The Oil Industry Is In Dire Need Of Investment

The global oil market is in flux once again. The bulls are fighting it out with the bears as COVID lockdowns come into force around the world. Oil prices may have hit 10-month highs on the back of extended production cuts from OPEC+ but black clouds have re-emerged on the horizon as the majority of […]

Peak oil? This T. Boone Pickens fund is swapping fossil fuels for renewables

The ETF, the NYSE Pickens Oil Response Fund, or BOON(BOON) , will become RENW, the Pickens Morningstar Renewable Energy Response Fund, in mid-August, embracing a strategy that “seeks to identify companies that are leaders in the transition to a low-carbon economy,” fund managers said in a filing (https://www.sec.gov/Archives/edgar/data/1540305/000089418919004394/a497trilinestickers.htm). (https://www.sec.gov/Archives/edgar/data/1540305/000089418919004394/a497trilinestickers.htm)Pickens indirectly controls TriLine Index Solutions LLC, […]

Will 2021 Be The Year Of Green Energy Stocks?

Looking back, 2020 will be a thick chapter in the history books. This year will be remembered for all kinds of catastrophes, from public health to economic devastation. But it may also be remembered as the turning point for clean energy and the year that changed the world’s trajectory away from certain catastrophic climate change […]

Supermajors Are Betting Big On Carbon Credits

“PEAK OIL IS SUDDENLY UPON US” blared a Bloomberg Green headline earlier this month. While the COVID-19 pandemic has been devastating for many economic sectors, few were as hard hit as the oil industry, which saw oil prices drop below zero in a historic bottoming out during what some are now referring to as “Black […]

Peak Oil and the Long Descent Down the Mountain

Electric vehicles, plastic alternatives, electrification of industrial processes – and more – are set to cut into demand for oil. In fact, we may have already reached a peak for the amount of oil produced in a single year, an idea known as ‘peak oil’. This week, Switched On speaks with oil demand analyst David […]

Energy Majors Announce Transition Principles

Several energy majors revealed Thursday that they have agreed to apply six principles as they play their part in the energy transition. The principles – which have been accepted by BP (NYSE: BP), Eni (NYSE: E), Equinor (NYSE: EQNR), Galp, Occidental (NYSE: OXY), Repsol, Royal Dutch Shell (RDS.A) and Total (NYSE: TOT) – comprise the […]

Setting Your Portfolio Up for “Peak Oil”

Last time we talked, I told you about the best energy plays available now that energy stocks are coming back into favor with investors. As I said, near-term demand remains an issue for big oil companies. The economic fallout of COVID-19 has caused problems for the energy sector as cars and planes are not moving […]

‘Is Exxon a survivor?’ The oil giant is at a crossroads

Over the last 135 years, Exxon Mobil has survived hostile governments, ill-fated investments and the catastrophic Exxon Valdez oil spill. Through it all, the oil company made bundles of money. But suddenly Exxon is slipping badly, its long latent vulnerabilities exposed by the coronavirus pandemic and technological shifts that promise to transform the energy world […]

Tesla and EVs didn’t brake for the pandemic, and now the age of oil is ending

During the first nine months of 2020, car sales cratered, with every major automaker seeing a steep drop in sales as the pandemic raged across the globe. That is, of course, every major automaker except Tesla. Despite the world practically stopping due to the pandemic, the Silicon Valley-based electric car maker sold more cars than […]

World’s Top Oil Trader Retiring From Shell

Royal Dutch Shell Plc is shaking up its mighty in-house trading unit, with the retirement of Mark Quartermain as head of crude — a job widely seen as the most powerful in the global oil-trading industry. The Anglo-Dutch oil major used the reshuffle to promote at least three women to top positions in trading, a […]

The turning point of 2020

Close your eyes. Take yourself forward in time to 2050, and then look back to 2020. What will you see? What will the historians of the future say of this time? What was the trajectory that the world embarked on after it? Was it a turning point, or just a blip in the flowing trends […]

Saudi Aramco’s IPO Birthday Party Crashed by the UAE

The word “pandemic” didn’t appear among the risk factors in the prospectus for the world’s biggest IPO, Saudi Aramco’s, which marks its first anniversary this weekend. It turns out that didn’t matter: Despite Covid-19’s savaging of the oil market, shares of Saudi Arabian Oil Co. now trade 12% higher than where they debuted. Others haven’t fared so well. To put that […]

Oil Prices Rise with Weaker Greenback

Oil closed higher as a weaker dollar offset an OPEC+ committee’s decision to hold off on offering a recommendation on whether a planned production hike should move forward. Futures rose 0.2% in rose in New York in an afternoon rally after falling as much as 1.9% earlier in Tuesday’s session. The Bloomberg Dollar Spot Index […]

Aramco Kicks Off Bond Sale

Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year. The state energy firm is raising debt after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable […]

Oil and gas CEOs play down industry fears of Biden; stress ‘collaboration’

Occidental’s Hollub ‘not so worried’ about Democrat’s agenda Total’s Pouyanne sees US investment opportunities Vitol’s Hardy sees ‘European flavor’ entering US market London — Oil and natural gas industry executives have given a cautious welcome to the prospect of a Joe Biden presidency in the US, with Occidental Petroleum CEO Vicki Hollub saying the industry […]

The fall of an empire

The decline of ExxonMobil has been remarkable in its magnitude and unexpectedness. Why it matters: While all major oil companies are facing troubles, Exxon has fallen the farthest, in large part because it has made the biggest bets on oil and gas — and the smallest bets on renewable energy. While rival BP has recently […]

Daniel Yergin on peak oil, an industry rebound and Houston’s place in the energy future

When energy expert Dan Yergin wrote “The Prize,” his Pulitzer Prize-winning 2008 book on the history of the global oil industry, the United States was dependent on foreign oil to power its economy. Since the shale revolution transformed the U.S. into the world’s top oil producer, America has become energy independent and, moreover, a net […]

Big Oil’s Godzillas are keeping the pipe dream alive

As big western oil giants like BP and Shell agonise over how to reinvent themselves in the face of a warming climate, some of the world’s other top producers are taking a very different approach. At BP’s headquarters in London, chief executive Bernard Looney is mapping out plans to cut oil and gas production over […]

What’s Next for Food Supply Chains?

Ecosystems are under tremendous stress to cater to an increasing world population. Urbanization, economic inequality, geopolitical conflicts, and climate change are further disturbing the ecosystem and emerging diseases with long, indefinite durations that are not just a growing risk but perhaps the new normal as pressures from food shortages increase. Billions of people are now […]

Andrew Sheets: The New Definition of “Peak Oil”?

Thoughts on the Market | Publicerades 2020-10-09 Do tech-driven energy efficiencies—coupled with a shift in environmental attitudes—mean oil demand will fail to recover to pre-COVID levels?

Exxon Signals Another Loss

Exxon Mobil Corp. likely made a third consecutive loss in the last quarter, heaping further pressure on the energy giant’s ability to pay its $15 billion-a-year dividend, currently the third-highest in the S&P 500 Index. Exxon suffered further losses in its refining division in the third quarter while higher oil prices were likely not enough […]

What If Preventing Collapse Isn’t Profitable?

The real downside of the green-profit narrative has been that it created the assumption in many people’s minds that the solution to climate change and other environmental dilemmas is technical, and that policy makers and industrialists will implement it for us, so that the way we live doesn’t need to change in any fundamental way. […]

Shell to cut up to 40% from oil and gas production to prepare for energy transition

Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters. Shell’s new cost-cutting review, known internally as Project Reshape and […]

Big oil era predicted to decline in 30 years

BP has developed three main scenarios for the global transition to renewable energy sources until 2050, following the negative OPEC forecast for oil. The most severe — Net Zero — threatens to reduce oil demand by 80-85% in the next 30 years and complete rejection of oil by 2050. The moderately realistic scenario — Rapid […]

A long road back for oil and gas

Houston’s oil and gas industry is facing a long recovery from the coronavirus pandemic if my family’s travel spending — or lack thereof — is any indication. Since the pandemic began to close the U.S. economy in March, my family has spent just $386 to gas up our two cars, about a quarter of the […]

Peak Oil: BP, Eni, Shell lead Big Oil’s search for new business model

For most of the past century, Big Oil executives found it pretty easy to explain to investors how their businesses worked. Just locate more of the commodities that everyone needed, extract and process them as cheaply as possible, and watch the profits flow. That’s all over now. The change has been so profound that the chief […]

Big Oil just isn’t as big as it once was

A dozen years ago, ExxonMobil was the bluest of blue-chip companies. Raking in record-breaking profit, it spent every quarter of 2008 as the world’s most valuable publicly traded company. Not anymore. The oil giant’s market value today is a third of what it was in 2008, when it was worth over $500 billion. That slide […]

Is Big Oil Doomed To Repeat The Coal Industry’s Mistakes?

Until this year, alarmists proclaiming the end of oil were often dismissed as crackpots or overly optimistic environmentalists. But the spread of the novel coronavirus and its unprecedented disruption of the global economy and many of the stalwart industries at its core has amplified the discussion about life after oil and brought it into the […]

Exxon Mobil replaced by a software stock after 92 years in the Dow is a ‘sign of the times’

Exxon Mobil’s been in the Dow in some form since 1928, but its tenure as the longest-serving component is coming to an end. On Monday, S&P Dow Jones Indices announced the largest changes to the 30-stock benchmark in seven years. Exxon will be replaced by Salesforce. Amgen and Honeywell International are replacing Pfizer and Raytheon […]

Saudi Aramco keeps dividend despite profit drop of 73%

Net profit at Saudi Aramco (ARMCO) slumped 73% to 24.6B riyals ($6.57B) in the second quarter (vs. estimates of 31.3B riyals), as a plunge in energy demand – due to the coronavirus crisis – weighed on sales of the world’s biggest oil producer. The majority state-owned company still maintained its Q2 dividend of $18.75B, unlike […]

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