Crude

Permian Crude Sets Sail from Buckeye’s New South Texas Export Terminal

Permian Crude Sets Sail from Buckeye’s New South Texas Export Terminal

Sourced with Permian Basin crude oil, Buckeye Partners LP on Thursday loaded the first vessel for export at its new South Texas Gateway (STG) terminal in Ingleside, TX. The start of operations at the terminal, located at the mouth of the Corpus Christi Ship Channel, follows first deliveries of crude in June from one of…

July 17, 2020
U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

Posting its smallest weekly decline in months, the U.S. rig count dropped one unit to finish at 265 for the week ending Friday (June 26), suggesting that upstream activity could finally be stabilizing after a prolonged period of Covid-induced retrenchment. According to the latest Baker Hughes Co. (BKR) data, total U.S. natural gas-directed rigs finished…

June 26, 2020
Oil Market Tightening Said Imminent As OPEC-plus Extends Cuts Another Month

Oil Market Tightening Said Imminent As OPEC-plus Extends Cuts Another Month

The Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, on Saturday agreed to extend May and June oil supply cuts for another month to continue rebalancing an oversupplied global crude market.

June 8, 2020
OPEC, Allies Extend Supply Cuts Another Month, Signaling Tightened Market Ahead

OPEC, Allies Extend Supply Cuts Another Month, Signaling Tightened Market Ahead

The Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, on Saturday agreed to extend May and June oil supply cuts for another month to continue rebalancing an oversupplied global crude market.

June 8, 2020
Majors Seeking to Streamline Portfolios through Oil, Natural Gas Asset Sales Amid Covid-19 Impacts, Rystad Says

Majors Seeking to Streamline Portfolios through Oil, Natural Gas Asset Sales Amid Covid-19 Impacts, Rystad Says

Oil and gas companies around the world have announced plans to divest non-priority assets with recoverable reserves totaling some 12.5 billion boe since December 2019, according to new analysis by Rystad Energy.

June 3, 2020
Raymond James ‘Extremely Bullish’ on 2021 Natural Gas Prices, But Says LNG Outlook Less Rosy

Raymond James ‘Extremely Bullish’ on 2021 Natural Gas Prices, But Says LNG Outlook Less Rosy

The impact of Covid-19 on pressuring U.S. natural gas prices remains a wildcard, but supply/demand changes point for the strip to move lower this year before 2021 ushers in “extremely bullish” prices, Raymond James & Associates Inc. said Monday.

June 1, 2020
COLUMN: Exploring the Curious Case of Oil-Indexed LNG Contracts

COLUMN: Exploring the Curious Case of Oil-Indexed LNG Contracts

The notion of linking natural gas to crude oil is a funny one for the uninitiated in North America, where an abundance of supplies and a robust wholesale market reign. However, nearly three-quarters of all the world’s liquefied natural gas (LNG) trade is tied to oil prices.

May 27, 2020
Dallas Fed Sees Q2 Oil, Natural Gas Capex Falling 35% on Weak WTI Price, Storage Constraints

Dallas Fed Sees Q2 Oil, Natural Gas Capex Falling 35% on Weak WTI Price, Storage Constraints

Investment by U.S. oil and gas producers is likely to drop by at least 35% in the second quarter versus the first quarter of this year due to the crushing impact of Covid-19 on crude prices and a lack of available storage capacity, the Federal Reserve Bank of Dallas said Friday.

May 15, 2020
Natural Gas Futures Steady as Forecasts Warm; Cash Mixed

Natural Gas Futures Steady as Forecasts Warm; Cash Mixed

Natural gas futures snapped a three-day losing streak, edging up Monday as weather models hinted at what could be a warmer-than-normal summer. However, with a looming storage “tsunami,” the June Nymex gas futures contract settled only three-tenths of a cent higher than Friday’s close at $1.826. July climbed .008 cents to $2.085.

May 11, 2020
Enterprise ‘Creating Value,’ Cutting Costs Amid Coronavirus Uncertainty

Enterprise ‘Creating Value,’ Cutting Costs Amid Coronavirus Uncertainty

Enterprise Products Partners LP (EPD) has yet to see a “material change” to volumes across its system, but given the “highly uncertain” impacts of the coronavirus for the remainder of 2020, it has reduced planned growth capital investments by $1 billion and sustaining capital expenditures (capex) by $100 million.

April 29, 2020
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