GDP – Oil & Gas 360

ACCF study: U.S. petroleum export ban would negatively affect refineries, employment, GPD

July 22, 2022

World Oil As the White House and Congress weigh policy levers to provide relief to consumers from rising gas prices, a proposed ban on petroleum exports has become part of the discussion. A new study released by the American Council for Capital Formation examines the short-to-medium term logistics, pricing, and economic impacts of a complete ban on U.S. petroleum product exports. It concludes

JPMorgan becomes first major bank to say first-quarter GDP will decline because of Covid surge

November 20, 2020

CNBC JPMorgan economists now see an economic contraction in the first quarter due to the spreading coronavirus and related restrictions being imposed by states and cities. The new forecast is a departure from Wall Street’s widely held view that the first quarter would be positive, with an improving economy throughout 2021. The JPMorgan economists said they expect the economy to

The GDP report next week will likely show record-breaking economic growth, but it may not help Trump

October 21, 2020

CNBC The economy regained nearly 4 million jobs during the quarter, and that was after 7.5 million in May and June. Housing sales and builder confidence has been remarkable, and shoppers easily outpaced expectations in September with retail sales rising 1.9%, nearly tripling the Wall Street estimate. Moreover, corporate executives remain confident. The Conference Board’s CEO Confidence index, a gauge that measures the

GDP is now projected to fall nearly 53% in the second quarter, according to a Fed gauge

June 2, 2020

CNBC Economic activity in the second quarter has been cut by more than half, according to a tracker employed by the Atlanta Federal Reserve. The GDPNow outlook is now showing a 52.8% tumble, following data Monday that U.S. manufacturing remains firmly in decline and will weigh on investment and consumption. That data from the Institute for Supply Manufacturing showed just 43.1% of

Oil Gains on U.S. Economic Data, Gulf Crude Tanker Dispute

July 26, 2019

From Reuters Oil prices inched up on Friday, ending the week higher after stronger-than-expected U.S. economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Strait of Hormuz threatened supply. Brent crude futures LCOc1 settled at $63.46 a barrel, up 7 cents. They clocked a weekly rise of about 1.7%. U.S. West Texas

US Economy Slowed to 2.1% Growth Rate in Second Quarter

July 26, 2019

From AP News The U.S. economy slowed sharply in the April-June quarter even as consumers stepped up their spending. The gross domestic product, the economy’s total output of goods and services, grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first quarter, the Commerce Department estimated Friday. But consumer spending, which drives about 70%

Canadian Dollar Hits 18-Month Low

December 21, 2018

From The Globe and Mail The Canadian dollar was little changed against the greenback Thursday but hit a 1-1/2-year low earlier in the session and underperformed other G10 currencies, as investors worried that the slumping price of oil could hurt Canada’s economy. Oil prices hit their lowest in more than a year on worries about oversupply and the outlook for

Goodrich Petroleum: Focused on Haynesville through 2019

May 15, 2018

All CapEx in 2018 and 2019 focused on Haynesville Goodrich Petroleum Corporation (ticker: GDP) had a net loss of $5.3 million in the first quarter of 2018, or $(0.47) per share. Capital expenditures totaled $21 million in the quarter, of which $20.6 million was spent on D&C and $0.4 million on other expenditures, Goodrich said. All of Q1’s total capital

Total and Aramco will Build a $9 Billion Petrochem Complex Next Door to SATORP Refinery

April 11, 2018

Saudi Aramco and Total (ticker: TOT) have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia. Located next to the SATORP refinery in the same industrial area, the complex will comprise a mixed-feed steam cracker (50% ethane and refinery off-gas) with a capacity of 1.5 million tons per year of ethylene and related high-added-value

Goodrich Petroleum Plans to Invest Funds in Additional Haynesville Drilling, Zipper Fracs

March 13, 2018

Goodrich Petroleum Corporation (ticker: GDP) has updated and accelerated its preliminary capital expenditure budget for 2018, following the recent $23 million asset sale. For 2018, the company’s board of directors approved a $20 million increase to $85-$95 million to accelerate development in its core Haynesville Shale acreage position. The company anticipates drilling 21 gross (8.7 net) horizontal wells for the

What’s Next for the Economies of China and India?

November 22, 2017

Since 1990, China and India have accounted for 57% of the total increase in world energy consumption Earlier this week the EIA put out data that revealed that the world’s developing countries used higher amounts of electricity than OECD countries. In a graph, the heavy users were China, India, Brazil and Egypt, with the U.S., UK and Japan being close

EnerCom’s Presenting Companies Gastar, Goodrich, and Gran Tierra Report for Q2

August 4, 2017

Three companies that will be presenting at EnerCom’s 22nd The Oil & Gas Conference® have reported financial and operational updates for the second quarter of 2017. Gastar Exploration Gastar Exploration (ticker: GST) indicated today that it averaged 6,100 BOEPD in production—a number that exceeded its guidance for the quarter. Liquids made up 73% of total production. The company’s president and

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