Gas Production Triples in Two Years

The Marcellus and Utica shale natural gas fields continue sizzling in the Northern Panhandle, as West Virginia Geological and Economic Survey statistics show drillers pumped nearly three times as much natural gas in the region during 2014 compared to 2012. Once the Dominion Resources Cove Point liquefied natural gas export facility opens in Maryland – […]

Liquid Gold – Qatar’s Natural Gas

Qatar has recently passed Lichtenstein to occupy the position as the world’s wealthiest nation. Despite claims from tourist sites that the country owes its economic fame to the 19th century pearl industry, the true source of Qatar’s fortunes lies under its windswept sands. Qatar, it is estimated, has the largest non-associated (i.e., not found with […]

This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away

The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn’t be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil deposits which could not be profitable at these new lower oil prices. These wells […]

Iran eyes $185 billion oil and gas projects after sanctions

Iran on Thursday outlined plans to rebuild its main industries and trade relationships following a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020. Iran’s Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh said the Islamic Republic would focus on its oil and gas, metals […]

Greece to confirm construction of natural gas pipeline jointly with Russia

Greece supports the plan of building a natural gas pipeline jointly with Russia to be an extension of the Turkish Stream gas pipeline, new Minister of Productive Reconstruction, Environment and Energy of Greece Panos Skourletis said on Monday at the ceremony of responsibilities’ handover from the former minister Panagiotis Lafazanis. Skourletis said the plan of […]

Is the U.S. Really the World’s Top Oil Producer?

According to the recently-released BP (NYSE: BP) Statistical Review of World Energy 2014, the U.S. was the world’s largest and most diverse energy producer in 2014. The Statistical Review ranked the U.S.: #1 in oil production #1 in natural gas production #1 in nuclear power #1 in wind power #1 in geothermal power #1 in […]

Has U.S. oil production started to turn down?

The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn’t be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil deposits which could not be profitable at these new lower oil prices. These wells […]

Pakistan prepares to proceed with Iran pipeline project

The removal of economic sanctions on Iran will clear the way for Pakistan to pursue an ambitious gas pipeline for eventually importing up to $2.5bn worth of Iranian gas annually, says Pakistan’s petroleum minister. Pakistan’s energy-starved economy currently has a deficit of 2bn cubic feet of gas per day, rising to 2.5bn cubic feet per […]

Iran’s Oil Spigot

  Sanctions against Iran, devised to bring it to the negotiating table and curb its nuclear program, made it hard for the country to sell its oil. Deprived of customers and investment, Iranians saw production fall to less than half its peak before the 1979 revolution. A July 13 deal between Iran and six major nations […]

The ‘Oil Supply Glut’ Appears To Be A Myth

Summary The media continues to report that the world is greatly oversupplied with oil and this continues to have a negative effect on oil prices. The EIA and IEA both appear to be underestimating worldwide demand for oil by nearly 2 million barrels per day. The EIA lacks reliable production figures for any state except […]

Why Saudi Arabia Is Pumping Record Crude

Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016. Bloomberg’s Alix Steel reports on “Bloomberg Markets.”

Russian Oil Production Hits Post-Soviet Record

Russian oil and condensate production reached a new post-soviet record of 10.7 million barrels a day in 2015, according to the latest analysis from Wood Mackenzie. The research firm claims that condensate production will increase by 50 percent by 2018, compared to 2014 levels, although Wood Mackenzie warns that Russia could face a sizeable production […]

Top 5 Oil Producing Countries Could See Production Peak This Year

The EIA’s Short-Term Energy Outlook came out a few days ago. That is where they try to guess the future production and price for oil, for the USA as well as the world. As of late they seem to be getting a little timid with their predictions. They are saying not much growth is happening […]

EIA Confirms: U.S. Oil Production Peaked

U.S. oil production has peaked…at least for now. That is the conclusion from a new government report that concludes that U.S. oil production is on the decline. After questions surrounding the resilience of U.S. shale and when low oil prices would finally cut into production, the EIA says the month of April was the turning […]

Texas Oil Production Increases 16%

While crude oil production in the U.S. seems to have leveled off, oil production in Texas continues to move forward at a brisk pace. The Energy Information Administration (EIA) said that US oil production declined slightly by 0.5 percent or 50,000 barrels per day (bpd) in May from the prior month to an average of […]

The EIA’s Short-Term Guessing Game + Bakken Data

The Bakken and North Dakota production data fir May is in. Bakken production was up 33,352 bpd and North Dakota production was up 32,114 bpd. This is quite a shocker. I had not expected production to be up this much. Bakken barrels per day, in May, stood at 1,142,034 and all North Dakota barrels per day […]

OPEC production highest in three years

Output from Iraq, Saudi Arabia and the United Arab Emirates helped boost OPEC oil production to a three-year high, the International Energy Agency said Friday. The Paris-based IEA said in its market report for June production from the 12-member Organization of Petroleum Exporting Countries reached 31.7 million barrels per day, an increase of 340,000 bpd […]

China Peak Oil: 2015 Is the Year

Domestic production looks set to peak, with some profound implications for the world market. Intense focus on the North American shale boom, Saudi Arabia, and ISIS obscures an important emerging energy trend: China’s oil production is peaking. This has profound implications for the world oil market, because China is not just a massive importer of […]

Refracking Is the New Fracking

The technique itself is nothing new. Oil crews across the world have been schooled on its simple principles for generations: Identify aging, low-output wells and hit them with a blast of sand and water to bolster the flow of crude. The idea originated somewhere in the plains of the American Midwest, back in the 1950s. […]

Oil Choke Points vulnerable to war, chaos, terrorism, piracy

Due to the narrowness of the straits all of them can be disrupted with relative ease by piracy, terrorism, wars, or shipping accidents, affecting the supply of oil and world prices. The strong dependence of the U.S. economy on oil has made it of the utmost importance to guarantee the free flow of shipments through […]

Shell Arctic oil drilling to commence within weeks

Oil and gas giant Shell is expected to begin drilling for oil in the Arctic within the next two weeks. Thirty ships left Dutch Harbor in Alaska on Thursday for the Arctic to support two initial exploratory wells. The company has already committed about $7bn (£4.5bn) to the controversial project, and is confident it will […]

Shell to build another massive Gulf of Mexico oil platform

Royal Dutch Shell announced on Wednesday it will build a deepwater platform in the Gulf of Mexico for its Appomattox field discovery with an estimated startup close to 2020. Shell said it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global […]

Slovak oil deposits are drying up

WHILE oil drilling has never been a big industry in Slovakia, multiple tons of crude oil have been extracted each year in Slovakia for the last century. But existing oil deposits are running out, according to the Slovak cabinet in its Report about Security of the Slovak Republic for 2014. Regardless, Slovakia has usually depended […]

Bakken by County

North Dakota publishes monthly ND Historical Barrels of Oil Produced by County. This data however does not include confidential wells. But they do estimate, by county, their confidential well production here: Oil and Gas Production Report All charts are in barrels per day and are only for the last 16 months in order to get […]

Natural Gas Production in East Africa: An Inevitable Resource Curse

East African nations such as Mozambique, Uganda, Tanzania, and Kenya are experiencing a boom in oil and natural gas production that is increasingly exported by Western production companies to meet growing global demand. While these activities may appear to be an economic boon to these countries, the problem is that they could potentially cause natural […]

2015 Could Be The Year of Peak Oil

The EIA has finally updated their International Energy Statistics with data through February 2015. All data in the charts below are Crude + Condensate and is in thousand barrels per day with the last data point February 2015. (Click to enlarge) World C+C dropped 477,000 bpd in January and another 65,000 bpd in February for […]

Texas oil and gas production has taken a ‘huge hit’

The preliminary Texas RRC Production Data is out this morning. There appears to be a considerable drop in Texas crude oil production in April. All Texas RRC data in the charts below is through April 2015 and all EIA data is through March 2015. As always, the Texas RRC data is incomplete. The drooping lines […]

Saudi Arabia Pumps Oil Flat Out

Not content with the blow it’s dealt to U.S. oil drillers, Saudi Arabia is set to escalate the battle for market share by raising production to maximum levels. The world’s largest oil exporter has already increased output to a 30-year high of 10.3 million barrels a day in a bid to check growth from nations […]

Oil-Sands Megaproject Era Wanes

The era of the megaproject in Canada’s oil sands is fading. Crude’s price slump, pressure to get off fossil fuels and tax increases in Alberta are adding to high costs and a lack of pipelines, prompting producers from Suncor Energy Inc. to Imperial Oil Ltd. to accelerate a shift to smaller projects. Companies are deferring […]

Russian Arctic Drilling To Be Postponed

Russia’s Energy Minister Alexander Novak said on Thursday that Arctic offshore drilling planned for this year will be postponed until 2016 or later. “Drilling of wells (in Russia’s Arctic offshore territory) scheduled for 2015 will be delayed to the next year and possibly even longer,” Novak told Rossiya-24 state TV in an interview. He did […]

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