Following Saudi Attack Trump To Levy Paralyzing Sanctions On Iran

“I have just instructed the Secretary of the Treasury to substantially increase Sanctions on the country of Iran!” U.S. President Donald Trump tweeted early on Wednesday, days after top U.S. officials blamed Iran for the attacks on critical Saudi oil infrastructure. Earlier this week, President Trump told media “I’m somebody that would like not to have war,” ...

Source: Oilprice.com

The Biggest Winner In The Saudi Oil Supply Crisis

The weekend attacks on vital oil infrastructure in OPEC’s largest producer and the world’s top oil exporter Saudi Arabia could be a boon to Brazil, a non-OPEC producer which is not part of the OPEC+ production cut deal and which is set to boost its oil production and access to some of its prized oil exploration areas.   With security ...

Source: Oilprice.com

Majors Continue To Strike More Oil Offshore Guyana

ExxonMobil has made another oil discovery offshore Guyana, adding to a previously estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block, just a few months before it begins oil production from the Liza Phase 1 development. Exxon encountered a high-quality oil-bearing sandstone reservoir in the Tripletail-1 well in the Turbot area on the Stabroek Block, ...

Source: Oilprice.com

Why Oil Giants Aren’t Excited About E-Fracking

Drillers in the U.S. shale patch are continuously looking to save costs as they want to squeeze higher margins and profits. Those focused on oil production are also looking to find some useful application for the associated natural gas flowing with the crude, instead of just flaring it to unsustainable levels. A new tech for powering frac fleets could ...

Source: Oilprice.com