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,
Governor Abbott Statement On Texas Stopping President Biden’s Attacks On Permian Basin
Governor Greg Abbott today issued a statement after the Biden Administration removed a plan by the U.S. Environmental Protection Agency (EPA) to impose a discretionary redesignation of the Permian Basin, the nation’s most prolific oil field, in its latest semiannual regulatory agenda. If allowed to proceed, the EPA’s actions in the Permian
Natural gas prices haven’t been this low since Russia went to war
Natural gas prices in Europe and the United States have tumbled to levels last seen before Russia sparked a global energy crisis by invading Ukraine. Wholesale European gas prices, as measured by the benchmark Dutch futures contract, have dropped almost 48% since mid-December to trade at €71 ($74) per megawatt hour on
Norway expects jump in oil output and gas near record highs
OSLO, Jan 9 (Reuters) – Norway’s oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday. Production of crude oil and other
EOG Eyes Flat Permian Activity, Tighter Global Oil Supply in 2023
U.S. shale producer EOG Resources Inc. on Friday said it anticipates its activity in the Permian Basin to be flat this year, as supplies and equipment remain expensive and as it focuses on shareholder returns. Global oil supply will likely tighten this year, Chief Executive Ezra Jacob said at a
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
