The months-long protests against the construction of a section of the Dakota Access crude oil pipeline will cost the state of North Dakota around US$39 million, after the state’s Emergency Commission voted to borrow an additional US$5 million to pay for policing services provided by as many as 11 other states—and taxpayers may likely be… Read more »
Monthly Archives: September 2017
DOE Seeks To Boost Usage Of Carbon Capture Tech
Secretary of Energy Rick Perry has approached the National Petroleum Council to help find effective applications of carbon capture technology in oil and gas production, Reuters reports, citing a meeting of the 200-member industry body with Perry and Interior Secretary Ryan Zinke. While carbon capture technology is certainly “exciting”, to use the Secretary of Energy’s… Read more »
Mission Accomplished? OPEC Banishes Contango
LONDON, Sept 21 (Reuters) – “There is no doubt that the oil market is moving in the right direction,” the Organization of the Petroleum Exporting Countries noted with satisfaction in its most recent bulletin published on Wednesday. “The rebalancing process was never going to happen overnight; it was never going to happen in a linear… Read more »
Drilling and Completion Tick Up in the UK
Several small development companies and one global petrochemical company are drilling, fracturing and completing wells in the United Kingdom, as the upstream sector responds to domestic needs in the face of declines in North Sea production. While there are more than a dozen upstream ventures active in the UK and the Republic of Ireland, most… Read more »
IEA Sees Strongest Global Oil-Demand Growth in Two Years
(Bloomberg) — Global oil demand will climb this year by the most since 2015, the International Energy Agency said, amid stronger-than-expected consumption in Europe and the U.S. The IEA, which advises most major economies on energy policy, increased its estimate for demand growth in 2017 by 100,000 barrels a day to 1.6 million a day, or… Read more »
OPEC Sees Higher Oil Demand, Signs Of Tighter Market
LONDON, Sept 12 (Reuters) – OPEC on Tuesday forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its production-cutting deal with non-member countries is helping to tackle a supply glut that has weighed on prices. In a monthly report, the Organization of the Petroleum Exporting Countries… Read more »
