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Alberta Natural Gas Industry Considered Integral to Economic Recovery Post Covid-19

Alberta Natural Gas Industry Considered Integral to Economic Recovery Post Covid-19

Natural gas rose to the top of the Alberta government’s economic recovery agenda in a plan announced Tuesday to reverse supply/demand declines that set in well before the Covid-19 pandemic. “For more than 100 years, natural gas has been the cornerstone of Alberta’s energy economy,” said a provincial policy paper titled “Getting Alberta Back to…

October 7, 2020
Navigator Testing Support to Move More Crude from Cushing

Navigator Testing Support to Move More Crude from Cushing

Dallas midstreamer Navigator Borger Express LLC has launched a binding open season on its planned Borger Express crude pipeline system from the Cushing hub in Oklahoma to Borger, TX.  The 90,000 b/d Borger Express would provide transport services by utilizing 180 miles of an existing oil pipeline, and constructing nearly 200 miles of 16-inch diameter…

October 5, 2020
LNG Export Trade in Growth Mode for ‘Some Time,’ Says Yergin

LNG Export Trade in Growth Mode for ‘Some Time,’ Says Yergin

All claims to the contrary, the oil and gas industry is not dying a slow death, with the outlook for U.S. exports looking strong long term, according to one of the energy world’s leading thought leaders. Master storyteller Daniel Yergin, more often the inquirer, had much to share with NGI in a recent conversation about…

October 2, 2020
Mexico, Brazil Energy Fortunes Moving in Opposite Directions, Says Yergin

Mexico, Brazil Energy Fortunes Moving in Opposite Directions, Says Yergin

When it comes to energy policy, Latin American giants Brazil and Mexico are like “two ships of state passing in the night,” according to energy authority Daniel Yergin. Yergin discusses the issues in Latin America in his latest book, “The New Map: Energy, Climate, and the Clash of Nations” published by Penguin Press. According to…

October 1, 2020
PE Funds Said Pitching Oil Path Value Over Growth in Low-Price WTI Environment

PE Funds Said Pitching Oil Path Value Over Growth in Low-Price WTI Environment

Existing “bread and butter” portfolios are outshining new investments by private equity (PE), but the bigger focus is on reducing costs amid this year’s unprecedented oil market collapse. Chief Investment Officer Dan Pickering, who launched Pickering Energy Partners (PEP) in 2004 as a predecessor to energy investment and merchant banking firm Tudor, Pickering, Holt &…

October 1, 2020
ConocoPhillips Estimating Nearly 20% Year/Year Decline in Production, $15 Hit to Prices in 3Q2020

ConocoPhillips Estimating Nearly 20% Year/Year Decline in Production, $15 Hit to Prices in 3Q2020

ConocoPhillips expects to see its third quarter 2020 production suffer another double-digit blow and realized prices take a roughly $15 hit as the Houston-based independent curtailed volumes to combat the weak oil environment. In an operations update issued Wednesday, ConocoPhillips said it expects to report a roughly 262,000 boe/d year/year decline (19.7%) in third quarter…

September 30, 2020
Bet on Oil, Natural Gas Demand Long Term as Transition Continues, Says Yergin

Bet on Oil, Natural Gas Demand Long Term as Transition Continues, Says Yergin

All claims to the contrary, the oil and natural gas industry is not dying a slow death, according to one of the energy world’s leading thought leaders. Master storyteller Daniel Yergin, more often the inquirer, had much to share with NGI in a recent conversation about the state of the oil and gas world, the…

September 30, 2020
CME Adds Delivery Point for WTI Houston Futures as U.S. Crude Exports Grow

CME Adds Delivery Point for WTI Houston Futures as U.S. Crude Exports Grow

CME Group said Thursday it has added dock allocation as another delivery point for its West Texas Intermediate (WTI) Houston futures contracts on the New York Mercantile Exchange. Pending regulatory review, the new delivery point would be effective with the January 2021 contract. The move would allow WTI Houston crude futures to be delivered directly…

September 25, 2020
Many Texas, Louisiana Energy Executives Think U.S. Oil Production Already Peaked

Many Texas, Louisiana Energy Executives Think U.S. Oil Production Already Peaked

Oil production in the United States already has peaked, most energy executives believe, according to a new survey by the Federal Reserve Bank of Dallas. The quarterly survey by the Dallas Fed, as it’s known, said 66% of oil and gas executives queried across the Eleventh District believe domestic oil production has peaked, while 34%…

September 23, 2020
OPEC-Plus Deal Driving Global Oil Market Rebalancing, Says EIA

OPEC-Plus Deal Driving Global Oil Market Rebalancing, Says EIA

A watershed agreement in April to slash oil production by the Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, has begun to achieve its intended effect of rebalancing an oversupplied global crude market, the U.S. Energy Information Administration (EIA) said Wednesday. At the time of the agreement, OPEC-plus called for a cut…

September 23, 2020