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Industry News

  • EIA forecasts renewables will be fastest growing source of electricity generation
    on January 18, 2019 at 1:00 pm

    EIA expects non-hydroelectric renewable energy resources such as solar and wind will be the fastest growing source of U.S. electricity generation for at least the next two years. EIA’s January 2019 Short-Term Energy Outlook (STEO) forecasts that electricity generation from utility-scale solar generating units will grow by 10% in 2019 and by 17% in 2020. According to the January STEO, wind generation will grow by 12% and 14% during the next two years. EIA forecasts total U.S. electricity generation across all fuels will fall by 2% this year and then show very little growth in 2020. […]

  • Oil is Going to be Very Much Demand Driven
    on January 18, 2019 at 12:00 am

    Oil is going to be very much demand driven, according to Arqaam Capital. […]

  • IEA Sees Oil Demand Growth Defying Slowing Economy
    on January 18, 2019 at 12:00 am

    Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the IEA. […]

  • Oil Hits Two-Month High
    on January 18, 2019 at 12:00 am

    Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy. […]

  • EIA expects relatively flat natural gas prices, continued record production through 2020
    on January 17, 2019 at 1:00 pm

    EIA’s January 2019 Short-Term Energy Outlook (STEO) expects several U.S. natural gas market trends from 2018 to continue into 2019 and 2020, including relatively stable Henry Hub natural gas prices and increasing natural gas production and exports. According to the STEO, total U.S. natural gas consumption is expected to increase slightly through 2020, with increases in the electric and industrial sectors offsetting decreases in the residential and commercial sectors. […]

  • Crude Oil Settles Lower
    on January 17, 2019 at 12:00 am

    The American Petroleum Institute also reported a sharp year-on-year increase in well completions. […]

  • US Will Likely Grant Fewer Waivers in May
    on January 17, 2019 at 12:00 am

    The United States will likely grant fewer waivers to buyers of Iranian oil when they're up for renewal in May, according to IHS Markit. […]

  • Oil Retreats Near $52
    on January 17, 2019 at 12:00 am

    Oil retreated near $52 a barrel as investors assessed surging U.S. production against output curbs pledged by some of the world's top suppliers. […]

  • Oil May Bring 400,000 Jobs and $258B in Investments to Brazil
    on January 17, 2019 at 12:00 am

    The secretary general of the Brazilian Institute of Petroleum, Gas and Biofuels said that in the next few years, the oil industry will bring more jobs and investments to Rio de Janeiro. […]

  • EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020
    on January 16, 2019 at 1:00 pm

    EIA’s January Short-Term Energy Outlook forecasts that world benchmark Brent crude oil will average $61 per barrel (b) in 2019 and $65/b in 2020, an increase from the end of 2018, but overall it will remain lower than the 2018 average of $71/b. U.S. benchmark West Texas Intermediate (WTI) crude oil prices were $8/b lower than Brent prices in December 2018, and EIA expects this difference to narrow to $4/b in the fourth quarter of 2019 and throughout 2020. […]

  • Oil Holds Gain Near $52
    on January 16, 2019 at 12:00 am

    Oil held gains near $52 a barrel on optimism the OPEC+ coalition's production curbs will clear a supply glut. […]

  • Oil Futures Edge Upward
    on January 16, 2019 at 12:00 am

    Despite cold temps in much of the US, natural gas is down again. […]

  • Offshore Service Spending to Outpace Onshore Shale
    on January 16, 2019 at 12:00 am

    Research from Rystad Energy reveals that we'll see spending in the offshore service sector outgrow spending on onshore shale this year. […]

  • Survey: Oil and Gas Hiring in Houston Flat in 2019
    on January 16, 2019 at 12:00 am

    A survey of Houston energy executives, HR staff and hiring managers expect little to no change this year in regards to hiring and company growth. […]

  • Canadian Oil Grades Weaken
    on January 16, 2019 at 12:00 am

    Prices for Canadian oil fell relative to U.S. futures as Alberta Premier Rachel Notley expressed hope her government would be able to back off mandatory production curtailments in April. […]

  • Changes in marine fuel sulfur limits will put temporary upward pressure on diesel margins
    on January 15, 2019 at 1:00 pm

    The January 2019 Short-Term Energy Outlook (STEO), released at noon today, for the first time includes analysis of the effect that upcoming changes to marine fuel sulfur specifications will have on crude oil and petroleum product markets. Beginning January 1, 2020, the International Maritime Organization’s (IMO) new regulations limit the sulfur content in marine fuels used by ocean-going vessels to 0.5% by volume, a reduction from the previous limit of 3.5%. The change in fuel specification is expected to put upward pressure on diesel margins and modest upward pressure on crude oil prices in late 2019 and early 2020. EIA’s analysis indicates that the price effects that result from implementing this new standard will be most acute in 2020 and will diminish over time. […]

  • Crude Oil Bounces Back
    on January 15, 2019 at 12:00 am

    Tuesday's trading bolstered the case for the 2019 crude oil comeback story. […]

  • Oil Halts Drop Near $51
    on January 15, 2019 at 12:00 am

    Oil halted its retreat near $51 a barrel on forecasts for a drop in U.S. inventories and as a rebound in equities signaled investor interest in risk assets was improving. […]

  • Libya's Haftar Plans to Secure Oil Areas
    on January 15, 2019 at 12:00 am

    Forces allied to Khalifa Haftar have entered the city of Sebha as part of a campaign to secure the country's lawless south and protect its oil-producing infrastructure, his spokesman says. […]

  • Policy Creating Hurdles for Canada's Oil Patch
    on January 15, 2019 at 12:00 am

    The goal of Premier Rachel Notley's mandated production cut is to reduce the storage glut and get oil prices back to profitable levels. […]

  • Oil Demand to Grow Steadily in 2020s
    on January 15, 2019 at 12:00 am

    Oil demand will grow steadily in the 2020s and peak in the late 2030s, according to Rystad Energy's current long-term outlook. […]

  • Permian Shale Oil Boom Holds Mixed News for OPEC
    on January 15, 2019 at 12:00 am

    For OPEC, good news often comes hand-in-hand with bad news. […]

  • Natural gas-burning power plant operations vary during periods of cold weather
    on January 14, 2019 at 1:00 pm

    Power generation in New England and New York is largely dependent on natural gas, which accounts for more than half of the region’s electricity generating capacity. About 58% of New England’s natural gas capacity has dual-fuel capability, meaning it can switch to other fuels such as petroleum-based fuels. Data from the U.S. Environmental Protection Agency’s (EPA) continuous emissions monitoring system (CEMS) reveals how certain plants in New England and New York switch between fuels in certain situations. […]

  • Lesar Pursues New Oil Patch Venture
    on January 14, 2019 at 12:00 am

    The retired Halliburton executive plans to start an oilfield services company. […]

  • Crude Oil Slides Again
    on January 14, 2019 at 12:00 am

    Oil and natural gas futures moved in opposite directions. […]

 
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