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Oil Industry Begins to Acknowledge Peak Oil

Sarah Kent and Brian Spegele for the Wall Street Journal: This month, European oil company MOL Group delivered a stark message to investors: Demand for fuel in its key markets is bound to fall. So-called peak oil demand is a mind-bending scenario that global producers such as Royal Dutch Shell PLC and state-owned Saudi Aramco […]

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‘Oil Companies Incensed by the Idea That They May Be the Next Lehman Brothers’

From The Economist: Oil companies have been incensed by the idea that they may be the next Lehman Brothers. Ben van Beurden, chief executive of Royal Dutch Shell, talks of financial regulators trying to “weaponise financial markets against oil and gas”. Patrick Pouyanné, the boss of Total, has urged Mr Carney to “take care of […]

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On the Blogs: ‘Is the Era of Oil Mega Projects Over?’

Irina Slav for oilprice.com: BP said earlier this year that its capex for 2016 would come in at less than the US$17 billion it had initially planned for the year. Shell boasted a 20-percent cut in its capex for 2015 from 2014, to US$29 billion. Exxon in March said it would be reducing its capital […]

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