- Joe Barone, Shale Directories
- Blog
- March 23, 2020
Gas prices to remain low over the next two years: Fitch 📉
Fitch Ratings has trimmed its natural gas price forecasts both for the U.S. and European benchmarks on the back of “very large” market oversupply, Kallanish Energy reports.- 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 23, 2020
Global gas flaring reaches 4.6 Tcf in 2019: GlobalData
Oil and gas producers have flared over 4.6 trillion cubic feet (Tcf) of natural gas globally in 2019, foregoing as much as $24 billion in revenues, Kallanish Energy learns.- Joe Barone, Shale Directories
- Blog
- March 17, 2020
Crude oil prices plummet on growing surplus
Crude oil prices plummeted on Monday as the coronavirus’ fast spread around the world is killing global oil demand, and supply continues surging, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 12, 2020
Saudi Arabia, UAE to flood oil markets in April
As the coronavirus outbreak is declared a pandemic by the World Health Organization, Saudi Arabia and the UAE announced they are increasing crude supply to the market in April by around 3 million barrels per day (Mmbpd), Kallanish Energy reports.- 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 10, 2020
Oil prices collapse 30%, may dip into $20s
Saudi Arabia added fuel to an already burning oil market by slashing its crude oil prices to Europe, Asia and the U.S.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Oil price rout to trigger major industry shake-up: WoodMac
The oil price rout may trigger a major industry shake-up, and U.S. independent companies may be forced to act sooner than later, Kallanish Energy learns from Wood Mackenzie experts on Monday.- Joe Barone, Shale Directories
- Blog
- March 6, 2020
Opec proposes 1.5 Mmbpd cut until end of 2020
Opec agreed on Thursday to recommend an additional 1.5 million barrels per day (Mmbpd) of oil production cuts until the end of 2020, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 6, 2020
PetroChina declares force majeure on gas, LNG: report
China’s largest oil and gas producer, PetroChina, has reportedly declared force majeure on import contracts of natural gas and LNG, as demand collapses.- Joe Barone, Shale Directories
- Blog
- March 6, 2020
ExxonMobil to earmark $33B on 2020 capital spending
Population growth, an expanding middle class and global prosperity are driving a worldwide demand for oil, natural gas and chemicals, according to ExxonMobil.- Joe Barone, Shale Directories
- Blog
- March 4, 2020
Chevron to invest $80B in dividends, share buybacks
Chevron Corp. plans to spend around $75-80 billion on dividends and shareholder buybacks in the next five years, funded largely by growing production in the Permian Basin of West Texas and New Mexico, Kallanish Energy reports.- 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
- February 28, 2020
Crude falls for 5th day on demand concerns
Crude oil prices fell for a fifth straight trading day Thursday, to their lowest point in 13 months, as a growing number of new coronavirus cases outside China fueled fears of a pandemic, which could slow the global economy and lower crude demand.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Upstream’s biggest coronavirus fear is prices
Wood Mackenzie said Thursday the biggest commercial fear for the upstream oil and gas sector from the coronavirus epidemic is its impact on commodity prices, not project delays, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
Coronavirus outside China obstructs oil market recovery
The further spread of the coronavirus outside China has gotten in the way of the oil market recovery, and is forcing markets to re-assess the severity of the headwinds ahead, IHS Markit said this week.- 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
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 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
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
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 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 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 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 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 21, 2020
Sinopec to review potential $16B Cheniere deal: sources
China’s Sinopec is planning to review terms of a potential $16 billion liquefied natural gas supply deal with Cheniere Energy, industry officials told Reuters.- Joe Barone, Shale Directories
- Blog
- January 17, 2020
Citi believes there’s an ‘ultimate cap’ on oil prices
The cost of producing electricity from solar energy in the last two years has been lower than that of fossil fuels — and that “permanent change” will limit how high oil prices can climb, according to Citibank, Kallanish Energy understands.- 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 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 10, 2020
Oxy soon to begin cutting jobs post-Anadarko takeover
Occidental Petroleum said Wednesday it would begin cutting personnel in a new cost-cutting move following its $38 billion acquisition of Anadarko Petroleum, Kallanish Energy learns.- 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 8, 2020
Iran attacks US bases in Iraq
Iran retaliates the killing of Qasem Soleimani by firing more than a dozen ballistic missiles against U.S.-led coalition forces in Iraq, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- January 6, 2020
Tenaris closes $1.1B buy of pipemaking rival
Luxembourg-based steel pipe maker Tenaris said last week it’s closed the $1.07 billion acquisition of IPSCO Tubulars from Russian steelmaker TMK, becoming the largest steel pipe maker in North America, Kallanish Energy reports.- 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 19, 2019
Crude Oil down slightly after smaller-than-expected US inventory fall
Crude oil prices slightly fell Wednesday after Energy Information Administration data showed a decline in crude inventories and on expectations for an increase in demand in 2020 due to progress in resolving the U.S.-China- 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
Oil rises, but US-China trade war impacts outlook
Crude oil prices slightly rose Tuesday as Opec+’s deal last week to raise output cuts in 2020 continued to provide a floor for prices.- Joe Barone, Shale Directories
- Blog
- December 5, 2019
Oil up on eve of Opec meeting
Crude oil gained roughly 4% Wednesday, as a larger-than-expected drop in U.S. inventories and hopes of deeper production cuts from Opec+ lifted prices, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- December 4, 2019
Oil up and down prior to Opec meeting
Crude oil moved along a bumpy price track Tuesday ahead of Opec’s bi-annual meeting, which kicks off Thursday in Vienna, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- December 4, 2019
Amazon announces new solar projects in US, Spain
Amazon Tuesday released details of a trio of renewable energy projects in the U.S. and Spain, as the retail giant works to reach net zero carbon across its organization by 2040, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- November 29, 2019
Steel players in energy face challenging 2020
The new year will likely be challenging for steel players in the energy sector, market sources tell Kallanish, sister publication of Kallanish Energy.- Joe Barone, Shale Directories
- Blog
- November 28, 2019
NA, Asia to contribute 55% of new trunk line length
North America and Asia are projected to dominate global oil and gas new-build pipeline length additions, according to data and analytics company GlobalData.- Joe Barone, Shale Directories
- Blog
- November 27, 2019
Oil gains as optimism rises on US-China talks
Crude oil prices slightly rose Tuesday after news U.S. and Chinese officials had discussed trade, while predictions for a weekly draw on U.S.- Joe Barone, Shale Directories
- Blog
- November 22, 2019
Crude jumps on hopes of longer Opec cuts
Crude oil prices rose more than 2% Thursday, following a Reuters report Opec+ members are likely to extend output cuts until mid-2020, while new signs emerged China had invited U.S.- Joe Barone, Shale Directories
- Blog
- November 22, 2019