In this interview, Fadel Gheit discusses the effect of Middle Eastern geopolitical issues on oil production, dissects the changing oil and gas production situation in the U.S. and explains how the shift in natural gas prices has turned the refinery business from the industry's perennial ugly duckling into a beautiful swan.
The cheapest and most profitable oil North America has ever seen is now “flooding” into the market. Producers are using “waterfloods”pushing water into underground formations to flush a large amount of oil out to nearby producing wells.
Global crude oil production has leveled off at 74 million barrels per day. However, now that economies are recovering, consumption levels are back on the rise and the result will be an inevitable rise in oil prices.
U.K.-listed iron-ore company, London Mining, says it has taken its first step into the coal sector with the planned $120 million acquisition of a 50.5% share of Delta Mining Consolidated's (DMC's) energy projects in SA.
All of the U.S.' school lunch programs could be supplied forever with the amount of baloney that is produced and disseminated by the public relations' offices of car companies of all sizes. This about the 'coming' use of lithium batteries for personal vehicle power-trains.