/r/oil

Photograph via snooOG

Oil, gas, seismic science, engineering, and cool pictures of rigs. Everything you need to know about exploration, recoverable assets and pipelines.

Oil, gas, seismic science, engineering, and cool pictures of rigs. Everything you need to know about exploration, recoverable assets and pipelines.

This is the place to be when you want to know what's going on with the stuff that keeps the world turning and how it works.

Checkout /r/oilandgasworkers for more conversations


Lazy speculation posts are rule breaking offenses. Speculation is welcome in the comments of newsworthy posts or in the weekly general discussion and speculation post. Of course market changing news is worthy of it's own post but posts like "What do you think prices will look like in a month" is considered rule breaking.

No editorialized titles. Post title needs to match source title. Leave the comments for editorialization. Source must be included in post.

No non-market changing oil politics. Memes can be removed at mod's discretion.

Crude hydrocarbons only. No snake oil. No weed oil. No makeup oil. No cooking oil. No "relationship" oil. No car oil.

/r/oil

29,078 Subscribers

34

President Trump addresses Alaska ".... we will ensure the gas-line project gets built, to provide affordable energy to Alaska ..."

21 Comments
2024/11/10
11:16 UTC

6

18M - Should I get into oil?

As title suggest, I am 18 and have recently got into investing. Are there any notable oil ETFS or general stocks that would be worth purchasing now for hopeful long term growth? With the recent election of Trump and his oil plans will we see a large growth in value, similar to the spike in 2008?

64 Comments
2024/11/09
04:47 UTC

8

Woodmac’s Take

$5-$7 lower per barrel. No obvious “drill baby drill” production increases. Time will tell on how big the trade wars get from tariffs.

https://www.woodmac.com/blogs/the-edge/a-second-trump-administration/

1 Comment
2024/11/07
16:54 UTC

13

Irony . . .

0 Comments
2024/11/07
05:20 UTC

2

Guide to Understanding Plant Statements

Hi All, I do work with US Oil and Gas accounting data, and I am looking for a good source/guide to help me understand plant statements. I understand they're reported by the operators, yet I am really looking to understand the whole scope of the process behind them, especially the deducts for field gas and fuel (and why), and POP percentages/other ratios to be aware of. I don't have an oil and gas background and want to gain the fullest understanding possible that I can of these, yet can't seem to find a ton of in-depth resources online. Also, please let me know if I should redirect my question to another sub- thank you!!

0 Comments
2024/11/06
17:05 UTC

3

Looking for a mentor

Hey ☺️👋 I am doing my Master's in Oil and Gas field studies. I need to work on a project where I have to present all the information on specific oil field in charts and graphs, etc. I am a student in Russia and wanted to choose an oil field outside of Russia to make it more interesting for my class. Is there anyone who would like to assist me through my project. I would be really grateful if there is someone willing to help me out.

11 Comments
2024/11/05
18:15 UTC

3 Comments
2024/11/05
13:50 UTC

11

Trying to get into the oil and gas industry

I will be getting out of the military in a few months and I have always been interested in the oil and gas industry. I am willing to move anywhere and work any hours. I am 21M and have no experience in this field.

Does anyone have advice or pointers to get me going in the right direction?

20 Comments
2024/11/05
08:53 UTC

10

Gold, Silver, Uranium, Oil and Energy Trends-Doomberg

1 Comment
2024/11/04
17:03 UTC

37

Trump likely to build on previous administration and expand oil and gas production

86 Comments
2024/11/04
12:26 UTC

0

Where are the major oil rigs in the US? Do they have wifi? Thinking about working in an oil rig. Anyone works in oil rig here?

61 Comments
2024/11/04
10:57 UTC

2

Has the market priced increase in oil costs

This is a sort of basic question, but with everything going on globally, has the market, for the most part, priced in a potential rise in oil?

Would calls on oil companies or oil futures be stupid?

7 Comments
2024/11/02
18:40 UTC

2

Jereh Signs Agreement for Iraq’s Mansuriya Gas Field

Jereh and Petro Iraq for Oilfield Development Co., Ltd. (Petro Iraq)had officially signed a development and production contract with Midland Oil Company of Iraq (MdOC) to jointly develop the Mansuriya gas field. This marks Jereh’s first venture as a developer in a major oil and gas project in the ME region.

https://www.saudigulfprojects.com/2024/11/jereh-signs-agreement-for-iraqs-mansuriya-gas-field/

0 Comments
2024/11/01
14:28 UTC

12

CONFIRMED: HALLIBURTON IS SELLING OFF MULTI-CHEM

Its factual. You will see news articles soon, Mark my words.

19 Comments
2024/10/29
22:38 UTC

9

Financial analysis of the oil and gas industry

Hello everyone! I want to start understanding the industry better and its dynamics, for example the rig lags, production capacity, how to value an upstream segment company For context: I am currently conducting an equity research on a drilling company how would you suggest I do that? Thank you so much!

17 Comments
2024/10/29
06:53 UTC

31

Substantial oil reserves discovered in Pakistan -- summary and potential implications

About a month ago, I read a piece on the discovery of large oil deposits in Pakistan's waters.

Quick summary of the same: Discovery of extensive natural gas and oil deposits in Pakistan's territorial waters could signify a major potential shift for Pakistan's energy landscape. Initial findings indicate that these reserves, located in the Indus Basin, could rank among the world’s largest, potentially positioning Pakistan with the fourth-largest deposit globally. This discovery, bolstered by the region’s tectonic activity between the Indian and Eurasian plates, which has created favorable conditions for hydrocarbon accumulation, may enable Pakistan to reshape its energy dynamics if the deposits prove commercially viable.

What does this mean from a geopolitical perspective? For Pakistan? For other countries? Lets assess below:

Pakistan: Could be transformative for the country’s economy and geopolitical influence. Economically, tapping into these resources could drastically reduce Pakistan’s reliance on imported energy, lowering costs, improving energy security, and providing a boost to GDP through new jobs, infrastructure development, and export potential. A significant domestic supply could also stabilize energy prices and attract foreign investments in the energy and related sectors, further stimulating economic growth. Pakistan's economy is struggling and this discovery could be a real shot in the arm the country needs. Geopolitically, becoming a major energy player could elevate Pakistan’s standing in the world, giving it leverage in global energy markets and reshaping alliances.

However, several challenges could keep Pakistan from fully benefiting from this discovery. Extracting these resources will need advanced infrastructure, skilled workers, and steady investment - things Pakistan currently lacks. Political instability is also a big concern, as it could scare off foreign investors who view Pakistan as a risky place to do business. Safety issues from separatist groups and conflicts with India and Afghanistan add more hurdles. On top of that, Pakistan would need to think about environmental concerns and the global shift toward renewable energy. But the biggest factor is politics - if the pakistani politicians can, for once, work together for the country’s benefit, this discovery could truly be a game changer.

China: Could greatly benefit China as it offers an alternative energy source to the Middle East, thereby reducing its dependence on Middle Eastern oil and enhancing its energy security. China's close ties with Pakistan, bolstered by substantial investments in various sectors, position it to have significant influence over these newly discovered resources. Furthermore, as Pakistan's wealth increases due to these energy reserves, it could create a lucrative market for Chinese products, fostering deeper economic ties between the two nations. This development aligns with China’s broader strategy of securing energy resources and expanding its economic footprint in South Asia.

India: The impact of this discovery on India remains uncertain and complex. On one hand, if Pakistan successfully taps into these oil and gas reserves, it could enable the country to prosper and focus more on its own economy vs. creating troubles for India. This economic growth might lead to a reduction in tensions and conflicts that have historically troubled India, opening pathways for dialogue and potential cooperation in areas such as trade and regional stability. On the other hand, the increased economic resources flowing into Pakistan could also present significant risks for India for e.g., a more financially robust Pakistan might have greater capacity to fund militant groups and thus terrorist activities in India.

Impact on Other Oil-Producing Countries (Saudi Arabia, Iran, Russia, etc.): This discovery is likely to negatively affect these countries. With oil prices already declining and a shift toward renewable energy, an increase in supply from Pakistan could push prices even lower, reducing revenues for these oil-dependent nations.

Western Countries: Similar to China, this discovery could benefit Western Europe by providing an alternative to Middle Eastern oil. It could open up new investment opportunities, strengthen economic ties, and enhance trade relationships. For the U.S. and Canada, the impact remains uncertain. While they could gain from increased trade relationships, they might also face challenges from an oversupply of oil, given that both countries are significant exporters of hydrocarbons.

What do you think?

https://preview.redd.it/wgmr1n0txmxd1.jpg?width=1440&format=pjpg&auto=webp&s=6c56985dce9cc9e2d2bf3107535e3f1c80f6ac68

19 Comments
2024/10/29
05:57 UTC

9

QatarEnergy signs agreement with TotalEnergies to partner in a 1.25 GW solar project in Iraq

QatarEnergy announced in a statement that it has signed a partnership agreement with TotalEnergies to enter into a solar power project that is part of the Gas Growth Integrated Project (GGIP) in the Republic of Iraq.

https://www.saudigulfprojects.com/2024/10/qatarenergy-signs-agreement-with-totalenergies-to-partner-in-a-1-25-gw-solar-project-in-iraq/

1 Comment
2024/10/28
15:28 UTC

1

Which presidential candidate will be better for oil stocks?

Trumps rhetoric for "Drill baby drill" and claims of reducing gas prices

Harris's EV friendly policies and the "inflation reduction act"

Israel, Iran, Saudis, OPEC, Russia, Ukraine, China foreign policies.

Which presidential candidate will be better for oil prices?

263 Comments
2024/10/27
19:09 UTC

25

Oil Price Outlook - Middle East Escalation

After the retaliation strike from Israel on Iran, how do you think the market will respond to oil next week? I heard calls on futures are comparable to the initial ukraine-russia invasion. I predict Iran will hit back and then Israel will hit Iran’s oil facilities and prices will soar. What’s your prediction?

53 Comments
2024/10/26
18:23 UTC

20

tiny oil leases and royalty checks

Long story short - My grandfather bequeathed some oil leases to my mother and her 10 siblings back in the late 1960s. She died in 2010. My dad always dealt with it. He died in 2024 and I don't know what the heck to do with these things. (I'm a co-executor of HIS estate) Her estate would receive teeny tiny checks on occasion, like $2 or $1 or some such number that was not worth bothering with so we pretty much never deposited them or anything. Now I just want to get rid of the damn leases. I have no idea where to start. Thanks in advance for any info.

16 Comments
2024/10/25
00:24 UTC

1

LP Export Infrastructure 2025

Hey,

Does anyone know about the new infrastructure that will be build in 2025/2026 to increase LP exports to over 2,000 kb/day

0 Comments
2024/10/24
21:22 UTC

0

Truth behind crude oil

I know that crude oil is not from “fossil fuels” that name was only given to promote scarcity. I have read previous articles about this fact but I cannot seem to find them. Could anyone help me find these articles?

4 Comments
2024/10/24
16:52 UTC

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