Expect the promised benefits of natural gas to really begin hitting the North American economy in the second half of this decade, said Chevron Vice President of Supply and Trading Greg Vesey at the North American Gas Forum in Washington, DC this week. It will take two to three years to complete construction of manufacturing… Keep reading →
BP and the US federal government are at odds over how much oil was actually spilled into the Gulf of Mexico as a result of the Deepwater Horizon incident in 2010: BP says 2.45 million barrels, the US government says 4.2 MM bbl. “Clean Water Act fines…range from a maximum of $1,100 for every barrel… Keep reading →
Investment bank Raymond James has updated its US oil and natural gas liquids production forecast, with new estimates suggesting that the country could produce enough oil to satisfy domestic demand in less than ten years’ time. “The U.S. could easily be approaching the ‘holy grail’ of net oil ‘energy independence’ toward the end of the… Keep reading →
An article published Saturday in the International Business Times points out two important links in the oil trading business: the link between a US credit downgrade or debt default and the value of the US dollar, and the link between the value of the US dollar and the price of a barrel of oil. “A… Keep reading →
European Union countries’ ongoing drive to increase natural gas supply diversity – and lessen reliance on Russia – hinges on new pipeline projects, particularly the Southern Gas Corridor that would transport gas from the Azerbaijan to the European continent. During the recent Caspian Forum held in New York City, EU Special Representative for Central Asia,… Keep reading →
Shell has selected Louisiana’s Ascension Parish as the potential site for its Gulf Coast natural gas-to-liquids facility. On September 24, 2013, Louisiana Governor Bobby Jindal and Royal Dutch Shell announced selection of Louisiana’s Ascension Parish as the site for a proposed Gulf Coast natural gas-to-liquids (GTL) plant, a cost of least $12.5 billion. Shell will also fund… Keep reading →
As global natural gas fundamentals shift – with Asian demand expected to significantly increase, the US importing less and exporting more – European countries seek secure and reliable long-term supply from a diverse group of producers. An ambitious pipeline project dubbed the Southern Gas Corridor is part of that vision. European utilities have successfully renegotiated… Keep reading →
The Interior Department held a live online chat with Secretary Sally Jewell yesterday in advance of National Public Lands Day on September 28. Naturally, questions arose about how the Department manages competing calls to use public lands to generate more domestic energy, and to keep energy development off of public lands. Secretary Jewell suggested that… Keep reading →
Russia has charged Greenpeace activists with piracy for trying to climb onto a Gazprom drilling platform in the Arctic. The charges “carry a potential prison sentence of up to 15 years and a fine of 500,000 rubles (about $15,500)”. [Fuel Fix] China’s National Development and Reform Commission has said that both consumers and refiners will need… Keep reading →
Forget Syria, Here’s a Real Oil Market Supply Concern
By Jared AndersonIt made for great headlines, but the Syrian conflict never posed a serious risk to global oil supplies. Syria’s domestic production has dwindled and civil war ground exports down to virtually nothing last year. Escalating violence in Egypt, however, presents much more serious global oil market risk. Insurgents displeased with the ouster of Muslim Brotherhood… Keep reading →