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All the latest in Oil, Gas, Commodity news and analysis

The World?s Most Innovative Gas Field
by Liubov Georges
20 Jan 2018 at 4:00pm
Appalachian gas production has surged over eighty five percent (from 13,837 bcf/d to 26, 027 bcf/d) since 2014. The region has one the most productive and economic gas acreage in the country, and today it produces more gas than all other shale plays in the United States combined. Now, with the slate of pipeline projects coming on-line in 2018 Marcellus and Utica molecules can finally reach end consumers in larger markets creating a more adequate price equilibrium throughout the United States regions. During cold winter months this will translate?

Luxury Automakers Pivot To EVs
by Jon LeSage
20 Jan 2018 at 2:00pm
Global automakers see electrified luxury cars as vital to being Tesla-competitive, government mandate-compliant, and standing out as high-performance innovative carmakers. Product announcements this week from Nissan?s Infiniti luxury brand and Volkswagen?s Porsche division tap into a larger story from last year. While global automakers are watching what Tesla is up to, an announcement in July by near-luxury brand Volvo seems to have had just as much impact on new vehicle product planning. The Japanese automaker is working to position?

New Importers Keep LNG Markets Tight
by Alan Mammoser
20 Jan 2018 at 12:00pm
As the U.S. and Australia join Qatar as major natural gas exporters, the LNG supply surge that began to materialize in 2014 continues. Yet despite growing supply, the long-anticipated glut in global LNG markets hasn?t occurred. Indeed, physical markets haven?t loosened, but remain tight as global demand continues to rise. This partly helps to explain this winter?s spike in Asian spot market prices, with the spread between European and Asian spot prices rising from almost nothing last summer to between $3 and $4 per MMBtu. The?

The UK May Renationalize Utilities
by OilPrice.com
20 Jan 2018 at 10:00am
Back in the heady days of Thatcherism, the British government sold just about all its commercial assets: the banks, steel company, airline, ports, and utilities. Most of these assets had come under government ownership after World War II when the Labor Party took control of government. As we have argued elsewhere (in the book Electricity Acts and in numerous articles), the problems afflicting those industries after the war did not require nationalization. But Labor decided nationalization was a solution to whatever the problem. The party's constitution?

European Gas Struggles Leave Bulgaria In A Tight Spot
by Scott Belinksi
20 Jan 2018 at 8:00am
Despite the EU?s best efforts to diversify suppliers, Russian gas exports to Europe grew by 8.1 percent to hit a record high of 193.9 billion cubic meters last year. More than a decade after Russia first shut off the spigot to Europe over a pricing dispute with Ukraine, Gazprom?s share of the EU gas market has increased from a quarter in the 1990s to a stunning one-third today. This worrying development comes at the same time Bulgaria, a country sitting squarely in Moscow?s long shadow, assumes the presidency of the EU Council?

U.S. On Track To Unseat Saudi Arabia AsNo.2 Oil Producer In the World
by Zainab Calcuttawala
19 Jan 2018 at 8:00pm
New forecasts from the International Energy Agency say the United States is on track to overtake Saudi Arabia as the second-largest oil producer in the world, just behind Russia, according to the organization?s report on Friday. "This year promises to be a record-setting one for the US," the IEA wrote in its monthly market report. "Relentless growth should see the US hit historic highs above 10 million barrels per day, overtaking Saudi Arabia and rivaling Russia during the course of 2018 ? provided OPEC/non-OPEC restraints remain in?

Senior Interior Dept. Official Says Florida Still On Trump?s Draft Drilling Plan
by Zainab Calcuttawala
19 Jan 2018 at 6:00pm
A senior official from the Interior Department (DOI) said Florida was still under official consideration for offshore drilling, despite an announcement by Secretary Ryan Zinke last week stating that the state would be granted an exemption from the draft drilling plan due to concerns about its potential to effect coastal tourism. Walter Cruickshank, the director of the Bureau of Ocean Energy Management, made the statement at a congressional hearing on Friday, during which he was questioned by California Rep. Jared Huffman and Orlando Rep. Darren?

Schlumberger Optimistic In 2018 For Oilfield Services Businesses
by Zainab Calcuttawala
19 Jan 2018 at 4:00pm
Schlumberger thinks that 2018 will be the year of recovery for the global oil industry after three years of ?unprecedented market downturn,? according to a new article by the Financial Times. Earnings in the fourth quarter of 2017 from upstream, midstream, and downstream operations were higher than expected, demonstrating why the leading oilfield services company had become ?increasingly positive on the global outlook for our business.? Oilfield services companies (OFC) have been hit hard by low oil prices since the crash?

Is This Small Correction In Oil Something To Worry About?
by Jim Hyerczyk
19 Jan 2018 at 4:00pm
Despite crossing to the strong side of a long-term 50% level earlier in the week to extend the rally, the price action late in the week strongly suggests that March West Texas Intermediate crude oil may have finally found enough resistance and selling pressure to form a top and fuel the start of a short-term correction. Since early December, crude oil has been on a tear as investors began to buy into the idea that the OPEC-led production cuts could tighten supply over the long-run. If you look at the timing of the price surge, however, you?ll?

Is OPEC Fighting A Losing Battle?
by Editorial Dept
19 Jan 2018 at 4:00pm
Friday January 19, 2018 In the latest edition of the Numbers Report, we?ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we?ll dig into some data and provide a bit of explanation on what drives the numbers. Let?s take a look. 1. Venezuela?s oil production plunges (Click to enlarge)- OPEC reports monthly production figures in two ways, one from secondary (independent) sources, and also using data reported to them from member governments. Venezuela has typically overstated?

Momentum Matters: It?s Time To Ride The Wave
by Dan Dicker
19 Jan 2018 at 4:00pm
I happened to have dinner this week with a very dear old friend from my days trading crude oil on the floor of the New York Mercantile Exchange. Ultimately, our conversation turned on our life of trading oil, and the fascinating experiences we?ve had watching oil prices gyrate over the past nearly 40 years. We?d seen massive spikes together, equally disastrous crashes and years upon years when oil prices barely moved at all. And, despite the many years we?d been observers and participants, we struggled to make even a few generalizations?

Did Schlumberger Just Become A Buy?
by Martin Tillier
19 Jan 2018 at 4:00pm
This morning, in the first major energy sector release of this earnings season, oilfield services giant Schlumberger (SLB) reported fourth quarter 2017 results. Each quarter, their earnings are regarded as a bellwether for the sector, so deserve attention, but this quarter they also resulted in an opportunity in SLB itself. The company issued a good report with in pretty much every way. They beat analysts? expectations on both revenue and earnings, and while they don?t issue a formal guidance, they did indicate that their market conditions?

Global Energy Advisory January 19, 2018
by Editorial Dept
19 Jan 2018 at 4:00pm
According to a growing number of analysts, OPEC may end its oil output cut deal with Russia before December 2018. Recent developments have been unequivocally bullish, but they may have gotten to a level where they have become too bullish for OPEC, Russia, and their smaller partners in the deal. With Brent at $70 a barrel, OPEC?s and Russia?s oil is becoming less competitive while U.S. producers continue to ramp up their own production, enjoying the discount of WTI to the international benchmark as well as to Russia?s Urals and?

The Least Compliant Country In The OPEC Deal
by Matt Smith
19 Jan 2018 at 3:00pm
Yesterday's monthly oil market report from OPEC showed that oil production from Kazakhstan likely increased by 180,000 bpd in 2017 to 1.74 million barrels per day. Such a rise gives Kazakhstan the unenviable accolade of being the most out-of-compliance producer in the OPEC / NOPEC production cut deal - surpassing Iraq (some feat). Digging into our export flows, we see a similar story of surging. Kazakhstan committed to cutting production by 20,000 bpd as part of the OPEC / NOPEC deal. According to our model, we should have seen a fairly commensurate?

Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends
by Zainab Calcuttawala
19 Jan 2018 at 2:00pm
Despite higher oil prices, only one-third of the Canadian oil patch jobs lost since 2015 are expected to return due to rapid technical innovation during the past three years of low oil prices, according to a new report by E&P Mag. ?The good news is that Alberta oil and gas companies are figuring out how to prosper and thrive in a low-price environment. The bad news is that the strategies that are allowing them to do that involve using fewer people and creating fewer jobs,? Gil McGowan, head of the Alberta Federation of Labour and?

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