Wednesday, February 26, 2025
Natural Gas Pipeline - Oil & Gas 360

U.S. Sees 51 Bcf Natural Gas Injection

The EIA reported that the U.S. natural gas inventory reached 3,401 Bcf in the week ended August 26, 2016, representing a build of 51 Bcf from the previous week. Economist surveyed by Bloomberg expected an averaged build of 42 Bcf, 18% less than the actual build.

Shale Boom

BP Deepens Shale Ties with China

BP signs second shale gas production sharing contract with China National Petroleum Corporation International oil major BP (ticker: BP) said Thursday that the company has signed its second shale gas production sharing contract with China National Petroleum Corp (CNPC). The contract with the state-owned company covers an area of about 1,000 square kilometers at Rong Chang Bei in the Sichuan

Canada

U.S. Oil Storage Build is Louder than OPEC’s Promises

Oil prices fall as crude storage climbs Oil fell more than 3% Thursday despite hopes that OPEC might freeze production. Investors were more concerned with this week’s crude oil stockpile build than talk from OPEC after the EIA announced a 2.3 MMBO build in storage for the week ended August 26. Both Brent and WTI crude oil prices climbed more