Posts Tagged ‘crude oil’

Nigerian elections 2015: Oil, militancy and subsidies

On March 28, Africa’s biggest economy and also the continent’s largest oil producer, Nigeria, will go to the polls to elect its new president.

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US commercial crude stocks continue build: EIA analysis

While US crude oil production was almost flat for the week ended March 20, total commercial stocks increased 8.170 million barrels to 466.678 million barrels, according to data released today from the US Energy Information Administration.

Refineries were slightly more active during the week, with the utilization rate increasing 0.9 percentage point to 89% of operable capacity. Maintenance season has kept utilization rate under 90% since January 16, with the exception of one week. To read a total breakdown of the latest EIA data, see the Platts analysis here.

New Frontier: Pursuing oil production in the Falkland Islands

The Falkland Islands, off the coast of Argentina, are the focus of a new production push, but sovereignty and price concerns could put a crimp in plans, as Robert Perkins explains in this week’s Oilgram News column, New Frontier.

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Tax break, time limits may cause Bakken oil “surge” this summer

As oil prices continue to fall amid flat demand and near-record supply, a dramatic production slowdown is expected to hit the US sometime this summer, if not earlier.

But no matter how unfavorable market fundamentals may be to Bakken operators, North Dakota is likely to see a “big surge” in production this June, potentially besting another supply record even if prices continue to crater, according to Lynn Helms, director of the state’s Department of Mineral Resources.

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EIA analysis: US oil stockpiles, production rose last week

The latest data from the US Energy Information Administration shows US crude oil stockpiles rose 9.62 million barrels during the week ended March 13, again surpassing analysts’ expectations about the build. At 458.51 million barrels, US stockpiles for this time of year are at the highest level seen in at least 80 years, the EIA said. Learn more about crude oil production, imports, refinery demand and regional stocks in our latest Platts analysis, which you can read here.

The Oil Big Five: Slowdowns from capex cuts and strikes

In the US, March often means spring break: children and young adults have a week off school and classes and families take the time to travel, have some adventures in their hometowns, or just try to catch up and catch their breath as the year continues its hurtle forward.

You may have thought we were taking a break from The Oil Big Five, since this entry is coming midmonth instead of at the beginning of March. Thankfully, that’s not the case, and we’ve caught our breath enough to share this listing of five big oil topics our oil editors and analysts worldwide think are among the most important. Leave us your thoughts in the comments below — are there others you want recognized, or would you like to chime in support that one of these topics is affecting you somehow? — and drop us your feedback on Twitter with the hashtag #oilbig5.

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Regulation & Environment: US oil struggles to unite over regulation reforms

In this week’s Oilgram News column, Regulation & Environment, Brian Scheid describes how different segments of the US oil industry are grappling with which policies they feel most in need of revisions given the temptation of foreign markets for domestic crude.

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Should China’s state-owned giants fear the teapot refineries?

China’s intention to relax hitherto strict crude import rules may be causing alarm within its state-owned refiners.

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EIA analysis: US crude stocks grow, likely to continue building

After a few weeks of higher-than-expected stock builds, analysts did a great job of pegging the build to US commercial crude  stocks for the week ended March 6.

According to the latest data from the US Energy Information Administration, stocks rose 4.5 million barrels for the week, just a bit above analysts’ expectations. The inventories now come in at 448.9 million barrels, pushing further into record-high territory. The data was also released just a day after the EIA said it expects US crude oil production to increase to 9.35 million b/d in 2015 and 9.49 million b/d in 2016 and that inventories are likely to continue growing over the next couple of months.

For the full Platts analysis of the latest EIA oil data, click here.

As Capitol Hill erupts over Iran letter, Senator Corker holds fire

The jaw-dropping letter that 47 Republican senators drafted to Iranian leaders as a warning shot over nuclear negotiations has some prominent signatories — the party’s entire Senate leadership team and a few possible presidential contenders in Ted Cruz, Rand Paul and Marco Rubio.

But the letter, first reported by Bloomberg, is missing the signature of one significant senator: Bob Corker, a Tennessee Republican who chairs the influential Senate Foreign Relations Committee.

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