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,
Supply Chain Woes Loom Large for Oil, Gas Sectors
In the fall of 2022, the Chicago-based Association for Supply Chain Management (ASCM) joined with the respected global accounting and consulting firm KPMG International to create an index for measuring the sustainability of the global supply chain, accompanied by a report that included some sobering conclusions. It summarized the past
World Oil Forecast: Congressman and industry experts offer upbeat view for 2023
Featuring a “first look” at anticipated upstream oil and gas trends for 2023, World Oil hosted its 55th annual Forecast Breakfast on Jan. 27 at the Norris Conference Center in Houston, Texas. Over 300 industry professionals representing operators, service companies, drilling contractors and others attended the event, featuring projections, data
Brazil losing $1 million per day on rig that hasn’t started drilling in Equatorial Margin
The conflict between Brazil’s ambitions to become a more responsible environmental steward while also ramping up lucrative oil exports has turned into an early test for President Luiz Inacio Lula da Silva. Off the coast of northern Brazil where the Amazon River enters the South Atlantic, state-controlled oil giant Petroleo
API emphasizes plan for Washington to secure a sustainable energy future
American Petroleum Institute (API) President and CEO Mike Sommers gave remarks during the 19th Annual State of the Energy Industry Forum, hosted by the U.S. Energy Association. Sommers emphasized API’s recently announced plan for policymakers in Washington to secure a sustainable, reliable energy future and make, move and improve American energy.
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
