Argentina’s Vaca Muerta: $1.15-billion In Shale Gas Investments

18/07/17 • •

Argentina’s state-run oil firm YPF, France’s Total, Wintershall Energía and BP unit Pan American Energy has announced a $1.15-billion joint investment to increase shale gas production in Vaca Muerta, one of the world’s largest shale formations. The partners had already invested $500 million in the areas between 2014 and 2016. In March, Argentina’s Tecpetrol said it would invest $2.3 billion in the Vaca Muerta shale fields through 2019, marking the biggest announcement related to the formation in years. Vaca Muerta contains 308 trillion cubic feet of shale gas and 16.2 billion barrels of shale oil.


France: All New Oil And Gas Exploration To Be Banned

06/24/17 • •

France is to stop granting licences for oil and gas exploration as part of a transition towards environmentally-friendly energy. Nicolas Hulot, the “ecological transition” minister said a law would be passed in the autumn.​ ​French President Emmanuel Macron said he was opposed to exploration for gas and favoured a ban on fracking during his election campaign, particularly in the overseas territory of French Guiana. Around 75 per cent of France’s electricity is currently provided by nuclear power stations… a law was passed last year, however, to reduce the nuclear proportion to 50 per cent by 2025.


China’s LNG Growth: The U.S. Is Keen For A Slice Of The Pie

05/14/17 • •

A new agreement between the U.S. and China has the potential to alter global LNG trade, opening the door of the world’s largest LNG growth market to the world’s fastest-growing LNG supplier. Falling under the framework of the U.S.-China Comprehensive Economic Dialogue, Chinese companies can now negotiate long-term contracts to source liquefied natural gas from U.S. suppliers. According to Wood Mackenzie: “The wider agreement represents a win for both sides. It allows President Trump to deliver on his pledge of redressing global trade imbalances and China to show its commitment to becoming an equal trade partner.”


Shale Gas: Exploration Licenses In South Africa’s Karoo Basin

05/15/17 • •

Africa’s government may award its first shale gas exploration licenses by the end of September, after environmental objections delayed the process. The five license applications under review are for exploration in the semi-arid Karoo basin. “If the decision is made this year the exploration rights will be valid for a period of three years, exploration activities should commence within three years,” indicated the South African Petroleum Agency, PASA. South Africa is seeking to replace its dwindling offshore gas reserves and reduce reliance on coal to fuel power plants.


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

04/15/17 • •

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 • •

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 • •

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 • •

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 • •

“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 • •

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 • •

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.