U.S. natural gas futures rose for a third straight session and hit their highest in more than two weeks on Tuesday, continuing to build on expectations of a dip in production going forward. Front-month gas futures for June delivery on the New York Mercantile Exchange were 6.9 cents higher, or 2.9%, at $2.44 per million …
The EV Impact on Oil Consumption As the world moves towards the electrification of the transportation sector, demand for oil will be replaced by demand for electricity. To highlight the EV impact on oil consumption, the above infographic shows how much oil has been and will be saved every day between 2015 and 2025 by …
How EV Adoption Will Impact Oil Consumption (2015-2025P) Read More »
HOUSTON, May 16 (Reuters) – U.S. oil refiners aim to run at up to 94% of a total 17.9 million barrels per day processing capacity this quarter, according to company forecasts and analysts, driven in part by expectations of seasonal travel demand. Strong prices and demand since late 2021 have encouraged refiners to run above …
US refiners build new oil processing as travel rises Read More »
A resurgence of wildfires across Canada’s main energy-producing province in recent days prompted some drillers to suspend portions of their production again, and officials are warning of worsening conditions in the days ahead. There were 90 active wildfires in Alberta as of Monday afternoon, with 23 considered out of control, Christie Tucker, a spokeswoman for …
Return of Fires in Canada’s Gas Region Prompts New Outages Read More »
(Reuters) – Portfolio investors are very bearish about the outlook for oil in the short term even though prices are already below their long-term average in real terms. Hedge funds and other money managers sold the equivalent of 17 million barrels in the six most important futures and options contracts over the seven days ending …
COMMENTARY: Funds Bearish on Oil Even After Price Slide Read More »
U.S. oil output from the seven biggest shale basins is due to rise in June to the highest on record, data from the Energy Information Administration showed on Monday. Oil output is set to rise by 41,000 barrels per day (bpd) to 9.33 million bpd, the EIA said. Crude output in the Permian Basin in …
U.S. Shale Production Set to Rise to Highest on Record in June Read More »
GEORGE SHARPE / INVESTMENT MANAGER, MERRION OIL & GAS Politicians’ mandated path to net zero emissions by 2050 will not work. The politicians who are mandating a path to net zero carbon emissions by 2050 certainly didn’t do the math to net zero, because the math in their path doesn’t add up. Let’s count the …
Commentary: Net Zero Sounds Great – but the Math Doesn’t Add Up – George Sharpe Read More »
(Reuters) – Activist investor Elliott Investment Management on Monday urged NRG Energy (NRG.N) to make leadership and capital allocation changes, and called the U.S. utility’s recent acquisition of Vivint Smart Home a “strategic misstep”. The company’s shares rose 4.5% to $34.21 in early trading after Elliott’s letter. Elliott called for a review of the company’s home …
Activist investor Elliott pushes for change at NRG Energy Read More »
By Geoffrey Cann A large integrated oil and gas company has invited me to address their global center for data excellence. That such an organizational creation is necessary is both telling for some and enlightening for others. Bus ta Move Many years ago, I helped a bus operator that provided worker transportation to oil and gas facilities with …
Creating A Data Culture in Oil and Gas – Geoffrey Cann Read More »
May 12 (Reuters) – The U.S. Treasury Department on Friday clarified that developers of solar energy projects can claim a new subsidy for facilities built with American-made products even if the system’s panels contain cells made entirely with Chinese materials. The long-awaited rules around how companies can claim a new tax credit for clean energy …
U.S. Treasury Takes Middle Road on Solar Panels ‘Made in the USA’ Read More »
