Energy News

Chinese Tariffs on US Gas Exports May Shift the LNG Market

Chinese Tariffs on US Gas Exports May Shift the LNG Market

China is the number 2 importer of LNG globally while the U.S. is climbing up the ranks of major LNG exporters

From CNBC

China’s threats of new tariffs on $60 billion worth of U.S. imports will create shifts in the …

August 10, 2018 - 1:27 pm Closing Bell Story‎, Energy News, LNG
Malaysia LNG Exports Hit 4-year Low: Pipeline Issues — Sources

Malaysia LNG Exports Hit 4-year Low: Pipeline Issues — Sources

From the Borneo Post

Malaysia’s exports of liquefied natural gas (LNG) fell to a four-year low in July as domestic gas pipeline issues plaguing the country since January took their toll, according to industry sources and Thomson Reuters data.

Natural …

August 10, 2018 - 1:14 pm Closing Bell Story‎, Energy News, LNG
Courtesy of RSP Permian

Shut in Wells Put Abraxas Petroleum in the Red in 2Q

From the San Antonio Business Journal

Temporarily shutting down production at 18 oil wells put San Antonio-based Abraxas Petroleum Corp. in the red during second quarter, the company reported after stock markets closed Tuesday.

Abraxas (Nasdaq: AXAS) reported a $10.8 …

Exxon Seeks to Establish Long-Term Contracts for U.S. Oil Exports

Exxon Seeks to Establish Long-Term Contracts for U.S. Oil Exports

From Bloomberg

Oil major is in talks with Asian refiners on term deals: sources

Exxon Mobil Corp. is courting refiners with rare long-term U.S. crude export deals, according to people familiar with the matter, as the company expands its trading …

While U.S. Oilpatch is ‘Shooting the Lights Out’, Canada Sits on the Sidelines

While U.S. Oilpatch is ‘Shooting the Lights Out’, Canada Sits on the Sidelines

From the Calgary Herald

The president of Ensign Energy Services says the North American market is bifurcated. Others consider it a geographic divide.

Regardless of the terminology, there’s a big difference in sentiment facing oilpatch drillers active in the United …

August 9, 2018 - 3:15 pm Canada, Closing Bell Story‎, Energy News, Oilfield Services
Source: University of Colorado

Boulder City Council Advances Pollution Tax on Oil & Gas Drilling

Drilling companies would be taxed up to $6.90 per barrel, $0.88 per Mcf for hydrocarbons extracted within Boulder city limits

From the Boulder Daily Camera

Boulder’s City Council wasted little time Tuesday night in advancing two measures aimed at potential …

Discrepancy Over Saudi Oil Data Could Rattle Markets

Discrepancy Over Saudi Oil Data Could Rattle Markets

From The Wall Street Journal

Saudi Arabia has pressed independent energy analysts to alter their estimates of its oil production, people familiar with the matter said, a move that could put it in conflict with other members of the fractious …

August 9, 2018 - 2:56 pm Closing Bell Story‎, Crude Oil News, Energy News
Canadian Oil Has Plunged to its Deepest Discount in Five Years

Canadian Oil Has Plunged to its Deepest Discount in Five Years

From CBC/Reuters

The price gap between the Canadian oilsands benchmark and the more widely used American one has risen to its widest level in more than five years.

The price of the heavy type of oil that comes out of …

August 8, 2018 - 3:30 pm Canada, Closing Bell Story‎, Commodity Pricing, Energy News
China Tariff Threat on U.S. LNG Shifts Momentum Toward $25 Billion in Pacific LNG Projects Awaiting FIDs

China Tariff Threat on U.S. LNG Shifts Momentum Toward $25 Billion in Pacific LNG Projects Awaiting FIDs

Australian LNG producers could win from the US-China trade war

From the Australian Financial Review

China’s threatened tariffs on US liquefied natural gas imports could help Woodside Petroleum, Santos and Oil Search get more than $US25 billion of LNG projects …

August 8, 2018 - 2:20 pm Closing Bell Story‎, Energy News, LNG
Iraq to Comply with U.S. Sanctions on Iran: PM

Iraq to Comply with U.S. Sanctions on Iran: PM

From France24/AFP

BAGHDAD (AFP) – Iraqi Prime Minister Haider al-Abadi said Tuesday he would reluctantly comply with renewed US sanctions on neighbouring Iran, but recalled his country’s 12 years under international embargo.

“We don’t support the sanctions because they are …

August 8, 2018 - 1:53 pm Closing Bell Story‎, Energy News
Pipeline Bottlenecks Deliver High Refiner Margins

Pipeline Bottlenecks Deliver High Refiner Margins

Record U.S. crude production and pipeline bottlenecks have helped to lower oil costs for refiners, boosting margins

From the Wall Street Journal

American fuel makers are posting their best second-quarter profits in years, thanks to soaring domestic oil production and …

August 8, 2018 - 1:26 pm Closing Bell Story‎, Downstream, Energy News
Oil Plunges to Nearly 7-Week Low amid U.S.-China Trade Tension

Oil Plunges to Nearly 7-Week Low amid U.S.-China Trade Tension

China said retaliates against U.S. tariffs by slapping additional import duties of 25 percent on $16 billion worth of American goods

China reports July crude oil imports showing shipments are at the third-lowest level this year

U.S. crude stocks fall

August 8, 2018 - 1:18 pm Closing Bell Story‎, Commodity Pricing, Energy News
Mt. Astra (Suezmax) Leaving Corpus Christi ship tanker

Another Deepwater Oil Port for Texas

Largest U.S. crude and condensate exporter in 2017 is behind the project

From Offshore Technology

Multinational commodities trader Trafigura has applied for permission to build a deepwater oil port in Texas, US, capable of accommodating supertankers, in order to increase …

The World vs. Shale: The Odds Are Narrowing – Wood Mac

The World vs. Shale: The Odds Are Narrowing – Wood Mac

From the Journal of Petroleum Technology

“Overall, the 10-year window shows the risk that shale faces as sweet spots are exhausted, while no new plays are being identified. … What happens when basin-specific risks emerge and you’re a pure play?” 

Elon Musk Says in Tweet He Is Considering Taking Tesla Private

Elon Musk Says in Tweet He Is Considering Taking Tesla Private

From The Wall Street Journal

Tesla Inc. Chief Executive Elon Musk jolted financial markets on Tuesday with a surprise proposal to take the electric-car maker private in what would be the biggest buyout in history.

About three hours into the …

August 7, 2018 - 5:58 pm Closing Bell Story‎, Energy News
Clean Energy Fuels Generates $70 Million Revenue with NatGas Transportation Fuel for Q2

Clean Energy Fuels Generates $70 Million Revenue with NatGas Transportation Fuel for Q2

Clean Energy Fuels Generates $70 Million Revenue with NatGas Transportation Fuel for Q2

August 7, 2018 - 4:05 pm Closing Bell Story‎, Energy News, Transportation
EIA Releases STEO

EIA Releases STEO

The EIA today released data on the main energy producing industries in the U.S, and its predictions for 2019.

Commodities pricing

In July 2018, Brent crude oil spot prices averaged $74 per barrel (b), which is largely unchanged from the …

Matador Resources Company Announces Offering of $700 Million of Senior Notes Due 2026

Matador Resources Company Announces Offering of $700 Million of Senior Notes Due 2026

Matador Resources Company (NYSE: MTDR) (“Matador”) announced today that, subject to market conditions, it intends to offer $700 million of senior unsecured notes due 2026 in a private placement to eligible purchasers. Matador intends to use the net proceeds from …

Quantum Energy Collects $5.6 Billion for Its Latest Fund

Quantum Energy Collects $5.6 Billion for Its Latest Fund

From The Wall Street Journal

Quantum Energy Partners has amassed nearly $5.6 billion for a new fund, a record for the private-equity firm as it rapidly pours more money into the oil patch.

The Houston-based energy investor in July closed …

August 7, 2018 - 10:52 am Closing Bell Story‎, Energy News
SM Energy Prices $500 Million Public Offering Of Senior Notes Due 2027

SM Energy Prices $500 Million Public Offering Of Senior Notes Due 2027

SM Energy Company (“SM Energy”) (NYSE: SM) announces it has priced an offering of $500.0 million aggregate principal amount of its 6.625% senior unsecured notes due 2027 (the “Notes”). The Notes will be issued at par. The offering is expected …

Kosmos Energy Dives Into Gulf of Mexico with $1.225 Billion Acquisition of Deep Gulf Energy

Kosmos Energy Dives Into Gulf of Mexico with $1.225 Billion Acquisition of Deep Gulf Energy

Kosmos Energy (NYSE: KOS) said it will acquire privately held Deep Gulf Energy, a deep-water company operating in the Gulf of Mexico from First Reserve and other shareholders for a total consideration of $1.225 billion.

This transaction will add approximately …

EnLink Midstream Launches Open Season for Avenger, EnLink’s Delaware Basin Crude Oil Gathering System

EnLink Midstream Launches Open Season for Avenger, EnLink’s Delaware Basin Crude Oil Gathering System

EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership or ENLK) and EnLink Midstream, LLC (NYSE: ENLC) (the General Partner or ENLC), announces that a subsidiary of the Partnership will launch a binding open season for volume commitments for common carrier …

OPEC: Too Close to Call - Oil & Gas 360

Oil Rises after OPEC Sources Say Saudi Crude Output Fell

U.S. oil transport infrastructure probably contributing price factor, with continued ‘pronounced increases’ in production slimming back due to pipeline constraints

From Reuters

NEW YORK (Reuters) – Oil futures rose on Monday after OPEC sources said Saudi crude production unexpectedly fell …

August 6, 2018 - 1:27 pm Closing Bell Story‎, Commodity Pricing, Energy News
Newest Push in the Permian: LNG in the Oilfields

Newest Push in the Permian: LNG in the Oilfields

Micro LNG plants opens way to truck natural gas to oilfields

From Bloomberg

It’s abundant, cheap and may slow down need to burn gas off. It’s called micro LNG, and the concept is simple. By super-cooling natural gas, they can …

August 3, 2018 - 2:43 pm Closing Bell Story‎, Energy News, Oilfield Services
China’s Unipec Suspends US Oil Imports

China’s Unipec Suspends US Oil Imports

From Reuters

China’s Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday.…

Courtesy of Enbridge

Enbridge en Route to Returning 760 MBOEPD of Capacity

From Reuters

Enbridge Inc (ENB.TO) (ENB.N) said on Friday it had completed 40 percent of replacement work on its massive Line 3 pipeline and reported a better-than-expected quarterly profit by reining in costs.

Canada’s largest pipeline operator won a key …

LNG Projects Ramping Up in Response to Growing Market

LNG Projects Ramping Up in Response to Growing Market

From the Alaska Journal of Commerce

Oil and gas companies are responding to the growing market for liquefied natural gas by ending their hiatus from new projects, while more liquefaction capacity is coming online in Russia, Australia and the U.S. …

August 3, 2018 - 12:23 pm Closing Bell Story‎, Energy News
TransCanada’s Keystone XL Peaks Oil Shipper Interest

TransCanada’s Keystone XL Peaks Oil Shipper Interest

From Reuters

Pipeline operator TransCanada Corp is seeing strong interest from oil shippers in locking up the remaining space on Keystone XL and expects it to be fully subscribed, its chief executive said on Thursday.

TransCanada has not yet made …

Source: Novatek

Russian Icebreaking LNG Carrier Sets Record Gas Delivery to China: 7 Days and Change

First vessel in a series of 15 icebreaking LNG carriers on order can sail independently through ice of up to 2.1 meters thick

From MarineLog

Christophe de Margerie, the icebreaking LNG carrier owned and operated by Russia’s Sovcomflot (SCF Group), …

August 3, 2018 - 12:02 pm Closing Bell Story‎, Energy News, LNG
Economic Weathervane Toyota Sees Itself Driving into a Fierce Storm

Economic Weathervane Toyota Sees Itself Driving into a Fierce Storm

What GM used to be to America, Toyota is to Japan: a weather vane for macro trends. On Friday, the carmaker admitted it is downhill from now

From Asia Times

If you want to know where Asia’s No. 2 economy …

August 3, 2018 - 10:59 am Closing Bell Story‎, Energy News