Archive for March, 2017
Opinion: US natural gas prices rise to limit summer power burn
Natural gas prices up as consumption, exports rise By John Kemp LONDON, March 31 (Reuters) – The U.S. gas market is looking a little tight despite another record warm winter that limited heating demand. Growing structural consumption from electric power producers as well as increasing exports are significantly changing the balance between supply and demand. […]
Chinese oil imports from Americas boosted as Middle East increases refining capacity
Chinese oil imports from US, Canada, Brazil reach all-time high in March Chinese oil imports from Brazil, Canada and the United States are expected to increase as the country’s largest crude buyer Sinopec, ensures crude supplies stability at a time when the Middle East is boosting its refining capacity and African producers are experiencing supply disruptions. […]
Rig count rises, US drillers add most oil rigs in a quarter since 2011 Q2: Baker Hughes
Oil rig count up by 10 to 662 The US rig count rose for the 11th straight week, according to the Baker Hughes weekly report. The quarterly increase in the count is the biggest since Q2, 2011 as energy companies boost spending on new production. According to the report, US drillers added 10 oil rigs […]
Total US energy production falls in 2016 after 6 years of increases
US gross energy imports increased 7% from 2015 to 2016 US primary energy production totaled 84.1 quadrillion British thermal units (Btu) in 2016, falling 4 per cent from the 2015 level, the first annual decline in US energy production since 2009, according to the US Energy Information Administration. The decline in production coincided with an increase […]
Oil prices struggle as US output outweighs OPEC deal optimism: Reuters poll
Oil prices not expected to hit $60/barrel until 2018 In a Reuters poll, oil analysts who are pessimistic that OPEC’s supply cut will offset the increase in US production, do not believe oil prices will reach $60/barrel until early 2018. The March poll of 32 economists shows analysts expect Brent crude to average $57.07/barrel, slightly lower […]
Oil prices fall as three-day rally runs out of steam
Oil prices gained earlier in the week on optimism about OPEC deal extension After three days of gains, oil prices fell in trading on Friday as investors concerned about the oversupply of crude after an updated rig count data from Baker Hughes showed US production is continuing to grow, adding to the global crude glut. In Q1, prices were […]
Revival of deepwater industry: best projects closing gap on shale oil
In a capital-constrained world, fewer operators means less deepwater projects flowing through to sanction According to a recent Wood Mackenzie report, a leaner and more cost-competitive deepwater industry is emerging from the downturn, with the most attractive projects now competing with US tight oil plays. 2017 will see a noticeable pick-up in deepwater project sanctions, […]
Wall, Notley, Alberta conservatives make for a helluva political threesome
Notley uses Wall as a proxy for Alberta conservatives, Wall uses Notley as a proxy for Saskatchewan NDP Shall we call it “Alberta Ménage à Trois”? The parties to this political love triangle are Saskatchewan Premier Brad Wall, the Alberta conservative parties (Wildrose, PCAA), and Premier Rachel Notley – and the sniping and bickering between them is worthy […]
Bakken output set to rise as Dakota Access Pipeline opens
Bakken output will get to refineries, Gulf Coast customers cheaper North Dakota oil producers are expecting Bakken output to increase after the controversial Dakota Access Pipeline goes online next month. Reuters reports the North Dakota to central Illinois pipeline is expected to save the energy industry $540 million in annual shipping fees. These savings should help boost […]
Colorado court decision may imperil jobs, incomes, energy development
“When it comes to responsible energy development, Colorado has a record to be proud of, a proven tradition of responsible and safe energy development” By Aileen Yeung, EnergyInDepth Pressure is growing in Colorado to appeal a recent court decision that sided with activists seeking to undermine the state’s regulatory framework for oil and natural gas […]
Connect
Connect with us on the following social media platforms.