Archive for the ‘Platts analysis’ Category

What is India’s BJP thinking about the country’s energy policy?

India’s oil and gas sector saw some unprecedented decisions taken last year under the Congress Party-led government.

These ranged from a partial deregulation of diesel prices to a new gas pricing mechanism that would have seen the wellhead price of gas double to over $8/MMBtu. However, the hike — which was ratified twice by the Cabinet — was never implemented as scheduled on April 1 due to India’s upcoming elections.

The Congress-led government last year also started revamping and streamlining upstream policy to incentivise exploration and production.

All in all, 2013 was a busy year for journalists as we struggled to keep pace with and understand all that was going on in India’s energy sector.

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EIA analysis: a big jump in crude oil stocks

Crude oil stocks in the US had been declining for several weeks, but they’re turned around significantly. This week’s Energy Information Administration report showed a significant build. You can read our analysis here.

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OPEC oil output in March: A reversal of recent trends

OPEC output took a significant decline in March, according to the latest Platts survey. It also marked a reversal of recent trends, wherein Saudi Arabia would normally make up for shortfalls out of other OPEC countries. But this time, Iraq output fell, as did that of Libya, but Saudi output declined as well. You can read Platts’ analysis here.

EIA analysis: big draw in gasoline inventories

A draw in gasoline stocks far beyond what had been predicted by analysts was one of the most notable numbers in this week’s Energy Information Administration’s weekly statistical report. You can see our analysis here.

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Citi vs. Chevron: two opposing views of the oil price future

In another of our occasional guest blog entries, Steven Kopits of Princeton Energy Advisors considers the clashing views of Citi Commodities Research and Chevron regarding the likely path of oil prices. Steve can be reached at steven.kopits@prienga.com.

The direction of oil prices is once again a hot topic. In a recent Barron’s article, Ed Morse, Citigroup’s head of global commodity research, forecasts a collapse in global oil prices to $75 /b over the next three to five years. By contrast, Chevron has announced that it is budgeting with $110/b oil for 2017, with the company’s CEO John Watson stating, “There is a new reality in our business… $100/bbl is becoming the new $20/bbl in our business… costs have caught up to revenues for many classes of projects.” And for good measure, he adds, “If $100 is the new $20, consumers will pay more for oil.”

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EIA analysis: an unexpected rise in crude oil stocks

Crude oil inventories last week rose, contrary to most expectations. James Bambino’s analysis can be read  here. 

Chinese oil demand: a moderate February rise

In line with the general buzz about what Chinese oil demand is doing these days — not too hot, not too cold — Platts’ estimate of that number showed a small rise in February compared to a year ago. You can read our analysis here.

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EIA analysis: Gulf Coast crude oil stocks hit record high

U.S. Gulf Coast crude oil stocks hit record highs during the week ended March 21st, reaching 200.3 million barrels, as growing pipeline capacity from Cushing, Oklahoma, sent barrels southward, according to data released Wednesday by the US Energy Information Administration (EIA). Read the full Platts analysis here.

Petrochemicals infographic: Global polyethylene trade flows

Platts petrochemical analysis team have joined forces with our design & production department to produce what we think is a  beautifully crafted infographic on global trade flows for polyethylene. It also details surplus and deficit totals and includes key trend points, statistics and forecasts going out all the way to 2023. Remember: we’d love to read your thoughts on the impact of shale on both petrochemical and oil markets, so join in on the comments section below.

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EIA analysis: Crude oil stocks jump more than expected

US crude oil stocks rose a greater-than-expected 5.9 million barrels the week ended March 14 as refiners continued to ease back run rates due to seasonal maintenance, according to data released Wednesday by the US Energy Information Administration. Read our analysis here.