Hemisphere. The doubling in Mexican oil output that Citigroup Inc. said may result from inviting international explorers to drill would be equivalent to adding another Nigeria to world supply, or about 2.5 million barrels a day. Continue reading