Saudi Arabia effectively started a global oil price war this month aimed at quickly denting US oil output. Slowing a US drilling boom, however, could take more than a year.
Many observers expect a downward spir
Brent crude bounced off a four-year low on Wednesday to above $85 a barrel, a level that was still down 25 per cent since June, as a drop in the value of the dollar attracted some cautious buying in the oil market.
On Tuesday, the
The vast majority of shale oil in the US is produced at costs far below the current price of crude, the head of the west's energy watchdog said, which means US projects can withstand the market slump squeezing other producers.
Crude oil would cost at least $150 a barrel due to supply disruptions in the Middle East and North Africa were it not for rising production in North Dakota and Texas, US Energy Information Administration (EIA) chief Adam Sieminski said in an int
The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.
Jordan’s National Electric Power Company (Nepco) has given approval to an Estonian-Malaysian consortium to sign deals for building the country's first $2.4 billion oil shale-fuelled power plant, said a report.
Four companies have expressed interest in bidding for work on unconventional gas in Saudi Arabia as the world's top oil exporter pushes ahead with plans to develop challenging shale deposits, industry sources said.
Chevron Corp has been searching for up to $1.5 billion of equity investment to help develop its Duvernay shale formation assets in Canada and contacted potential investors including private equity firms, according to people familiar with the mat
Algerian state energy group Sonatrach has approved a $100 billion investment plan for 2014-2018 to increase oil and gas output and also aims to start producing shale gas in 2020, the official APS news agency reported.
By now everyone knows the shale revolution was made possible by the combination of horizontal drilling and hydraulic fracturing.
But although fracking has captured the popular imagination, and is often used as a synonym for the wh