Friday, November 29, 2024
Finding Costs Drop to 10-Year Low - Oil & Gas 360

Oil Differentials Have Shrunk, But Canada and the Permian Face Diverging Futures

Both regions have seen relief from 2018’s wide discounts By Richard Rostad, analyst, Oil & Gas 360 Producers in the Permian and Canada are enjoying relief from the punishing differentials seen last year, as new developments in both regional supply and takeaway normalize markets. However, this relief may be short-lived. The Midland-WTI differential attracted significant attention last year, as booming

Shale Suffers Growing Pains That Could Slow U.S. Oil Production

From Bloomberg The dramatic ramp-up in U.S. shale production is running into a combination of issues — technical and financial — that threaten to slow the pace of expansion, according to some of the industry’s biggest companies. Schlumberger Ltd. and Halliburton Co., two of the largest providers of oil services, said Monday there will be a double-digit drop in spending from customers in the

A Flood of U.S. Oil Exports Is Coming

From Bloomberg Oil trader Paul Vega is at the vanguard of shale’s next revolution. Driving his pick-up truck through the heartland of the Permian basin — the vast tract of west Texas scrub where one of history’s greatest oil booms means miles-long traffic jams — Vega says there’s more crude being pumped than America’s refineries can absorb. Today, the primary

Petroleum exports from Russia to the U.S. are growing rapidly as the supplier takes advantage of lost deliveries from sanctions-hit Venezuela and supply cuts by OPEC members. - Oil & Gas 360

Low Sulfur Rule May Cost Saudis and Neighbors Billions

From Bloomberg The world’s biggest oil-exporting region may lose billions of dollars in annual revenue when an obscure United Nations requirement for ships to burn cleaner fuel takes effect next year. Saudi Arabia, Iraq and other Middle Eastern suppliers of heavy, high-sulfur crude could take a hit as refiners favor lighter, low-sulfur grades that they can process more easily into