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Saudi Arabia Plans for Future of Saudi Aramco

Deputy Crown Prince Mohammed bin Salman announced a restructuring of Saudi Arabia’s Public Investment Fund (PIF) to be partly funded by selling shares in Saudi Aramco. He said that Saudi Aramco will be valued at over $2 trillion dollars when ...

OPEC and Russia Fail to Make Production Freeze Deal

In a meeting over the weekend in Doha, Qatar, OPEC members and Russian representatives failed to come to an agreement on a production freeze. The talks failed to reach agreement, partly because Saudi Arabia wanted Iran to participate in the ...

Iran’s Production Increases

While the rest of the world worries about the oversupply of oil and gas and market prices, Iran continues to increase output. Iran’s current production has passed the 3.5 million barrels per day mark. Iran’s Deputy Oil Minister, Rokneddin Javadi, ...

Six years after Macondo, New Federal Safety Regulations

The BP oil spill and fire occurred on April 20, 2010. Six years after Macondo the Federal government is still unveiling new regulations to prevent future disasters. The Interior Department's Bureau of Safety and Environmental Enforcement final regulations include more ...

Wall Street Positive on Oil

Oil prices continue to fluctuate, but Wall Street investors see the upward trend as a positive development. Trade alerts for several U.S. corporations including California Resources Corp. Devon Energy Corp, Oasis Petroleum Inc. and Cabot Oil & Gas Corp. indicate ...

SandRidge Faces Restructuring or Bankruptcy

Since mid-2014 and the 60% slide in oil price, SandRidge has battled with financial stability. Company officials announced this week that have "engaged advisors to assist with a private restructuring or reorganization under Title 11 of the U.S. Bankruptcy Code ...

Global Oil and Gas Forecast to 2025

The Global Oil and Gas Exploration and Production Market report forecasts an industry growth rate of 4.5% over the coming decade. The market value in 2025 is predicted to reach $6.7 trillion. The market analysis looks at historical data from ...

Reserves Replacement Down to 75%

Major oil companies burned through reserves in 2015 replacing only an average of 75% with new reserves. The Wall Street Journal analysis shows that reserve replacement for major oil companies was the lowest in over a decade. ExxonMobil replaced only ...

Wind Generation in Federal Waters Moves Forward

The Bureau of Ocean Energy Management (BOEMO approved the first wind energy research project in Federal Waters off Virginia. Wind energy research is part of President Obama’s Climate Action Plan. The plans call for installation and operation of two 6-megawatt ...

Oil Slides below $40

The Energy Information Administration (EIA) reported record stockpiles of oil on March 24, leading to the largest weekly decline in oil prices in 2 months. EIA said that oil stockpiles increased by 9.4 million barrels the week ending March 18, ...