Moody’s lowers its outlook for global sector from ‘positive’ to ‘stable’ as spending cuts, reduced production cloud outlook for industry.
Midstream MLP distribution growth should remain strong through 2016 as midstream development catches up with U.S. production, analyst says.
Maynard Holt, the head of investment banking for Tudor, Pickering Holt & Co., sees reasons to be optimistic about future oil prices.
The likelihood that Brent will return to the mid-$70 per-barrel (bbl) range by 2016 looks increasingly imperiled, and with it, the prognosis for the most cash-strapped OPEC members is deteriorating.
Bearish sentiments in the commodities market were further increased as stock markets ride volatile wave.
After a surprise price resurgence earlier this season, crude and liquids have been dropping in value.
As the industry anxiously awaits demand to arrive, hydrocarbon storage is filling up.
Commodity prices remain challenged as markets await various demand factors to start to kick in.
Nexen estimates the shutdown process could take two weeks as it suspends pipeline operations and attempts to demonstrate to the Alberta Energy Regulator that its pipelines are safe, Reuters said.
Canexus Corp.’s North American Terminal Operations crude-by-rail transloading facility has connections to Cold Lake and Access crude oil pipeline systems, and links to Canadian Pacific and Canadian National rail lines.
The last time tanks in the logistically-important islands were this full, during the price collapse of 2009, companies started leasing vessels to use as floating storage, Reuters said.
Gennessee and Wyoming short-line railroad collects $5 a day on about 2,000 idle crude rail cars in Utah, the Midwest and Canada, Michael Miller, chief commercial officer, said, Reuters reported.
Key North American Hub Prices: Sept. 1, 2015
Separate study from IHS Global Insight on Sept. 1 said that eliminating export ban would stoke domestic production and support roughly 124,000 new jobs in next 15 years, Reuters said.
Pipeline’s initial capacity will be about 600,000 dekatherms per day of residue gas to the Waha Hub area, and could increase to 1.6 million dekatherms per day with added compression.
Key North American Hub Prices: August 31, 2015
Alliance declared force majeure on its 2,400-mile pipeline taking gas and NGL from western Canada and North Dakota to Chicago market after finding poisonous hydrogen sulfide, Reuters said.
Commodity prices continue their summer slump, but fall and winter should provide modest upticks.
Producers and operators are adjusting to new market dynamics as export demand replaces heating demand as the largest mover for propane prices.
The acquisition of private company RKI Exploration & Production adds 3,600 locations in the Permian Basin and continues WPX’s climb up in the oil producing ranks.
The largest distillation unit’s full capacity is 250,000 barrels per day, and BP did not specify when full capacity will be reached after the restart.
Natural resources contamination resulted from refineries in Bayonne and Linden, N.J., and elsewhere. Some surface water damages claims can still be pursued, said John Hoffman, acting attorney general, Reuters said.
An open season for the pipeline was completed, and the transportation services agreements allow engineering and construction to move forward. The project is scheduled to be completed in second-half 2016.
Isobutanol burns with less corrosion, holds more of gasoline's energy content allowing longer travel, is cheaper to blend with gas, and is compatible with the current petroleum infrastructure.