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March 19, 2020

Saudi Arabia, Iraq say they won’t compensate for oil freight rate jump: documents

March 19, 2020

Reuters NEW DELHI/SINGAPORE/MOSCOW  – Saudi Arabia and Iraq have said they are unable to provide freight rebates for crude oil shipments under default contract terms due to a record rise in tanker rates, documents seen by Reuters showed on Thursday. Changes in supply terms may lead to cancellations of April cargoes by buyers across the world as they weren’t expecting

Weekly Gas Storage: Inventories increase by 76 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 9 Bcf

March 19, 2020

Natural Gas Inventories as of March 13, 2020 The EIA has released its natural gas inventory report, showing a net decrease of 9 Bcf as of March 13, 2020. Working gas in storage was 2,034 Bcf as of Friday, March 13, 2020, according to EIA estimates. This represents a net decrease of 9 Bcf from the previous week. Stocks were

Enterprise Products Partners seeks to cut budget as oil war continues-oil and gas 360

Enterprise Products Partners seeks to cut budget as oil war continues

March 19, 2020

Houston Chronicle Houston pipeline operator Enterprise Products Partners is looking at ways to trim its multibillion dollar capital expenditure budget cuts as the ongoing oil price war takes its toll on the company’s customers. In a Wednesday afternoon statement, Enterprise reported that the company is reviewing its 2020 capital expenditure budget due to the potential impacts of record low crude

The Price of Oil Jumped Because the U.S. Might Buy Huge Amounts of It- oil and gas 360

The Price of Oil Jumped Because the U.S. Might Buy Huge Amounts of It

March 19, 2020

Barron’s Oil prices rose Tuesday morning following comments by Treasury Secretary Steven Mnuchin that the U.S. needs to buy even more oil at today’s low prices. Government purchases of huge amounts of oil would essentially equate to a bailout of the U.S. oil industry, because several U.S. producers would likely go out of business if demand and prices stay low.

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