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PRLog (Press Release) – Jun. 24, 2014 – HOUSTON — President of Fossil Oil Company LLC, Dennis R. Kittler, has been awarded the Lifetime Achievement Award.
Fossil Oil Company, LLC is an independent oil and gas investment, exploration and production company, with top management collectively bringing more than 130 years of experience to generating oil and gas drilling investments and managing their operations from drilling through production
Reposted from OilPro.com Forum: 6/23/14
I recently wrote about this, and indeed, speculation on the Iraqi situation drove oil prices about 5-6% higher in a matter of days as the ISIS attacks played out.
To answer your question now, you need to know how bad it is going to get in Iraq. Speculators feed on headlines. If the headlines in Iraq get worse, oil prices get bid up. If the headlines in Iraq get better, oil prices will come down.
This morning, headlines in Iraq are getting better. Reports suggest that Iraqi forces regained control of a key Syria/Jordan border crossing (Al Waleed). It was previously thought that ISIS fighters had seized the borders. Also, the fighting hasn’t spread to the south, where 3/4ths of Iraq oil production lies.
So for now, it looks like the speculators are taking their profits, and that means selling oil which will take the price down. And, in fact, Brent prices are falling this morning (from nine-month highs) as the speculators sell. So to answer your question: for now, no, the speculators are not driving oil prices up anymore on Iraq. But who knows what headlines tomorrow will bring. The beauty in the commodity markets is there is always something to speculate on.
WASHINGTON, DC, June 19 – 06/19/2014 – By Nick Snow – OGJ Washington Editor
Combined with expected rising global demand during this year’s second half, the loss of even one third of Iraq’s total production could trigger such a worldwide crude price increase, the June 17 issue brief said. It noted that exports from Iraq’s Kurdish north, which were as high as 209,000 b/d in 2009, effectively ceased on Mar. 2, contributing to 3 million b/d of total global supply outages. Continue reading →
HOUSTON June 11, 2014 — Fossil Oil Company LLC has been selected for the 2014 Houston Award in the Oil and Gas Investments category by the Houston Award Program for the third consecutive year.
Each year, the Houston Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Houston area a great place to live, work and play. Continue reading →
Domestic natural gas production rates in the United States have reached all-time highs, so much so that importation of this non-renewable resource as well as oil may soon be non-existent. There is a prevailing belief that the bulk of America’s energy needs are being met by external resources, a falsity which strikes uncertainty in the minds of many for various political and economic reasons.
Contrary to popular belief, the U.S. has already demonstrated its ability to be a natural gas production global powerhouse, and many industry experts agree it could soon be the world’s top exporter. The United States’ domestic economy has grown significantly on account of these operations alone, north of $500 billion by some estimates!
The pervading perception that the domestic oil and natural gas economy is currently in a state of flux could not be farther from the truth, and here is why. Continue reading →