Energy News

360 Digital Closing Bell 6-23-2020

360 Digital Closing Bell 6-23-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 8 min summary of the energy markets.  

Michael covers the highlights and the article from anonymous sources that trash the oil business. 

Source: Reuters

Global natural gas production to fall by 2.6% this year: Rystad Energy

Reuters


LONDON – Global natural gas output is set to fall by 2.6% this year because of the impact of the COVID-19 pandemic, after previously being expected to grow, consultancy Rystad Energy said on Tuesday.

Rystad Energy had expected total …

June 23, 2020 - 1:30 pm Closing Bell Story‎, Energy News, Natural Gas News
Source: Reuters

Column: Oil prices transitioning to next phase of cycle – Kemp

Reuters


LONDON  – Brent futures prices have risen by more than 80% over the last two months, the fastest increase at any point for more than a quarter of a century, as the market has rebounded from its worst crisis …

June 23, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil up after Trump assurance on China trade deal

Reuters


LONDON  – Oil prices rose on Tuesday in a volatile session after U.S. President Donald Trump soothed jangled nerves over the status of the U.S.-China trade deal.

Markets were unsettled by surprise comments from White House trade adviser Peter …

360 Digital Closing Bell 6-22-2020

360 Digital Closing Bell 6-22-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 8 min summary of the energy markets.  

Michael covers the highlights and the article about the Deloitte shale industry: Shale industry will

Source: Reuters

China targets rise in oil, natural gas output this year

Reuters


BEIJING  – China aims to produce 1% more crude oil this year than in 2019 and to boost natural gas output by 4.3%, official targets showed on Monday, as the country seeks to safeguard energy security even after a …

Source: Reuters

German hydrogen economy to spark traded market for imports: consultants

Reuters


FRANKFURT  – Germany’s push to increase the use of hydrogen as a clean fuel to meet climate targets will require imports and a traded market to supplement home-produced supplies, a consultancy close to protagonists in the emerging industry said.…

Source: Reuters

BofA sees oil demand recovering, hikes crude forecasts

Reuters


Bank of America (BofA) Global Research has lifted its oil price forecast for this year and next as demand recovers from coronavirus-linked shutdowns, the OPEC+ output cut deal curtails supply, and producers slash capital expenditure.

The bank now sees …

Source: Reuters

Oil falls on fears over rising virus cases worldwide

Reuters


LONDON – Oil prices fell on Monday as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers.

Brent crude LCOc1 was down 24 cents, or 0.6%, …

Source: CNBC

Shale industry will be rocked by $300 billion in losses and a wave of bankruptcies, Deloitte says

CNBC


The U.S. shale industry is about to enter a period of “great compression” as low oil prices hammer the sector, according to a Deloitte study released Monday.

The firm believes that exploration and production companies could  write down …

Source: Nasdaq

Column: Funds realise profits, anticipate pullback after oil rally

Reuters


LONDON – Hedge funds started to realise some profits and anticipate a pull back in crude prices, especially in the United States, after a strong rally saw prices double in less than two months.

Hedge funds and other money …

Source: Reuters

Column: Oil prices no longer especially cheap after strong rally – Kemp

Reuters


LONDON  – Oil prices are no longer particularly cheap by historical standards.

Perceptions about prices tend to be over-influenced by recent experience so current prices feel very low to producers used to receiving $60-80 per barrel over the 2018/19 …

Source: Reuters

U.S. slaps sanctions on Mexican firms, individuals linked to Venezuelan oil trade

Reuters


WASHINGTON/MEXICO CITY  – The United States on Thursday blacklisted Mexico’s Libre Abordo and a related company, accusing them of helping Caracas evade U.S. sanctions in the first formal action by the U.S. Treasury Department against Mexican firms involved in …

Oil tops $42 as OPEC+ laggards pledge better compliance

Oil tops $42 as OPEC+ laggards pledge better compliance

Reuters


LONDON – Brent oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and on signs of demand, hit by the coronavirus crisis, …

Indian Prime Minister Narendra Modi (Photo: Prachatai/Flickr)

India eyes private investment to open 41 new coal mines

CHN


Oil & Gas Publishers Note: I applaud Prime Minister Modi for standing up for his commitment to the Indian people. Getting the lowest cost power to help elevate the country’s population out of poverty is truly putting his people

Source: CNBC

IEA outlines $3 trillion green recovery plan for world leaders to help fix the global economy

CNBC


The International Energy Agency has laid out a $3 trillion green recovery plan, offering governments around the world a “once-in-a-lifetime” roadmap to sustainably rebuild their economies in the wake of the coronavirus pandemic.

The Sustainable Recovery report, published Thursday,

360 Digital Closing Bell 6-18-2020

360 Digital Closing Bell 6-18-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 8 min summary of the energy markets.  

Extremely flat day in the market  - Oil at $38.84

International News Desk:  Schlumberger

Source: Reuters

UBS raises Brent forecasts, sees undersupplied oil market

Reuters


UBS raised its forecasts on Thursday for the price of Brent crude this year, citing expectations of an undersupplied oil market as demand starts to pick up on the back of a recovering global economy.

“Supply is being curbed …

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

CNBC


Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from …

Source: Reuters

Oil prices broadly stable after mixed U.S. data

Reuters


LONDON – Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks and bears looked at rising crude stocks and new coronavirus cases.…

Source: CNBC

BP outlines how quickly global carbon emissions would need to fall to reach net zero by 2050

CNBC


The chief executive of energy giant BP said Wednesday that to get to net zero by 2050, the world would need to see lockdown-like reductions in carbon emissions every other year for the next 25 years.

In the London-based …

360 Digital Closing Bell 6-17-2020

360 Digital Closing Bell 6-17-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 8 min summary of the energy markets.  

Oil lowest day in the week at 37.68 at closing and almost flat on the

Source: Reuters

Column: Oil prices likely to average less than $60 over next cycle – Kemp

Reuters


LONDON  – Oil prices are likely to average less than $60 per barrel across the next cycle to ensure production, especially from the shale sector, remains in line with the slow increase in consumption.

On Monday, BP announced its …

Saudi Aramco completes $69 billion Sabic deal, extends payment window amid oil hit

Saudi Aramco completes $69 billion Sabic deal, extends payment window amid oil hit

CNBC


Saudi Aramco completed the purchase of its 70% stake in the kingdom’s petrochemical giant Sabic from the Saudi Public Investment Fund, it announced Wednesday, tying the knot on one of the largest ever deals in the global chemicals industry.…

Source: Reuters

OPEC sees gradual oil demand recovery, makes 84% of cuts in May

Reuters


LONDON – OPEC forecast on Wednesday a gradual recovery in global demand for oil, which has been hammered by the coronavirus crisis, and said record supply cuts by producers were already helping to rebalance the market.

In a monthly …

Source: CNBC

Major oil executives ‘optimistic’ amid anxiety over coronavirus ‘second wave’

CNBC


Sixteen of the world’s leading energy executives met virtually at an unprecedented meeting Tuesday night to talk about how big oil will navigate its biggest crisis in recent history while confronting the coronavirus pandemic.

“Each one of us …

June 17, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source:Reuters

Oil falls on fears of more COVID-19 cases

Reuters


LONDON – Oil prices fell on Wednesday on fears about fresh outbreaks of COVID-19 but prices drew some support from stimulus measures and positive tests of a drug that could save some critically ill patients.

Brent crude LCOc1 was …

360 Digital Closing Bell 6-16-2020

360 Digital Closing Bell 6-16-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail.  The best 8 min summary of the energy markets.  

Bankruptcy is the topic of the year. - 

International News Desk:  Saudi Aramco completes SABC

Haynes and Boone Replay: Weekly Energy Tracker Call  06-16-2020

Haynes and Boone Replay: Weekly Energy Tracker Call 06-16-2020

Oil and Gas 360


Weekly Energy Tracker Call (06/16/20)

Haynes and Boone, AEGIS and EnerCom welcome you to a weekly series of webex meetings to discuss business and legal issues erupting in the oil and gas world, including bankruptcy …

Source: Reuters

How negative oil prices revealed the dangers of the futures market

CNBC


A historic drop occurred on April 20,  when the price of West Texas Intermediate crude dropped by almost 300%, trading at around negative $37 per barrel.

The price of oil has steadily recovered, jumping by nearly 90% in May