Archive for the ‘oil’ Category

Poll: Do you think the US will approve the Keystone XL pipeline?

With the end of the Obama administration in sight (or at least the 2016 presidential campaigns already making headlines), signs point toward a deadline on the Keystone XL decision.

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Observers wait for Mexico to allay concerns over subsequent bidding rounds

Mexico’s debut bidding event in Round One of its energy reform is now history, and resulted in what was widely agreed was a poor showing.

Now, the post-mortems have begun, both within industry and the Mexican government, which openly acknowledged it needs to do a better job of listening to industry’s concerns about contract terms that might have attracted more winners had the sticking points been addressed to begin with.

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As Rosneft turns to Asia, will spot crude oil sales in the East decline further?

Russian giant Rosneft’s recent deals in Asia suggest it is potentially shifting the balance of its crude oil sales in the region — one of its most important export markets — from a spot tender basis to long term contracts and significantly reducing the amount of Russian crude that enters the spot market in Asia.

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Major US oil trend left out of discussion of Iran deal

Secretary of State John Kerry held a question-and-answer session to a packed house Friday in New York at the Council on Foreign Relations to talk about the recently-concluded nuclear deal between Iran and several Western nations, including the US.  It didn’t matter that the breakfast was called on about 24 hours notice on a Friday in the summer; it was a true VIP audience. (For example, among those in attendance: Hess Oil CEO John Hess.)

John Kingston, president of the McGraw Hill Financial Institute and a long-time Platts editorial leader, was in attendance. And as he noted, there was one word that, amazingly, didn’t emanate from Secretary Kerry’s mouth, not even once. You can find out what that word was on the Institute’s blog here.

Tracking the rise of the refrac: New Frontiers

How does one prompt more oil production in a time of lean budgets and low prices? In this week’s Oilgram News column, New Frontiers, Starr Spencer explains how some are trying to find success by revisiting horizontal wells.

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How did the SPR become so popular on Capitol Hill? The illusion of a piggy bank

About 700 million barrels of crude oil stored in four sites along the US Gulf coast seems to have recently inspired the imagination of a cash-strapped Congress.

With US crude production nearing record highs and prices falling below $50/b, federal lawmakers are pushing to sell millions of barrels from the US Strategic Petroleum Reserve to fund bills with little, or nothing, to do with energy.

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Banks see second quarter revenue dip from commodities

Pinning down the financial performance of energy commodity trading at top financial institutions is complicated by the manner in which banks segment their operations and lump together certain revenue numbers.

While differences exist from bank to bank, for the most part the big banks place commodity trading within their fixed-income unit of their investment bank division. Low commodity prices, less volatility, and thus lower volumes traded, have all had an impact.

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The conundrum of North Dakota’s oil output: At the Wellhead

North Dakota made headlines recently with its crude oil production numbers for May, which surprised many and left some scratching their heads. Brian Scheid looks into what drove the production, and what it means for future production, in this week’s Oilgram News column, At the Wellhead.

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Mexico’s landmark oil lease sale results disappoint

Mexico’s first upstream auction in 77 years proved to be a disappointment July 16, with the award of just two of the 14 blocks on offer. After months of highly promoted conferences and publicity following last year’s energy reform, the weak response came as a surprise.

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Iran nuclear deal impact on oil markets

Iran’s oil and financial sanctions will be lifted with a phased deal struck on its nuclear program on July 14, but the market won’t immediately see more crude. The country is currently exporting around 1 million b/d of crude, less than half the 2.2 million-2.3 million b/d exported before the European Union and US imposed crippling oil and financial sanctions in mid-2012.

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