The United States will become the top producer of oil globally within five years, a net exporter of natural gas by 2020 and an oil exporter by close to 2030, all thanks to its massive unconventional resources, the International Energy Agency (IEA) said Monday in its annual flagship publication, the World Energy Outlook (WEO).
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Clinton: Energy A ‘Defining Issue’ in Years Ahead
Energy in all of its complexity will continue to be “one of the defining issues” of the 21st Century, both domestically and globally, Secretary of State Hillary Clinton told a packed crowd at Georgetown University Thursday.
Clinton: Energy to Remain ‘Defining Issue’ in Years Ahead
Energy in all of its complexity will continue to be “one of the defining issues” of the 21st Century, both domestically and globally, Secretary of State Hillary Clinton told a packed crowd at Georgetown University Thursday.
Dramatic North American Energy Shift Eyed
Natural gas and oil liquids are expected to expand globally, U.S. energy imports will continue declining and a reordering of the fossil fuel mix in North America will prompt a rethinking of domestic energy policy, according to the authors of a study due out later this summer.
California’s Monterey Shale A Potential Elephant, Analysts Say
Shale plays globally are a very good long-term asset and the continuing hype about the under-explored Monterey Shale in California is worthy of most of the superlatives, according to two analysts at Wood Mackenzie’s Houston office.
North America Lifts Oilfield Specialty Chemicals Market
Driven mostly by North America, the world market for oilfield specialty chemicals climbed to almost $16 billion in 2010, with the United States and Canada accounting for more than half (52%), according to a global market study by IHS Chemical.
Shales Helping Drive Ethane Supply Growth
Growing natural gas liquids (NGL) production — particularly that of ethane — is a positive story for the petrochemical industry as well as oil and gas producers. However, talk of an NGL glut is growing louder as the industry continues to grow production — particularly from liquids-rich shale plays — and build out infrastructure. Opinions vary on what is to come.
FERC Says ‘No Physical Explanation’ for $13 Gas Prices in 2008
Increased natural gas trading by primarily institutional investors and a rise in commodity prices globally — combined with modest tightening in gas supply-demand balance in the first half of 2008 — contributed to the sharp rise in both spot and futures gas prices last year, FERC said in its “State of the Markets Report” for 2008.
FERC Says ‘No Physical Explanation’ for $13 Gas Prices in 2008
Increased natural gas trading by primarily institutional investors and a rise in commodity prices globally — combined with modest tightening in gas supply-demand balance in the first half of 2008 — contributed to the sharp rise in both spot and futures gas prices last year, FERC said in its “State of the Markets Report” for 2008.
Flexible Destination LNG Contracts Wave of Future, Panel Says
What’s already a common provision in globally based liquefied natural gas (LNG) contracts — flexible destination rights that allow shippers to reroute their cargoes to higher paying ports — within 10 years will be included in all LNG deals. Most of the contracts for the gas slated to go through Sempra Energy’s new North Baja California terminal that opens early next year in Mexico already have these so-called “economic dispatch” provisions. This development was part of what a panel told participants last Tuesday at the LDC Forum Rockies & West conference in Los Angeles.