In a new Oilgram News column, Fuel for Thought, Herman Wang explains how the abundance of domestic crude oil production gives the US diplomatic leverage and considers how — or if — that could change if export restrictions were lifted.
Posts Tagged ‘shale’
By Herman Wang | November 2, 2015 11:02 AM Comments (5)
By Robert Perkins | October 28, 2015 12:01 AM Comments (1)
Aside from a brief blip, oil prices have remained stubbornly below $50/b in recent weeks despite fresh concern over global demand and rising geopolitical tensions. On the supply side, the market’s gaze has gravitated to that most closely watched of oil market variables — the response of US shale output to weaker oil prices.
By Starr Spencer | September 22, 2015 12:01 AM Comments (0)
The recent Barclays CEO Energy-Power Conference came at a crucial time in the current lower-for-longer oil price environment and clarified upstream CEOs’ plans to weather what could be 2015 all over again for a couple of more years.
By Herman Wang | September 14, 2015 12:01 AM Comments (2)
By Robert Perkins | September 2, 2015 12:01 AM Comments (0)
As if the recent oil price dive to the lowest level in six years wasn’t enough to keep industry nerves on edge, the current price volatility is proving just as hostile to producers as sliding margins.
After bottoming out in late January at $45/b, NYMEX crude had recovered to $60/b by May, in a correction now widely seen as premature as it was overcooked. Bears pointed to the stubborn and growing glut of global oil supply hanging over the market.
If the rebound was quick, the subsequent fall has been just as dramatic and the double-dip in oil prices has been more severe than many predicted.
By Andrew Allan | July 21, 2015 12:01 AM Comments (1)
As the champagne bottles smashed into the side of the two newly-built ships that in November will bring the first cargo of US shale gas into Europe, billionaire chairman of Ineos Jim Ratcliffe sent a clear message to European lawmakers whose energy policies have stalled his plans to frack for gas in Europe.
Emblazoned down the side of the two freshly-named vessels — the Ineos Insight and Ineos Ingenuity — were the words “Shale Gas for Manufacturing” and “Shale Gas for Chemicals.”
By Brian Scheid | July 20, 2015 12:01 AM Comments (0)
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.
By Eshwar Yennigalla and Hetain Mistry | July 14, 2015 12:01 AM Comments (0)
Benzene is a primary aromatic and the precursor for the C6 value chain, and finds itself at crossroads in relation to the aromatics main outlet of supply. Benzene supply is traditionally dependent on gasoline production out of the refinery and as a co-product of naphtha cracking.
However, massive projections for increased polyethylene terephthalate demand in Asia led to a wave of investments in paraxylene production units and resulted in growth of benzene production as a by-product from these units. Also, with major refinery expansions in the Middle East (especially processing heavier crude, which yields more benzene) and Asia, as well as move to lighter cracking for ethylene production in the US and the Middle East, benzene supply dynamics globally have changed. Benzene is no longer just dictated by the traditional means of supply.
By Benjamin Morse and Starr Spencer | June 8, 2015 12:01 AM Comments (1)
The US and Canada aren’t slowing oil production, as many predicted when it appeared oil prices were settling into a lower pattern for an extended time period. Efficiencies, which fostered the growth of tight oil production, have continued to protect margins, as Benjamin Morse and Starr Spencer explain in this week’s Oilgram News column, New Frontier.
By Robert Perkins | May 18, 2015 12:01 AM Comments (0)