The EIA released a report that highlights recoverable reserves of shale oil and shale gas. It doesn't look like there will be any shortage on the horizon.
Articles Tagged "China"
Stepping away from the pack, Andrew Coleman of Raymond James Equity Research is making a contrarian forecast for an oil glut in 2014. Shale oil production is on the ascent, with the United States joining Saudi Arabia on the supply side, while China's hunger for oil may be sliding and demand in developed countries remains in decline. In this interview with The Energy Report, Coleman explains his thinking and names the producers best positioned to capitalize on the turbulence ahead.
Bloomberg reported that West Texas Intermediate oil slipped 1 cent as data from Europe and China showed a slowdown in global manufacturing and equities continue to rise for a 3rd day.
The Guardian reported that a group of Ecuadorian politicians have auctioned off over 3 million hectares of Amazonian rainforest to representatives of Chinese oil companies in Beijing.
Bloomberg reported that the trade deficit in the United States widened and the gap grew by 16.5% as demand for crude oil import rebounded.
Reuters reported that Chinese oil company, CNOOC Ltd, which took over Canada’s Nexen Inc, has given the Canadian unit’s CEO freedom to run operations.
North American investors believe that the future of the market lies out east, and will be closely watching studies aimed at investigating China's unconventional resource development.
Reuters reported that Rosneft is planning to loan up to $30 billion from China in exchange for significantly higher oil supplies, which could make Beijing the biggest consumer of Russian oil.
The BBC reported that the United States has approved CNOOC's (NYSE:CEO,HKEX:0883) acquisition of Canada's Nexen (NYSE:NXY,TSX:NXY). The deal has already been okayed by Canadian authorities, so approval from the US means that the path for the sale is now clear.
Relations between Russia and Venezuela were boosted recently when Russian oil companies confirmed plans to invest $17.6 billion in the South American country’s energy sector.