China Is Ready To Give Iran’s Oil Industry A Major Boost

With the 25-year deal with China now moving ahead at pace, Iran has a buyer for all of the crude oil it can produce, albeit at discounted levels, so Tehran is pushing oil field development across the board. This includes not only the major fields in the huge West Karoun cluster – across which China has pledged to increase collective output by at least 500,000 barrels per day (bpd) within the next two years – but also the more challenging fields that nonetheless are rich in oil, especially those that are shared with Iraq. In order to…

U.S. Pipeline Operators Offer Special Deals To Oil Producers

Some of the largest pipeline operators in the U.S. have started to offer sweeter deals for crude oil shipment to producers as the midstream sector vies to curb its losses and keep its relevance amid the oil demand and production decline.  Pipeline companies, including Magellan Midstream Partners, Enterprise Product Partners, and Energy Transfer, have cut shipment rates in contract negotiations or have offered more advantageous rates in current contracts to U.S. oil producers to keep their customers amid a pipeline overcapacity and an overall…

Investors Are Betting Big On Canada’s New Gold Rush

These are unprecedented times of pandemic, US election uncertainty, and the rising fear of the potential for violent upheaval. Even legendary investors are advising people to flee to safe havens like cash or gold–and fast.  With gold now back in the safe haven spotlight like never before, many eyes are swiveling toward Canada, where the makings of a gold boom are just getting started.  Canada–home of the Val-d’Or Gold Rush–is making history.  Again.  And suddenly, a major rush to gold is leading to a surge of investor…

Saudi Arabia’s Economy Hit Hard By The Oil Price Crash

Saudi Arabia’s economy shrank by 7 percent, with the unemployment rate hitting a record high in the second quarter as the combined effect of the oil price crash and the coronavirus pandemic hit the world’s largest oil exporter hard.  Saudi Arabia’s gross domestic product (GDP) slumped by 7.0 percent year over year in Q2, the Kingdom’s General Authority for Statistics said on Wednesday. The oil sector contracted by 5.3 percent, while the non-oil sector shrank by 8.2 percent due to the restrictions and lockdowns to curb…

Digitalization Is The Only Way Oil Companies Can Survive

Going digital has been on the agenda of oil companies for quite some time. They have, however, been taking their time, testing the digital waters before diving in. That was then. Now, oil companies are in a rush to digitize. Energy companies’ investment agendas were just one more thing that the coronavirus changed dramatically. Exploration is on the back burner for most. It is all about survival now. And things like data analytics, remote monitoring, and cloud computing can ensure this survival because they reduce costs without negatively…

Key Indicator Shows Signs Of Oil Market Recovery

The North American Frac Spread Count has increased to triple digits this week, according to big data company Primary Vision.  The Frac Spread Count, which calculates the fracking completion crews currently finishing off wells, increased this week to 101, up by 12 from last week, the data released on Wednesday shows.  This is likely attributed, according to Primary Vision, to operators shifting their focus from drilling new wells to finishing off already-drilled ones.  The largest gains are seen in the Eagle Ford, the Haynesville,…

Key Indicator Shows Signs Of Oil Market Recovery

The North American Frac Spread Count has increased to triple digits this week, according to big data company Primary Vision.  The Frac Spread Count, which calculates the fracking completion crews currently finishing off wells, increased this week to 101, up by 12 from last week, the data released on Wednesday shows.  This is likely attributed, according to Primary Vision, to operators shifting their focus from drilling new wells to finishing off already-drilled ones.  The largest gains are seen in the Eagle Ford, the Haynesville,…

A Major Supply Shortage Is Set To Hit Lithium Markets

Lithium producers do not feel threatened by Tesla’s plan to produce lithium in Nevada. Miners, as well as analysts, believe that despite the recent drop in lithium prices, the industry is in for a supply shortage after 2025 as automakers significantly ramp up electric vehicle (EV) production.   Massive amounts of additional lithium supply will be needed to support not only the EV revolution but also the expected surge in stationary battery storage to support the wider adoption of renewable energy.  Therefore, lithium mining…