Standard & Poor’s rating agency today downgraded Russia’s state-owned oil and gas giant Gazprom (ticker: OGZPY) and a number of other …
President Obama released his proposed federal budget, asking Congress to eliminate billions of dollars in tax breaks to the oil and gas industry in order to fund a …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/30/15)
Current: 413,060
Actual Build/(Withdrawal): 6,333
Economist Average Estimate: 3,940
Previous: 406,727
Click here for the chart with five year averages.
Click here for an archive of EnerCom’s Inventory Reports.
ANALYST COMMENTARY
KLR …
A consortium that includes a 50:50 joint venture between Bharat Petroleum (ticker: PBCL) and Videocon Industries (ticker: VIDEOIND), and Brazilian oil major …
Quebec oil and gas company Junex (ticker: JNX) announced earlier this week that it plans to restart production of its Galt No. 4 horizontal …
Last September, Gov. John Hickenlooper created an oil …
Negotiations resumed today between Royal Dutch Shell and union leaders as they work to solidify a new contract for workers at 72 oil refineries around the United States. Starting Sunday, the United …
A Federal Reserve Board survey of senior loan officers on bank lending practices found that, over the last three months, credit standards for approving applications for commercial and industrial (C&I) loans or credit lines have eased in many cases. Of …
Oil traders experienced a moral victory today, witnessing West Texas Intermediate (WTI) close at $52.13 – the highest since January 5, 2015. The spot price has rebounded 17% in less than a week, dating back to the closing of $44.45 …
China National Offshore Oil Corporation (CNOOC) announced today that its Jinzhou 9-3 comprehensive adjustment project has commenced production.
The Jinzhou 9-3 oilfield is located in the North Liaodong Bay in Bohai with a water …
Greece will review tenders offered on 20 offshore oil and gas blocks in the Ionian Sea and off southern Crete due to be signed …
Data released by Ernst and Young (EY) shows that while the total volume of …
Lonestar Resources, (OTCQX: LNREF, ASX: LNR), an oil and gas company with assets in the Eagle Ford and Bakken shales, reported its Q4’14 earnings on February 2, 2015. The Fort Worth-based E&P reported several company records despite the challenges associated …
Two applications for seismic surveys have been submitted following the announcement from the Obama administration that it would open up portions off the east coast for offshore drilling. The two companies, Spectrum Geo and GX Technology, both Houston based companies, …
Groundhog Day might have been a scare for two out of three groundhogs, but not for the world’s oil bulls.
In spite of warnings of a short-lived rally from some banks, oil prices …
Dropping oil prices may have put the brakes on a lot of E&Ps’ capital spending plans for 2015, but that’s not slowing down Jason Vedadi …
According to statistics from the Energy Information Administration, November, 2014, marked the first time since 1996 that the United States has not imported any liquid natural gas (LNG). U.S. LNG imports have been declining since 2007, with substantial decline …
Finally someone has sniffed out a bit of positive news from the land of Mao. In its latest Oil Market Update, Oslo’s DNB Bank sent out a research note entitled: “Remarkably Strong Oil Demand in China in December and Last …
State-owned energy giant Rosneft (ticker: RNFTF) will not be able to continue drilling in …
Royal Dutch Shell (ticker: RDSA) signed a deal with Iraq on Wednesday for $11 billion to build a petrochemical plant in the southern oil hub of Basra. Shell has …
TransCanada’s (ticker: TRP) Keystone XL pipeline received Senate approval yesterday in a bipartisan 62-to-36 vote in favor of allowing the pipeline. Nine Democrats joined 53 Republicans to pass the measure, but …
NATURAL GAS INVENTORY (Week Ended 1/23/15)
Current: 2,543 Bcf
Actual Injection/(Withdrawal): (94) Bcf
Economist Average Estimate: (110) Bcf
Previous: 2,637 Bcf
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The Middle East is filled with countries that have complex energy policies that affect the whole globe. Many of them work together in the Organization of Petroleum Exporting Countries to make decisions …
The town of Erie, Colorado, has decided against postponing drilling permits within city limits, The Denver Post reported today. The Erie Board of Trustees voted to not impose a moratorium by a 4-3 count. Citizens had filed noise complaints from …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/23/15)
Current: 406,727
Actual Build/(Withdrawal): 8,874
Economist Average Estimate: 4,000
Previous: 397,853
Click here for the chart with five year averages.
Click here for an archive of EnerCom’s Inventory Reports.
ANALYST COMMENTARY
Raymond …
The rig count is dropping, but crude inventories continue to grow. In fact, EnerCom’s Crude Oil Cuttings inventory report is at risk of expanding the maximum range of barrels, a move we’ve never been prompted to make.
The Energy Information …
The government of Ghana, ENI (ticker: E) and Vitol yesterday signed an agreement to start work on the Offshore Cape Three Points (OCTP) oil …
The United States Department of the Interior, in conjunction with President Obama, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Abigail Ross Hopper, released a Draft Proposed Program for development of offshore properties in an …
The White House released a revised Comprehensive Conservation Plan Sunday, which will designate 12.28 million acres in Alaska’s Arctic National …
