World Oil's Daily Brief: Recent Episodes
Cameron Wallace, Digital Editor at World Oil
In this episode, World Oil editors discuss The North Face doubling down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage.
Joe Biden's cabinet picks, and his interest in working with China to stage elections in Venezuela, will make 2021 a transformative year for fossil fuels. Wall street is already looking at ex-U.S. energy producers take up the mantle of growth from domestic shale plays, and an increasing drilling rig count suggests operators are trying to get ahead of potential new rules.
With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bet. In this episode, World Oil editors take a look at how ambitious renewable energy programs will depend on oil and gas technology to come to fruition, review the money moves Saudi Arabia, the UAE and Oman are making to fill the void they see Western producers leaving in the global oil market, regulatory shenanigans in Texas, and a still-climbing rig count that looks to exceed even the most optimistic recent projections.
It's a tale of two cities with the EU's largest oil producer swearing off production by 2050, as OPEC+ stalwarts Saudi Arabia and the UAE grapple over who will lead the group's drive to meet the world's future oil demand. World Oil editors discuss Denmark's grand plan to lead other oil-producing nations into OPEC's pocket, and how a climbing rig count in the U.S. and Canada is already impacting 2021 crude production models.
When OPEC+ meets this week in Vienna to decide how and when to increase oil output, impatient member states, surging Libyan production, and Chinese demand splitting off from the West will create headaches for ministers. Also, World Oil editors discuss how Arctic drilling plans in the U.S. and Norway are being motivated less by economics and more by geopolitical maneuvering, and the North American drilling rig count shows strength that exceeds even the most optimistic predictions from earlier in the year.
In Alaska, Michigan and Norway, partisans on the left and right are sparring in the courtrooms to implement their vision for the future of energy. Operations from small shale plays to multi-billion-dollar offshore installations suddenly hang in the balance as the regulatory outlook becomes increasingly cloudy. World Oil editors discuss a few of these latest moves, and how oil companies are reacting, including:
- Trump tries to establish a foothold for drilling in the ANWR, just as Norway's Supreme Court prepares to decide on its Arctic drilling future;
- Michigan revokes a long-standing pipeline easement, with direct impact on Canada's refining capacity;
- The U.S. and Canadian drilling rig count continues its climb, and what this says about confidence in a Biden administration
Despite increased drilling activity and strong Q3 results across the board for the supermajors, Exxon Mobil spent the week slashing headcount and planning major asset sales to meet its dividend commitments. In this week's podcast, World Oil editors take a look at where drilling activity is picking up, and what that means for the timeline of a turnaround. Kurt and Cameron also summarize a tough week all around for Exxon Mobil, and some exciting exploration developments off Canada's eastern seaboard.
While opinions differ on oil demand and production rates, a fourth week of growth in the rig count appears to prove some projections right, while invalidating others. World Oil editors discuss how the rig count reflects the magazine's recent Mid-Year Drilling Forecast outlook, and what more drilling means for some other industry leaders' ideas on the future of oil and gas production.
The past few weeks have seen extensive merger and acquisition activity in oil and gas, from new operators consolidating legacy field holdings to new, up-and-coming oilfield services providers. In today's podcast, World Oil editors review how these companies are positioning to drive a step change in how fossil fuels are explored and produced.
This week, World Oil editors discuss a seeming disconnect as drilling activity across the board continues to rise, while oil traders are expecting a long road to demand recovery. Also, Venezuela and Iran flout U.S. trade sanctions with more crude and refined product shipments; and Libya's post-civil-war oil export recovery looks set to create challenges for the continuing OPEC+ production agreement.
While Canada's leaders promise measures to protect oilfield livelihoods, shale drillers in the U.S. are working to minimize the effects of a potential Biden victory. In this week's podcast, World Oil editors discuss the scope and viability of a plan in Newfoundland and Labrador to ensure a future for the offshore oil and gas sector, as well as the lengths shale drillers are taking to ensure their own livelihoods should Joe Biden win the Presidential election in November.
BP has boldly claimed that global oil demand will peak in the next ten years in its 2020 Energy Outlook. In this week's episode, World Oil editors discuss that prediction, BP's track record on such models in the past, and take a look at some emerging trends in the upcoming World Oil 2020 Drilling Forecast reveal how future production capacity may make that happen.
In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy.
Between Halliburton and Liberty Oilfield Services, hydraulic fracturing's two major players have fundamentally different field capabilities and technology ambitions. World Oil editors Kurt Abraham and Cameron Wallace discuss how the differing strategies these two companies offer will change how operators large and small will approach future shale project developments. Also discussed, Canadian disappointment at a lack of leadership from the Prime Minister on preserving offshore oil and gas jobs, and Mexico goes back to the drawing board with its 2021 energy productions plans.
World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace discuss how recent land drilling activity, and the oil price's resilience to external factors suggest that pieces may be coming into place to support the start of a U.S. shale recovery.
As forecasts show no near-term end in sight for depressed oil demand, operators are making dramatic adjustment to meet the new oil and gas industry reality. World Oil's Kurt Abraham and Cameron Wallace discuss how another record low rig count, projections for continued demand weakness across the board, and dramatic CAPEX budget cuts demonstrate a challenging new reality for operators and service companies.
From bankruptcies and asset fire sales to job losses and record declines in crude production, drilling activity levels not seen since 1940 are affecting every corner of the oil and gas industry. In today's podcast, Kurt and Cameron explore this new low-output reality, how companies large and small are maneuvering to survive, and the potential effects of emerging political and grasroots action.
A disconnect between drilling activity and supermajors' earnings may reveal a shift in industry leadership, as evidence that the oil and gas industry is reaching a bottom emerges.
As major service companies present their Q2 earnings results, they are offering what is perhaps the industry's leas-politically-biased assessments of future oil and gas demand - and it contradicts where OPEC+ and the IEA want to lead the market in the coming quarters.
In Canada, the industry's hardest-working trade association puts Ottawa's Seamus O'Regan on the spot, seeking tax incentives modeled after Norway's system. Based on Equinor's Q2 results, it's a model well worth following.
In a 180-degree shift from just a few months ago, Texas Railroad Commission Chairman Wayne Christian wants to take a stand against Saudi and Russian dumping of oil on U.S. markets, with what is a textbook argument for tariffs.
Using the differing fates of BJ Services and Halliburton as an example, in today's podcast Kurt and Cameron discuss how the last major downturn of the early 1990's taught service companies some harsh lessons, and their survival may hinge on how those lessons are applied in today's Covid-19 fueled downturn.
Buffett sees a longer future for natural gas in the U.S., encouraging signs of a recovery in drilling continue to emerge, and the UK seeks to put an expiration date on internal-combustion vehicles.
A billion here, a billion there, and soon enough you're talking about real money... Kurt and Cameron explore Joe Biden's multi-trillion-dollar climate change plan, what it means for the energy industry, and how it compares to his previous large-scale infrastructure programs. (Spoiler: there's a reason you won't hear him say "shovel-ready jobs" on the campaign trail this year.) Meanwhile, OPEC expects global oil demand in 2021 to eclipse its pre-pandemic high in 2019 - are major oil and gas producing nations in a position to fill that demand?
In today's episode, World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace review new drilling rig count numbers that look like they need to get a little worse before they get better; take a look at now Canada's offshore Newfoundland & Labrador trade association, Noia, is offering a textbook example of how to push for government support; review the latest OPEC+ compliance work, and what could add new risk to oil prices; and discuss how the Marcellus shale recovery could meet the same fate as the Bakken, thanks once again to issues with pipelines.
World Oil Editor-in-Chief Kurt Abarham and Digital Editor Cameron Wallace discuss the near- and longer-term effects of the Dakota Access pipeline shutdown on U.S. shale, legal precedents being set and who stands to benefit. Also, Pemex appears to be tightening its grip around the neck of the golden goose that is Mexico's oil and gas industry.
As the working rig count reaches historic lows, World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace take a look at what it means for future production and inevitable consolidations to follow. Can technical innovation lead the industry out of the wilderness?
From OPEC stalwarts down to individual producing companies, oil price and demand projections are dividing into two separate camps. World Oil's editors review some of these key differences, and what they mean for crude production plans.
World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace review the Dallas Fed's recent oil production survey, and discover a "split personality" between production estimate and pricing models that could lead to an oil supply shock in 2021. Service companies' role in record-breaking U.S. oil production rates, as well as Russia's motivations for actually complying with the OPEC+ agreement, are also covered.
A key element of Australia's LNG ambitions is up for grabs, OPEC+ compliance drives buyers to U.S. crude, Deloitte projects a challenging earnings season for shale, and New Mexico's state budget feels the sting of low oil prices.
Kurt and Cameron explore PESA's research into oil and gas job losses and their impact on the economy, what new rig count numbers mean for oilfield service companies, and the potential for Continental Resources to lead another U.S. shale production trend.
Kurt and Cameron explore the potential impact of gas flaring reforms in Texas, what a "new normal" might be for global demand, and why IEA and EIA projections diverge.
A new green energy era begins in the North Sea as the U.S. shale market transforms, and slumping rig counts question the industry's ability to respond to an increase in oil demand.
Kurt and Cameron review the impact of the new OPEC+ deal on oil prices, suppliers, buyers, U.S. shale operators and more.
On Saturday. the OPEC+ alliance ratified its agreement to extend oil production cuts through the end of July. That agreement has a lot of moving parts, and it relies on strict compliance from countries that don’t have a good track record of adhering to quotas. The deal also represents a new, more sophisticated approach by the cartel to proactively control oil prices and, not to spoil the surprise, but they may have finally hit upon a way to keep U.S. shale producers in check as part of it.
Kurt and Cameron discuss some bold hypotheses for an accelerated OPEC+ meeting this week, along with potentially troubled waters for the global natural gas market.
Our look ahead the coming week, including how drillers' ability to react to a demand increase could be impacted by technical and human capital limitations.
We discuss how talent acquisition, career development and diversity will evolve in the energy sector post-pandemic, with Airswift CEO Janette Marx.
World Oil Editor-in-Chief Kurt Abraham reviews Canadian trade associations' proactive efforts to support oil and gas operations, and that strategy's importance in the face of new IEA comments.
Key trends for the coming week, including how industry groups' response to low oil prices differ dramatically in the U.S. versus other producing nations, China's big plans for its economy, and investment analysts turning their backs on key sectors of the industry.
Mr. Arindam Das, head of consulting at Westwood Global Energy Group, discusses where energy sector companies must focus to meet capital markets' new expectations, both to survive the downturn and to act advantageously as stabilizing markets present new opportunities.
- Understanding how capital markets gauge companies' investment value after the oil price war
- Private equity money is still moving, but their expectations are evolving as well
- Pitfalls and opportunities for small to medium operators in the UK and Norwegian Continental Shelf, and U.S. shale plays
Analyst and author Simon Watkins discusses the real result of Saudi Arabia's production cuts, how recovering global markets impact large and small shale players differently, and what that means for the future of the industry.
- What were the Saudis' true motivations for production cuts;
- The cuts' financial impacts to the kingdom, and dwindling options to mitigate them;
- How U.S. shale's storage capacity problem suits it well for a coming increase in demand;
- What "Shale 3.0" will look like, and how it will evolve differently for larger and smaller players;
- And, a bit of detente in the asymmetric war between Russia and the U.S., exemplified by the Nord Stream 2 pipeline.
Find Mr. Watkins' latest book, An Insider's Guide to Trading the Global Oil Market, here:
Amazon.com in the U.S. and Canada
Amazon,com in the United Kingdom
Oil reaches its highest price since March, which could lead to a new production imbalance, and Oxy is left holding the bag on a major asset sale.
Key trends for the coming week, including a couple of wild cards that could threaten the recovering global oil price and production balance.
View the EIA's projections of depressed U.S. oil production and rig counts through 2021.
View Craig Fleming's summary of Noia's town hall on threats to Canadian offshore production.
In today’s oil and gas operations, remote connectivity is not only making operations more cost effective, but it’s also making significant improvements in the health, safety, and well-being of personnel in the field. Thanks to new developments in satellite connectivity, advances that were once only technically and financially feasible for offshore installations are now available for land operations as well.
On today’s show is Morten Hagland Hansen, VP of Commercial Maritime and Energy at SES Networks, to explain how connectivity improvements are advancing land operation efficiencies, to bring them on par with offshore peers.
We look at the emerging evidence that production cuts are working, and how this is impacting oil prices.
A look at the trends for the coming week, including how production cuts are affecting near-term supply worldwide, where we can anticipate demand growth to start taking place first, and just what it will take from an operational standpoint to restart production.
Arindam Das, Head of Consulting at Westwood Global Energy Group shares his insights on the near-term outlook for M&A activity in the oil and gas sector on today's show.
Kurt and Cameron discuss more service company layoffs in Texas, the final outcome on prorationing, and what is likely to happen in shale plays as the crude demand decline levels off.
Find the Texas Railroad Commission's Blue Ribbon Task Force report here: http://freepdfhosting.com/783dce9154.pdf
OTC announces its Spotlight on New Technology winners for 2020, Russia's ship has come in for Nord Stream 2, Shell finds a cash buyer for its Appalachian shale assets, plans to limit production in Texas are pronounced dead, and oil prices start the week off on a slightly-higher note.
In today's episode, Kurt and Cameron discuss OPEC's record-breaking output right before its vaunted production cuts take effect, Brazil finds itself in an enviable position relative to storage and demand, Texas Railroad Commission chair Wayne Christian releases an op-ed that would seem to render their upcoming vote on proration moot, and supermajors Exxon and Chevron feel the pain of low oil prices.
Find the Texas survey story Kurt referenced here: https://www.worldoil.com/magazine/2020/april-2020/special-focus/world-oil-survey-texas-ep-professionals-favor-prorationing-by-wide-margin
The worldwide coronavirus pandemic is affecting how oil and gas companies do business day-to-day, from dealing with social distancing challenges to maintaining efficient operations in the face of whipsawing commodity prices.
Perhaps one of the biggest obstacles lies in the need to protect employee health by respecting quarantine rules, while keeping production in remote locations online.
Today’s show features Matthew Norgate and Stephen Murphy of Acoustic Data, a UK-based provider of wireless well technology, to talk about how remote deployment technology is keeping the oil industry moving forward.
To learn more, please visit www.acousticdata.com
Kurt and Cameron look at PDVSA's ambitious overhaul, "glimmers of hope" for Canadian production, and possible bridge loans for U.S. oil companies on the horizon.
Harold Hamm's force majeure raises eyebrows, Diamond Offshore declares Chapter 11, Saudis cut production ahead of schedule, and the investment community feels the heat on Arctic activity.
Kurt and Cameron wrap up an historic week for oil prices, the prorationing debate, Canadian production, and outside-the-box approaches to storing excess crude.
Daily Brief, 4/22/20 - The coming oilfield debt reckoning, North Sea operators contend with Brent weakness, and a brewing Iran conflict adds further uncertainty to oil futures.
With oil at -$37.00/bbl, Kurt and Cameron explore how market forces are compelling action on a state, federal and international level, and what can be expected on Day Two of the negative oil price era.
Kurt and Cameron talk about how oil prices, state and federal politics are impacting oilfield service companies, and what that means for an (eventual) turnaround.
Read Kurt's summary of the Texas Railroad Commission's prorationing hearing here: https://www.worldoil.com/magazine/2020/april-2020/special-focus/world-oil-analysis-texas-railroad-commissioners-face-difficult-decision-on-prorationing
Kurt and Cameron discuss oil's crossing of an important psychological milestone, what the Saudis are doing in advance of the OPEC+ cuts taking effect, and an in-depth look at the historic TRRC meeting, and the long-range impact of a decision by the regulator either for or against prorationing oil production in Texas.
Kurt and Cameron talk about how the market has reacted to the OPEC+ deal in the first day of trading, the RRC's open meeting to discuss prorationing in Texas, and how trade associations are reacting to the market.
Read Texas Railroad Commissioner Ryan Sitton's press release here: https://www.worldoil.com/news/2020/4/13/sitton-rrc-should-be-open-to-evaluating-any-path-at-tuesday-s-hearing
Analyst and author Simon Watkins and World Oil EIC Kurt Abraham take and in-depth look at the opportunities, the compromises, and the challenges facing every major oil and gas player following the historic OPEC+ production cut agreement.
Cameron referenced Simon's previous visit to the show, where he offered a thorough history of the U.S.-Saudi relationship, and how those deep ties are affecting current policy decisions. Listen to that episode here: https://blubrry.com/worldoilsdailybrief/57243424/daily-brief-thursday-march-12th/
Find Simon's latest book, An Insider's Guide To Trading The Global Oil Market here: https://tinyurl.com/u426fjz
Kurt and Cameron take on the fallacy of a "free market" for oil, what non-OPEC+ members are ready to do for a deal, and who (if anyone) the U.S. Department of Energy is trying to help in all this.
Find the rundown of key OPEC+ players Cameron mentioned in today's show here: https://www.worldoil.com/news/2020/4/7/a-look-at-the-major-players-in-this-week-s-opecplusplus-meeting
Kurt and Cameron discuss the expanding OPEC+ negotiations, Canada's emerging role in production cuts, and the API's support (or lack thereof) for the broader oil industry.
Kurt and Cameron review all the developments in Washington, Moscow and Riyadh this week, and what they mean for the emergency OPEC+ meeting on Monday.
World Oil makes a digital shift, Trump shows off his ability to make dramatic moves in the oil market, and OTC goes dark for 2020.
Kurt and Cameron cover action on many fronts in Washington, Saudi Arabia fires their opening salvo in the oil price war, and Texas regulators share their demand projections.
Trump and Putin talk about the oil market, and the Saudis make a move to increase cash reserves while prices reach another constant-dollar low.
Click here to see the tariff survey content discussed in today's show.
Click here to read Kirk Edwards' op-ed in the Odessa American.
Kurt and Cameron summarize the week's market moves, discuss reaction to Wayne Christian's op-ed, and finish off reviewing results of the tariff survey.
To subscribe to World Oil's daily newsletter, click here: https://www.worldoil.com/newsletter-sign-up
We've been talking a lot about production lately, so today we'll take a look at what's happening with oil demand, and the resulting need for storage options for all the extra crude.
Kurt and Cameron talk about market prices, Wayne Christian's op-ed, and the opinions of service companies and operators regarding intervention in the oil market.
Is there really a "free market" for oil? Kurt Abraham and Cameron Wallace review the industry's opinion on a tariff, and whose interests the API pursues in their latest communications.
View the API commentary Kurt references here: https://tinyurl.com/sbucjm4
See the World Oil historical oil price chart here: https://tinyurl.com/uj6zlck
Kurt and Cameron discuss the week's oil price swings, and the developing palace intrigue at Texas' oil regulator as a commissioner is invited to the next OPEC meeting after suggesting a joint agreement to reduce oil production.
Trump shares his thoughts on oil prices, some analysts see single-digit prices in the future, Occidental's debt falls to junk status, and more.
Kurt Abraham shares preliminary results of the World Oil import tariff survey, discusses the travails of the stock market, and more.
To learn more about the survey, please click here: https://www.worldoil.com/news/2020/3/18/world-oil-launches-oil-import-tariff-survey-early-results-show-clear-trends
With WTI crude exploring record lows in inflation-adjusted dollars, Kurt Abraham talks about how today's prices compare to previous downturns in the industry.
In today’s show, World Oil magazine’s Editor-in-Chief, Kurt Abraham, leads an oil price summary for the week and compares the current decline to other downturns, in inflation-adjusted dollars. He also talks about gauging industry interest in pursuing a tariff on Saudi crude imported into the United States.
Does the coronavirus offer a prime opportunity for Russia and Saudi Arabia to team up against U.S. shale producers? Or, as international oil analyst and author, Mr. Simon Watkins, explores in today's show, is this a "last throw of the dice" for the Saudis?
To find Mr. Watkins' latest book, An Insider's Guide to Trading the Global Oil Market, please visit https://www.amazon.com/Insiders-Guide-Trading-Global-Market/dp/1912741024/ref=sr_1_1?keywords=An+Insider%27s+Guide+to+Trading+the+Global+Oil+Market&qid=1584033294&sr=8-1
Kurt Abraham, World Oil magazine’s Editor-in-Chief, joins the show to talk about the latest oil price developments, the promises of increased production from Saudi Arabia and Russia, how the UAE may hike output, and what options the U.S. has to respond with a fee on imported crude.
In today's episode:
- We look at what a market oversupply means for America's status as a net crude exporter;
- Russia threatens another production hike, while simultaneously keeping the door open for another OPEC deal;
- Saudi Arabia is doing their part to drive oil prices down by declaring another production increase of their own.
On today’s show, World Oil Editor-In-Chief, Kurt Abraham, takes a look at some of the drivers behind previous collapses in the price of oil, and discuss how the fallout from last week’s OPEC+ meetings are impacting prices now.
Research and development is the lifeblood of the energy industry’s digital transformation and decarbonization initiatives. From supermajors to service companies, significant engineering and financial resources are being dedicated to the development of new technologies.
Tax benefits are in place around the world to help incentivize these types of R&D developments, and the opportunities they present are not all the same. Joining us on The Daily Brief today from business performance consulting firm Ayming are Mr. Herve Amar, President, and Mr. Thomas Folsom, Managing Director USA, to share their insights into how oil and gas companies can best take advantage of these programs.
To request a copy of the Benchmark report discussed in today's show, please visit https://thebenchmark.ayming.com/
In today's episode:
- Chevron’s CEO says it won’t follow in the footsteps of other supermajors “aspirational” climate change goals;
- Oil prices stopped their recovery, as Russia’s delegate walked out of the OPEC Plus meeting in Vienna this morning;
- And, a consensus seems to be building on Wall Street around a coming contraction in global oil demand.
Today's episode of The Daily Brief is sponsored by Siemens. Visit www.siemens.com/oilandgas to learn more about Siemens’ engineering services and technologies for platforms and vessels, including FPSOs.
In today's episode:
- Exxon and Chevron's CEOs are looking at a challenging week for earnings results on Wall Street;
- Oil prices held on to gains, as a key OPEC committee looks set to recommend higher production cuts for the group's meeting on Thursday;
- The managers of Alaska's $67 billion sovereign wealth fund are not pleased with a key bank that's opposed to Arctic drilling projects;
- We'll take a quick look at the role R&D tax credits can potentially play in meeting energy transition goals;
- The Texas Railroad Commission posted its total oil and gas production numbers for the state in calendar year 2019.
Learn more about the Ayming US report on R&D tax credits here: https://thebenchmark.ayming.com/
Today's episode of The Daily Brief is sponsored by Siemens. Visit www.siemens.com/oilandgas to learn more about Siemens’ engineering services and technologies for platforms and vessels, including FPSOs.
In today's episode:
- Oil is climbing again, on signals that OPEC and central bankers may be ready to prop up financial markets;
- OPEC production is sinking, thanks to a combination of careful planning and events outside the group's control;
- An election in Guyana will determine who holds the purse strings in the suddenly oil-rich nation;
- Two of the worlds largest energy conferences were canceled yesterday, after the World Health Organization raised its virus threat level.
Also, today we welcome Siemens as a new sponsor of The Daily Brief. Visit www.siemens.com/oilandgas to learn more about Siemens’ engineering services and technologies for platforms and vessels, including FPSOs.
In today's episode, we look at what the coronavirus is doing to Chinese gas demand, and the rare steps China is taking in response; gas prices in the U.S. fall to a four-year low; and oil holds around $50 in spite of OPEC's inaction.
Integrating people, processes and technologies is a complex challenge in modern offshore drilling operations. From the operator's standpoint, finding a baseline of reliability and certainty to maximize rig operational time is a primary goal.
At Baker Hughes' 2020 Annual Meeting in Italy, we spoke with Chuck Chauviere, the company's Vice President of Subsea Drilling Systems, about how new technologies are driving predictivity into drilling actions, and helping to build the baseline of reliability and certainty that operators demand.
Digitalization is a critical tool for oil and gas companies, as they work to improve both production efficiency and compliance with climate change goals. While these new, interconnected systems expand across the exploration and production cycle, security risks are growing right along with them.Joining The Daily Brief today is Michael Porier, Managing Director with business and technology consulting firm Protiviti, to talk about cyber security risks, and how companies can mitigate these risks in their digital transformation plans.
Download the Protiviti report, "National Terrorism Advisory System (NTAS) Issues Bulletin on Potential Terrorism Threat to the U.S. Homeland From Nation-State Cyberattacks" here:https://www.protiviti.com/US-en/insights/protiviti-flash-report-nation-state-cybersecurity-threat-010720
Guyana's recoverable reserves jump with a new discovery, Texas voters will have an outsized impact on climate change, and we put a number to the barrels at risk to the coronavirus.
Oil hits a two-month low as the Asian virus threatens demand; one of the best-known shale bankers tells Houston to embrace the energy transition; continued Mediterranean tension has tankers piled up off Libya's coast.
At Davos, energy chiefs tout CO2 capture technologies while Greta Thunberg slams progress; the U.S. shale industry has already peaked for service companies; and oil claws back some recent losses following prolonged unrest in Libya.
One of the three energy forecasting agencies is completely wrong, the EU considers military intervention as Libyan oil output stops, and Republican lawmakers plot their own 'green' strategy to reach young voters.
DUC declines reflect a slowdown in U.S. shale, oil advances on Trump's trade agreement, Turkey's Mediterranean drilling plans raise tensions in the EU, and more
Texas processes drilling permits at a record pace; Encana formalizes its plan to leave Canada; Norway's finance minister says the oil era isn't over; Total hires Maersk Drilling for a record-setting well offshore West Africa
We look at the influence gasoline prices can have on U.S. elections, a hedge fund that won big shorting shale is bullish on Canada, and the EU makes a trillion-euro climate commitment.
Oxy conducts sweeping layoffs; no matter what Trump says, the U.S. needs Middle East oil; China offers access to foreign companies to its oil and gas fields, and more
Today's topics include:- The recent oil rally is cooling, after Iran's foreign minister said they are not seeking an escalation or war following last night's strikes on U.S. bases in Iraq;- OPEC seeks to reassure the oil markets amid spiking Mideast tensions;- With Vladimir Putin standing at his side, Turkish president Recep Tayyip Erdogan offers to diffuse the U.S.-Iran standoff
Today's topics include:- Apache and Total make a significant discovery offshore Suriname;- BP is reshaping its UK North Sea portfolio with a 626 million dollar asset sale;- Oil producers are locking in price gains in the wake of Middle East tensions;- The American Petroleum Institute is taking on Democrats’ climate plans in a new TV ad campaign.
As mentioned on today's show, below is a link to check out the first TV spot in API's new PR campaign:https://youtu.be/87ObTFn68ic
Today's topics include:- Oxy seeks to spin off its Western Midstream Partners unit to reduce balance sheet debt;- Equinor makes significant emissions-reductions pledges for its Norwegian operations;- Brent crude briefly touches $70 as fears of an oil supply disruption grow.David Russell, VP of Content Strategy at TradeStation in Chicago joins the show today as well, to talk about how markets are reacting to recent actions in the Middle East, and observes which trends are having the most impact on global stock markets.
Also, as referenced in today's show, below is a link to a story on WorldOil.com that may shed some additional light on Oxy's timing of its Western spinoff:https://www.worldoil.com/news/2020/1/3/permian-pipeline-competition-accelerates-as-capacity-exceeds-supply
Oil soars to near $70/bbl on escalating Iran tensions; Hess bucks the market with its Guyana project; Pemex goes back to the drawing board on priority drilling projects, and more
Today's topics include:
- According to the Federal Reserve Bank of Dallas, the Texas oil sector continues contracting amid ‘challenging’ conditions;
- Trump’s sanctions have led Allseas to halt its work on Putin’s Nord Stream 2 gas pipeline;
- ExxonMobil and its partners have made another major oil discovery in the Stabroek block offshore Guyana;
- Apache and Total have formed a joint venture to explore offshore Suriname;
- Analysts see few surprises in 2020 as OPEC+ cuts trim the global oil surplus.
Topics on today's show include:
- Shale pioneer Harold Hamm has invited Senator Elizabeth Warren to tour shale sites in her home state of Oklahoma;
- Schlumberger has committed to meeting the U.N. Paris Agreement’s emission-reduction targets;
- Norway’s financial regulator says ‘green’ investing has a dark side;
- And finally today, the U.S. Department of Energy has won the dubious distinction of coining the worst phrase of 2019.
Also for the last two weeks of December, we'll do a weekly recap episode on December 27th and January 3rd. Daily episodes will resume on Monday, January 6th.
Topics covered on today's show include:
- An Israeli court halted Noble’s Leviathan gas project over environmental concerns;
- Canadian crude-by-rail shipments are ready to surge, and spurring new export investment;
- Alaska’s governor says that an oil tax hike might imperil an industry renaissance in the state;
- Chinese traders offering LNG on the cheap hints at a severe supply glut;
- BP is following Total in a quest to improve recyclability of petroleum-based products.
To read more on today's topics, please visit www.worldoil.com/news
There's a lot happening in the shale space today:
- Permian basin industry groups are challenging perceptions on methane emissions;
- The new U.S. Secretary of Energy says the slowdown in the Permian is only temporary;
- WaterBridge has raised $345 million to expand its Permian operations;
- Devon Energy agrees to sell its Barnett shale assets for $770 million;
- China is breaking global records for oil imports, and the numbers are still growing.
To learn more about these topics and other news of the day, please visit www.worldoil.com/news
Today's headlines on the Daily Brief include:
- Weatherford emerges from Chapter 11 bankruptcy and appoints a new board of directors;
- Accelerating Permian base decline demands more drilling to maintain current output;
- Canada’s energy industry is beginning to shine, just as U.S. shale loses its luster;
- Exxon and Chevron have both been targeted by a climate-activist investor group
Visit worldoil.com/news for more information on today's topics.
Today's show is an interview with Eric Waeckerlin, an attorney with environmental and energy law firm Holland and Hart, talking about what's next for the energy industry, and its detractors, following ExxonMobil's legal win against the state of New York. We discuss the goals of lawsuits such as these, what energy companies are doing to defend themselves from inevitable litigation, and how the industry at large can improve its net-zero-emission outcomes by working to own the narrative in the public square.
Topics from today's show include:
- Chevron has greenlit its Anchor 20,000 psi deepwater project in the Gulf of Mexico;
- Total is beginning FEED studies on its own 20ksi discovery on North Platte in the Gulf of Mexico;
- SBM Offshore has signed a 22-year FPSO contract with Petrobras;
- Harold Hamm has stepped aside from the CEO role at Continental Resources.
Also, following is a link to the World Oil magazine article, "Qualification of a 20,000-psi BOP: A collaborative approach", as discussed on today's show.
Today's headlines on the Daily Brief include:
- Chevron is taking an $11 billion writedown amid weak gas prices;
- Springfield E&P makes a significant oil discovery offshore Ghana;
- Maersk chooses partners for its Seapulse exploration drilling program;
- Aker Solutions wins a FEED study for the BP Cypre project in Trinidad.
In the second half of today’s show, we’ll hear from Dr.Marco Pasquali, who is the director of a joint research initiative of Rice University and Shell called the Carbon Hub. Dr. Pasquali will share the details of the research program that envisions a net-zero-emissions future, in which oil and natural gas are used to create both clean energy and advanced materials.
Today's headlines on the Daily Brief include:
- Proposed U.S. sanctions on Russia’s Nord Stream 2 gas pipeline will target subsea construction vessel operators;
- Exxon has prevailed over New York in its climate change lawsuit;
- A giant oil find in Mexico won’t be a miracle cure for an ailing Pemex;
- Saudi Arabia isn’t counting on an oil price rise in its 2020 budget.
Today we’ll also have a quick chat with Ben Schuler, CEO of Infinitum Electric, who has just closed a funding round with Chevron Technology Partners, and others, as part of Chevron’s carbon-reduction program.
Today's headlines on the Daily Brief include:
- There’s been a shakeup in the top ranks of Tullow Oil following continued poor results in Africa;
- Rosneft is elbowing PDVSA aside on Venezuelan service contracts;
- Canada’s Canacol Energy has won three new gas exploration blocks in Colombia;
- Developing nations are demanding payouts for climate change at a UN conference;
- Could Bitcoin be part of the solution to end gas flaring?
In today's episode, OPEC nears a deal to further increase production cuts, Fugro completes a milestone project offshore Brunei, Turkey causes a stir by flaunting maritime boundaries in the eastern Mediterranean, and Houston's economy begins to show shadows of the 1980s as shale drilling slumps.
OPEC+ opened its autumn meeting in Vienna today, so the show will take a look at how Saudi Arabia's plans to cut production are impacting oil prices, and what kinds of conditions for other members those cuts include. We'll also look at how China is impacting global LNG prices, Johan Sverdrup's rapid impact on Norwegian crude production, and legal actions against Shell for a nearly 50-year-old oil spill.
In today's show, we look at Chesapeake's new debt deals, rallying oil prices, decommissioning in the North Sea, and Repsol's recent carbon reduction pledge as climate change goals increasingly look to be out of reach.
In this episode, we discuss Canada's oil sand operators' plans for next year, OPEC clamping down on production quotas, UK action on carbon capture and storage, Saudi Aramco's plan to be the the industry's leading low-carbon producer, and more.
In the first episode of the World Oil Daily Brief, we take a look at U.S. crude export performance, what OPEC thinks about the shale revolution, and carbon sequestration development offshore Norway.
Coming soon! Your daily recap of the day's Oil and Gas news, trends and technologies. Delivered just in time for your commute home.