Wednesday, March 20, 2024
CERAWeek Day III: On peak oil demand & more
Wednesday, October 04, 2023
ADIPEC Day III: On partnerships, progress & more
Wrapped up my moderating duties at #ADIPEC2023 with a final Digitalisation in Energy session earlier today with Saravan Penubarthi, CTO of AiQ, on the future of #cybersecurity solutions for #energy systems. Great session, lovely audience at @Chevron Hall 14 #EnergyTransition pic.twitter.com/WDIc77ekQk
— Gaurav Sharma (@The_Oilholic) October 4, 2023
With panel sessions concluded, yours truly also took some time out to have a walkabout in the wider exhibition area spread over several halls.
Getting going on Day III of @ADIPECOfficial 2023. Here's @Yokogawa's display on #decarbonizing, @ABB_Energy's EV charging station mock-up (& @bakerhughesco talk on sustainable solutions) in the background #ADIPEC2023 #EnergyTransition #OOTT pic.twitter.com/Im6PLyz1p0
— Gaurav Sharma (@The_Oilholic) October 4, 2023
And...also said goodbye to Chevron's Boston Dynamics robotic dog(s) this blogger has been walking by for the past few days :)
Monday, October 02, 2023
ADIPEC Day I: "Decarbonising. Faster. Together"
Monday, July 31, 2023
On Guyana & other 'crude' musings
On a related note, while for much of OPEC+ the recent uptick in crude prices may come as a relief, for one new non-OPEC kid on the crude exploration block it has the makings of a spectacular boost in fortunes - Guyana. Here are the Oilholic's thoughts via Forbes on this micro-state in Latin America, with a population of less than a million people, and its full-blown oil boom.
Guyana's headline crude production which came in at less than 100,000 barrels per day (bpd) as recently as 2020 has grown nearly four-fold to just shy of 383,000 bpd in 2023, and is still growing, according to the country's Ministry of Natural Resources. That said all the market chatter of it either joining or being asked to join OPEC is a load of nonsense that been denied by the oil producers' organization itself.
Elsewhere in the Oilholic's world, yours truly offered his perspective market perspectives on CGTN and Asharq Business News following the conclusion of the OPEC International Seminar earlier this month, and noted OMV's potential recoverable natural gas find of approximately 48 TWh, or 28 million barrels of oil equivalent. This discovery carries the potential to alter the natural gas market in Central Europe, and is Austria's largest gas discovery in the last 40 years. So watch this space! That's all for the moment folks! Keep reading, keep it 'crude'!
Friday, July 07, 2023
On crude demand & the OPEC seminar’s conclusion
global oil demand is north of 100 million barrels per day (bpd), and every year the energy industry needs to invest to prevent the depletion of around 8 million bpd.
Tuesday, July 04, 2023
Back on a road (err...flight path) well travelled!
Saturday, June 06, 2020
'e-OPEC' agrees 9.7mbpd cut extension by a month
- 3 Oil Stocks That Might Go Bankrupt In 2020, May 15, 2020
- 5 Top Canadian Oil Stocks To Buy In 2020
- How To Interpret Saudi Wealth Fund’s $2 Billion Splurge On Big Oil Stocks
Friday, April 17, 2020
OPEC+ G20 = 'Crude' potpourri + V-shaped recovery
Saturday, April 04, 2020
A catalogue of ‘crude’ missives on oil market turmoil
- With whole countries in lockdown mode, forecasters now reckon a fifth of global crude demand could be wiped out - Forbes, Mar 26, 2020.
- The Oilholic's thoughts on why a resurrection of OPEC+ would be too little, too late for the oil market - Forbes, Mar 27, 2020.
- Oil futures are in record contango - Forbes, Mar 29,2020.
- Oil benchmarks ended Q1 2020 around 66% lower and lack of storage space is becoming apparent - Forbes, Mar 31, 2020.
- US shale explorer Whiting Petroleum becomes the first casualty of the current oil price slump as it files for bankruptcy - Forbes Apr 1, 2020.
- Moody's announces series of predictable negative outlooks on major oil and gas companies - Forbes, Apr 1, 2020.
- How Saudi belligerence has pushed VLCC rates to comedic highs - Rigzone, Apr 1, 2020.
- And finally, how a Donald Trump tweet sent oil futures soaring but the gains are unlikely to last - Forbes, Apr 2, 2020.
Tuesday, March 10, 2020
View on a 'crude' few days from Houston
Friday, March 06, 2020
OPEC+ talks collapse; oil futures tank
- Russia blocked OPEC efforts aimed at deepening ongoing OPEC+ cuts by 1.5 million barrels per day (bpd) raising the output cut level to 3.2 million bpd to the end of 2020.
- Stalemate means current level of cuts are set to expire as of April 1, 2020.
- Russian Oil Minister Alexander Novak even refused name/set date for next OPEC+ meeting; technical committee to meet on March 18.
- Senior OPEC sources tell this blogger “There is no plan B”.
- Oil benchmarks slump by as much as 8% in the immediate aftermath of the development and trading down by ~10% at the time of writing; Brent/WTI front-month contract at levels last seen in August 2016, and recorded largest intraday drop since the financial crisis.
OPEC+ in waiting mode as Russia plays hardball
As the #OPEC+ waiting game continues, it was a pleasure discussing #oil market direction with @Cibereporter of @euronews. No matter what OPEC does, demand scenarios following #CoronavirusOutbreak are looking pretty dire #OOTT #oilandgas pic.twitter.com/VoYvp6HhjN— Gaurav Sharma (@The_Oilholic) March 6, 2020
It was a pleasure rounding off #OPEC commentary on @CGTNEurope's Global Business broadcast with @AP TV crew. Thanks for having me on the program. Q1, Q2 looking pretty uncertain for the #oil market #OOTT #oilandgas pic.twitter.com/qIAJ2QQ6qm— Gaurav Sharma (@The_Oilholic) March 5, 2020
Thursday, March 05, 2020
Events overtaking OPEC as 1mbpd+ cut deepening is touted
Friday, February 28, 2020
A right royal crude market hammering
Thursday, December 19, 2019
Post OPEC quips & LatAm, Shale outlook
Here are yours truly's thoughts on the final communiqué from OPEC via Forbes, and another take on the Aramco IPO via the same publication plus a ReachX podcast touching on the issue of the company's valuation kerfuffle.
"The flat development of US light tight oil production is also possible in lower price scenarios, but we would likely see an initial period of multi-quarter production decline, with output stabilising at a lower level," said Mladá Passos, product manager of Rystad Energy's Shale Upstream Analysis team. Plenty to ponder about as 2020 approaches, but that's all for the moment folks. Keep reading, keep it 'crude'!
Friday, December 06, 2019
OPEC+ announces deeper cuts of 500kbpd
- "Signal we want market to take is that we are collectively showing readiness to rebalance the market, prevent heavy inventory buildup in Q1 2020," - Abdulaziz bin Salman.
- "Russia wants to avoid any oil market turbulence in 2020. We are not concerned with US shale, seeing signs of shale slowdown," - Russian Oil Minister Alexander Novak.
Late one to early crude commotion at OPEC
Thursday, December 05, 2019
On OPEC discipline & deepening cuts
Most unusual level of discipline being shown by #OPEC ministers, sources, no leaks, 2 of my oldest sources keeping mum. Additionally, media/analysts will not have "direct access" to ministers at opening session. Is a deeper #oil production cut coming? #OOTT #oilandgas pic.twitter.com/zSrG3moK3E— Gaurav Sharma (@The_Oilholic) December 5, 2019