Canada has ambitious and expensive plans to become a major force in the LNG market. But it isn’t going to be easy, as Ashok Dutta explains in this week’s Oilgram News column, New Frontiers.
By Ashok Dutta | December 29, 2014 12:01 AM Comments (0)
By John Kingston | December 25, 2014 12:01 AM Comments (0)
…and tell old stories of when the price of oil was $100 per barrel and it seemed everybody was happy.
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By Bill Loveless | December 24, 2014 10:39 AM Comments (1)
The Obama administration has taken a lot of heat over its years-long review of the Keystone XL pipeline. Among the questions is whether the Department of State, where the project is still under consideration, should even have the authority to decide whether a pipeline crossing the border with Canada or Mexico is in the national interest.
Most of the criticism comes from Republicans, who are certain to raise the issue again in January, when they take control of the Senate as well as the House of Representatives, and the oil industry. But add to that list now the woman who until recently headed the Pipeline and Hazardous Materials Safety Administration for the Obama administration.
By News Desk | December 24, 2014 10:11 AM Comments (0)
A big net importer of crude oil or oil products doesn’t just import. It might export too, a lot, and the US is a prime example of that. The US remains a net importer of about 5 million b/d or less of total petroleum barrels, yet is the single biggest exporter of oil products in the world.
China isn’t quite at that level yet, but what started out as an interesting quirk in the data earlier this year is now clearly a trend: China is a net exporter of oil products. You can see our analysis of the November figures here.
By Tom Balcerek | December 23, 2014 02:18 PM Comments (0)
Years ago, US Steel got into the energy business with the acquisition of Marathon Oil and Texas Oil & Gas. The thinking at the time was that steel and energy markets were countercyclical: when the steel market was soft, energy markets likely would be strong and vice versa.
We’re not sure what was behind that thinking and the resulting steel/energy conglomerate, USX Corp., was ultimately broken up by famed vulture capitalist cum shareholder activist Carl Icahn. This was part of another 1980s trend of investors seeking “pure plays,” companies focused on a single market or product.
Today the steel and energy markets don’t seem very countercyclical. American hot-rolled coil (HRC) producers and customers that make oil country tubular goods (OCTG) from the basic sheet steel product agree that their energy sector businesses will be seriously impacted early next year by the precipitous fall in oil prices, which are down more than 40% from earlier this year.
By Chris Kraul | December 22, 2014 12:01 AM Comments (0)
Just a few years ago, Colombia was being touted as one of the most successful countries in attracting foreign capital and then in turn boosting its output with that new funding. But things have turned, as Chris Kraul discusses in this week’s Oilgram News column, Regulation & Environment.
By Peter Maloney | December 19, 2014 02:11 PM Comments (0)
Electricity capacity markets are between a hot and a cold place.
They are bracing for a repeat of last winter’s cold weather while preparing for more stringent emissions restrictions that are, in part, designed to address global warming.
Those strains are nowhere more evident than at the PJM Interconnection, which runs the largest wholesale electric power market in the US.
By Geoff Craig | December 19, 2014 11:12 AM Comments (3)
It was supposed to be one of the few things that could stop oil prices from falling further: a major producer in the Middle East closing oil export terminals due to heavy fighting in the area.
Last weekend Libya’s state-owned National Oil Corporation declared force majeure from Ras Lanuf and Es Sider, two ports in the eastern part of the country with a combined capacity of 560,000 barrels per day.
What was the response by oil traders? Not much. On Monday, Brent futures dropped 79 cents.
By News Desk | December 19, 2014 10:25 AM Comments (0)
Getting on the final week of The Colbert Report is a real coup, particularly when you’re one of many experts out there talking about oil prices.
Jason Bordoff, who has established a thriving energy center at Columbia University and has written guest posts for The Barrel, scored that very gig on Colbert this week, talking about the oil price collapse. And he tried mightily to stay serious when face-to-face with the Colbert character. You can see it here.