The draw in crude oil stocks reported by the Energy Information Administration wasn’t of the size that the American Petroleum Institute shocked the market with a day earlier, but it was large nonetheless. You can see our analysis of it here.
By News Desk | December 4, 2013 02:38 PM Comments (0)
By James Bourne | December 3, 2013 12:01 AM Comments (0)
Many people are only just getting used to the idea that Burma is now called Myanmar, that after almost 50 years of military rule it is moving quickly toward full democracy and that, following the easing of US and EU sanctions, it is open for business.
But in Asia, the rich business opportunities in Myanmar are well understood. The former capital Yangon is a construction site as, and to the dismay of some, colonial-era buildings are torn down to be replaced by new malls, hotels and office blocks. New cars, a rarity a few years ago, cruise the streets. A rising number of businesses accept credit cards.
Part of the boom is likely to be in hydrocarbons, most probably natural gas. During western sanctions China was Burma’s biggest business partner and as a result got first mover advantage. The deepwater Shwe gas field (operated by South Korea’s Daewoo) started producing in July and first exports reached China, via a newly built pipeline, in September.
By John Kingston | December 2, 2013 11:17 AM Comments (0)
The price of gasoline in the US usually goes up before every holiday. At least, so sayeth a blog post by The Atlantic, an august publication if there ever was one.
That declaration was made without any hesitation in this blog post by Todd Woody, described as an environmental and technology journalist: “Gasoline prices typically rise during holidays—and that’s particularly true for Thanksgiving, when the roads are the most crowded.”
It takes about five minutes of playing on the EIA website and with Excel to reveal that claim is absurd.
By News Desk | December 2, 2013 12:01 AM Comments (2)
Getting crude from the oil sands out to market is an enormous challenge, and there are several proposals that would aim to meet that need. Canada’s National Energy Board is going to need to review those projects, and it is going to be under tremendous scrutiny, as Ashok Dutta discusses in this week’s Oilgram News column, Regulation & Environment.
By Jacinta Moran | November 29, 2013 08:14 AM Comments (0)
The 20th Africa Oil Week, the world’s longest standing oil and gas event for Africa’s oil industry, celebrated its 20th anniversary in Cape Town this week. More than 1,500 delegates from six continents attended during the week where issues over managing Africa’s energy resources were a lead topic.
East Africa has been at the forefront of new oil and gas discoveries over the last 12 months. But a number of challenges remain to be overcome, not least over security and community awareness before the new reserves can be brought into production.
By Brian Scheid | November 29, 2013 12:01 AM Comments (0)
The Department of Energy’s decision this month to give conditional approval to a Houston-based company to ship even more liquefied natural gas from its planned export facility appeared to be exactly what many in the industry had been clamoring for.
But after a close-reading of the DOE’s order and discussions with sources familiar with the issue, the recent approval seems to be far less of a victory for the pro-export crowd. In fact, the approval could be interpreted as an ominous decision from an agency wary of sending US gas into the global market and might signal a DOE decision to severely curtail future export authorizations, at least from the US Gulf Coast.
By Takeo Kumagai | November 28, 2013 12:01 AM Comments (0)
Japan has opened a public debate for the first time in more than a decade about whether to have clearer rules about third -party access to LNG terminals.
But it remains unclear whether the world’s largest LNG importer expects there will even be such demand for the third-party access at the country’s 31 import terminals.
By John Kingston | November 27, 2013 03:54 PM Comments (0)
Some turkey nuggets the day before Thanksgiving on the EIA monthly report on September US petroleum data, released today:
By Joshua Brown | November 27, 2013 12:01 AM Comments (0)
Two new arbitrages have opened in the last month for two vastly different crude markets, both created by the abundant supply coming out of North America’s ever-growing production and low seasonal demand.
Indian Oil Corp. bought a cargo of White Rose crude oil on November 21, marking the first time the state-owned company reached out to the Canadian East Coast for crude supply.
By News Desk | November 26, 2013 10:10 PM Comments (0)