Archive for the ‘natural gas’ Category

US data indicates power sector CO2 emissions down 15.6% since 2007

As it prepares for the November 30 start-up of the United Nations Climate Change conference in Paris, the US Department of Energy has been generating data that shows total US carbon dioxide emissions have declined and then flattened out in the past eight years, with emissions specifically from the US power sector part of the same trend.

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The Eastern Mediterranean Basin showing promise for oil, gas: Fuel for Thought

Ask an oceanographer about the Eastern Mediterranean Basin, and he might mention a sea-floor dotted with mud volcanoes spewing gas and sometimes oil into the benthic environment.

Ask a geologist, and she may wax lyrical about sediment columns up to 12 km thick, generously capped by “evaporite,” i.e. dirty rock salt.

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Look to Mexico for some of the best oil market story lines through 2020

“Reform” is one of those words that means anything you want it to mean. It’s been deployed in so many political fights, it has really lost its meaning in most contexts. I suppose some people still say a teen car thief is sent off to “reform school,” but I doubt it.

Here in Mexico City, that word is loaded. I’m writing this 12 floors up from the Paseo de la Reforma, the grand boulevard named for the civil war between liberals and conservatives here in the 1850s and 1860s.

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Why US natural gas prices hit multi-year lows this week

On Oct. 29, 2015, the NYMEX November natural gas futures contract settled at $2.033/MMBtu.

For comparison, the November contract closed at $3.649/MMBtu in 2014, $1.61 higher or 79 percent higher than Oct. 29. The last time the prompt-month contract closed lower than Oct. 29 was April 24, 2012 at $1.975/MMBtu.

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Oil and gas M&A heats up in Australia and PNG

More than a year after oil prices started to tank, it looks like the Australian and Papua New Guinea markets are poised for a period of serious merger and acquisition activity.

The latest round of maneuvering was kicked off in September by Woodside Petroleum, Australia’s biggest listed oil and gas producer, when it launched an A$11.6 billion ($8.4 billion) takeover bid for Papua New Guinea-based Oil Search. Woodside offered one of its own shares for every four held in Oil Search, which is also listed in Australia, in a proposal that the target and local analysts immediately dismissed as low-ball.

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US continues to distance itself as the world leader of natural gas

Over the last decade, the United States has firmly established itself as the world’s largest natural gas producer. This significance of this is difficult to overstate, as less than a decade ago growing natural gas demand and declining production was putting the US on course to import significant amounts of gas from abroad.

The growth has created a buzz throughout the entire commodity industry and around the world. Folks that cover oil, ethanol, electricity, coal, natural gas liquids, petrochemicals, and grain often comment about the exceptional growth of the US natural gas industry, sharing thoughts on how big a role gas will play in the US and abroad.

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The Panama Canal is leaking!? Eh…who cares, LNG trade seems to say

During routine testing of the expanded Panama Canal, engineers recently discovered some alarmingly large leaks in the new Cocoli Locks on the Pacific side, separating the middle and lower chambers. Despite the startling volume of water that can be seen cascading through what appears to be several meters of solid concrete, news of this development seems to have remained a secret. Alternatively, perhaps it’s just that no one actually cares.

According to the Panama Canal Authority, LNG tanker traffic is expected to reach 25 million metric tons per year upon completion of the expansion project. In recent years, LNG export project developers along the US Gulf Coast have been banking on an expanded canal for sales to Asia. Indeed, according to some estimates, the transit distance from the US Gulf Coast to Japan can be reduced to around 9,215 nautical miles, compared with 14,570 nautical miles through the Suez Canal.

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Russia’s oil industry woes also from within: Petrodollars

Russia’s oil and natural gas industry is feeling the impact of low prices and financial and technological sanctions, but disagreements within the country’s own energy sector are also proving a hurdle to development, as Rosemary Griffin details in this week’s Oilgram News column, Petrodollars.

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To build, or not to build, that is the question with ethane crackers

The US is experiencing a renaissance in petrochemicals due to the abundance of ethane from shale gas. As a result, we saw many announcements of ethylene capacity expansions and ethane based projects in the US to utilize more of the shale gas based ethane. Why? Ethane based crackers sit low on the ethylene production cost curve.

So what do you do if you are a naphtha cracker high on the cost curve producing in Europe and Asia?

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Data downpour to reveal all in EU gas and power markets

EU energy regulators are about to find out what really goes on in the wholesale gas and electricity markets, as a new trade reporting obligation starts on October 7. This is a huge step toward more transparent markets, but what will regulators do with the data?

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