This time a year ago, the United States produced about 66 Bcf/d of natural gas and the national average price of next-day delivered natural gas was $4.59/MMBtu. Today, the US is producing roughly 72 Bcf/d of natural gas and the average national price of next-day delivered gas, as of April 13, was $2.35/MMBtu. It is safe to say that we are in an environment of depressed prices and surplus supply.
By Chris Pedersen | April 17, 2015 01:00 PM Comments (0)
By Tim Worledge | April 17, 2015 12:03 AM Comments (0)
Time was when humanity seemed to take endless leaps forward in terms of technology. There was a sense that everyone was pushing forward at the same time and in the same direction. In today’s world, when investing in the next big tech, the great diaspora of ideas can be a challenge that divides investment funds, and has the ability to muddle that sense of direction, that notion of collective tech-progress.
Which brings us to cars. Combustion engines surely can’t go on for ever, that much is clear, but in that maelstrom of ideas, could the electric car now be attaining a critical mass? And could the two great energy and transport rivals — oil and biofuels — be developing a blind spot around their rise?
By Sebastian Lewis | April 16, 2015 02:35 PM Comments (0)
What’s in a number? Quite a lot when it comes to Chinese GDP.
Especially when it’s 7%, which was the real growth rate of the Chinese economy in the first quarter of 2015, compared to the first quarter of last year, according to the Chinese National Bureau of Statistics, who released this much-awaited data point on April 15.
By John Kingston | April 16, 2015 12:01 AM Comments (9)
John Kingston is president of The McGraw Hill Financial Global Institute and director of global market insights. He continues to observe energy markets after his many years with Platts.
There’s another growing kerfuffle in Vermont, which we’ve written about before as it tries to balance a seemingly impossible array of choices as it moves forward with its energy future. It’s a small state, but some of the conflicts there are sure to be duplicated in other parts of the US…and the world.
By News Desk | April 15, 2015 05:24 PM Comments (0)
US commercial crude oil stocks rose 1.294 million barrels during the week ended April 10, marking the smallest build over the last 14 weeks, according to the latest data from the US Energy Information Administration.
Stocks now total 483.687 million barrels, and production and imports also fell during the week. For more information, including the refinery utilization rate, you can read the full Platts analysis here.
By Alex Froley | April 15, 2015 06:00 AM Comments (0)
The UK’s Conservative party, running neck-to-neck in the polls with the Labour party ahead of the country’s May 7 general election, has released its 2015 manifesto. Among the commitments is a pledge to establish a shale gas wealth fund for the north of England.
By Christopher Ferrell | April 15, 2015 12:01 AM Comments (0)
For two years, US polyethylene prices climbed higher and higher.
For two years, feedstock prices had little-to-no impact on domestic polyethylene contracts. Upward or downward shifts in domestic demand seemed to have little effect.
By Brian Scheid | April 14, 2015 12:01 AM Comments (1)
The historic meeting Saturday between President Barack Obama and Cuban President Raul Castro during the Summit of the Americas in Panama may be a strong signal that over 50 years of trade restrictions will soon be eased, but don’t expect US oil and gas operators on or offshore the island nation anytime soon.
By Rosemary Griffin | April 13, 2015 06:00 AM Comments (0)
Ask most people about Russian oil and gas production, and they’re likely to bring up the two giants: Rosneft and Gazprom. But private companies are possibly in a position to see their roles change in the country’s oil landscape, as Rosemary Griffin describes in this week’s Oilgram News column, Regulation and Environment.
By William Powell | April 13, 2015 12:01 AM Comments (0)
Shell has become the first major to take proper advantage of the low oil price, taking out a company that it has long been interested in buying: BG. And the reason is a good one: not growth for its own sake but using BG’s assets to help it achieve its own goals faster. The transaction is underpinned by BG’s asset value, it said.