Commodity Trade Mantra

Posts Tagged ‘Petroleum’

Chevron Terminates All Shale Gas Exploration In Europe

The US Energy Information Agency first estimated that Romania had enough shale gas reserves to supply the country for more than a century, but on exploration failures it looks like Romania does not have shale gas. So a SHALE ENERGY BANG turned into a WHIMPER as Chevron’s shale gas exploration projects turned out to be an utter failure.

Everyone Loves a Discount—But Where’s the Support for Oil Prices?

Since June, crude oil has tumbled 30% to prices we haven’t seen in about three years. And if crude oil were to fall to $60 per barrel? An estimated 80 percent of U.S. companies that extract tight oil, or shale oil, through fracking would be shut down and all new supply would diminish quickly due to the rapid decline rate.

The US Shale Oil Miracle Disappears

The EIA has placed a hefty downward revision on its estimate of the amount of recoverable oil in the #1 shale reserve in the US, the Monterey in California. EIA now estimates these reserves to be 96% lower than it previously claimed. Only 4% of the original estimate is now thought to be technically-recoverable at today’s prices.

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