oil reserves

The Shale Project That Can’t Deliver What Saudi Arabia Promises

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The Shale Project That Can’t Deliver What Saudi Arabia Promises

Saudi Arabia’s sudden enthusiasm for developing its vast shale resources – led by the giant Jafurah basin – is rooted in a heady mix of energy security, export optimization and geopolitical positioning. Riyadh wants to reduce still-burning crude for energy, free up more barrels for export at a time of tight OPEC+ management, and secure … Read more

US says it needs to control Venezuelan oil sales indefinitely to force change

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US says it needs to control Venezuelan oil sales indefinitely to force change

By Vallari Srivastava, Nathan Crooks and Jarrett Renshaw Jan 7 (Reuters) – The United States needs to control Venezuela’s oil sales and revenues indefinitely to drive the changes it wants to see in the country, Energy Secretary Chris Wright said on Wednesday. The comments reflect the importance of the South American country’s crude oil reserves … Read more