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oil prices, oil trading
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Royal Dutch Shell’s CEO Peter Voser sought to manage expectations for new, alternative energy sources on Thursday and predicts that crude oil will remain the dominant energy source for decades, not to mention one that will become more difficult to obtain, and hence more expensive.
Voser also addressed whether so called “peak oil” the theory, around [...]
The US refused to back British claims to sovereignty over the Falkland Islands yesterday as the diplomatic row over oil drilling in the South Atlantic intensified in London, Buenos Aires and at the UN.
Despite Britain’s close alliance with the US, the Obama Administration is determined not to be drawn into the issue. It has also [...]
UK North Sea oil companies cannot afford to increase oil and gas extraction from the North Sea area, despite an increase in known oil reserves, according to a new report by industry body Oil & Gas UK shows that there are more projects under consideration than in 2009.
However, difficulties raising finance and the fact that [...]
The UK presses on with Falkland Island oil exploration as South American countries seek a claim from the UN, this could get interesting…
The UK have warned ownership of the Falklands was not up for debate as Argentina’s claim for the islands won backing from neighbours. UK Security minister Lord West insisted oil exploration would press [...]
Francisco Blanch from Bank of America Merrill Lynch has predicted that the non OPEC global crude oil output will peak by 2011. “We conclude that non OPEC supply, including non-conventional oil, NGLs and biofuels, will likely peak by 2011 at around 52.3 million barrels a day. Thereafter we see steady declines in production, reaching 51 [...]
Saudi Arabia must be very serious about any possible peak in oil demand, which is an alarm for OPEC’s biggest oil exporter to diversify its economy, a Saudi Oil Ministry adviser said.
Saudi Arabia is making a push into renewable energy and is starting its first carbon capture project, Oil Ministry adviser Mohammad al-Sabban said today [...]
UK drivers need to start treating oil as a scarce commodity and switch to greener transport to avoid crude oil shortages by 2020, according to Ian Marchant, the chief executive of one of the UK’s top companies.
Ian Marchant, who heads the £10bn Scottish and Southern energy, is among a group of corporate leaders warning that [...]
Peak crude oil prices are an imminent risk to the stability of the UK economy and the standard of living of its most vulnerable members, an industry taskforce warned yesterday.
Despite the extra two years’ grace thanks to the recession, the rising cost of oil will affect every aspect of British lives within five years, warned [...]
Peak Oil? World oil demand will peak at a maximum of around 110 million barrels per day after 2020, BP Chief Executive Tony Hayward said on Thursday in a bold prediction from the head of a major oil company.
The comments come as interest in the view that the world’s oil demand may soon reach a [...]
Global demand for oil will peak within the next two decades, Tony Hayward the chief executive of BP said the plateau would be reached between 2020 and 2030 as falling demand from developed countries balanced growing demand from developing nations.
His comments also suggest Mr Hayward now thinks the peak will come earlier than he had [...]
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