Russia relies on companies including Exxon Mobil Corp., BP Plc, Halliburton Co. and Schlumberger Ltd. for the latest technology and expertise it needs to develop an estimated $7.58 trillion in oil and natural gas resources that sprawl across nine time zones.
The Fed’s new focus on inflation or the lack thereof has changed market dynamics. Is good new now good news again? In other words is good economic news bullish or bearish? Well it may depend on the market you are looking at.
Following several years of stronger-than-expected North American supply growth, the shockwaves of rising U.S. shale gas and light tight oil and Canadian oil sands production are reaching virtually all recesses of the global oil market.
The oil markets are trying to rebound after falling hard on Cyprus headlines and deadlines. The risk of Cyprus leaving the Eurozone is rising after the attempts to sell natural gas reserves to Russia have reportedly failed.
President Obama's choice of Ernest Moniz to lead the Department of Energy may be a signal to the gas market that indeed the U.S. will start along a path of sharing our natural gas abundance with the world and start exporting it.