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Oil Industry Headlines: Week of December 14
Nigeria’s most influential militant group, Movement for the Emancipation of the Niger Delta (MEND), has issued a plea to competing factions. “We call on all genuine militant groups to unite and cripple the oil industry in Nigeria once and for all and stand strong to face a common enemy. The time has come for all breakaway factions to come together (read full article »)
Published in Industry News | on Thursday, December 20th, 2007
Oil Industry Headlines: Week of December 7
Speaking before the Senate’s subcommittee on energy, EIA Administrator Guy Caruso predicted that the average price of crude would rise approximately 18% in 2008 to $85 a barrel, reported the Associated Press. He added that “Speculators and others have moved toward investing in oil markets because of tight fundamentals . . . In other words, high oil prices are likely (read full article »)
Published in Industry News | on Thursday, December 13th, 2007
IEA Crisis Director Calls For More Oil and Gas Investment
Aad Van Bohemen, Director of Crisis Management at the International Energy Agency, recently made a surprising remark during an interview that aired on the Dutch television channel RTL-Z: Interviewer: Are you optimistic about the oil market? Bohemen: The IEA is not optimistic. We see a gap developing in the future between demand, if nothing is done to (read full article »)
Published in Industry News | on Wednesday, December 12th, 2007
Investing Beyond $100 Oil: Part II
As discussed in Part I, the International Energy Agency is predicting that a severe oil supply crunch in the next five years is likely to drive oil prices to record levels. Of course, this is exactly why Gilpin thinks this is a great time to consider investing in oil and gas. “As the petroleum age reaches a tipping point, (read full article »)
Published in Industry News | on Tuesday, December 11th, 2007
Investing Beyond $100 Oil: Part I
The significant gains we’ve witnessed in certain energy stocks are nothing compared to the gains we will witness as the next energy crisis comes into full effect. - Chris Gilpin
In a recent article, Is $100 Oil Cheap?, Casey Research Contributing Editor Chris Gilpin discusses the rapid decline of the world’s giant oil fields and what it means for your (read full article »)
Published in Industry News | on Monday, December 10th, 2007
Oil Industry Headlines: Week of November 30
Recent surges in international crude oil prices have caused unique problems in China, where the government imposes controls on fuel pricing. Chinese oil refiners, who buy crude on the open market, recently scaled back operations to almost nothing in order to avoid selling refined products at heavily discounted, state-set rates. The resulting national shortage in fuel supplies prompted Chinese officials (read full article »)
Published in Industry News | on Thursday, December 6th, 2007
Oil Industry Headlines: Week of November 23
U.S. consumers may see a significant spike in fuel prices after a major pipeline explosion in Clearbrook, Minnesota. Two workers were killed, and over one million barrels of Canadian crude per day have been shut off. The cause of the explosion is not yet known. According to Reuters, “There was no word on when line 4, the biggest of the (read full article »)
Published in Industry News | on Friday, November 30th, 2007
Oil Industry Headlines: Week of November 16
Light, sweet crude for January delivery hit a record high of $99.29 in early trading on Wednesday, surpassing Nov. 7th’s record of $98.62. Although crude oil and gasoline inventories rose in the U.S., global demand growth continues to outpace supply growth, creating upward pressure on prices. “Currently, oil producers are turning out about 85 million barrels a day, while the (read full article »)
Published in Industry News | on Thursday, November 22nd, 2007
Oil Industry Headlines: Week of November 9
Iraq “While big oil companies like Shell and Total are biding their time, cultivating relationships with the Iraqi government and patiently awaiting privatization legislation that may never come, smaller wildcatters are beating them to the punch by signing production and exploration deals in Iraqi Kurdistan.” Is Big Oil Losing The Race For Iraq? — Forbes Magazine In an (read full article »)
Published in Industry News | on Thursday, November 15th, 2007
Oil Industry Headlines: Week of November 2
It’s nothing new to have a crowd of analysts weighing in on where oil prices are headed. But these days, with things so, well . . . interesting, everyday people are getting in on the act, too. From London to New York, people are stepping off the sidelines and placing their own bets. Matthew Simmons, who writes about the oil (read full article »)
Published in Industry News | on Thursday, November 8th, 2007
Oil Industry Headlines: Week of October 26
As the prospect of $100 oil becomes more likely, analysts are weighing in on how record crude prices will affect consumers this winter. According to CNN Money, “a lack of refining capacity means U.S. refiners will struggle to produce both gasoline and heating oil, so the country will end up importing more gas during the holidays . . . importing (read full article »)
Published in Industry News | on Thursday, November 1st, 2007
Oil Industry Headlines: Week of October 19
As crude oil prices surpassed the $90 barrier this week, it seems that all the analysts could talk about was the prospect of $100 oil. “It’s not a question of when we’ll hit US$100 but how quickly. There are no bearish factors in the market right now,” Nauman Barakat, senior vice president of global energy futures at Macquarie Futures USA (read full article »)
Published in Industry News | on Thursday, October 25th, 2007
Curtis Hesler On Investing for $100 Oil
You need to be investing now for $100 oil in the future. - Forbes Online
In a recent article, Investing For $100 Oil, Forbes magazine contributor Curtis Hesler discusses the economy, future demand, and how it could affect oil and gas investments. He begins by explaining the status of the market as he sees it: I think we are (read full article »)
Published in Industry News | on Thursday, October 25th, 2007
Investing: Analysts Predict $100 Oil
Investing in oil “is a straightforward, and importantly, liquid way to play,” according to Citi Investment Research analyst James Neale. A recent Seattle Times analysis said that interest rate cuts enacted by the Federal Reserve in September may drive the price of oil higher. “The cut depressed an already weak dollar - lower interest rates push investors to higher-yielding (read full article »)
Published in Industry News | on Tuesday, October 23rd, 2007
Investing for the 2012 Oil Crunch
Oil and gas investments are taking center stage as forecasters predict $80, $90, and $100 oil. Although prices will fluctuate, more and more analysts are predicting that plain old supply and demand will drive prices into a long-term uptrend. In just five short years, according to the International Energy Agency, the world will (read full article »)
Published in Industry News | on Wednesday, October 17th, 2007
Oil Industry Headlines: Week of October 12
Barclay’s Capital released a report this week, saying that “The issue seems no longer to be whether oil will reach $100 a barrel, but when.” Shortly thereafter, oil passed the $90 threshold in after hours trading on Thursday after closing at $89.47 on the New York Mercantile Exchange. Platts Chief Economist Larry Chorn warned that, despite allocating $225 billion (read full article »)
Published in Industry News | on Friday, October 12th, 2007
Iraqi Investment Update
A Forbes article published this week provides further insight into the Iraqi oil quandary: “While big oil companies like Shell and Total are biding their time, cultivating relationships with the Iraqi government and patiently awaiting privatization legislation that may never come, smaller wildcatters are beating them to the punch by signing production and exploration deals in Iraqi Kurdistan.” Iraqi (read full article »)
Published in Industry News | on Friday, October 12th, 2007
Oil Industry Headlines: Week of October 5
In an interview with Fortune Magazine, Goldman Sachs investment bank analyst Jeffrie Currie predicted that oil has an almost 50% likelihood of reaching $90-$95 a barrel this winter. Currie cited disappointing production from Non-OPEC producers, increasing domestic demand within OPEC countries and rising extraction costs as driving forces behind anticipated record prices. On the subject of gas prices, Currie (read full article »)
Published in Industry News | on Friday, October 5th, 2007
Oil Industry Headlines: Week of September 28
As OPEC prepares to meet at its December summit in Abu Dhabi, international banks and analysts are speculating that it will not agree to an additional production boost despite record prices. Recently, prices soared beyond $80 a barrel just days after OPEC announced a 500,000 barrel per day increase in production beginning Oct. 1. The price jump surprised just about (read full article »)
Published in Industry News | on Thursday, October 4th, 2007
Iraqi Oil Investment Strategy Uncertain
As crude prices continue to break records levels, many market watchers are becoming convinced this is a long-term uptrend rather than a short-term spike. To capitalize on this insight, investors are exploring a variety of investment options in the U.S. and internationally.
Oil companies are, of course, doing the same thing. Unfortunately, (read full article »)
Published in Industry News | on Thursday, October 4th, 2007