Archive for March, 2017

OPEC supply cut compliance rises in March as UAE joins pact

OPEC supply cut compliance rises in March as UAE joins pact

OPEC supply cut compliance expected to reach 95 per cent Analysts anticipate OPEC members’ compliance with the cartel’s output reduction agreement to reach 95 per cent in March as the United Arab Emirates cut output this month and production disruptions in Nigeria and Libya, countries exempted from the OPEC supply cut pact. A Reuters survey showed the […]

By March 29, 2017 0 Comments Read More →
US crude stocks build as products draw down: EIA

US crude stocks build as products draw down: EIA

US crude stocks up by 867,000 barrels US crude stocks rose less than anticipated last week while gasoline and distillate inventories fell, according to the weekly report issued by the Energy Information Administration. The EIA reported crude inventories rose 867,000 barrels in the week ending March 24, lower than analysts’ expectations of 1.4 million barrels. […]

By March 29, 2017 0 Comments Read More →
US coal power generation rises during 2016 H2 as natural gas prices go up

US coal power generation rises during 2016 H2 as natural gas prices go up

Electricity generation accounts for over 90%of domestic coal use After falling in six out of seven quarters from mid-2014 to mid-2016, coal production rose in the third and fourth quarters of 2016, according to the US Energy Information Administration. Among the coal supply regions, the Powder River Basin in Montana and Wyoming saw the largest increases […]

Oil prices and optimism boosted, US crude inventories up less than expected

Oil prices and optimism boosted, US crude inventories up less than expected

Oil prices up 2 per cent Wednesday Oil prices rose in trading on Wednesday after reports showed US crude inventories rose less than expected, Libyan supply disruptions continued and the OPEC supply cut deal extension looked as if it would likely be extended. In the weekly report issued by the US Energy Information Administration on crude inventories, the […]

By March 29, 2017 0 Comments Read More →
Trudeau govt change to Canadian Exploration Expense is bad news for oil patch

Trudeau govt change to Canadian Exploration Expense is bad news for oil patch

Alberta Premier Rachel Notley should spend political capital with PM Justin Trudeau to reverse Canadian Exploration Expense change Big Oil is everyone’s favourite punching bag, but when they’re right, they’re right. And this time they’re right about changes in the federal budget to the Canadian Exploration Expense that will make it more difficult Alberta for exploration and production […]

Total Energy acquires majority of Savanna shares in hostile takeover bid

Total Energy acquires majority of Savanna shares in hostile takeover bid

Total Offer is scheduled to expire at 12:00 PM (Pacific time) on April 7, 2017 Total Energy Services Inc. says that on March 24, 2017 it acquired a majority of the outstanding common shares of Savanna Energy Services Corp., according to a company press release. The process for Total Energy to acquire additional common shares of […]

Growing global LNG trade could support market hub development in Asia

Growing global LNG trade could support market hub development in Asia

 LNG-based hubs present a number of challenges compared to pipeline-based hubs Asia is the world’s largest consumer of liquefied natural gas (LNG), accounting for three-quarters of global LNG trade and one-third of total global natural gas trade, according to the US Energy Information Administration. However, the region lacks a pricing benchmark that can reliably reflect […]

Opinion: Goldman Sachs takes on the Brent spreads

Opinion: Goldman Sachs takes on the Brent spreads

Goldman Sachs says rebalancing of oil market “making progress” By John Kemp LONDON, March 28 (Reuters) – Progress towards oil-market rebalancing and the need for an extension of production cuts by OPEC and non-OPEC countries has become the most contentious issue in the oil market. “We believe that the rebalancing of the oil market is in […]

By March 28, 2017 0 Comments Read More →
Trump to reverse Obama’s ban on new federal coal leases, but industry awash in coal

Trump to reverse Obama’s ban on new federal coal leases, but industry awash in coal

Many companies have enough coal leases to last well over a decade On Tuesday, the Trump administration will sign a decree to reverse former President Obama’s 2016 ban on new federal coal leases as part of the government’s move to reduce green regulations Trump says have hobbled drilling and mining industries. “When we evaluate energy, […]

By March 28, 2017 0 Comments Read More →
Armed protests cut Libyan oil production by 252,000 b/d

Armed protests cut Libyan oil production by 252,000 b/d

Stoppage threatens Libyan oil production revival Libyan oil production from two of the country’s western oilfields was blocked by armed protesters, reducing the struggling country’s output by 252,000 b/d, a source at the National Oil Corporation told Reuters on Tuesday. As a result, NOC declared a force majeure on Sharara crude loadings from the Zawiya oil […]

By March 28, 2017 0 Comments Read More →