Several key new projects approved in Northeast Utica and Marcellus; 50 more in process Without pipelines to take Marcellus and Utica natural gas and liquids production to the markets that need the gas, the shale boom stagnates—it’s been a problem in the Northeast since shale gas drilling took off over a decade ago. But with the loud cry for takeaway
The EIA reported today that the U.S.’s expenditures for delivered energy totaled $1.127 trillion, or 6.2% of the nation’s GDP, in 2015—the lowest since 2004. The decrease was approximately 20% lower than expenses in 2014, which totaled a little over $1.4 trillion. Decreases in transportation prices Transportation expenditures made up approximately 45% of the $1.127 trillion, or about $507 billion.
Pioneer’s Scott Sheffield points to the Permian’s full potential, Cheniere CCO Anatol Feygin touts U.S. LNG export growth at the EIA 2017 Energy Conference It’s been an interesting week or two for U.S. energy on the world stage. The new administration’s pro-energy development posture has gone into overdrive. From energy-focused cabinet leaders mandating studies as to the need for new
International oil prices are contingent upon both the worldwide growth in oil production and the worldwide growth in oil inventories. Understanding the balance of these movements, and interpreting those movement is undertaken by the Energy Information Agency (EIA) and the International Energy Agency (IEA), in order to better evaluate and predict oil price movements. In the U.S., and across the
Global crude inventories will decrease build rate through 2018, EIA predicts In its recently released Short Term Energy Outlook, the EIA outlined its predictions for global production and consumption through 2018. An increase in production and seasonal drop in consumption is expected to push an increase in global crude inventories of 2.0 million BPD in the fourth quarter of 2016,
The EIA released its newest energy consumption and production projections today in its newest release of Annual Energy Outlook 2017. Across most cases, natural gas production increases despite relatively low and stable natural gas prices, supporting higher levels of domestic consumption and natural gas exports. Projections are sensitive to resource and technology assumptions, the EIA said. U.S. natural gas consumption
The EIA reported the number of uncompleted wells rose for the first time since July The Energy Information Administration (EIA) released its monthly Drilling Productivity Report Monday. The November report forecasts that both oil and gas production in the United States will decline by 20 MBOPD and 94 MMcf/d, respectively, and also noted that the number of drilled but uncompleted
EIA report predicts production to drop in every region except the Marcellus and the Permian The Energy Information Administration released its monthly drilling report Monday forecasting production will fall throughout many of the basins in the United States in November compared to this month, even as new rigs continue to produce more on a per-rig basis. The report, called the
July 27, 2016 CRUDE OIL INVENTORY/000 BBLS Week Ended 7/22/2016 Current Inventory: 521,133 Actual Build/(Draw): 1,671 Economist Average Estimate: (2,020) Previous Inventory: 519,462 Crude oil storage increased for the first time after nine weeks of storage draws. Economist’s estimates called for a draw of 2 million barrels, but the week’s data showed a build of 1.7 million barrels
In the last two days, three reports have been released with current data and predictions for the oil market moving forward. Yesterday, the Oil Market Reports for July were released from both OPEC and IEA, as well as the crude oil storage report from API. This morning brought the Weekly Petroleum Status Report from EIA. This smorgasbord of data has
Nine-Year, $5 Billion Expansion Project Complete The Panama Canal was opened in 1914, and for a century, shippers have realized a more efficient route to Asia. But during more than a century of use, ships have increased in size and capacity, but the shortcut between the Atlantic and Pacific has not, until this past weekend. Based on six years of
The U.S. House of Representatives passed the FY17 National Defense Authorization Act (NDAA), which authorizes $602 billion in funding for the Department of Defense and the national security programs of the Department of Energy. While defense spending has little effect on the oil and gas market compared to other factors, there was a provision in the bill that will affect
