Could East Africa Become The Next Major Oil Hotspot?
Could East Africa Become The Next Major Oil Hotspot?
Could East Africa Become The Next Major Oil Hotspot?
2021/06/30 14:44
Recon Africa: The Truth About The World's Most Exciting Oil Play
Recon Africa: The Truth About The World's Most Exciting Oil Play
A daring junior oil and gas explorer has set out to put the African country of Namibia—which has never produced a single barrel of oil - on the world’s energy map in a wildcat drill campaign that has taken many by surprise.
2021/06/30 14:26
Qatar: Peak Natural Gas Demand To Occur Around 2040
Qatar: Peak Natural Gas Demand To Occur Around 2040
One of the world’s largest liquefied natural gas (LNG) exporters, Qatar, expects global natural gas demand to peak at some point around 2040, Bloomberg reported on Monday, quoting a bond prospectus of Qatar Petroleum it had seen.
2021/06/29 15:09
U.S. Shale Producers Stick To Output Discipline
U.S. Shale Producers Stick To Output Discipline
Despite a strong rebound in oil prices, seeing them hit three-year highs, U.S. shale oil producers are sticking to their output discipline, Reuters reports, citing rig count data and industry insiders.
2021/06/29 15:03
Brazil's Oil Boom Continues Unabated
Brazil's Oil Boom Continues Unabated
Brazil's Oil Boom Continues Unabated
2021/06/29 14:56
Top 3 Best Performing Small-Cap Oil Stocks
Top 3 Best Performing Small-Cap Oil Stocks
Oil prices rallied to their highest levels in two and a half years after OPEC+ recently agreed to extend its historic production cuts. On Monday morning, WTI was trading at $71.66 per barrel while Brent crude was changing hands at $73.49, levels they last touched in 2018.e
2021/06/25 15:31
Oil And Gas Companies Set For Record Free Cash Flow This Summer
Oil And Gas Companies Set For Record Free Cash Flow This Summer
With oil trading above $70 per barrel while investment activity remains low, the world’s publicly traded exploration and production (E&P) companies are set to generate record-breaking free cash flows (FCF) in 2021, a Rystad Energy report projects. Their combined FCF is expected to surge to $348 billion this year, with the previous high being $311 billion back in 2008.
2021/06/25 15:28
Analysts Expect OPEC+ To Raise Oil Supply From August
Analysts Expect OPEC+ To Raise Oil Supply From August
The OPEC+ alliance is widely expected to decide next week to further ease the collective production cuts, but the additional supply from August will likely still be less than the supply deficit on the market, analysts and traders told Bloomberg in a survey.
2021/06/25 15:24
Fracking Pioneer Hamm: $100 Oil ‘’Sure Is Possible’’
Fracking Pioneer Hamm: $100 Oil ‘’Sure Is Possible’’
$100 a barrel oil “sure is possible,” Harold Hamm, executive chairman at Continental Resources, told FOX Business on Thursday, commenting on oil prices and supply and demand on the oil market.
2021/06/25 15:13
Solid oil demand is driving up the spot crude prices in every part of the world.
Oil Prices Set To Head Even Higher As Market Tightens
Solid oil demand is driving up the spot crude prices in every part of the world. This is a clear indication that the physical oil market is finally catching up with the recent rally in the paper market.
2021/06/24 10:30
Oil Climbs Higher On Bullish EIA Data
Oil Climbs Higher On Bullish EIA Data
Oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 7.6 million barrels for the week to June 18.
2021/06/24 10:21
Will Canada’s Oil Sands Survive The Green Revolution?
“Canadian oil industry’s carbon emissions are among the world’s highest for every barrel of oil it pumps,” Reuters reported this week. A typical barrel of oil derived from the thick crude bitumen that naturally occurs in the Albertan oil sands (an energy-intensive process) emits three to five times more greenhouse gas emissions than the global average.
2021/06/24 10:08
Could East Africa Become The Next Major Oil Hotspot?
Could East Africa Become The Next Major Oil Hotspot?
Could East Africa Become The Next Major Oil Hotspot?
Recon Africa: The Truth About The World's Most Exciting Oil Play
Recon Africa: The Truth About The World's Most Exciting Oil Play
A daring junior oil and gas explorer has set out to put the African country of Namibia—which has never produced a single barrel of oil - on the world’s energy map in a wildcat drill campaign that has taken many by surprise.
Qatar: Peak Natural Gas Demand To Occur Around 2040
Qatar: Peak Natural Gas Demand To Occur Around 2040
One of the world’s largest liquefied natural gas (LNG) exporters, Qatar, expects global natural gas demand to peak at some point around 2040, Bloomberg reported on Monday, quoting a bond prospectus of Qatar Petroleum it had seen.
U.S. Shale Producers Stick To Output Discipline
U.S. Shale Producers Stick To Output Discipline
Despite a strong rebound in oil prices, seeing them hit three-year highs, U.S. shale oil producers are sticking to their output discipline, Reuters reports, citing rig count data and industry insiders.
Brazil's Oil Boom Continues Unabated
Brazil's Oil Boom Continues Unabated
Brazil's Oil Boom Continues Unabated
Top 3 Best Performing Small-Cap Oil Stocks
Top 3 Best Performing Small-Cap Oil Stocks
Oil prices rallied to their highest levels in two and a half years after OPEC+ recently agreed to extend its historic production cuts. On Monday morning, WTI was trading at $71.66 per barrel while Brent crude was changing hands at $73.49, levels they last touched in 2018.e
Oil And Gas Companies Set For Record Free Cash Flow This Summer
Oil And Gas Companies Set For Record Free Cash Flow This Summer
With oil trading above $70 per barrel while investment activity remains low, the world’s publicly traded exploration and production (E&P) companies are set to generate record-breaking free cash flows (FCF) in 2021, a Rystad Energy report projects. Their combined FCF is expected to surge to $348 billion this year, with the previous high being $311 billion back in 2008.
Analysts Expect OPEC+ To Raise Oil Supply From August
Analysts Expect OPEC+ To Raise Oil Supply From August
The OPEC+ alliance is widely expected to decide next week to further ease the collective production cuts, but the additional supply from August will likely still be less than the supply deficit on the market, analysts and traders told Bloomberg in a survey.
Fracking Pioneer Hamm: $100 Oil ‘’Sure Is Possible’’
Fracking Pioneer Hamm: $100 Oil ‘’Sure Is Possible’’
$100 a barrel oil “sure is possible,” Harold Hamm, executive chairman at Continental Resources, told FOX Business on Thursday, commenting on oil prices and supply and demand on the oil market.
Solid oil demand is driving up the spot crude prices in every part of the world.
Oil Prices Set To Head Even Higher As Market Tightens
Solid oil demand is driving up the spot crude prices in every part of the world. This is a clear indication that the physical oil market is finally catching up with the recent rally in the paper market.
Oil Climbs Higher On Bullish EIA Data
Oil Climbs Higher On Bullish EIA Data
Oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 7.6 million barrels for the week to June 18.
Will Canada’s Oil Sands Survive The Green Revolution?
“Canadian oil industry’s carbon emissions are among the world’s highest for every barrel of oil it pumps,” Reuters reported this week. A typical barrel of oil derived from the thick crude bitumen that naturally occurs in the Albertan oil sands (an energy-intensive process) emits three to five times more greenhouse gas emissions than the global average.

Russia Has Oil Reserves At Least Until 2080

2021/05/15 16:13
Russia’s oil reserves will last until 2080 at the current pace of annual production, Natural Resources Minister Alexander Kozlov told Russian outlet RBC in an interview this week.

Russia’s oil reserves will last until 2080 at the current pace of annual production, Natural Resources Minister Alexander Kozlov told Russian outlet RBC in an interview this week.

Russia also has natural gas reserves for another 103 years of annual production at current output levels, the minister said.

Russia’s actual oil and gas reserves could even rise if it steps up exploration in hard-to-drill areas, the minister added, noting that Russia needs to develop exploration, including in hard-to-reach areas.

Last month, Evgeny Kiselev, the head of the Russian Federal Agency for Mineral Resources, told state outlet Rossiyskaya Gazeta  that Russia has 58 years worth of oil reserves, of which 19 years to profitably pump those reserves at current levels with current technology. Advances in technology, however, will constantly push back the deadline.

Asked how long Russia would have oil reserves, Kiselev said “indefinitely.”

Oil and gas export revenues are key to Russia’s budget income. Oil price collapses like last year’s lead to belt-tightening policies despite Moscow’s insistence that it can live with $30 oil.

Russia’s production fell last year and is set for slight growth this year and next, according to government data and estimates.

After setting a post-Soviet high in oil and condensate production in 2019, Russia saw its output drop by 8.6 percent in 2020 due to the lower global demand and low oil prices, as well as the OPEC+ production cuts. Russia’s crude oil and condensate production fell in 2020 for the first time since the 2008 financial crisis and then slump in oil prices, according to government statistics.  

Last month, Russia cut its estimates for domestic crude oil, gas, and coal production for 2021 and 2022, but kept the estimates for the oil production for 2023 and 2024 unchanged. As per the latest forecasts from the Russian government, oil production this year is set to stand at 517 million tons, down from a previous estimate of 560 million tons. The projection for Russia’s oil output in 2022 was also reduced, to 548 million tons, down from earlier estimates of production of 558 million tons.


Oil Reserves