IEA: Oil Market Near Balance But US Production Could Rise Again

04/15/17 •lweb.es/f2772 •bit.ly/2oO1aQs

Now is the halfway point for the 6-month oil production cuts agreed by OPEC and the 11 other oil producing countries, and the market is very close to balance. The International Energy Agency has observed that “Even at this midway point, we can consider what comes next … extending their output cuts beyond the 6-month mark would be bigger implied stock draws. This would provide further support to prices, which in turn would offer further encouragement to the US shale oil sector and other producers.”

North Sea: 30 Crude & Natural Gas Projects To Start Operations By 2020

04/13/17 •lweb.es/f2766 •bit.ly/2pjWUch

30 crude and natural gas projects are expected to start operations in the North Sea by 2020. The UK will lead with a total of 19 projects, followed by Norway with 10 and Denmark with a single project, according to GlobalData. The total recoverable reserves for these projects are expected to stand at 5.2 billion barrels of oil equivalent. The planned projects in the North Sea They are expected to require a total capital expenditure of $56.7 billion, of which over half (54%) is expected to be spent between 2017 and 2020.

MENA Region: Pushing Through Critical Energy Projects This Year

04/08/17 •lweb.es/f2700 •bit.ly/2oTUalv

In the Middle East North Africa region $622 billion worth of development is planned in the energy sector for the next five years. The power sector accounts for the largest share at $207 billion, with the oil and gas sector at $195 billion and $159 billion respectively. Leading the drive will be Saudi Arabia, and Iraq and Iran will play catch-up. Algeria will pump billions into its upstream sector, and much is expected from Egypt’s recent gas. Renewable-energy projects will be at the forefront of efforts to meet rising power demand in Morocco, Tunisia and Jordan.

U.S. Natural Gas Pipeline Projects Certificated In 2017

03/07/17 •lweb.es/f2715 •bit.ly/2obKovd

Last year the Federal Energy Regulatory Commission (FERC) certificated 17.6 billion cubic feet per day of new natural gas pipeline capacity, and so far this year the Commission has certificated more than 7 Billion cubic feet per day. The seven projects certificated during the first few weeks of 2017 include more than 1,500 miles of natural gas pipeline construction and expansions. The pipeline projects are concentrated in the eastern half of the United States to improve access to markets for growing eastern natural gas production, and they have projected 2017 and 2018 in-service dates.

India Looks At Myanmar’s Oil And Gas

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

“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.

Southeast Asia’s Oil & Gas Sector: Opportunities For Growth

03/13/17 •lweb.es/f2708 •bit.ly/2oO44IK

According to Rigzone’s Ideal Employer Survey the top three attributes that oil and gas professionals value most in an employer are “a commitment to health and safety”, “competitive salary” and “positive organizational culture”. With respect to the “ideal employer”, the first three rankings go to Royal Dutch Shell, Exxon Mobil and Chevron, both globally and in the Southeast Asia region. Southeast Asia has suffered with the global oil glut but it still has opportunities for growth. InvestKL, for example, is working closely with PETRONAS to help attract large global multinational oil and gas companies.

EIA: U.S. Expected To Become Net Exporter Of Natural Gas By 2018

02/29/17 •lweb.es/f2648 •bit.ly/2peDp3W

The transition of the U.S. to net exporter of natural gas by 2018 is to be driven by declining pipeline imports, growing pipeline exports, and increasing exports of liquefied natural gas. The Sabine Pass facility in Louisiana became the first operating LNG export facility in the Lower 48 states in 2016. By 2021, four LNG export facilities are expected to be completed with a combined operational export capacity of 9.2 billion cubic feet per day. The EIA also projects the U.S. to become a net exporter of total energy in the 2020s.

India Steps Up Efforts To Boost Domestic Oil And Gas Production

lweb.es/f2658 02.17.2017

Following its first oil and gas field auction in six years India has decided to award the bulk of the operating licenses to new players. The operating licenses are for 31 contract areas comprising 44 oil and gas fields and have been awarded under a revenue-sharing model. These contract areas would monetize 40 million metric tons of oil and 22 billion cubic metres of natural gas over 15 years for the Indian government. India’s oil demand growth will outpace China‘s for the third year in a row in 2017.

Gazprom And China Broadening Cooperation In Energy Sector

lweb.es/f2662 02.16.2017

Meetings have recently been held between Russia and China on energy: one between Gazprom and the State Council of the People’s Republic of China covering the collaboration between Gazprom and Chinese energy companies and financial organizations; and the other between Gazprom and CNPC which looked at the current progress and future prospects for gas deliveries from Russia to China, the possibilities for underground gas storage facilities and gas-fired power generation in China, as well as the use of LNG as a vehicle fuel along the Europe-China international transport route.