Oil plunged Thursday, with U.S. crude dropping almost 3 percent as the market grappled with oversupply fears as increased U.S. sanctions on Iran had more gradual impact than expected and U.S. crude oil inventories rose sharply.

U.S. crude settled down $1.79 or 2.8 percent at $61.81 a barrel, heading for its biggest weekly fall since February.

Brent crude futures fell $1.43 a barrel, or 2 percent to $70.75.

Market sentiment became more bearish as shifting U.S.

Oil Drops Nearly 3 Percent on Oversupply Worries | Devamı>>>

Brent crude prices topped $70 a barrel for the first time in nearly five months on Thursday as tightening supply continues to offset concerns about slowing global demand and rising US shale production. The international oil benchmark rose as much as 1 per cent to $70.03 a barrel, the highest since mid November.

Its US counterpart, West Texas Intermediate, gained 0.5 per cent to $62.77. Brent has been flirting with the $70-a-barrel milestone this week, with the rally underpinned by Opec’s intentional production cuts and output drops from sanction-hit Venezuela and Iran.

Oil Tops $70 A Barrel for First Time Since November | Devamı>>>

Oil and gas companies are facing competition from renewable energy and electric vehicles, a global campaign against the use of plastics and increasingly stringent climate targets. In the face of these challenges, shareholders want them to prioritize returns to investors rather than endless growth.

Most oil and gas companies are jeopardizing shareholder returns  by rewarding bosses for endlessly chasing growth in a world where pressure to meet climate targets and sharp falls in renewables costs are set to eat into future demand , finds a report from The Carbon Tracker Initiative, a not-for-profit financial think tank that seeks to promote a climate-secure global energy market by aligning capital markets with climate reality.

Oil And Gas Investors Tell Producers To Focus On Returns | Devamı>>>

For the global energy industry, China’s importance is hard to overstate. It is the world’s largest oil importer and is on course to be the largest gas importer this year. It accounts for about half the world’s coal consumption and almost a third of global investment in “clean” energy. If the Chinese economy were to go into a downturn, producers of energy commodities and technologies all around the world would be affected. China accounted for just over a quarter of the increase in world oil demand last year, according to Opec, and is expected to make about the same contribution this year, with its own consumption growth slowing in tandem with the global total.

The Week in Energy: China’s Slowdown | Devamı>>>

That we are on the path to a low-carbon future is beyond doubt. Despite disagreements among stakeholders and how we might get there, and the pace of change required there seems to be a broad unity in the long-term vision. We know we need an energy portfolio that both meets the needs of a growing population that is predicted to grow by 1.5 billion by the end of the century and satisfies the ever-increasing living standards of the existing populace.

Three Steps For Oil And Gas Companies To Survive Energy’s Transformation | Devamı>>>

The transition to a lower carbon economy has been long promised but the reality remains elusive. There is no doubt that the costs of renewables — led by solar and onshore wind — are now materially cheaper than they ever have been, having fallen respectively to the point at which the International Energy Agency in its latest short term outlook sees prices falling to between $20 and $50 per megawatt hour.

That means they can compete with other fuels, even if some of the costs of providing back up to cover the intermittency of renewable supplies are included.

Renewables Boom Fails to Dent Investment Allure of Hydrocarbons | Devamı>>>

Royal Dutch Shell is heavily investing in research and development of artificial intelligence (AI), which it hopes will provide solutions to some of its most pressing challenges.

From meeting the demands of a transitioning energy market, urgently in need of cleaner and more efficient power, to improving safety on the forecourts of its service stations, AI is at the top of the agenda. I have been working with Shell over the past months to help create a data strategy, which gave me a thorough insight into Shell’s AI priorities and initiatives.

Shell Uses Artificial Intelligence To Help Transform The Oil And Gas Giant | Devamı>>>

Venezuela is an energy rich country in the world, primarily in oil. However, the world giant is being condemned to starvation with the embargoes imposed by the countries. Therefore, the aim is to take control of the coup and control in Venezuela.

The main reason for this is the cheap and free oil, and now it is also the policy of managing energy. The same policies in the Middle East are carried out in Venezuela.

The Goal is to Take Over Venezuela’s Energy Resources? | Devamı>>>

Oil prices continued their ascent on Friday amid signs of supply cuts. Brent, the international benchmark, surged 4.1 per cent in recent trading to hit $58.23 a barrel. That equates to an 11.6 per cent rally this week, the highest since December 2016.

The oil market limped into 2019, after worries of a global supply glut sent prices swiftly tumbling into a bear market. Brent remains well below its high of nearly $87 a barrel, though prices have swung higher in recent sessions as traders reacted to data showing weaker Opec production and declining inventories.

Brent Crude Heads for Best Week in 2 Years | Devamı>>>

1) Global coal demand will remain stable

World coal consumption has never been higher than it was in 2013-14, but it seems that that level was a plateau rather than a peak. After declining over 2014-16, global coal demand started to pick up in 2017, and rose again last year. From now until at least 2023, the International Energy Agency has predicted, it will remain roughly stable, rising or falling only slightly each year.

The Week in Energy: A Look a Head to 2019 | Devamı>>>

When you talk about disruptive technologies and how they are shaping the future of the oil and gas sector the focus is usually on upstream activities, but the downstream sector is also a fertile proving ground. As a sector, it has taken stock of what is being achieved by upstream operations as well as casting an eye over activities in other industries and is starting to formulate strategies.

It is an area often a secondary consideration at the many oil and gas conferences that fill the calendar, but there are a few exceptions.

Downstream Sector Prepares Itself For Its Own Digital Transformation! | Devamı>>>

1. US oil production exceeded expectations.

A year ago, the Energy Information Administration estimated that US crude production would increase in 2018, below 600,000 barrels. This proved to be an inadequate statement: the actual increase was about 1.6 million v / g. This is a bit ahead of the previous summit in 1970, and also a bit ahead of Russia, the second largest producer in the world, which reported that October produced a record record of approximately 11.4 million v / g.

How Was The 2018 Year In The World Energy Sector? | Devamı>>>