Oil and Gas 360 The United Arab Emirates (UAE) has attracted some big industry investors in its bid to challenge the U.S., Australia, and Qatar as the world’s leading LNG exporters. Shell and fellow European energy titans TotalEnergies and BP each take 10% of Abu Dhabi’s Ruwais project; Mitsui of Japan takes another 10%. The remaining 60% will be
Oil Price Record Permian production and increased efficiency across the shale patch have prompted many U.S. oil producers to raise their output guidace, which could boost American production above the expectations of limited gains for this year. Last week, the supermajors reported record oil and natural gas output from the top shale basin, the Permian. They also spoke of their plans to
Publisher’s Note: Jim Felton with EnerCom sat down with Chapman Nuclear CEO John Chapman, a fourth-generation nuclear scientist focused on the hunt for natural gas needed for his hydrogen fusion reactor projects with NASA and other clients. Chapman talks about the opportunities, economics and strategy for growing the company, which includes other business sectors such as radioactive isotopes for medical use.
World Oil (Bloomberg) –Carlos Slim, Latin America’s richest person, took advantage of the equity-market selloff to boost his majority stakes in two U.S. energy companies. Slim’s Control Empresarial de Capitales SA spent $24.2 million on the first two days of this month to snap up 923,000 shares of Talos Energy Inc. and 357,000 shares of PBF Energy Inc., according to
Oil Price Goldman Sachs expects a $75 per barrel floor under Brent Crude prices that is unlikely to be breached due to the current macroeconomic fears of a U.S. recession. Oil prices slumped by 6% in the past few days, dragged down by weaker-than-expected jobs data in the U.S. on Friday, which sparked a massive selloff in equity markets globally and in
World Oil (Bloomberg) – The selloff in global oil markets on perceived bad economic news was overdone because demand remains strong, according to top crude exporter Saudi Aramco. Brent crude dropped to almost $75 a barrel on Monday, alongside a rout in global stock markets, after a weaker-than-expected U.S. jobs report sparked fears of a recession. Prices stabilized on Tuesday
BOE Report The Trans Mountain oil pipeline expansion (TMX) was meant to shrink the discount on Canadian oil versus U.S. crude but three months in the differential is wider than when commercial operations on the project started. Many analysts had forecast the differential on Western Canada Select (WCS) versus U.S. crude would gradually narrow to single digits thanks to the
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