wti oil

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5 Players To Watch In The FinTech Revolution

Artificial intelligence and Blockchains are the two biggest game-changing technology spheres that–even separately–could be bigger than the Internet breakout of the 1990s for investors. Our future—which is already here—is about maximum automation, algorithmic data and extremely efficient streamlining. From an artificial intelligence (AI) perspective, it’s about everything from self-driving cars to a possible cure for cancer. And when it comes to Blockchain, it’s about streamlining absolutely every kind of transaction in…


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Is The Aramco IPO On The Brink Of Collapse?

In what could be a humiliating decision, Saudi Aramco is considering not staging an IPO next year as planned, due to the difficulty of pulling off an international listing. On Friday, the Financial Times reported that Aramco is weighing a different strategy: selling stakes in the company to private investors and sovereign wealth funds. No final decision has been made yet, but there are several potential paths forward, including a public listing on Saudi Arabia’s domestic stock exchange plus a private sale. Or a private sale followed by an…


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Oil Markets Fear Iraqi Escalation

The expected military operation of Iraqi forces against the Kurdish peshmergas in Kirkuk has begun. Sources indicate that the Iraqi military, supported by Shia militias and Iranian forces, are battling in and around Kirkuk to retake the city and its vast oil reserves. Initial media reports that Kurdish fighters withdrew from the city without a fight are now being countered by reports on the ground of direct military contact. Iraqi military reports still indicate that they have retaken the Kirkuk oil fields and entered parts of Kirkuk. The official…


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Canada Aims To Solve U.S. Nuclear Woes

Canada believes it may have the answer to replacing some U.S. nuclear capacity with other forms of carbon-free energy.   When New York state and Massachusetts retire three nuclear reactors between 2019 and 2021, the two states will lose a combined 2.7 gigawatts of carbon-free power. Both states want to replace that capacity with other forms of clean energy, in line with their ambitious goals to reduce greenhouse gas emissions and increase the share of renewables in their energy mix. Some thousand miles north, Hydro-Quebec, owned by the Quebec…


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U.S. Oil Production To Increase in November As Rig Count Falls

U.S. oil production is set to increase in November, according the Energy Information Administration’s (EIA) Drilling Productivity Report published on Monday. (Click to enlarge)The EIA has forecast an increase of 81,000 barrels per day in November over October levels, even as the number of active oil rigs in the United States dipped steadily over the third quarter, shedding 20 rigs over the last eight weeks. The EIA is also predicting that U.S. crude oil production will hit 9.9 million barrels per day in 2018, a new high for the United States,…


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Is Hydrogen Fuel As Dumb As Musk Thinks?

Hydrogen fuel cells are a controversial thing. Elon Musk, for example, finds them “incredibly dumb”, and he’s far from the only one. Yet the concept of using the universe’s most abundant element to fuel vehicles is still alive and kicking. The latest of its proponents to make headlines is Swiss company, H2 Energy, which says it has achieved a closed-cycle hydrogen production process that uses all-renewable sources to make hydrogen for fuel and other applications. Its project, in partnership with utility IBAarau, is reportedly…


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New Tech Could Turn Seaweed Into Biofuel

In the future, we may not look up to the sun for energy, but down into the ocean’s depths. This month the U.S. Department of Energy announced an investment of nearly $1.5 million in projects to develop renewable energy from Hawaiian seaweed, following large investments in other parts of the nation in a new push toward the potentially groundbreaking development of seaweed-based biofuels. The $1.5 million will go toward establishing two large-scale offshore seaweed farms for development and production of biofuels. Of this hefty sum, $995,978…


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Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal

Russia’s oil producer Gazprom Neft is ‘holding its nose’ to the OPEC/non-OPEC production cut deal because it has made the company cut its production growth targets, Gazprom Neft’s first deputy CEO Vadim Yakovlev told Reuters in an interview published on Monday. “The companies involved in this deal are paying a different price. The effect is equal for everyone, but the contribution of the companies to the deal is different,” Yakovlev said. “This is related to the market players’ ability to increase…


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Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal

Russia’s oil producer Gazprom Neft is ‘holding its nose’ to the OPEC/non-OPEC production cut deal because it has made the company cut its production growth targets, Gazprom Neft’s first deputy CEO Vadim Yakovlev told Reuters in an interview published on Monday. “The companies involved in this deal are paying a different price. The effect is equal for everyone, but the contribution of the companies to the deal is different,” Yakovlev said. “This is related to the market players’ ability to increase…


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Tesla Execs Bail As Cash Flow Hits Record Lows

One month after Tesla lost its head of business development who wished to “spend more time with his family”, and just weeks after the EV company’s veteran battery technology director also unexpectedly quit amid a growing senior management exodus (full list at the bottom of this article), Tesla decided to even out the ranks on the bottom as well, and fired “hundreds of workers” this week, including engineers, managers and factory workers even as the company struggles to expand its manufacturing and product line, according…