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US revises up oil price forecasts for 2019
- Energy Information Administration revises up Brent oil by $2 per barrel for this year
Puerto Rico LNG imports return to pre-hurricane level
- LNG imports of Caribbean nation declined in 2017 as electricity outages required less natural gas after Hurricane Maria
Oil prices mixed as Brent crude hovers around $71
- Benchmark reaches $71.34 a barrel -- its highest level this year
Brent oil above $70 a barrel with tight global supply
- The benchmark gained 31 percent since the beginning of 2019
US natural gas production breaks new record in 2018
- Gas production rises 11 percent from previous year, marking largest annual increase on record
Oil prices seek balance with supply cuts, low demand
- Prices fluctuate with lower supply from major producers and unease over weakening global oil demand this year
US oil stocks, production fall for week ending March 8
- Crude inventories down by 3.9 million barrels, against market estimate increase of 2.6 million barrels
Oil prices up with fall in US crude stocks, production
- Decline in inventories and output alleviates some investors' worries over rising, global oversupply
US crude exports to catch up with Saudi Arabia by 2024
- Crude exports estimated to reach 9 million barrels per day in five years, International Energy Agency says
13.03.2019
analysis
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Oil prices up as US lowers crude production estimates
- Downward revision eases worries by anticipating that glut of supply in global market will be less than previously predicted
13.03.2019
Oil
US crude exports to catch up with Saudi Arabia by 2024
- Crude exports estimated to reach 9 million barrels per day in five years, International Energy Agency says
US energy admin. increases Brent oil forecast for 2019
- Brent price is expected to average $63 per barrel this year, up $2 a barrel from previous month's estimate
Oil prices up as Iran, Venezuela production due to fall
- Two countries are expected to account for a total of 1.76 million barrels per day in lost production
Natural gas: leader in US electric capacity in 2018
- Over 60 percent of electricity capacity installed in U.S. last year came from natural gas
Venezuela to pay $8.7B compensation to ConocoPhillips
- A tribunal ruled that ConocoPhillips’ investments in three oil projects in Venezuela violated international law
Global oil rig count rises in February: Baker Hughes
-Total number of oil rigs worldwide rises 1.5 percent to 2,306 in February 2019 from same period last year
US natural gas processing capacity shows rise 2014-2017
- 510 natural gas processing plants in Lower 48 states at end of 2017, with processing capacity of 80.8 bln. cubic feet daily
Oil down with weak Eurozone estimates, Chinese exports
- Chinese exports fall in February, signaling future weaker oil demand
ExxonMobil expects earnings to rise 140 percent by 2025
- Company says estimated total earnings potential has increased by around $9 billion
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US power hits record in residential, commercial sectors
- Net electricity generation in US increases by 4 percent in 2018 to reach record high level
Rise in oil prices limited by surge in US crude stocks
- Crude stocks in US soar by 7.1 million barrels compared to market expectation of 1.2 million barrel increase
US crude stocks supersede market forecast w/e March 1
- Crude inventories jump 7.1 million barrels against market estimation of 1.2 million barrels
US' Venture Capital gets LNG export approval
- Company is authorized to export up to 48.14 million cubic meters per day of LNG from its Louisiana facility
Oman’s gas production to surpass oil by 2023: Rystad
- Country's gas share in its oil-gas mix is estimated to be over 50 percent in 2025, from around 35 percent in 2015
ExxonMobil, Chevron to ramp up Permian output in 5 yrs.
- Companies plan to increase output in oil-rich basin by around 1 million barrels a day each
Oil prices down as US majors plan to raise production
- US crude oil output stands at record high level of 12.1 million barrels a day
Nuke restarts in Japan to replace LNG imports
- Five nuclear reactors that were shut down after Fukushima disaster in 2011 restarted operations in 2018
S&P revises Mexico's Pemex outlook to negative
- Pemex decision comes three days after Standard & Poor's revises down Mexico's outlook
Cheniere's 1st LNG train in Texas facility completed
- Train 1 is one of three LNG trains that will have total production capacity of up to 13.5 million tonnes per annum
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Aker Energy finds oil offshore Ghana
- Company says it will continue drilling to verify estimated volume of resources
Oil prices down as China lowers growth forecast
- China lowers growth expectation for 2019 to between 6-6.5 percent from previous estimate of 6.5 percent
Shell joins consortium for waste-to-chemicals facility
- Facility will be first in Europe to make chemicals and biofuels out of non-recyclable waste materials
US shale output to grow 15% in 2019 with 5% lower capex
- Shale operators aim to prioritize cost discipline over aggressive growth, Rystad Energy partner says
US biofuels trade, prod. to remain stable through 2020
- Ethanol exports have accounted for an increasing share of production since 2013, administration says
ExxonMobil to enlarge Louisiana facility's production
- Expansion is part of $20 billion investment to build manufacturing facilities in US' Gulf region
Oil prices end week higher as OPEC sticks to cuts
- Prices recover after Trump's comment to OPEC warning of too high oil prices
01.03.2019
Oil
OPEC saved oil collapse, US stopped chaos: Barkindo
- "Decisions that OPEC took literally rescued this industry from total collapse," Secretary General Barkindo says
Chesapeake's net income rises in 4th qtr, falls in 2018
- Net income soars 54 percent in final quarter of 2018, but declines 8 percent for full year
Saudi min. replies to Trump, says OPEC 'taking it easy'
- Energy minister Khalid Al-Falih says OPEC is 'taking a very slow and measured approach'
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Seven oil, gas majors establish blockchain consortium
- Offshore Operators Committee Oil & Gas Blockchain Consortium is first in oil and gas industry for blockchain technology
Oil prices retreat after factory output falls in Japan
- World's third largest economy posts biggest decline in factory output in a year
US crude production hits new record high w/e Feb. 22
- World's largest crude producer sees output of 12.1 million barrels a day
US shale ind. acts as "market without a brain": BP head
- "US is the only country that completely responds to market signals, like a market without a brain," Dudley says
ExxonMobil replaces 313% of oil & gas reserves in 2018
- Company adds 4.5 billion barrels to its reserves
Oil giants amass $1.6 trillion in total revenue in 2018
- Oil giants record massive 73.7 percent increase in collective year-on-year net income in 2018
Oil down as investors await US, China trade talks
- Trade deal between world's two largest economies could provide positive sentiment for global economy and oil demand
UK's RockRose to buy Marathon Oil ops. in North Sea
- Deal will add 13,000 barrels of daily oil equivalent production in 2019 and represents Marathon Oil's exit from UK
Fitch places Venezuela's CITGO on negative rating watch
- Agency warns negative rating action could be taken if CITGO fails to replace lost PDVSA oil volumes
Oil prices down with Trump's OPEC criticism
- Crude prices lose 3.3 percent after Trump tweets 'oil prices getting too high'
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Trump slams high oil prices, urges OPEC to 'relax'
- 'World cannot take a price hike - fragile!' says US President
US fracking declines 25 percent in second half of 2018
- November and December fracking activity is negative year-over-year, research firm says
Exxon to use Microsoft cloud tech. for oil production
- Cloud technology will cover oil industry's largest acreage in U.S.' oil-rich Permian Basin
New oil, gas projects to triple in 2019: Rystad Energy
- Total volumes could be more than 46 billion barrels of oil equivalent this year, research firm says
UAE's ADNOC seals $4 bln. pipeline infrastructure deal
- Company to hold 60 percent majority stake and manage pipeline operations
Equinor natural gas sales increase 29 percent in 2018
- Second-largest gas supplier to Europe sells $26 billion worth of gas last year and sees further demand growth towards 2030
US crude oil output hits new record high w/e Feb. 15
- World's biggest crude producer sees output reaching 12 million barrels a day
Oil prices up as indecisive Fed pushes dollar lower
- The word "patient" was used 12 times in Fed minutes, as members look divided on rate hike decision
Number of oil rigs in US rises by 3 to 857
- Despite the rise in oil rig count, crude prices gain more than 2 percent
US oil producer Apache cuts budget expenditure for 2019
- Company lowers capital budget for this year to $2.4 billion, from previous plan of $3 billion
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Chevron is 1st US energy major to tie pay to emissions
- Company targets reduction of methane emissions intensity by 20 to 25 percent from 2016 to 2023
ExxonMobil makes two new discoveries offshore Guyana
- New discoveries add to previously announced recoverable resources of more than 5 billion oil equivalent barrels
Total SA income, revenue rise through record production
- Hydrocarbon production reaches record level of 2.8 million barrels oil equivalent per day in 2018, up 8.9 percent from 2017
US electricity mix to highly depend on gas prices: EIA
- Share of natural gas in US electricity generation is estimated to reach 40 percent by 2032, from 34 percent in 2018
US crude stocks rise, production remains at record high
- Crude oil inventories increase by 1.3 million barrels last week
ExxonMobil, Qatar Petr. to invest $10B for LNG exports
- Golden Pass LNG export project to have annual LNG production capacity of around 16 million tons
Oil prices down after Trump's address to Congress
- President says trade with China needs 'structural change'
Global deepwater output to reach record high this year
- Deepwater production around the world is estimated to surpass 10 million barrels per day in 2019, Rystad Energy report says
Chevron revenue, earnings increase in 4Q18
- Earnings jump 19 percent and revenue rises 11 percent
ExxonMobil earnings fall, revenue rises in 4th qtr. '18
- Earnings down 28 percent, but revenue up 8 percent
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Baker Hughes sees nearly 8 pct revenue increase in Q4'18
- Oilfield services firm posts $6.26 billion revenue in period October-December
ExxonMobil to form 3 upstream firms for business revamp
- Reorganization will strengthen upstream business and integrate it with downstream and chemical segments
US Sunoco P/line LP to pay $5.4M to settle 3 oil spills
- Three oil spills took place in US states of Texas, Louisiana, and Oklahoma during 2013, 2014, and 2015
Chevron agrees to buy Texas refinery for $350 million
- Refinery can process 110,000 barrels a day of light crude and has storage capacity of 5.1 million barrels of oil products
US natural gas liquids production forecast to grow: EIA
- Production is estimated to grow by 32 percent between 2018 and 2050
Oil down awaiting verdict on US, China trade talks
- Trump says he will meet with Chinese President Xi Jinping in near future to discuss long-standing trade issues
ConocoPhillips sees net income, revenue rise in 4Q18
- Revenue and net income increase by more than 18 percent in final quarter of 2018
Shell posts over 40 percent income rise in 4th qtr.
- Company sees a 46.7 percent jump in net income
Hess posts capex rise, net loss reduction in 4th qtr.
- Company's portfolio is forecast to have break-even Brent price of less than $40 per barrel by 2025, CEO says
2018 is record year for US wind: Wind Energy Assn.
- Contracts for wind capacity rises 66 percent from previous year
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ExxonMobil to begin major refinery expansion in Texas
- New unit to increase crude refining capacity by more than 65 percent, or 250,000 barrels per day
US major to lead gas-for-power project in Vietnam
- The project could generate $20 billion in revenue for the Vietnamese government
Half of US coal mines operating in 2008 have closed
- Number of active coal mines declined 53 percent between 2008 and 2017
Oil gains as US Federal Reserve suspends rate hikes
- Central bank removes "further gradual increases" text from its latest statement
US crude stocks rise, production falls slightly
- Crude oil inventories see rise of 900,000 barrels last week
Railways to benefit more for energy, environment: IEA
- Rail carries 8% of passengers and 7% of freight globally, but only represents 2 percent of transport energy demand
US to export more energy than it imports by 2020: EIA
- Rise in oil and gas production expects to outpace growth in consumption
US posts largest CO2 emission rise in 2018 since 2010
- CO2 emissions from natural gas, which rose nearly 10 percent in 2018, drove most of the overall increase
US trying to tip balance in Venezuela via oil sanctions
- Washington's move will likely 'lead to a large loss of export earnings in the next few months,' expert says
Oil prices up ahead of US Federal Reserve meeting
- US central bank unlikely to make a rate hike, according to CME Group's FedWatch Tool
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BP invests $5M in US firm for artificial intelligence
- The technology will apply machine learning and cognitive computing in BP's oil and gas businesses
Oil prices up as US sanctions Venezuelan oil firm
- Sanctions to significantly diminish Venezuela's oil exports
US coal production declines in 2018: Energy Info. Admin
- Coal output declines despite rising exports, brought down by low consumption
Oil prices down with rising rig count at start of week
- Number of oil rigs in US rises for first time this year
Global slowdown worries keep oil prices under pressure
- Brent crude, the most widely used benchmark, loses 3 percent in week amid worries over economic slowdown
GE begins to digitize thermal, renewable power in India
- Company has two deals to optimize 8 gigawatts of thermal and renewable power
US crude inventories rise, production declines slightly
- Crude oil inventories rise by 8 million barrels last week
Eni signs exploration deals with Oman, Bahrain and UAE
- Italian energy giant signs separate oil and gas exploration deals to enhance its presence in Middle East
UK opens national decommissioning center on energy
- Center will focus on technologies and economics of pipeline, platform decommissioning
Iraq’s oil production doubles in decade: EIA
- Crude oil production in Iraq rose 113 percent between 2007 and 2017NATURAL GAS MARKET (TL / 1000Sm³)
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