Editor

Editor

IEA whistleblower says peak oil approaching

crude oil barrels

The world is closer to a peak in oil supply than International Energy Agency estimates admit, UK newspaper The Guardian reported in today’s edition, citing an unidentified “whistleblower” at the IEA. The senior official claims the US has played an…

OPEC talks about production increases

iea_eia_opec_qvennerstedt

The group president of OPEC has said those organization ministers will raise output to protect the global economic recovery at a meeting in December if oil prices rise to US$100 per barrel. Jose Botelho de Vasconcelos, who is also Angola’s…

Hess warns of devastating crisis

John Hess

John Hess, the chairman of the US independent producer of the same name, has fired a warning shot to the world, claiming a “devastating oil crisis” looms large on the horizon if global action is not taken about developing alternative…

Warning over global oil decline

dino-peak-oil

There is a “significant risk” that global production of conventional oil could “peak” and decline by 2020, a report has warned. The UK Energy Research Council study says there is a consensus that the era of cheap oil is at…

Credit Suisse: Big players face output struggle

Credit Suisse

Credit Suisse expects the major US and European integrated oil companies to struggle to boost output to 2020, saying the sector is unlikely to see any volume growth over the coming cycle. However, the brokerage said Chevron is the only…