Archive for September, 2017

Global LNG market balancing dynamics in 2017 – McKinsey

Global LNG market balancing dynamics in 2017 – McKinsey

LNG market in 2017 is clearing thanks to higher demand By Nafie Bakkali, McKinsey In the upcoming years, the growth in LNG supply already under construction is forecast to create a long market. Unlike oil and refined products, LNG storage is not economical because of the boil-off of the gas. Thus, the market must balance […]

By September 24, 2017 0 Comments Read More →
Commentary: Looking for balance in the oil market

Commentary: Looking for balance in the oil market

By Kristine Petrosyan, Oil Market Analyst, International Energy Agency There is more than one way to look at oil-market balances. The IEA uses a straightforward approach: supply minus demand, which we report in the monthly Oil Market Report as “Total stock changes and Miscellaneous.” Part of the calculation can be easily explained by changes in OECD stocks, […]

By September 23, 2017 0 Comments Read More →
Column: US heating oil market looks tight this winter

Column: US heating oil market looks tight this winter

Hedge funds amassed a net long position in heating oil futures, options equivalent to 46 million barrels By John Kemp LONDON, Sept 22 (Reuters) – US stocks of distillate fuel oil, which have been trending downwards all year, now look tight following disruption to major refineries caused by Hurricane Harvey. The position is a marked […]

By September 22, 2017 0 Comments Read More →
Mild hybrids quick fix for carmakers squeezed by CO2 cuts

Mild hybrids quick fix for carmakers squeezed by CO2 cuts

Mild hybrids add electric power to gasoline engines, without costly redesign Automakers looking to cut carbon emissions are turning to mild hybrids, which add some electric power to existing gasoline-powered engines without a costly redesign and cut CO2 emissions. Stricter government regulations as well as dieselgate, VW’s test-cheating scandal, have been a major drivers for […]

By September 22, 2017 0 Comments Read More →
Canada one of fastest growing developed economies this year -CBOC

Canada one of fastest growing developed economies this year -CBOC

Exports expected to increase 2.3%, fueled mainly by soaring energy exports With strong economic growth in the first half of the year, the Canadian economy is expected to grow by an impressive 3.1 per cent in 2017, according to The Conference Board of Canada’s Canadian Outlook Bulletin: Autumn 2017. “Canada’s economy continues to perform well above […]

By September 22, 2017 0 Comments Read More →
OPEC defers deal extension decision, oil prices up

OPEC defers deal extension decision, oil prices up

Oil prices remain close to highest levels in months In trading on Friday, oil prices were mixed but remained close to their highest levels in months after OPEC announced participants in its supply cut pact may wait until January to decide if they will extend the deal beyond March. Benchmark Brent closed up 43 cents […]

By September 22, 2017 0 Comments Read More →
Quebec government publishes draft oil and gas regulations

Quebec government publishes draft oil and gas regulations

Quebec-based companies preparing to expand oil and gas exploration The Quebec government has set out new regulations for oil and gas development in the province and industry is praising the approach, which it says balances development with high standards of environmental protection. The Petroleum Resources Act replaces the Quebec Mining Act. No date has yet been set for […]

By September 22, 2017 0 Comments Read More →
British Columbia to raise carbon tax by $5 annually, will be $50 a tonne by 2021

British Columbia to raise carbon tax by $5 annually, will be $50 a tonne by 2021

Tax rate on electricity reduced to 3.5% from 7% The BC government announced effective April 1, 2018, the carbon tax rates are increased by $5 per tonne of carbon dioxide equivalent emissions until April 1, 2021 and rates are $50 per tonne, according to a press release. Also announced was that the tax rate on […]

By September 22, 2017 0 Comments Read More →
B.C. economy expected to slow in 2018

B.C. economy expected to slow in 2018

CPAs say recent wildfires will have long-term economic impact According to the BC Check-Up, an annual economic report released by the Chartered Professional Accountants of British Columbia (CPABC), provincial GDP is forecasted to 2.9 per cent in 2017, and 2.0 per cent in 2018. “B.C.’s strong economy continued to attract residents last year, and the […]

By September 22, 2017 0 Comments Read More →
Hurricanes Harvey and Irma lead to higher gasoline prices in Florida

Hurricanes Harvey and Irma lead to higher gasoline prices in Florida

Evacuations of large population centers preceding the hurricane increased gasoline purchases Hurricane Irma significantly disrupted gasoline markets in Florida, first by prompting increased demand and then by disrupting the supply chain needed to deliver the fuel, according to the U.S. Energy Information Administration. The evacuation of people in anticipation of Hurricane Irma led to higher […]

By September 22, 2017 0 Comments Read More →