U.S./World=6
The oil and gas industry is currently grappling with fears of both oversupply and weakened demand. Demand side weakness is tied to tariffs, strength of the dollar, and a slow but apparently inexorable increase of market share for renewables and green alternatives to the traditional hydrocarbon supply of needed global BTUs. Increasing supplies of power […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – August 12, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted an increase of 2.4 MMBbl last week, according to the weekly EIA report. Gasoline inventories increased 4.4 MMBbl, while distillate inventories increased 1.5 MMBbl. With all these increases, total petroleum inventories posted a large build of 10.4 MMBbl. US crude oil production increased 100 MBbl/d, while crude […]
Small Change in OCC – Big Impact on Aggressive Smaller Companies’ MO
Oklahoma SCOOP is one of the hottest drilling fairways in the U.S. On Aug. 1, an Oklahoma Corporation Commission (OCC) regulation that will change the way aggressive—usually smaller—companies often leverage their way into larger companies’ drilling units went into effect. This new change is found in Title 165 (Oklahoma Statutes), Chapter 5-13-3 (d) and provides […]
Chinese Government Lifts Restrictions for Foreign Companies to Acquire Oil & Gas Blocks
Chinese Government Lifts Restrictions For Foreign Companies To Acquire Oil & Gas Blocks The Chinese Government announced the lifting of a series of restrictions on foreign investment on June 30, 2019, with the new policies becoming effective July 30, 2019. Two of the key oil & gas restrictions lifted are foreign direct investment in the […]
Prices Rally on Bullish Storage Release
[contextly_auto_sidebar] Natural gas storage inventories increased 55 Bcf for the week ending August 2, according to the EIA’s weekly report. This is below the market expectation, which was an injection of 61 Bcf. Working gas storage inventories now sit at 2.689 Tcf, which is 343 Bcf above inventories from the same time last year and […]
Prices Fell Sharply Due to Bearish Inventory Report and Concerns on Global Economic Growth
[contextly_auto_sidebar] US crude oil stocks posted a increase of 2.4 MMBbl from last week. Gasoline and distillate inventories increased by 4.4 MMBbl and 1.5 MMBbl, respectively. Yesterday afternoon, API reported a crude oil draw of 3.4 MMBbl, while reporting a gasoline draw of 1.1 MMBbl and a distillate build of 1.2 MMBbl. Analysts were expecting […]
Permian Continues to Test the Limits of America’s Existing Midstream and Downstream Infrastructure
August 7, 2019
The Week Ahead For Crude Oil, Gas and NGLs Markets – August 5, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted a decrease of 8.5 MMBbl last week, according to the weekly EIA report. Gasoline inventories decreased 1.8 MMBbl, while distillate inventories decreased 0.9 MMBbl/d. With the draw in crude inventories, total petroleum inventories posted a significant decrease of 10.1 MMBbl. US crude oil production increased 900 MBbl/d […]
TETCO Explosion Causes Price Rally, Bearish Inventory Release Counters
[contextly_auto_sidebar] Natural gas storage inventories increased 65 Bcf for the week ending July 26, according to the EIA’s weekly report. This is slightly above the market expectation, which was an injection of 60 Bcf. Working gas storage inventories now sit at 2.634 Tcf, which is 334 Bcf above inventories from the same time last year […]
ConocoPhillips Buys into Vaca Muerta
What You Need to Know On July 25, 2019, Neuquen province governor, Omar Gutierrez, confirmed the arrival of ConocoPhillips into Vaca Muerta development in the Bandurria Norte and Aguada Federal blocks, both operated by the German company Wintershall Dea. Wintershall announced it has signed a sales and purchase agreement with ConocoPhillips where Wintershall will continue […]