FROM THE OIL PATCH
Shell CEO Says World ‘Desperately In Need’ Of Natural Gas
Shell Plc’s natural gas business can continue to grow after making record profits in 2022, as the global thirst for the fuel shows no signs of slowing, said Chief Executive Officer Wael Sawan. After years of questions over how oil and gas producers can deliver strong returns to shareholders while also cutting carbon emissions, Shell’s new boss gave an early insight into how he sees Russia’s invasion of Ukraine reshaping both global markets and the opportunities for his company. “Our natural gas business continues to grow in a world that is desperately in need of natural gas at the moment,
Pipelines Gearing Up for Hydrogen-Powered Economy
From growing concerns for climate change and net-zero carbon emission commitments, to a focus on greenhouse gas reduction – hydrogen’s potential to help solve crucial energy issues, has gained plenty attention. Demand for hydrogen has soared, and there’s no signs it will slow down soon – ensuring pipelines and infrastructure is up to the challenge will need to be a top priority, sooner rather than later. Integrating a hydrogen powered energy economy is no easy feat, and it will require reliance on modern technology to support how we store, transport and generate power in the future. From its energy efficiency,
Russia’s Oil And Gas Revenues Slump 46% Year-Over-Year
Russian budget revenues from energy sales – including taxes and customs revenues – plummeted last month to the lowest level since August 2020, according to data from its finance ministry compiled by Reuters. In January 2023, the price of Russia’s flagship Urals grade averaged 42% lower than in the same month
China’s oil demand bounce may push producers to reconsider output, IEA says
Oil producers may have to reconsider their output policies following a demand recovery in China, the world’s second-largest oil consumer, the International Energy Agency’s Executive Director Fatih Birol said on Sunday. Demand in China, the world’s largest crude importer and No. 2 buyer of liquefied natural gas, has become the
Activists say US should adopt New Mexico’s natural gas rules
Activists are pushing for federal rules on curbing wasted natural gas to look more like New Mexico’s recently passed rules, as they wait for data to reflect that they work. The Environmental Defense Fund, an environmental advocacy group, and Taxpayers for Common Sense, a budget watchdog organization, released a study
Energy Workforce & Technology Council: oilfield services employment highest since March 2020
Employment in the U.S. oilfield services and equipment sector rose by an estimated 3,069 jobs to 652,090 in January, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to December numbers and analysis by the Energy Workforce & Technology Council (Energy Workforce). December adjusted number of
CRUDE OIL WEEKLY UPDATE (Week Ending 02-03-23)
U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending January 27, 2023 which was 19 thousand barrels per day
NATURAL GAS WEEKLY UPDATE (Week Ending 02-03-23)
In the News (EIA): Growth in global LNG export capacity will be limited in 2023: In 2023, four new liquefied natural gas (LNG) export projects
Zekelman Industries Steel Snapshot for January 2023
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts January HR Coil $720 up $60 from Dec. Mills have announced two price increases starting
Preston Pipe Report – December 2022
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Natural gas prices are stuck in a rut largely at the mercy of mother nature
Pipe Logix Line Pipe Report – December 2022
(by Kurt Minnich, www.pipe-logix.com) Line pipe prices decreased 3.4% in December with domestic prices down 2.8% and import prices down 4.2%. This is the 7th
AISI Press Release on Latest U.S. Imports of Steel Products – January 2023
(American Iron and Steel Institute, www.steel.org Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel
