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Reflections on the Conference on “Peak Oil: Challenges and Opportunities for the GCC Countries”

April 15th, 2013
in
By Robert L. Hirsch - "I was fortunate to be among the few westerners invited to attend and speak at this first-of-its kind Peak Oil conference in a Middle East. The fact that a major Middle East oil exporter would hold such a conference on what has long been a verboten subject was quite remarkable and a dramatic change from decades of denial. The going-in assumption was that “peak oil” will occur in the near future.

National oil companies reshape the playing field

April 9th, 2013
in
As the balance of power in the oil industry shifts from large international oil companies (IOCs) to national oil companies (NOCs), business models for players throughout the industry are shifting in response.

Peak Oil Review – April 8, 2013

April 8th, 2013
in
"Oil prices underwent their biggest weekly drop in six months last week as US employment numbers came in far worse than analysts had expected, US crude inventories increased to a 22-year high, and the EU’s unemployment rate rose to a record. At week’s end Brent crude was down to $104.12, the lowest in eight months, after having traded close to $112 on Tuesday. NY crude closed at $92.70; the 4.7 percent loss for the week was the biggest weekly loss since last September. The Brent-WTI spread continues to narrow and is now below $12 a barrel.

Peak Oil Review – April 1, 2013

April 1st, 2013
in
"In a short trading week, oil prices rose steadily last week closing at $97.23 in New York and $109.93 in London. NY crude is now only $3 a barrel below the highs seen in mid February, but Brent crude is still $7 below these highs reflecting the tightening of the Brent-WTO spread to the smallest margin since July. Most of the gain last week was attributed to the “settlement” of the financial crisis on Cyprus and the report that the US economy grew by 0.4 percent in the 4th quarter rather than the 0.1 percent than had been expected..."

Peak Oil Review – April 1, 2013

April 1st, 2013
in
"In a short trading week, oil prices rose steadily last week closing at $97.23 in New York and $109.93 in London. NY crude is now only $3 a barrel below the highs seen in mid February, but Brent crude is still $7 below these highs reflecting the tightening of the Brent-WTO spread to the smallest margin since July. Most of the gain last week was attributed to the “settlement” of the financial crisis on Cyprus and the report that the US economy grew by 0.4 percent in the 4th quarter rather than the 0.1 percent than had been expected..."

Reasons Mexico’s Oil Production Has Stagnated

April 1st, 2013
in
By Raúl González García: "Mexico´s crude production peaked at 3.455 Mbopd in 2004 and has already declined to 2.568 Mbopd, (Feb 28, 2013). I believe it will not be possible to return to former production levels, nor even to the present official forecast of 3 million barrels per day..."

Reasons Mexico’s Oil Production Has Stagnated

April 1st, 2013
in
By Raúl González García: "Mexico´s crude production peaked at 3.455 Mbopd in 2004 and has already declined to 2.568 Mbopd, (Feb 28, 2013). I believe it will not be possible to return to former production levels, nor even to the present official forecast of 3 million barrels per day..."

Egypt, Short of Money, Sees Crisis on Food and Gas

March 30th, 2013
in
QALYUBEYA, Egypt — A fuel shortage has helped send food prices soaring. Electricity is blacking out even before the summer. And gas-line gunfights have killed at least five people and wounded dozens over the past two weeks. The root of the crisis, economists say, is that Egypt is running out of the hard currency it needs for fuel imports.

Mexico’s grand bargaining

March 30th, 2013
in
The Post’s View FOR MORE than a decade, Mexico’s congress was mired in three-way gridlock, making passage of desperately needed fiscal, economic and social reforms almost impossible. Now, under new president Enrique Peña Nieto, Mexicans are proving that political grand bargains can happen — and that democracies can tackle their toughest problems.

US petrol rules to push fuel costs higher

March 29th, 2013
in
The US Environmental Protection Agency has proposed new standards to cut pollution from road fuel that have been strongly opposed by the oil industry but backed by carmakers. The new rules to reduce the sulphur content of petrol, known as Tier 3, are intended to cut cars’ emissions of pollutants that create smog and cause breathing problems. The American Petroleum Institute, the oil industry group, argues that they will add up to 9 cents to the cost of producing a gallon of petrol , pushing up prices at a time when fuel costs have already been rising, and are [...]

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