The Marcellus may be in the US, but it is having significant impacts north of the border as well. In this week’s Oilgram News column At the Wellhead, Ashok Dutta takes a look at these shifts.
By Ashok Dutta | March 10, 2014 12:01 AM Comments (0)
By News Desk | March 7, 2014 01:52 PM Comments (0)
The recent increase in the price of oil certainly isn’t happening because of any shortfall coming out of OPEC, at least not in February. Our monthly report on the production numbers, and our analysis, can be found here.
By Michael Rieke | March 7, 2014 12:01 AM Comments (3)
The simple answer to that question is that there is no simple answer.
Historically, LNG prices were linked to oil because LNG was displacing oil and that practice continued until US LNG export projects were proposed. Buyers from the US export projects will get LNG based on Henry Hub gas prices because in most cases they will be responsible for buying US gas and transporting it by pipeline to their contracted export projects to be liquefied.
That access to those Henry Hub-priced supplies has spurred buyers to seek gas-indexed prices in their new purchase contracts, displacing traditional oil-indexed prices.
A number of buyers, especially in Japan, are pushing proposed British Columbia export projects to use the US benchmark Henry Hub gas price as the index for LNG.
By News Desk | March 5, 2014 02:08 PM Comments (0)
Our analysis/forecast of this week’s Energy Information Administration inventories predicted a build of about 1.5 million barrels. That’s just about where it came in. You can read our analysis here.
By Katharine Fraser | March 5, 2014 01:33 PM Comments (1)
Let’s try to avoid “the U word.”
That was the polite suggestion of an IHS consultant Wednesday in ironically opening a panel discussion on Russian gas exports at the IHS CERAWeek conference in Houston, ongoing while the U word–Ukraine–continues to simmer.
“Diplomatic crisis come and go,” Thane Gustafson, senior director of IHS’ Russian and Caspian energy group said and a man who has been commenting on Soviet and Russian energy affairs for many years.
By Katharine Fraser | March 4, 2014 05:26 PM Comments (0)
US oil producers may have warmed to Senator Lisa Murkowski calling in Houston this week for the lifting of restrictions on crude exports, but they shouldn’t start licking their chops, judging by the comments of other notables at the IHS CERAWeek conference.
Chevron CEO John Watson said the benefits of free trade should win the day, but he tempered that assertion with a heavy dose of political reality.
“No doubt that we’ll go through a long debate, but it’s a very straight forward economical argument,” he said while giving a keynote address to the conference.
OPEC and other producer countries probably are not shaking in their boots either, based on comments made by the Nigerian oil minister.
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By Takeo Kumagai | March 4, 2014 04:58 PM Comments (1)
Two recent developments have led Japan to realize that US supplies of LPG may not always be cheaper than supplies from the Persian Gulf, or as available, throwing into some question a strategy to access more US-produced LPG in the future.
By Chris Kraul | March 3, 2014 12:01 AM Comments (1)
Colombia put in reforms to its oil industry more than 10 years ago, and it’s been reaping the rewards of that over the past few years. In today’s Oilgram News column Petrodollars, Bogota correspondent Chris Kraul reviews what may lay ahead for the country, and its state oil company Ecopetrol.
By John Kingston | March 1, 2014 10:10 AM Comments (2)
A few eye-popping numbers were in the EIA monthly report on US oil use in December. It shows the shale gale in full bloom.