Friday, April 25, 2025

Oil and Natural Gas will Provide 60% of World Energy by 2040: Exxon

Gas, Nuclear, and Renewables Will Grow the Most, in that Order The global energy mix will not look that much different for oil and gas in 2040, according to Exxon Mobil’s (ticker: XOM) recently released 2017 Outlook for Energy: A View to 2040. Both the middle class and world GDP is expected to double in the next 15 years, accelerating

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China Lowers Export Quotas 40% for Majors

Larger quotas expected later in 2017 China will cut its export quotas to the country’s oil majors by 40% in the first round of licenses for 2017, reports Reuters, even as traders expect allowances for overseas sales to meet or exceed this year’s record levels. The Ministry of Commerce and the General Administration of Customs said the four state majors

Gasoline and Natural Gas Futures Up Following Inventory Report

Crude oil stocks increase as products draw down Crude oil inventories rose for the week ended December 23, 2016, according to the Energy Information Administration. Analysts expected a draw of approximately 1.3 MMBO, but the government agency reported 0.6 MMBO were added to stockpiles last week. Typically, an increase in crude oil stockpiles puts downward pressure on prices as more

Basic Energy Services Exits Chapter 11

Basic Energy Services emerges from bankruptcy with $125 million in new capital, and erases $775 million in debt Fort Worth-based Basic Energy Services (ticker: BAS) announced this month that the company has successfully completed its prepackaged restructuring. The company will exit Chapter 11 with $125 million in new capital, and with its debt level reduced by $775 million, according to