FROM THE OIL PATCH
This Could Be A Gamechanger For Natural Gas In Europe
Supergiants like Exxon are focused on big offshore venues like Guyana and Namibia, leaving behind prime onshore natural gas assets in Europe – a region
Biden’s Pause on New LNG Export Permits Could Last for Months
The U.S. Administration’s pause on approvals of new LNG export projects could last for several months until the U.S. Department of Energy reviews the grounds
Oil prices rise as funds scale back bearish positions
Investors have become less bearish about the outlook for oil and gas prices as U.S. shale producers scale back drilling while Saudi Arabia and its OPEC+ allies extend their own output cuts for a further three months. Hedge funds and other money managers purchased the equivalent of 10 million barrels
Forces shaping the future of energy
The world has seen record-setting investment in energy amid slowing overall demand growth, a trend likely to continue in the years ahead. But why are companies pumping more money into chasing demand that won’t be there? It may seem like a contradiction, but those funds are needed to align with
Chinese Oil Giant Calls for Government Support of Shale Projects
China’s government should do more to back shale oil projects in the country through preferential tax treatment for the sector, one of the biggest state-owned oil and gas giants says. The authorities need to roll out financial support policies and preferential taxes for the shale industry in China, Ma
IEA raises oil demand outlook again but still lags OPEC
The International Energy Agency on Thursday raised its view on 2024 oil demand growth for a fourth time since November as Houthi attacks disrupt Red Sea shipping, though it remains far less bullish than producer group OPEC. The Organization of the Petroleum-Exporting Countries (OPEC) and the IEA, which represents industrialised
CRUDE OIL WEEKLY UPDATE (Week Ending 03-15-24)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending March 8, 2024, which was 390
NATURAL GAS WEEKLY UPDATE (Week Ending 03-15-24)
In the News (EIA): Market Highlights: Prices Henry Hub spot price: The Henry Hub spot price fell 42 cents from $1.66 per million British thermal
Zekelman Industries Steel Snapshot for March 2024
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts March HR Coil $800 down $100 from Feb. Nucor announced last week new HRC pricing
Preston Pipe Report – February 2024
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – As covered in more detail in the OCTG section of this report, M&A activity in
Argus Pipe Logix Line Pipe Report – February 2024
(by Rye Druzin, www.pipe-logix.com) US line pipe prices fell by 2% in February, accelerating declines compared to the prior month. Domestic prices fell by 2.7%
AISI Press Release on Latest U.S. Imports of Steel Products – March 2024
American Iron and Steel Institute, www.steel.org – (03-08-24) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron