- Joe Barone, Shale Directories
- Blog
- March 24, 2020
North Sea can survive the price rout: WoodMac
The North Sea can survive the ongoing storm in the oil and gas industry in the short-term, principal analyst at Wood Mackenzie Neivan Boroujerdi said on Monday.- Joe Barone, Shale Directories
- Blog
- March 24, 2020
Aker BP puts projects on hold, cuts capex by 20%
Norwegian-focused oil and gas producer Aker BP said Monday it will put non-sanctioned field development projects on hold as part of its updated investment program and financial framework.- Joe Barone, Shale Directories
- Blog
- March 23, 2020
Fitch cuts 2020 Brent price forecast by $21.50/Bbl 📉
Fitch Ratings revised down its short- and medium-term forecasts for crude oil prices, as the market is expected to be “massively oversupplied” in 2020, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 18, 2020
Equinor sets unit to deal with Covid-19, oil prices challenge
Norwegian oil major Equinor announced Tuesday it’s setting up a temporary corporate project to handle both short- and long-term issues raising from the coronavirus pandemic and low oil prices environment.- Joe Barone, Shale Directories
- Blog
- March 16, 2020
Canada’s Husky Energy trims capex, delays projects
Alberta-based Husky Energy has announced plans to trim $1 billion from its budget in 2020 in response to what it called “challenging” global market conditions with the lowest oil prices in three years.- Joe Barone, Shale Directories
- Blog
- March 11, 2020
Wind turbine order capacity breaks new record in 2019
Original equipment manufacturers (OEMs) have experienced a record amount of wind turbine capacity order globally, with figures nearly reaching 100 gigawatts (GW), Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 6, 2020
Mozambican learders must tackle security issues: Ayuk
Mozambican leaders must tackle security problems emerging in sites where international companies are developing liquefied natural gas (LNG) projects, NJ Ayuk, chairman of the African Energy Chamber warned this week.- Joe Barone, Shale Directories
- Blog
- March 4, 2020
Sandvik bags major stainless umbilicals order for Brazil
Swedish special materials producer Sandvik tells Kallanish Steel, sister publication of Kallanish Energy, that it has won a major order for tube for a Brazilian offshore application.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
Oil prices rebound on hopes Opec, central banks will act
Crude oil prices rebounded on Monday after the massive sell-off in commodities and equities last week, on hopes central banks will support their economies and the Opec+ alliance will not disappoint, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
BofA cuts crude price forecast by $8 a barrel
Strategists at the Bank of America’s Global Commodity Research have changed their 2020 forecast for crude oil prices by $8 a barrel, due to the impact of the coronavirus outbreak on the global economy.- Joe Barone, Shale Directories
- Blog
- March 2, 2020
Maduro revamps PDVSA leadership
Venezuela has named four new vice presidents for a quartet of units of state oil company PDVSA, as well as a new president for the unit that handles joint ventures with private oil companies, PDVSA announced Saturday.- Joe Barone, Shale Directories
- Blog
- March 2, 2020
US LNG production jumps 2016 to 2025: GlobalData
From roughly 1.2 billion cubic feet per day (Bcf/d) of export capacity in 2016, the U.S. will become the third largest liquefied natural gas (LNG) exporting country with a total capacity of 8.9- Joe Barone, Shale Directories
- Blog
- March 2, 2020
Mexico’s Pemex posts huge 2019 loss
Petroleos Mexicanos posted a $18.3 billion net loss for 2019 — nearly double the previous year’s loss and a major setback to Mexican President Andres Manuel Lopez Obrador’s efforts to revive the debt-saddled state oil company, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Eni ups Agogo field’s resources by 40%
Italian oil major Eni Thursday announced a 40% increase of estimated oil-in-place volumes at the Agogo oilfield, offshore Angola, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
Crude slides, tumbling deeper into bear market territory
Crude oil prices on average dropped more 2.5% Wednesday after hundreds of new coronavirus cases reported in Asia, Europe and the Middle East fired concerns energy demand would decline, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
US crude inventories climb in latest EIA survey
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Feb. 21, increased by 452,000 barrels from the previous week, the Energy Information Administration reported Wednesday.- Joe Barone, Shale Directories
- Blog
- February 26, 2020
Brent under $55, WTI under $50 after latest drops
Brent crude oil fell below $55 a barrel Tuesday, dropping for a third day, as fear of the spread of the coronavirus and its impact on oil demand outweighed Opec+ output cuts and Libyan supply losses, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- February 26, 2020
Coronavirus will meaningfully impact oil demand growth
Global oil production (crude oil and liquids) will increase by 0.7 million barrels per day (Mmbpd), to roughly 102.3 Mmbpd from fourth-quarter 2019 to fourth-quarter 2020, economists at the Federal Reserve Bank of Dallas, Texas, report.- Joe Barone, Shale Directories
- Blog
- February 25, 2020
Oman plans to install offshore wind farms in Arabian Sea
Oman reportedly is planning to build offshore wind farms in the Arabian Sea, a plan that complements the country’s desire to install and increase high power generation capacity from renewable resources, Kallanish Energy learns.- Joe Barone, Shale Directories
- Blog
- February 25, 2020
Oil slides, posts worst day in more than a month
Crude oil on average slid more than 3.5% Monday, falling into bear market territory as the number of coronavirus cases outside of China jumped, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 24, 2020
Brazil’s oil, natural gas output sets records in January
Brazil’s oil and natural gas production hit record highs in January, the Brazilian government said last week, Kallanish Energy learns. Last month’s oil production reached 3.17- Joe Barone, Shale Directories
- Blog
- February 21, 2020
LNG demand will double by 2040: Shell
Worldwide liquefied natural gas demand is expected to double by 2040 to 700 million tonnes, according to third party forecasts, Royal Dutch Shell reports in its Fourth Annual LNG Outlook, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 21, 2020
Crude gains on smaller-than-expected inventory build
Crude oil prices rose Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude inventories, Kallanish Energy reports. Gains, however, were held down by continuing worries about the spread of the Coronavirus outside China.- Joe Barone, Shale Directories
- Blog
- February 20, 2020
PDVSA shakeup designed to stop crude output plunge
Venezuela President Nicolas Maduro is expected to install new leadership at state oil company Petroleos de Venezuela SA, aka, PDVSA, as he hopes to end the crumbling of the nation’s oil industry, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- February 20, 2020
Oil jumps on slowing virus cases, US move on Rosneft unit
Crude oil prices jumped 2.4% Wednesday as traders’ worries eased about demand declining due to the spread of the coronavirus in China, while supplies tightened as the U.S.- Joe Barone, Shale Directories
- Blog
- February 19, 2020
Crude scarcely moves in Tuesday trading
Crude oil prices were little changed Tuesday, held down by concerns over the impact on crude demand from the coronavirus outbreak in China, and the lack of movement by Opec+ to further lower production.- Joe Barone, Shale Directories
- Blog
- February 18, 2020
Oil up as output cut hopes offset coronavirus concern
Crude oil prices were up slightly Monday as concerns over the economic impact of the coronavirus outbreak in China were offset by expectations potential Opec+ production cuts could tighten global crude supply.- Joe Barone, Shale Directories
- Blog
- February 17, 2020
US Henry Hub prices rise 14.5% from 2020 to 2021
In January, the Henry Hub natural gas spot price averaged $2.02 per million British thermal units (MmBtu), as warm weather contributed to below-average inventory withdrawals and put downward pressure on natural gas prices, the Energy Information Administration reports in its February Short-Term Energy Outlook (STEO).- Joe Barone, Shale Directories
- Blog
- February 17, 2020
Global petro, liquids forecast to fall: STEO
Global petroleum and liquid fuels demand will average 100.3 million barrels per day (Mmbpd) in the first quarter of 2020, the Energy Information Administration projects in its February Short-Term Energy Outlook (STEO).- Joe Barone, Shale Directories
- Blog
- February 14, 2020
Crude oil rises for third straight session
Crude oil prices rose Thursday, as investors hoped many of the world’s biggest oil producers would cut more output, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 13, 2020
US crude inventories jump in new EIA survey
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Feb. 7, increased by 7.46- Joe Barone, Shale Directories
- Blog
- February 12, 2020
Oil from US government leases tops 1 billion barrels in 2019
Crude oil production from federally-managed lands and waters topped a record 1 billion barrels last year, U.S. officials told The Associated Press, as shorter permitting times helped drive new development.- Joe Barone, Shale Directories
- Blog
- February 12, 2020
Oil rebounds from 13-month low
Crude oil prices inched up from 13-month lows Tuesday as the number of new coronavirus cases slowed in China, easing some concern over the potential for lengthy oil demand destruction, Kallanish Energy understands.- Joe Barone, Shale Directories
- Blog
- February 12, 2020
Coronavirus slashes 25% of global oil demand growth: Rystad
Global crude oil demand growth is expected to plunge by 25%, to 820,000 barrels per day (Bpd), this year due to the coronavirus outbreak, Rystad Energy said Tuesday.- Joe Barone, Shale Directories
- Blog
- February 10, 2020
Crude falls 1%, as Russia needs time to mull more cuts
Crude oil prices fell 1% Friday as Russia said it needed more time before committing to additional production cuts sought by other members of Opec+, even as the coronavirus outbreak caused questions about global crude demand.- Joe Barone, Shale Directories
- Blog
- February 7, 2020
Oil demand to peak around 2040 or ‘much sooner,’ IMF says
Global oil demand will peak around 2040 – or “much sooner” – the International Monetary Fund (IMF) said Thursday in a new report on oil’s future, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 7, 2020
Oil moves higher as traders eye production cuts
An Opec+ committee has recommended an additional cut in oil output totaling 600,000 barrels per day in response to the coronavirus’ impact on energy demand as it awaits Russia’s final position on the proposal, three sources told Reuters.- Joe Barone, Shale Directories
- Blog
- February 7, 2020
China to cut tariffs on $75B of US goods, including crude
China said Thursday it will cut in half tariffs on $75 billion of U.S. imports – including crude oil — as part of efforts to implement a recently-signed trade agreement with Washington, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 6, 2020
Tillerson: Not sure humans can impact climate change
Former Secretary of State and ex-CEO of ExxonMobil Rex Tillerson told an industry conference in Houston he questions whether there is anything humans can do to combat climate change, Bloomberg reported.- Joe Barone, Shale Directories
- Blog
- February 6, 2020
Venezuela exported 14% less oil in January, stocks still fell
Venezuela’s oil exports declined almost 14% in January from December, but crude oil inventories fell, helping state-run company PDVSA deal with a storage glut accumulated due to U.S.- Joe Barone, Shale Directories
- Blog
- February 5, 2020
Crude up as demand fear outweighs hope for more Opec+ cuts
Crude oil prices were little changed Tuesday as fear energy demand would be negatively impacted long-term by the coronavirus outbreak offset prospects for more crude production cuts by Opec+ members.- Joe Barone, Shale Directories
- Blog
- January 27, 2020
Oil patch bankruptcies soar in 2019: Haynes and Boone
If you thought 2019 seemed much like 2016 in terms of tough times in the oil patch, leading to bankruptcy filings, you’re dead on.- Joe Barone, Shale Directories
- Blog
- January 24, 2020
Phillips 66 CEO takes reins of oil and gas trade group API
The CEO and chairman of Phillips 66 has been named chairman of the oil and gas industry’s top trade group, the American Petroleum Institute (API), Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- January 21, 2020
Wind energy giant Vestas planning ‘zero-waste’ turbines
Danish firm Vestas said Monday it’s working to produce “zero-waste” wind turbines by the year 2040, Kallanish Energy reports. The wind turbine manufacturer said its goal would mean operating a value chain that produced no waste materials. This,- Joe Barone, Shale Directories
- Blog
- January 16, 2020
Oil down slightly after US-China trade deal, US product build
Crude oil prices were down slightly Wednesday, pressured early by data showing big increases in U.S. refined products, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- January 15, 2020
Global oil markets continue to remain roughly balanced
Global oil markets were roughly balanced in 2019, as oil supply declined slightly and global oil consumption grew at its slowest pace since 2011, the Energy Information Administration reported Tuesday in the January Short-Term Energy Outlook (STEO).- Joe Barone, Shale Directories
- Blog
- January 14, 2020
Oil markets will have to rethink global supply predictions
There could be a reworking of oil market expectations regarding an “ample” global oil supply, Bahrain’s oil minister said Monday, despite expectations U.S.- Joe Barone, Shale Directories
- Blog
- January 13, 2020
Crude slips as investors focus on US inventories
Brent crude oil slipped further towards $65 a barrel on Friday as tensions in the Middle East concerning Iran eased as investors focused on rising U.S.- Joe Barone, Shale Directories
- Blog
- January 13, 2020
Aramco raises IPO to record $29.4B by share over-allotment
Saudi Arabia-owned Saudi Aramco said Sunday it had exercised its over-allotment to sell an additional 450 million shares in the oil giant, raising the size of its initial public offering to a record $29.4- Joe Barone, Shale Directories
- Blog
- January 10, 2020
Oil falls as focus shifts from Iran tensions to US crude stocks
Crude oil prices fell further Thursday after sharp losses in the day-earlier session, as the market shifted its focus towards rising U.S.- Joe Barone, Shale Directories
- Blog
- January 9, 2020
Crude falls after Trump says Iran ‘appears to be standing down’
Crude oil prices continued to fall Wednesday after President Trump said Iran is standing down in the Middle East and the U.S.- Joe Barone, Shale Directories
- Blog
- January 3, 2020
Pemex’s plan to speed up drilling leads to re-bids
Efforts by Mexico’s national oil company, Pemex, to drill new wells at 20 “priority” fields largely using smaller, local service providers isn’t working, with the company expected to re-bid some of the work this year, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- December 27, 2019
Oil gains 1% on US-China deal expectations
Oil prices rose Tuesday in thin pre-Christmas trading after Russia said cooperation with Opec on supply cuts would continue and amid optimism the U.S.- Joe Barone, Shale Directories
- Blog
- December 23, 2019
Work on Nord Stream 2 may stop on Trump sanctions
Switzerland’s AllSeas Group SA said it would halt operations on the Nord Stream 2 natural gas pipeline from Russia to Germany, as President Trump approved sanctions targeting the project, Kallanish Energy learns.- Joe Barone, Shale Directories
- Blog
- December 20, 2019
Renewables’ share of powergen surpasses gas in UK
The UK saw electricity generation from renewables reach 28.8 terawatt-hours (TWh) in 2019’s third quarter, just passing natural gas-generated power, according to figures released Thursday.- Joe Barone, Shale Directories
- Blog
- December 12, 2019
EPIC ships 1st crude from Corpus Christi
Texas-based EPIC Crude Holdings said Wednesday one of its subsidiaries has loaded and launched the first shipment of crude oil from the IGC marine terminal, located on the Inner Harbor of the Corpus Christi (Texas) Ship Channel.- Joe Barone, Shale Directories
- Blog
- December 12, 2019
Crude oil falls on surprise US inventory build
Crude oil prices dropped roughly 1% Wednesday following a surprise build in U.S. crude inventories, and as investors waited to see if a new round of tariffs by Washington on Chinese goods would come into force Sunday.- Joe Barone, Shale Directories
- Blog
- December 11, 2019
Chevron hints at divesting Appalachian assets
Chevron hinted Tuesday its Appalachian shale assets could soon be up for sale, along with other parts of its asset portfolio, as the oil supermajor moves to “invest in the highest return, lowest risk projects … ,” Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- December 11, 2019