In the extraordinary OPEC+ and G20 meetings that surrounded the coordinated deal, it was stated that the free market producers – mainly the US, Canada, Brazil and Norway – would make up a further cut of 5 mmb/d through natural ‘market adjustments'. This applies to OPEC states as well, such as Kuw ...Massive revenue shortfall in new state forecasts
The last time state economists released revenue forecasts, New Mexico had a massive oil boom with no end in sight. Those same economists released dire revenue projections on Wednesday, suggesting New Mexico could take in between $1.7 billion and $2.4 billion less than originally expected during t ...Low transportation fuel demand and low profitability drive refinery run declines
In the weeks since then, gasoline product supplied has risen to 5.9 million b/d, or about 37% lower than the previous five-year average for late April. Jet fuel product supplied increased during the past two weeks, averaging 800,000 b/d for the week ending April 24, or 51% lower than the previous ...Your Weekly Update: 27 April - 1 May 2020
An entire phalanx of upstream service companies help build, operate and maintain the critical infrastructure necessary to extract oil in its natural form from deep below the ground and send it on its merry way to be turned into fuel for consumption. With all companies slashing upstream capex and ...MOL Group: Ferenc Horváth - EVP of Downstream | BGS Talks #1
We will learn how to raise productivity through corporate culture, train freshly graduated students to get them on the managing positions and why MOL Group tries to get as much negative feedback as possible. MOL Group is an international oil and gas company, active in over 30 countries with an in ...When The Pool Shrinks, The Fish Are Threatened
An entire phalanx of upstream service companies help build, operate and maintain the critical infrastructure necessary to extract oil in its natural form from deep below the ground and send it on its merry way to be turned into fuel for consumption. With all companies slashing upstream capex and ...COVID-19 mitigation efforts result in the lowest U.S. petroleum consumption in decades
The U.S. Energy Information Administration (EIA) estimates the decline in petroleum product demand by examining the changes in total product supplied, EIA's proxy for consumption. In the week ending April 3, total U.S. product supplied of petroleum products fell by 3.4 million b/d, the largest we ...Withdrawals from natural gas storage this winter were lowest since 2015–16
Energy exports from the United States reached an all-time high of 23.6 quadrillion British thermal units (quads) in 2019, marking the first time in 67 years that annual U.S. gross energy exports exceeded U.S. gross energy imports, according to the U.S. Energy Information Administration's (EIA) Mon ...Tank Cleaning Lights | ATEX Portable Lighting For Hazardous Area
Tank Cleaning Inspection | ATEX Portable Light, Power, Heat Ventilation For Hazardous AreasPublished 24 Apr 2020Tank Cleaning Lights | ATEX Portable Lighting For Hazardous Area Tank InspectionPortable SolutionsThe Oil Gas sector is one of a number of industries with potentially explosive atmospher ...New Mexico watching as Texas considers limits on oil production
Laws governing oil production in New Mexico stem from the Oil and Gas Act of 1935, which, among many other things, suggests the state can impose statewide caps on oil production, as well as more explicitly allowing it to cap output at specific reservoirs or “pools” of oil to “prevent waste.” If p ...Your Weekly Update: 20 - 24 April 2020
And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...Trump promises oil, gas industry assistance a day after WTI traded negative
Natural gas prices may increase Reducing oil production may have some positive impact on the San Juan Basin. Because the Permian Basin has been producing a surplus of natural gas, and there is no way to send all the natural gas to markets, the San Juan Basin natural gas prices have reached histor ...Wind and natural gas-fired generators led U.S. power sector capacity additions in 2019
And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...U.S. total energy exports exceed imports in 2019 for the first time in 67 years
And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...The WTI Oil Price Crash Explained
And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...
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