Oil and Gas News

January 07, 2015

Energy Crisis As Early As 2016
Washington DC (SPX) Jan 07, 2015
Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline prices doubling within 18 months. For a commodity as critical to our standard of living as oil is, it only takes a small shortage to drive up the price. On Thanksgiving Day, 2014 Saudi Arabia decided to maintain their crude oil output of approximatel ... read more

Previous Issues

Jan 06

Jan 05

Jan 02

Jan 01

Dec 31

Keystone XL job No. 1, GOP says With the Republican-led Congress taking its seat Tuesday, lawmakers say passing the Keystone XL oil pipeline is job No. 1 for the U.S. economy. ... more		AAA: Gas prices should stay low short-term Oil prices should stay low as supplies offset most production shortfalls, meaning U.S. drivers can expect to pay less for gasoline through 2015, AAA said. ... more		Moroccan shale continues to impress Gulfsands Petroleum, a company exploring the emerging shale potential in Morocco, said Tuesday exploration results there were better than expected. ... more
				Riyadh holds to oil line, prices drop further Word that OPEC kingpin Saudi Arabia would defend its economic interests sent an already battered oil market into a tailspin during the Tuesday session. ... more		North American rig activity slowing The number of rigs actively exploring for or producing hydrocarbons in North America declined more than three percent, oil services company Baker Hughes said. ... more

Tempur-Pedic Mattress Comparison & Memory Foam Mattress Review

Venezuelan leader turns to China amid oil collapse Sliding oil prices have sent Venezuela on a downward spiral - and sent President Nicolas Maduro on a trip to China to make an urgent appeal for cash. ... more		API disappointed with Keystone XL veto threat A sign from the White House that bills meant to approve Keystone XL would be met with a veto is disappointing, the American Petroleum Institute said Tuesday. ... more		Typhoon Ragasa hits south China after killing 15 in Taiwan Toxic homes a lasting legacy of Los Angeles fires Climate change causing havoc with global water cycle: UN		Chevron finds oil in Gulf of Mexico U.S. energy company Chevron said its latest major oil discovery in the Gulf of Mexico anchors its position as a global leader in deep water activity. ... more
				IHS: Islamic State financing war campaign with oil Oil is fueling the war chest for the group calling itself the Islamic State by more than $2 million per day, a study from consultant group IHS said. ... more		Iranian economy tied too hard to oil, commissioner says The Iranian government should work to take oil revenue out of its total budget to protect the economy from market dynamics, a commissioner said Tuesday. ... more

Startup in the Land of the Rising Sun; A Japanese Solar Venture - by Bradley L. Bartz

Fracking confirmed as cause of rare 'felt' earthquake in Ohio A new study links the March 2014 earthquakes in Poland Township, Ohio to hydraulic fracturing that activated a previously unknown fault. The induced seismic sequence included a rare felt earthquake ... more		Statoil's new North Sea operations will run by remote control Norwegian energy company Statoil said it started operations at a North Sea platform that will eventually be run by remote control from the shore. ... more		NASA says on track to send astronauts around the Moon in 202 NASA launches mission to study space weather NASA's ESCAPADE craft returns to Florida for fall mission to Mars		Iran breaking economic ties with oil An Iranian government spokesman said he expected the share of oil revenue designated in next year's budget to be down by about 30 percent. ... more
Milestone for Kurdish oil, companies announce Companies operating in the Kurdish north of Iraq said Monday they reached a milestone in terms of production and shipments for exports through Turkey. ... more		Oil beats other commodities for recent losses Oil prices lost more value than any other commodity last year, the U.S. government said, and are moving closer to historic lows in Monday trading. ... more		Libya air force says bombed tanker in Islamist-held port The air force of Libya's internationally recognised government said Monday that it carried out a deadly weekend air strike on an oil tanker in the Islamist-held eastern port of Derna. ... more		Croatia awards offshore licenses Italian energy company Eni and its partners at Rockhopper Exploration said Monday they were among the first to win licenses for work off the coast of Croatia. ... more

	Iraq oil exports soar but low prices hit revenue Iraq's oil exports reached their highest level in decades in December, the oil ministry's spokesman said on Saturday, but vital revenues were being hit by the plummeting prices of crude. ... more		Libyan oil tanker struck off Singapore's coast Maritime authorities in Singapore said Friday they deployed air surveillance teams to investigate oil spilled after two tankers collided off its coast. ... more

US lawmaker warns of military 'misunderstanding' risk with China

Spain approves 'total' arms embargo against Israel

Khamenei says Iran 'won't yield' to pressure to abandon uranium enrichment

Venezuela's Maduro heads to China to seek financial aid		Croatia grants 10 Adriatic energy exploration licences		Parts of Libya in the dark		Cyprus warns Turkey against any new energy moves		Iran's non-oil exports on the rise
Did The Saudis And The US Collude In Dropping Oil Prices?		Russia takes more action to prop up ruble		U.S. oil export policies increasingly fluid		Baker Hughes: U.S. rig count up from last year		Crude oil prices slide on last day of 2014

U.S. clears Texas LNG export terminal

Libya pro-government forces shoot down militia chopper

Gazprom Neft hails oil success in Iraq

Venezuelan economy slips into recession

UN sees 'limited' impact of Bangladesh's Sundarbans oil spill

Gazprom buys out South Stream partners

Car bomb near Syria gas plant kills 9: monitor

British energy players facing tight purse strings

Libya's losses mount as oil terminal burns

China's largest inland oil field depleting

The state of shale

North Dakota population hits record

China needing more energy, data show

Ukraine settles gas debt to Russia

Inventory data dings oil prices

Russia called on to suspend arctic oil ambitions

Texas drilling permits decline

Russia battles to contain Black Sea oil spill

Hess eyes Asian markets with Australian LNG

Tate Modern ordered to disclose BP funding

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