This blog is part four of a series that explores the intricate history of oil. 1973-1994: The Middle East Shrugs its Shackles It is important to understand that the oil industry is largely a Western invention and is very much American led. When America began making overtures to King Ibn Saud of Saudi Arabia in […]
Sanctions against Russia are moving closer to the country’s big oil companies. In this week’s Oilgram News column Petrodollars, Rosemary Griffin looks at the choices that companies such as Rosneft face. EU sanctions introduced Friday limit some state-owned Russian oil companies’ access to European financing in a move that could drive Rosneft, Transneft and Gazprom […]
The recent string of rebel takeovers in Iraq has affected not only the safety of its people but global energy markets as well. The last week of June 2014 marked a significant date for Brent-WTI spread pricing, as the Islamic State in Iraq and the Levant (ISIL) rebels took over Iraq’s largest oil refinery, Baiji. […]
When discussing oil, the Middle East immediately comes to mind. It is at the core of multiple current events occurring in the world, politically, religiously, economically, and in the energy market; therefore, it is no surprise that at the Platt’s Global Crude Oil Summit, there will be a session dedicated solely to core trends in […]
Given that oil has a large impact on infrastructure, transportation, and production in most countries, it is no surprise that the availability and price of oil is monitored carefully by many governments and traders worldwide. One aspect of the global oil market that fascinates me is oil price assessments, or average prices for different grades […]
Recently, while writing short updates about the energy and commodities markets for ZE’s DataWatch magazine, I noticed a trend: many price reporting agencies (PRAs) have been updating their oil price assessment calculation methodologies to reflect the large number of deals done in the Asia-Pacific region. Wanting to find out more, I delved into researching price […]
In the last 20 years, demand for oil and natural gas in Turkey has increased exponentially, and the country has developed into a significant consumer within the energy markets; however, the demand conditions coupled with insufficient natural resources have spiked Turkey’s energy import bill to alarming levels. The International Energy Agency (IEA) anticipates Turkey’s energy […]
Most oil companies have a dedicated team exploring new sources of energy, be it offshore crude, natural gas or any unconventional source. But, the inundating supply of crude from the Alberta oil sands and shale in the U.S. has redefined the scope and financial viability of offshore crude exploration. The official proven crude oil reserve […]
In the BusinessWeek article, “The Giant Sucking Sound: Why is Oil leaving Cushing’s Tanks So Fast?” , Matthew Philips takes a look at why a “historic glut of crude that built up in Cushing over the past three years” has dropped 40% (to 34 million barrels from 50 million barrels) at the close of August […]
ZE PowerGroup Inc. ® (ZE) has reached a working partnership with The Oxford Princeton Programme, the world’s leading provider of education and training solutions to the energy, commodity and derivatives industries. The partnership will enable the Oxford Princeton Programme to use ZE’s Enterprise Data Management (EDM) software for market discovery and analysis in its educational […]