USMCA Launches Amidst Frayed Relationship Between Mexico Government, Private Sector

Officials in Mexico celebrated the launch of the U.S.-Mexico-Canada Agreement (USMCA) on Wednesday, as the revamped North American Free Trade Agreement (NAFTA) treaty took effect after years of negotiations.  “This is going to be one of the motors of the relaunch of the Mexican economy,” Mexican Finance Minister Arturo Herrera said in a virtual address.…

U.S. Energy Demand Climbing, but New Covid Lockdowns Looming

The Energy Information Administration (EIA) on Wednesday said U.S. oil refinery input for the week ending June 26 averaged 14 million b/d, about 193,000 b/d higher than in the previous week, but the recent spike in Covid-19 cases nationwide may drive consumers back indoors, according to experts. U.S. refineries operated at 75.5% of their capacity…

July 1, 2020

Eagle Ford Pure-Play Mesquite Emerges from Sanchez Restructuring

Houston-based Sanchez Energy Corp. late Tuesday said it had completed a financial restructuring and emerged from bankruptcy as Mesquite Energy Inc., a private explorer still intent on keeping its focus in the Eagle Ford Shale. The reorganization under Chapter 11, begun in 2019, eliminated nearly all of the $2.3 billion debt. “We are excited to…

July 1, 2020

Ukrainian Natural Gas Storage Luring European Supply as Markets Come Together

The European natural gas market is finding refuge in Ukraine, where vast storage facilities are increasingly being utilized by traders, suppliers and utilities in a way that has helped to prevent prices from collapsing into negative territory amid a supply glut.  Ukrtransgaz, which manages storage and the country’s transmission system operator, has incentivized European traders…

July 1, 2020

Oil, Natural Gas Exploration Said Vital to Meeting Energy Demand to 2040, Even if Global Warming Kept Under 2 C

Oil and natural gas exploration will play an essential role in meeting global energy demand through at least 2040, even if human-induced global warming is kept under 2 C, according to a new analysis by Wood Mackenzie. “Only about half the supply needed to 2040 is guaranteed from fields already onstream,” said Wood Mackenzie’s Andrew…

July 1, 2020