India Looks At Myanmar’s Oil And Gas

03/06/17 •lweb.es/f2709 •bit.ly/2pfbPTV

gas, India, Oil

“The prospect of deepening Myanmar-India ties are very interesting and could potentially be quite wide,” said Michal Meidan, Asia Energy Policy Analyst at Energy Aspects. “Indian refiners are increasingly looking to sell products to Myanmar in order to tap a growing market. This makes sense both on the geopolitical level where India is increasingly seeking regional influence – and Myanmar will be pleased to hedge against China, and in terms of Indian refiners’ corporate needs to deepen their presence in new markets,” she added.

Gulf Of Mexico Lease Sale To Reduce Dependence On Foreign Oil

03/06/17 •lweb.es/f2717 •bit.ly/2nWZ0NX

Oil, USA

73 million acres offshore Texas, Louisiana, Mississippi, Alabama, and Florida will be offered for oil and gas exploration and development. The proposed lease sale scheduled for August this year would include all available unleased areas in federal waters of the Gulf of Mexico, and is part of President Trump’s plan to make the United States energy independent. The estimated amount of resources projected to be developed as a result of the proposed lease sale ranges from 0.211 to 1.118 Billion barrels of oil and from 0.547 to 4.424 Trillion cubic feet of gas.

Hess CEO Sees Global Oil Supply Crunch Looming

03/06/17 •lweb.es/f2714 •bit.ly/2okjF1o

Oil, Shale, suppliers, World

A significant, years-long oil supply crunch may be approaching due to insufficient investment in exploration and production, Hess CEO John Hess said at the IHS CERAWeek, and this will begin showing up in declining offshore supply. He added that “The shale business is back in business and starting to grow again,” but such growth in US shale would not be enough to meet global oil demand, which the International Energy Agency has projected to grow between 1.4-1.6 million barrels a day over this year and the next.

Saudis Defending Sales Against Rising U.S. Exports

03/06/17 •lweb.es/f2713 •bit.ly/2oOa8ks

Asia, markets, Oil, prices

Saudi Arabia has cut the pricing for some of its April oil sales to Asia, showing that it is trying to lure buyers toward its lighter and less sulfurous crude varieties. “This came as a complete surprise to the market,” said Tushar Tarun Bansal, director at Ivy Global Energy in Singapore. “This is a signal from the Saudis that they are serious about market share and pricing crude competitively, and would even be open to changing the methodology if the need arises.” This is the producer’s latest effort to defend sales in Asia.