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Geologists say a new survey shows an oilfield in west Texas dwarfs others found so far in the United States, according to the US Geological Survey. The Midland Basin of the Wolfcamp Shale area in the Permian Basin is now estimated to have 20 billion barrels of oil and 1.6 billion barrels of natural gas, […]
Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that Opec will reach a deal to cut output. Donald Trump’s surprise win in last week’s US presidential election boosted the dollar and stocks but undermined oil. Crude has also fallen because […]
Mexico’s state oil company Pemex has laid out the broad strokes of a new strategy that could dramatically expand its use of partnerships in the Mexican exploration and production sector over the next five years. The plans open up the possibility of more than 160 new opportunities for private companies over the next two years. […]
Oil traded near $44 a barrel in New York amid a broader market rally driven by speculation Hillary Clinton’s chances of winning the U.S. election increased after the FBI said her handling of her e-mails wasn’t a crime. Futures rose as much as 2.1 percent in New York following the Federal Bureau of Investigation’s report. The S&P 500 […]
Some of the world’s biggest oil companies, including Saudi Aramco and Royal Dutch Shell, pledged on Friday to invest $1 billion to develop climate-friendly technologies as a global deal to wean the world off oil came into force. The Oil and Gas Climate Initiative (OGCI), which also includes Total, BP, Eni, Repsol , Statoil, CNPC, […]
Asian energy stocks fell with oil after the world’s biggest crude producers failed to agree on supply cuts, while rising metals prices in China spurred gains in mining shares. Gold was buoyed by haven demand following the reopening of an FBI probe into Hillary Clinton. The MSCI Asia Pacific Energy Index and crude both slipped to […]
Oil declined for a second day as OPEC’s internal disagreements undermined efforts among major suppliers to reach an agreement in Vienna on trimming output to support prices. Futures fell as much as 1.1 percent in New York after sliding 2.1 percent at the end of last week. The Organization of Petroleum Exporting Countries ended a meeting on […]
Definition of a risk: “Uncertainty concerning a loss arising due to a given set of circumstances.” Basic principles of risk: Do not hold more than you can handle in loss .B. Do not risk much for little. Consider probability of events and their potential impact. There is no “uninsured loss”. “An uninsured loss” is equal […]
Oil investors are playing it safe as OPEC hammers out the details of a deal to trim output. Money managers reduced bets on falling prices to the lowest since May as oil held above $50 a barrel, prolonging a rally that began when the Organization for Petroleum Exporting Countries announced a deal to cut production […]
Russia’s energy minister met with counterparts from Saudi Arabia and other Arab Gulf oil-producers to discuss steps to stabilize crude markets amid OPEC’s drive to win cooperation from the biggest supplier outside the group in limiting output to prop up prices. Ministers from Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab Emirates gathered in […]
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