News and Commentary From OilSlick.com


Stay Out of Russia
Exxon and BP and a few others got the bad news last week. Stay away from Russia. Continue reading
Libya Is Back
Libyan crude production rose to 850,000 bpd last week as the oil fields and export terminals are restarted. Continue reading
Bakken Export Capacity Increases
Oil produced from the Bakken is currently restricted by takeaway capacity. If you don't drill near a pipeline or a rail head you are out of luck. Continue reading
Active Oil Rigs at 27 Year High
Baker Hughes said active oil rigs in North America rose to the highest level since 1987. Continue reading
IEA Cuts Demand Forecast
The IEA said the drop in demand growth was "nothing short of remarkable" in their recent forecast. That can't be good as an economic indicator but it does suggest much lower gasoline prices in the future. Continue reading
Dodged a Bullet
Halliburton dodged a very expensive bullet by agreeing to settle before the court decision. Continue reading
Stop the Oil Train Madness
Officials from North Dakota and other Midwestern states are urging U.S. regulators to halt oil shipments by rail. Continue reading
Shale Oil Sinking Saudi Arabia
The amount and price for oil imported from Saudi Arabia has fallen to multi decade lows. Continue reading
Worst Possible Outcome
In the disaster that will not die the judge presiding over the case gave BP the worst possible decision. Continue reading
Shell's $6 Billion Mistake
Shell has submitted a new plan to the federal government for drilling in the Alaskan Arctic. Continue reading
Got Sand?
20 years ago a pile of sand would have been nearly worthless. If you owned a few million tons of sand today you would be set for life. Continue reading
Morgan Stanley to Export CNG
Morgan Stanley announced it was planning a Compressed Natural Gas (CNG) export plant in Texas. Continue reading
Gas Prices Promoting Gas Drilling
Drilling rigs targeting natural gas rose by 8 last week to the highest level since March. Continue reading
IRAN Talks Tough
Iran said new U.S. sanctions will not impact the current round of nuclear talks. Continue reading
One Year High in OPEC Production
OPEC production hit 31,033 mbpd in August thanks to gains in Nigeria, Saudi Arabia and Angola. Continue reading
LNG Flood
With $200 billion of LNG projects underway in Australia alone it looks like there will be a flood of LNG to market in the next 3-5 years. Continue reading
Ownership Shell Game
There is $100 million in oil on a tanker anchored off the coast of Texas. The oil was produced, loaded and shipped by Kurds through a port in Turkey. Iraq claims it is Iraqi oil and they want the cargo seized and held until the ownership question can be answered. Continue reading
Pemex Producing Water Instead of Oil
Mexico's Pemex lowered its production forecast on Friday saying the new outlook allowed for the rising volumes of water currently being produced with the oil. The new production forecast of 2.35 mbpd is thought to be closer to reality. Continue reading
Hamas Targeting Offshore Gas Rigs
Hamas has not had a lot of success recently in hitting their targets in Israel. Those rockets on course for populated areas normally get shot down by Israel's Iron Dome anti-missile system. Hamas turned its sights offshore and targeted the massive drilling rigs in the Israeli gas fields. Continue reading
BP Back in the Bids
BP Plc submitted the winning bids on 27 of 81 tracts offered for lease in the Gulf of Mexico. It was the first bid sale BP has participated in since the Deepwater Horizon disaster. The government blocked BP from bidding in 2012 until they had settled numerous claims related to the safety of the Horizon rig. Continue reading