News & Analysis - Oil
July 31, 2015
With the end of the Obama administration in sight, signs point toward a deadline on the Keystone XL decision.
July 30, 2015
Mexico's debut bidding event in Round One of its energy reform is now history, and resulted in what was widely agreed was a poor showing.
July 28, 2015
Russian giant Rosneft's recent deals in Asia suggest it is potentially shifting the balance of its crude oil sales in the region, Daniel Colover observes.
Singapore (Platts)--31 Jul 2015 708 am EDT/1108 GMT
Prices of imported and domestically produced LPG were stable in South and
East China this week, despite Saudi Aramco cutting its August contract
prices by $30/mt, local trader sources said Friday.
Washington (Platts)--30 Jul 2015 511 pm EDT/2111 GMT
The US Senate Energy and Natural Resources Committee passed Thursday, in
a 12-10 vote, a bill to repeal long-standing limits on US crude exports,
setting up a possible full Senate vote on the export policy this fall.
Cameroon's oil industry has been on something of a road to recovery in recent years, with the country seeing crude production rise to its highest level in more than a decade earlier this year.
Also in this feature
US investment bank Goldman Sachs cut sharply Monday its forecasts for average oil prices in 2015 but said sliding US shale production could see the global oil market rebalance by the end of the year. Goldman said it expects Brent crude to average $50.40/b a barrel from $83.80/b, as global oil price continue to their rapid descent into near six-year lows. WTI is expected to average $47.15 a barrel, down from a previous forecast of $73.75/b, the bank said.
It could be argued that the history of oil is the history of the modern world. And Platts, a leading provider of analysis, news and prices for the industry, has played a significant role in this amazing story.
Of all the natural resources that have been used to build our world, surely oil is the most pervasive. We all know that oil provides the plastics in the computer we use, has driven revolutions in fashion, industry and transport, and even powers our homes. No one's life is untouched by this immense resource.