All posts by Oilprice.com

Oil Prices Could Be Lower For Longer

The ECOreport reposts an analysis of market conditions, Oil prices could be lower for longer

Originally Posted on Oilprice.com

By Nick Cunningham

Oil prices have cratered in recent weeks, dipping to their lowest levels in more than seven months and any sense of optimism has almost entirely disappeared. All signs point to a period of “lower for longer” for oil prices, a refrain that is all too familiar to those in the industry.

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Is The US Shale Industry’s “Low Hanging Fruit” Disappearing?

The ECOreport reposts an OP-ED,  Is The US Shale Industry’s “Low Hanging Fruit” Disappearing?

Originally posted on Oilprice.com

By Nick Cunningham

The U.S. shale industry might have just received a huge windfall with the nine-month extension of the OPEC cuts. Shale output was already expected to come roaring back this year, but the extension of the cuts provides even more room in the market for shale drillers to step into.

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Big Oil Companies Investing In EVs

The ECOreport reposts an Op-Ed about diversification, Big Oil companies investing in EVs

Originally Published on Oilprice.com

By Jon LeSage

Speaking this week at the Bloomberg New Energy Finance conference in New York, Total SA’s chief energy economist, Joel Couse, forecasted that EVs will make up 15 to 30 percent of global new vehicle sales by 2030.
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Behind Russia’s Oil-Producing Renaissance

The ECOreport reposts a look behind Russia’s Oil-Producing Renaissance

Originally Posted on Oilprice.com

By Viktor Katona

On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. In 2016, only 3.7 billion barrelsof conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 percent of global proved reserves. Globally, exploratory drilling fell by almost 20 percent in 2015 and fell even further in 2016. Russia’s exploration activities, which were hit not only by plummeting oil prices but also by a targeted sanctions regime, suffered a double blow during this period. In 2015, only seven new hydrocarbon discoveries were made in Russia, three of them in the Baltic Sea. In 2016, oil and gas companies in Russia discovered 40 prospective fields, however, the 3P reserves of the largest among them, Rosneft’s Nertsetinskoye, amounted to 17.4 million tons. This stands in stark contrast with pre-sanction period achievements, for instance, 2014’s largest find, Pobeda, is believed to contain 130 million tons of oil and 0.5TCm of gas.

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Five State-Run Oil Economies

The ECOreport reposts a description of some of the most successful Petro-states, Five State-Run Oil Economies

Originally Published on Oilprice.com

By Zainab Calcuttawala

A policy of nationalizing chunks of an economy inevitably creates oligarchs who skim profits off the country’s natural resources.

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Oil Production Costs Are Higher Than 2011

The ECOreport reposts insight from the industry,  Oil Production Costs Higher Than 2011

Originally Posted on Oilprice.com

By Nick Cunningham

The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. Oil prices have stabilized and the cost cutting measures implemented over the past three years should allow companies to turn a profit even though crude trades for about half of what it did back in 2014.

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US Shale Industry Cash Flow Neutral For First Time

The ECOreport reposts from the natural gas sector, US shale industry cash flow neutral for the first time

Originally Published on Oilprice.com

By Nick Cunnigham

Oil prices are probably already high enough to spark a rebound in shale production.

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US Shale Faces A Reality Check

The ECOreport reposts an OP-ED from the fossil fuel sector, US Shale Faces A Reality Check

Originally Posted on Oilprice.com

By Nick Cunningham

The collapse of oil prices has forced the U.S. shale industry to slash production costs. In order to improve the “breakeven” costs for the average shale well, the industry has deployed three general strategies: improving techniques and technology, such as drilling longer laterals or using more frac sand; focusing drilling on the sweet spots; and demanding lower prices from oilfield service companies. All three of those strategies led to a decline in the breakeven price for a shale wells.

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Potash & The Global Food Fight

The ECOreport reposts an OP-Ed about industrial farming: Potash & The Global Food Fight 

Originally Published on Oilprce.com

By James Stafford

We are on the precipice of a food fight among 7 billion people, and potash will be right at the center of it.

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Lithium Is The Future Of Transportation

The ECOreport reposts an OP-ED maintaining that Lithium Is The Future Of Transportation

Originally Published on Oilprice.com

By James Stafford

Just a few years ago, we would have scoffed at the idea that electric vehicles could be mainstream anytime soon, or that the global appetite for lithium-ion batteries and mass power storage would be so voracious, and so sudden. Today, no one is scoffing, and lithium is being viewed as our new super-mineral that will catapult us firmly into the next century.

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