Archive for April, 2017
Is LNG or pipeline gas more carbon-intensive? The answer may surprise you
LNG accounts for only 10 per cent of total natural gas traded across the globe, yet its rate of growth is almost twice as fast as pipeline gas, making it an important part of the portfolios of major oil and gas companies, according to analysis from Wood Mackenzie. But while the process of piping natural gas to […]
Alberta oil sands: Economic boondoggle or engine of the Canadian economy?
2016 to 2036 Alberta govt will receive $676 billion from oil sands royalties, $245 billion from taxes To an Albertan, suggesting the oil sands might be an “economic boondoggle” is like arguing the Earth is flat – evidence to the contrary is just too overwhelming. But on May 2 I will be debating Green Party of […]
Marathon Petroleum posts Q1 profit on rising refining margins
Marathon Petroleum shares up in trading Thursday Marathon Petroleum posted a Q1 profit on Thursday thanks to a jump of 18 per cent in refining margins and despite difficult market conditions. Marathon’s shares were up as much as 4.1 per cent to $51.62 in trading on Thursday morning. Chief Executive Gary Heminger said market conditions in […]
Oil prices fall after Libyan oilfields restart
Oil prices down over 1 per cent Oil prices fell over one per cent in trading on Thursday after it was reported that two key Libyan oilfields began pumping crude after pipeline protests in the African nation were shut down. Brent crude fell $1.22/barrel to $51.17 by 1:20 p.m. EDT and US light crude was […]
Texas oil and gas production statistics for February 2017
Texas production in Feb. 2017 came from 169,008 oil wells and 89,918 gas wells Production for Feb. 2017 as reported to the Railroad Commission of Texas is 70,332,051 barrels of crude oil and 527,710,713 mcf (thousand cubic feet) of total gas from oil and gas wells. These preliminary figures are based on production volumes reported […]
Trump coal boost no match for cheap natural gas
Coal demand dropped as utilities switched to natural gas The top executive of Union Pacific Corp told Reuters that US President Trump’s executive order to boost the coal industry by rolling back power-plant emissions standards will likely have much less impact than the market than the cost of natural gas. Chief Executive Lance Fritz told Reuters […]
OPEC looking for consensus on decreasing oil glut
OPEC meeting in May to discuss extending supply cut pact OPEC Secretary General Mohammad Barkindo says influential members of the cartel, including Saudi Arabia, are working to ensure an agreement to extend the supply cut pact is reached when the group meets in Vienna late next month. Originally, the Organization of Petroleum Exporting Countries along […]
US shale oil rebound shakes OPEC
How low can the costs of US shale oil production go? By Ross McCracken, Platt’s Managing editor, Energy Economist Even with oil prices hovering around the $50/b mark, the US rig count has increased rapidly while E&P companies continue to record substantial reductions in well drilling costs. The increase in new well oil production per rig […]
Minister Carr launches ‘Generation Energy’ dialogue for Canadian energy path
Information will be used to design an approach focused on innovation, jobs and affordable energy Energy plays an important role in the daily lives of Canadians. It powers our homes, keeps us connected and takes us where we want to go, according to Minister of Natural Resources Jim Carr in a press release. The way Canada delivers […]
Bakken crude ships to Asia for the first time, more after DAPL complete
Bakken crude shipped from Louisiana port The first shipment of Bakken crude to Asia left a Louisiana port late last month, which is expected to be the first of many cargoes once the Dakota Access Pipeline starts transporting oil in May. According to shipping documents seen by Reuters, Swiss-based Mercuria Energy Trading S.A. loaded over […]
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