Former Energy Secretary Spencer Abraham notes how rise in U.S. output, reaction by OPEC, contrast sharply with previous cycles.
The move, or lack thereof, could mean continued pressure on oil prices—at least for the first-half of the year, analysts say.
While an enormous supply growth from the U.S., compounded by a massive competitive surge from OPEC, have been primary culprits behind the oil-price collapse little attention has been given to the demand side of the equation.
How is buying gasoline like voting? The price of one usually predicts the outcome of the other, according to a leading Washington, D.C., policy strategist.
As uncertainties abound in the crude market, it’s likely that gas and liquids markets could experience more volatility.
There is growing sentiment that the market has decided enough is enough and decided to set a floor for crude prices.
Commodity prices continue to stutter with modest improvements, though a warm summer could spur a stronger back end of the year.
WTI prices improved this week after hitting a 12-year low, but challenges remain as Iranian crude re-enters the global market.
Valero first proposed building the rail facility at Benicia refinery to offload up to 70,000 barrels per day of inland U.S. and Canadian heavy crude three years ago, Reuters said.
Unusual sales of excess oil added pressure to March/April WTI futures spread, with front-month discount widening to $2.37 a barrel on Feb. 10, the most since November 2015, Reuters said.
In its industry benchmark 2035 Energy Outlook, BP forecast global demand for energy to increase by 34%, driven by growth in the world population and economy.
Firm transportation capacity can be acquired under minimum 10-year term agreements on the Howard Lateral and the Wolfcamp Connector expansion.
Key North American Hub Prices: Feb. 12, 2016
Key North American Hub Prices: Feb. 11, 2016
Controlling the flow of the leaking gas will involve pumping heavy fluids into the target well, and this will begin in the next few days.
At year-end 2015, Black Swan held more than 217,000 net acres of Montney land with more than 2,800 potential horizontal drilling locations. Black Swan has drilled 46 horizontal Montney wells.
The new facilities will receive sweet natural gas, remove water and hydrocarbons, chill and compress the gas to meet transmission pipeline requirements and recover NGL from the gas streams.
Hearing board of South Coast Air Quality Management District scheduled a fourth meeting for Jan. 23 to take more testimony on plan to siphon off and incinerate methane, Reuters said.
Environmental groups noted Obama's pledge comes as his administration works on a new five-year plan for offshore oil and gas leases.
The approved export point is at the outlet of the loading arm of the natural gas liquefaction terminal that will be built near Kitimat, British Columbia.
OPIS, the most complete source for U.S. refined petroleum pricing data, news and analytics for the downstream market, will remain based in Gaithersburg, Md.
Facility stores more than 6 million barrels of gasoline, ethanol, middle distillates, biodiesel, kerosene and LPG. Terminal assets are on the North Sea Canal in Amsterdam, Rotterdam and Antwerp region.
Petrochemicals diversification program will support construction of new facilities that use propane or methane as feedstock to produce materials for products including plastics, detergents and textiles, Reuters said.
About 160 former BP employees were included as part of the roughly-$350 million transaction. KMI will operate and market 14 of the terminals, which the joint venture will own.