Author Archive: Jude Hislop

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Brent, WTI crude oil prices to average $50 per barrel through 2018

Brent, WTI crude oil prices to average $50 per barrel through 2018

Without further OPEC agreement, EIA expects lower prices in 2018 than forecast Brent crude oil spot prices to average $51/b in 2017 and $52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be $2/b lower than Brent prices in 2017 and 2018, according to the U.S. Energy Information Administration. Daily and […]

Global oil and gas investment drops for 2nd straight year – IEA

Global oil and gas investment drops for 2nd straight year – IEA

Energy R&D is split about evenly between private money and public funding Global energy investment fell by 12 per cent in 2016, the second consecutive year of decline, as increased spending on energy efficiency and electricity networks was more than offset by a continued drop in upstream oil and gas spending, according to the International […]

Global gas demand rising to 2022 as US drives transformation – IEA

Global gas demand rising to 2022 as US drives transformation – IEA

Intense competition loosening pricing and contractual rigidities that characterize long-distance gas trade The global natural gas market is undergoing a major transformation driven by new supplies coming from the United States to meet growing demand in developing economies and industry surpasses the power sector as the largest source of gas demand growth, according to the […]

5 reasons US could be world’s top LNG exporter sooner rather than later

5 reasons US could be world’s top LNG exporter sooner rather than later

Challenge is how to get LNG out of US and into global markets By Seth Whitehead, EnergyInDepth Last month, EID highlighted how the U.S. has become a major liquefied natural gas (LNG) exporter virtually overnight. The trend has certainly continued. In the 17 short months since the first shipment of U.S. LNG departed Cheniere Energy’s Sabine Pass […]

Texas drilling permits and completions statistics for June 2017

Texas drilling permits and completions statistics for June 2017

Texas rig count as of July 7 was 463, 49% of all active rigs in U.S. The Railroad Commission of Texas (Commission) issued a total of 1,305 original drilling permits in June 2017 compared to 656 in 2016, according to a press release. The June total included 1,131 permits to drill new oil or gas […]

US oil and gas drilling sees 62% increase over 2016 levels

US oil and gas drilling sees 62% increase over 2016 levels

Growing well completion figures could lead to increase in U.S. oil production API today announced that estimated total wells drilled and completed in the second quarter of 2017 increased 62 per cent compared to the second quarter of 2016, according to a press release. This includes a 41 per cent increase in estimated development gas […]

$50 million challenge for Alberta innovators to reduce oil sands GHG emissions by 2030

$50 million challenge for Alberta innovators to reduce oil sands GHG emissions by 2030

ERA has committed $340 million in funding to over 120 projects Oil sands innovators who can help industry reduce greenhouse gas emissions and increase the cost competitiveness of bitumen production can now access $50 million through the Emissions Reduction Alberta (ERA) Oil Sands Innovation Challenge, according to a press release. Funding proposal submissions are due […]

U.S. petroleum refinery capacity continues to increase

U.S. petroleum refinery capacity continues to increase

U.S. crude oil production 0.5 million b/d lower in 2016 than 2015 As of Jan. 1, 2017, U.S. operable atmospheric crude distillation capacity reached 18.6 million barrels per calendar day (b/cd), 1.6 per cent higher than at the beginning of 2016, according to EIA’s annual Refinery Capacity Report. This increase in operable capacity was slightly lower than last […]

Alberta petrochemical demand for Western Canadian, US ethane at an all-time high

Alberta petrochemical demand for Western Canadian, US ethane at an all-time high

Alberta’s four petrochemical plants have total ethylene-producing capacity of 4.1 million tonnes per year Ethane is a natural gas liquid obtained as a by-product of natural gas processing and oil refining, according to a National Energy Board press release. Ethane is also the primary input for producing ethylene, a petrochemical used to manufacture plastics and […]

Corporate solar sector funding hits $4.6 billion in first half of 2017

Corporate solar sector funding hits $4.6 billion in first half of 2017

Solar public market funding in first half of 2017 increased to $934M versus $276M in 2016 Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and merger and acquisition activity for the solar sector in the first half and second quarter of 2017, according to a press release. Total […]