Wood Mac report concludes that costs, not Russian production, will determine success of U.S. LNG exports.
Robust exports, along with reduced production of propane, propels hypothetical NGL barrel to highest price since early May 2015.
How the industry ‘gets out of this mess’ will require addressing financial issues and carefully allocating capital. Opportunities remain.
Contentious in its inner politics and opaque in its intentions, OPEC nonetheless remains the key to oil prices.
NGL prices slip from last week’s high as the storage crunch eases and the energy industry awaits the long-term impact of massive wildfire in western Canada.
Led by propane, all components move up except for ethane; storage passes 2.6 Tcf.
Crude and NGL prices hit their highs for 2016, but can this trend continue? Undoubtedly it’s a positive for the oil and gas industry to see crude prices improve, but the key aspect to a possible resurgence is what happens when prices improve above $50/bbl.
Heavy bitumen in oil sands is not flammable, but facilities and people inside are at risk. Travis Fairweather, Alberta wildfire information officer, said forest fires are measured by “head fire intensity,” Reuters reported.
As E&Ps become more efficient at finding ways to grow production, the midstream sector is getting ready to handle what comes its way when commodity prices rise by improving infrastructure.
Municipal authorities for the oil town said a "phased re-entry" was authorized for the remaining camps, including those for Suncor Energy's Baseline and MacKay River camps north of the fire-ravaged oil town of Fort McMurray.
The sharp drop in oil prices over the past two years has led companies including ExxonMobil and Royal Dutch Shell to sharply reduce budgets, particularly for exploration.
Key North American Hub Prices: May 23, 2016
Oil markets will rebalance in the near term, but natural gas imbalances will be much longer-term, the long-time oil and gas executive told the recent Houston Producers Forum.
Key North American Hub Prices: May 20, 2016
The system also has low-pressure gathering and transportation assets, and three storage terminals near Pecos, Crane and Midland, Texas. These terminals have in-service capacity for 150,000 barrels of oil.
Successful first year of operations proves the commercial viability of Siluria Technologies' oxidative coupling of methane-to-ethylene technology.
The 400-mile (644-km) pipeline transports petroleum products from Blaine, Washington to Portland, Ore.
According to CFO Mosaed al-Ohali, although SABIC will focus on its main chemicals products, it is considering coal-to-chemicals in China and also oil-to-chemicals operations, Reuters reported.
Up to May 2, Valero's New York-listed shares have fallen 15.4% this year, while Standard & Poor's 500 index oil and gas refining and marketing sub-index fell 13.3%, Reuters said.