Energize Weekly, October 30, 2019 U.S. crude oil exports increased to an average 2.8 million barrels a day for first seven months of 2019, sending oil to as many as 31 different markets per month, according to the federal Energy Information Administration (EIA). The U.S. is now exporting oil to…
Energize Weekly, October 23, 2019 U.S. Gulf of Mexico crude oil production set a record in 2018 at 1.8 million barrels a day, according to the federal Energy Information Administration (EIA) Short-Term Energy Outlook. The record-setting trend is forecast to continue in 2019 with production hitting 1.9 million barrels a…
Energize Weekly, October 23, 2019 An International Monetary Fund (IMF) analysis says that a $75-a-ton tax on carbon emissions or a comparable fiscal policy needs to be in place by 2030 to limit global warming to 2 degrees centigrade, though it will lead to sharp increases in electricity and gasoline…
Energize Weekly, October 16, 2019 U.S. natural gas demand and supply are both forecast to hit record highs this coming winter – the result of growing exports, more gas-fired power generation and increased production from Texas’ Permian Basin, according to the Natural Gas Supply Association (NGSA). The association’s Winter Outlook…
Energize Weekly, October 9, 2019 Despite a string of bankruptcies and red ink, the future for U.S. shale drillers is not bleak, according to Oslo-based energy analyst Rystad Energy. “In a nutshell, we do not believe the recent bankruptcies that have beset a number of shale players are indicative of…
Energize Weekly, October 9, 2019 U.S. oil and gas sector mergers and acquisitions (M&A) ticked up in the third quarter of 2019 to more than $17 billion, putting M&A activity for the year-to-date at $85 billion, according to Enverus, an industry analytics company. After a weak start to the year,…
Energize Weekly, October 2, 2019 Facing the prospect of electricity shortages as soon as 2021, the California Public Utilities Commission (CPUC) staff has proposed extending the life of four natural gas-fired power plants that use ocean water for cooling. On Oct. 24, the CPUC is set to rule on the…
Energize Weekly, October 2, 2019 World energy consumption is projected to grow by 50 percent by 2050, with most of that demand coming from growing Asian economies, according to the federal Energy Information Administration’s (EIA) International Energy Outlook. “Energy consumption was greater in Asia than in any other region in…
Energize Weekly, September 11, 2019 The number of oil and gas rigs operating in the U.S. – on land and offshore – fell in September to less than 900 for the first time since 2017, according to the Baker Hughes North American Rig Count. There were 898 rigs operating on…
Energize Weekly, September 11, 2019 Natural gas prices in the Permian Basin are being bolstered as new takeaway pipeline capacity is opening in the western Texas fields. The natural gas price at the Waha Hub in western Texas reached $1.55 per million British thermal units (MMBtu) on Aug. 15, the…
Energize Weekly, September 4, 2019 The Colorado oil and gas industry is facing uncertain times as new state and local drilling regulations take hold, industry executives say, even as the state’s governor, Jared Polis, dismisses those concerns. That was the divide in sharp display the Colorado Oil and Gas Association’s…
Energize Weekly, August 28, 2019 The U.S. had one the largest absolute increases in oil and natural gas production for a single country in history in 2018, according to the federal Energy Information Administration (EIA). In 2011, the U.S. had already surpassed Russia as the world’s largest producer of natural…
Energize Weekly, August 28, 2019 Major U.S. shale operators, thanks to strong oil prices and more efficient operations, posted a sharp turnaround in the second quarter of 2019, showing positive cash flow for the first time on record, according to Rystad Energy, an Oslo-based energy consultant. In the second quarter,…
Energize Weekly, August 21, 2019 World energy production – spurred by coal and natural gas – was up 2.2 percent in 2017 to 14,035 million tons oil equivalent (Mtoe) when compared to 2016, according to the International Energy Agency (IEA). Coal and natural gas output were each up by more…
Energize Weekly, August 14, 2019 A record for daily U.S. natural gas consumption – 44.5 billion cubic feet (Bcf) – was set on July 15 as a heat wave took hold of the Midwest and Eastern Seaboard, according to S&P Global Platts. The previous record of 43.1 Bcf was set…
Energize Weekly, August 14, 2019 High corn prices and high inventories have squeezed operating margins for Midwest ethanol plants to multiyear lows in the first half of 2019, with an average margin of 3.5 cents a gallon, according to the federal Energy Information Administration (EIA). The high prices and inventories…
Energize Weekly, August 14, 2019 The economics for electric vehicles (EVs) and renewable energy charging have become so competitive that in the future, the price of oil will have to be no more than $10 a barrel to compete, according to analysis by Paris-based BNP Paribas. The analysis – Wells,…
Energize Weekly, August 7, 2019 U.S exports of liquefied natural gas (LNG), which have been steadily rising, hit 4.7 billion cubic feet a day in May 2019, as exporters added a growing European market to their Asian base. In 2019, the U.S. became the third largest LNG exporter in the…
Energize Weekly, July 31, 2019 Investment in the oil sector was $16.9 billion in the second quarter of 2019 – a 36 percent drop year-on-year and down 23 percent from the first quarter of 2019, according to Drillinginfo, an industry data analyst. The industry raised $3.4 billion from public stock…
Energize Weekly, July 24, 2019 Organization of the Petroleum Exporting Countries (OPEC) unplanned crude oil production outages hit a four-year high in the first half of 2019, according to the federal Energy Information Administration (EIA). The outages averaged 2.5 million barrels a day for the six-month period, the highest level…
Energize Weekly, July 24, 2019 Natural gas, despite growing concerns about its role creating greenhouse gases, continues to provide “quick wins” for carbon emissions reductions and clean air improvements, according to a study by the International Energy Agency (IEA). In the United States, for example, there has been a 70…
Energize Weekly, July 17, 2019 U.S. crude oil and petroleum liquids production hit a new record in April of 12.2 million barrels a day, according to the federal Energy Information Administration’s (EIA) Petroleum Supply Monthly. It is the first time U.S. production has surpassed 12 million barrels a day and…
Energize Weekly, July 10, 2019 The natural gas industry is making $1.3 trillion in infrastructure investments to create a global liquefied natural gas (LNG) market but those capital expenditures may be at risk from competitive renewable energy prices and the prospect of climate regulations, according to Global Energy Monitor. The…
Energize Weekly, July 10, 2019 Oil and gas industry merger and acquisition (M&A) activity in the second quarter of 2019 saw a rebound from the first quarter’s historic lows reaching $65 billion for the period, according to DrillingInfo, an industry consultant and data analyst. The quarter was dominated by the…
Energize Weekly, July 10, 2019 Utilities are moving to close coal-fired power plants and add more renewable generation, but the large role played by new gas-fired power plants is drawing fire from environmental groups, arguing that no more fossil fuel-based units should be built. In the last two weeks the…
Energize Weekly, July 3, 2019 Duke Energy Indiana has proposed 20-year plan under which it move up the retirement of more than 4,100 megawatts (MW) of coal-fired plants and make major investments in natural gas-fired and renewable generation. Duke laid out its “roadmap” in its integrated resource plan filed with…
Energize Weekly, June 26, 2019 The value of global fuel subsidies was pushed up to their highest levels in five years, according the International Energy Agency (IEA). IEA data show the estimated value of these subsidies at $424 billion, a 33 percent annual increase. The subsidy estimates for oil, gas…
Energize Weekly, June 26, 2019 The strong growth in global energy demand in 2018 is a sign that the world is on an “unsustainable path,” according to the BP Statistical Review of World Energy. Global energy demand was up 2.9 percent and carbon emissions grew by 2 percent in 2018,…
Energize Weekly, June 19, 2019 U.S. crude oil imports from the Organization of the Petroleum Exporting Countries (OPEC) fell in March to 1.5 million barrels a day, the lowest level in 33 years, based on data from the federal Energy Information Administration’s (EIA) “Petroleum Supply Monthly.” The drop to a…
Energize Weekly, June 12, 2019 Horizontal wells accounted for 96 percent of the oil production from tight geological formations, such as shale, in 2018, up from 15 percent in 2004, according to data from the federal Energy Information Administration (EIA). The horizontal wells, with laterals that can run two miles…
Energize Weekly, June 5, 2019 More than $570 billion in new global oil refining investments are set to be made by 2025, raising total capacity by 15 percent to 116 million barrels a day, according to Bloomberg New Energy Finance (BNEF). About 75 percent of the new capacity will be…
Energize Weekly, June 5, 2019 U.S. shale oil drillers continue to “burn cash” as they operate with negative cash flows, and while bankruptcies in the sector have cooled with the rebound in oil prices, risks still remain, according to industry analyses. An analysis of 40 shale companies by Oslo, Norway-based…
Energize Weekly, May 29, 2019 As costs come down for producing oil from shale plays, U.S. production appears to be playing a larger role in anchoring long-term oil prices, according to a Federal Reserve Bank of Dallas analysis. The combination of shorter lead times between drilling and production and the…
Energize Weekly, May 29, 2019 After a three-year slide, global energy investment stabilized in 2018 at just more than $1.8 trillion dollars—as spending on oil, natural gas and coal increased, the International Energy Agency (IEA) said. Investments in renewable generation and energy efficiency, however, stalled in 2018, according to the…
Energize Weekly, May 22, 2019 The oil market is being roiled by production cuts, political sanctions, slow economic growth and political uncertainty, leading to a market of “mixed signals,” according to the International Energy Agency (IEA). The global market for another key petroleum product, liquefied natural gas (LNG), also looks…
Energize Weekly, May 15, 2019 Global oil demand—under current economic and energy development trends—is projected to peak between 2030 and 2035 and then plateau through 2050, according to a new analysis by the London-based investment bank, Barclays. That peak could come as early as 2025 if more aggressive energy policies…
Energize Weekly, May 15, 2019 As the soybean market is roiled by trade disputes between the U.S. and China, the domestic biodiesel fuel industry is taking an increasing share of the country’s soybean oil production, according to federal Energy Information Administration (EIA) data. Biodiesel production absorbed 30 percent of domestic…
Energize Weekly, May 8, 2019 The “crossover point” when electric vehicles (EVs) are cheaper than their internal-combustion-engine (ICE) counterparts continues to get closer with falling battery costs, according to Bloomberg New Energy Finance (BNEF). In a 2017 BNEF analysis, the crossover point was forecast as 2026. In 2018, the crossover…
Energize Weekly, May 1, 2019 U.S. fuel ethanol exports rose 23 percent year-on-year to 112,000 barrels a day in 2018—an all-time record, according to the federal Energy Information Administration (EIA). At the same time, U.S. fuel ethanol imports were down 30 percent to less than 4,000 barrels a day in…
Energize Weekly, April 24, 2019 The average summer retail price for regular-grade gasoline in the U.S. will be about 3 percent lower in 2019 than in 2018 at $2.76 a gallon, according to the federal Energy Information Administration (EIA) Summer Fuels Outlook. The cost of gasoline is primarily driven by…
Energize Weekly, April 24, 2019 The United States hit a record high 101.3 quadrillion British thermal units (Btu) for primary energy consumption in 2018—surpassing by three-tenths of a percent the previous high in 2007, according to the federal Energy Information Administration (EIA). Energy consumption was up 4 percent from 2017.…
Energize Weekly, April 24, 2019 Among the economic threats posed by climate change are risks to municipal bonds, commercial real estate investments and the utility sector, according to an analysis by BlackRock and the Rhodium Group. “Our work with Rhodium Group shows a rising share of U.S. metropolitan statistical areas (MSAs) will…
Energize Weekly, April 17, 2019 U.S. crude oil production—driven by Texas output—hit a record average 10.96 million barrels a day in 2018, a 17 percent year-over-year increase, according to the federal Energy Information Administration (EIA). In December 2018, crude oil production reached 11.96 million barrels a day—the highest monthly level…
Energize Weekly, April 10, 2019 A Brazilian liquefied natural gas (LNG) power plant project, developed by an international joint venture, has received a $288 million loan from the International Finance Corporation (IFC), a sister organization to the World Bank. The 15-year loan will cover development and operation of the plant…
Energize Weekly, April 10, 2019 The Colorado legislature has passed a sweeping oil and gas bill aimed at giving local government more control over drilling, but only after adding a few industry-friendly amendments. Gov. Jared Polis has indicated he will sign the bill. The legislation, Senate Bill 181, came in…
Energize Weekly, April 3, 2019 U.S. natural gas consumption—led by demand from the utility sector—rose 10 percent in 2018 to a record 82.1 billion cubic feet per day (Bcf/d), according to data form the federal Energy Information Administration (EIA). While domestic natural gas use rose across all sectors, the sharpest…
Energize Weekly, March 20, 2019 U.S. natural gas production set records in 2018 for the largest year-on-year increase, 11 percent, and overall production, average 101.3 billion cubic feet per day (Bcf/d), according to the federal Energy Information Administration. Domestic gas production measured as market production and dry-gas production also set…
Energize Weekly, March 13, 2019 A bill aimed at dramatically overhauling regulation of oil and gas operations in Colorado is swiftly moving through the state legislature. The legislation is in response to growing concerns as large fracking operations get closer to suburban development and in the wake of a string…
Energize Weekly, March 6, 2019 U.S. shale operators face a cash pinch in 2019 as rising debt servicing will leave them with “barely” enough cash to pay dividends, according to an analysis by Oslo, Norway-based Rystad Energy. “Indebted shale exploration and production companies (E&Ps) spent the second half of 2018…
Energize Weekly, March 6, 2019 Extreme cold at the end of January pushed Midwest natural gas consumption to record levels and near-record levels for electricity demand on Jan. 31—the single coldest day when temperatures dropped to as low as minus 45 degrees Fahrenheit. Natural gas, the primary heating fuel in…
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