Rising oil output in the US has already begun to alter the traditional price relationship between US and international crudes, and continued production growth could lead to a domestic glut of certain grades, adding to pressure to lift restrictions on crude exports. The stunning turnaround in the US’ oil fortunes has made plenty of headlines,… Keep reading →
It’s hard to find a good quote when nobody’s talking. In this developing story, several Chinese national oil company employees – some fairly high ranking including CNPC’s chief accountant – have been “summoned to assist in an investigation,” according to Chinese news reports. It appears the wide-ranging government investigation that has been underway for months… Keep reading →
US natural gas prices fell sharply in 2008, from more than $10 per thousand cubic feet in July to less than $6/mcf at year-end, and have since fallen much further. The average US natural gas wellhead price fell from $7.97/mcf in 2008 to $3.67/mcf the following year, and to just $2.66/mcf in 2012, after an… Keep reading →
As Wall Street retreats from the energy trading business new players like major oil companies, utilities and other corporate enterprises are taking large chunks of the energy derivative and price hedging market. “With Wall Street hamstrung by growing regulatory restrictions, a recently finalized ban on proprietary trading and increased capital requirements, these corporate behemoths are… Keep reading →
The oil and gas industry often bemoans the inefficiencies, permitting delays and duplicated efforts it says result from overlapping regulations at local, state and federal levels. Energy companies are now getting some help addressing this issue from 10 US state governors – who preside over the lion’s share of US oil and gas production –… Keep reading →
Mexican lawmakers have passed an energy reform bill that will open up the country’s oil and gas resources to foreign investment, ending a 75-year monopoly by state-controlled Pemex. According to the Wall Street Journal, the voting process involved both fistfights and accusations of treason. [Wall Street Journal] Plans for the 99-story Pertamina Energy Tower, to… Keep reading →
The US Defense Logistics Agency yesterday announced a slew of major contracts for the purchase of jet fuel. The contracts are valid through April 30th 2015 and the money will come from fiscal 2014 defense working capital funds. Fifteen different companies – ranging from the world’s largest international oil companies including supermajors ExxonMobil and Shell… Keep reading →
Integrating renewables into the oil and gas industry has become more common especially as the industry turns to production from heavy crude. Outside of the United States, natural gas is not cheap and abundant and so the oil industry’s reliance on power generated from natural gas places limitation on growth. GlassPoint, a company with solar… Keep reading →
Intensified competition between Russian gas giant Gazprom and Russian gas independent Novatek is showcasing the advantages to producers of LNG pricing flexibility, according to Eurasia Group Global Energy and Natural Resources analyst Leslie Palti-Guzman. Natural gas analysts frequently point out that there are three different pricing regions for gas – North America, Europe and Asia.… Keep reading →
Opinion: Shale Gas A Boon to Public Health
By Dana BohanYou’ve probably heard that the United States is experiencing an unprecedented energy boom that is transforming our economy, enhancing our energy security, and creating a manufacturing renaissance — all thanks to hydraulic fracturing and the development of America’s massive oil and natural gas resources. But what you probably haven’t heard is that shale development has… Keep reading →