Dubai’s national oil company considers expanding upstream presence: Petrodollars

Many have been waiting for mergers and acquisitions— particularly in E&P sectors — to pick up in light of low oil prices, and one case of a downstream-focused company considering acquiring an oil producer caught the attention of Tamsin Carlisle in this week’s Oilgram News column, Petrodollars.

Read the rest of this entry »

Coal may burn bright, but which Asian market has the lights left on?

If you are a coal producer focused on the Chinese market, I am sure you will be scratching your head thinking about the future. Ever since China started imposing restrictions on imports, suppliers have gone on a wild hunt for buyers.

Read the rest of this entry »

Nigerian elections 2015: Oil, militancy and subsidies

On March 28, Africa’s biggest economy and also the continent’s largest oil producer, Nigeria, will go to the polls to elect its new president.

Read the rest of this entry »

US commercial crude stocks continue build: EIA analysis

While US crude oil production was almost flat for the week ended March 20, total commercial stocks increased 8.170 million barrels to 466.678 million barrels, according to data released today from the US Energy Information Administration.

Refineries were slightly more active during the week, with the utilization rate increasing 0.9 percentage point to 89% of operable capacity. Maintenance season has kept utilization rate under 90% since January 16, with the exception of one week. To read a total breakdown of the latest EIA data, see the Platts analysis here.

Energy Economist: King Coal faces the end of its reign

The coal industry is in crisis. It has failed to recognize the structural shift in power generation driven by regulation rather than price and has missed the window of opportunity to invest in clean coal technologies. Now it faces a slow King Canute style demise, as elaborated by Ross McCracken, managing editor of Platts Energy Economist.

Read the rest of this entry »

The UK may lose a large part of its gas storage, but does it matter?

It went largely unnoticed by the general media, but last week there was a significant announcement for the UK gas industry: the country’s main gas storage site may have its capacity cut by around a quarter, reducing the volumes that can be held in reserve next winter.

Just two years ago, during a cold winter, there were warnings that the country “was just six hours away from running out of gas.” So why would storage capacity be cut now, and does it matter? Read the rest of this entry »

New Frontier: Pursuing oil production in the Falkland Islands

The Falkland Islands, off the coast of Argentina, are the focus of a new production push, but sovereignty and price concerns could put a crimp in plans, as Robert Perkins explains in this week’s Oilgram News column, New Frontier.

Read the rest of this entry »

Is gasoline about to give us a demand response?

A swallow does not a summer make, they say.

How about two?  India has just released its February oil consumption data. And rather  remarkably, gasoline sales are up 18.3% on year, on the heels of a 17.7% spike seen in January.

For the two months, gasoline consumption averaged about 470,000 b/d, compared with 398,000 b/d a year ago. Read the rest of this entry »

Tax break, time limits may cause Bakken oil “surge” this summer

As oil prices continue to fall amid flat demand and near-record supply, a dramatic production slowdown is expected to hit the US sometime this summer, if not earlier.

But no matter how unfavorable market fundamentals may be to Bakken operators, North Dakota is likely to see a “big surge” in production this June, potentially besting another supply record even if prices continue to crater, according to Lynn Helms, director of the state’s Department of Mineral Resources.

Read the rest of this entry »

Location, location, location: How much a 10 GW power gen retirement matters

Tucked in the recently released PJM Market Monitor annual report are a couple of tables showing that there will more than 10 GW of generation retired this year in the PJM footprint.

The conventional wisdom goes that 1 MW of power provides electricity to roughly 1,000 homes. So, if 10 GW are retired, then supposedly an estimated 10 million homes in the PJM footprint are going to be without power.

Read the rest of this entry »