You can see our analysis of this week’s Energy Information Administration oil report at this link.
By News Desk | August 27, 2014 02:11 PM Comments (0)
By News Desk | August 27, 2014 09:49 AM Comments (0)
By David Elward | August 27, 2014 12:01 AM Comments (0)
It’s not every day an asset of strategic importance to the UK’s oil infrastructure is put on the market. Even less frequently will that asset come with a portfolio of clients including the UK Ministry of Defence, the US Air Force, oil majors and one of the largest international trading houses.
The sale of the Government Pipeline and Storage System, which supplies London’s Heathrow airport with aviation fuel, offers one such opportunity.
By J Robinson | August 26, 2014 12:01 AM Comments (1)
On March 11, 2011, a magnitude 9.0 earthquake and tsunami devastated a large portion of Japan’s eastern coastline killing nearly 16,000 people and causing infrastructure damage estimated at more than $225 billion. The consequent nuclear disaster at the Fukushima Power Plant ultimately resulted in the closure of all of Japan’s nearly 50 nuclear reactors.
In a move to compensate for lost electric generation capacity, Japanese imports of LNG jumped nearly 23% to 86.7 million mt during the 2012-2013 fiscal year, up from imports that totaled 70.6 million mt during the fiscal year just prior to the disaster.
The precipitous jump in demand for LNG from post-Fukushima Japan changed the global gas market irrevocably. Since March 2011, spot Asian gas prices have averaged roughly $15.65/MMBtu compared to prices that trended around $7.00/MMBtu during the two-year period from 2009-2011.
By Chris Kraul | August 25, 2014 12:01 AM Comments (0)
By Joshua Brown | August 21, 2014 12:00 PM Comments (1)
A few miles east of Texas State Highway 19, a conspicuous circle of valves, gauges and metal tanks sits in the middle of lush, green farm land. This property, owned by one family for almost two centuries, has become one of the latest stakes claimed by an industry that has already found great success with similar sites across Texas.
Behind the wheel of a bright red truck, on the way to town to see her grandchildren, Susan, the landowner, smiles and shakes her head.
“They say we live on an oil field,” she says. “I say we live on a ranch.”
By News Desk | August 20, 2014 02:10 PM Comments (0)
US Gulf Coast refineries operated at a record rate last week, according to the Energy Information Administration. You can see our analysis of the latest numbers here.
By Lisa Miller | August 19, 2014 04:03 PM Comments (1)
Since I’m based in California and work the last US shift of the day with the Platts Central Editing Desk, it falls to me to watch for possible news items as the sun rolls out of the American sky and into Asia.
So nearly every evening, unless I’m so flat out with other work that I can’t, I troll Google to see if something wild has happened in the commodities world that I ought to cover for us.
This has me regularly searching for words such as “spill” and “explosion” and “fire.”
(And yes, I am absolutely expecting Homeland Security to come to my place any day now. It will be interesting to see how my company’s bean counters respond when they see the bail bond charge on my expense bill.)
By James Bourne | August 18, 2014 12:01 AM Comments (1)