Coronavirus

Citgo’s Refining Unit in South Texas Disrupted as Covid Cuts Oxygen Supply

Citgo’s Refining Unit in South Texas Disrupted as Covid Cuts Oxygen Supply

Citgo Petroleum Corp. shut down a key component of its Corpus Christi, TX, refinery following an oxygen supply disruption from a vendor because of increased demand from the medical industry. In a filing with the Texas Commission on Environmental Quality (TCEQ) last Thursday (Sept. 2), Citgo said it shut down the Sulfur Recovery Unit B-Train…

September 3, 2021
Texas Upstream Jobs Sector Expanding, but Threats from Delta Variant Looming

Texas Upstream Jobs Sector Expanding, but Threats from Delta Variant Looming

The Texas oil and natural gas industry through July had seen a continued uptick in job growth, particularly in the Houston area, but the deadly Delta variant of Covid-19 poses near-term threats. An employment analysis of the upstream sector by the Texas Independent Producers and Royalty Owners Association (TIPRO) showed a net increase of 1,500…

August 30, 2021
U.S. Petroleum Consumption Mounts, but Delta Variant Threat Looms Large

U.S. Petroleum Consumption Mounts, but Delta Variant Threat Looms Large

Domestic crude production held steady while demand for U.S. petroleum continued to rise last week, alongside increased summer travel and greater consumption of motor gasoline, the U.S. Energy Information Administration (EIA) said. The fast-spreading Delta variant of the coronavirus presents increasing risk to Americans’ mobility – risk that could once again diminish demand for travel…

August 26, 2021
Delta Variant Pressuring Oil Demand, Possibly Hampering U.S. Natural Gas

Delta Variant Pressuring Oil Demand, Possibly Hampering U.S. Natural Gas

The Covid-19 Delta variant could dampen global oil demand and threaten U.S. natural gas activity if the rapid spread of the virus continues into the fall. In the United States, overall case totals and hospitalizations remain lower than the highs reached last winter before vaccine campaigns were widespread. However, reported infections are on the rise…

August 24, 2021
Pandemic’s Buoyancy Raises New Concerns About U.S. Natural Gas, Oil Demand

Pandemic’s Buoyancy Raises New Concerns About U.S. Natural Gas, Oil Demand

The economic impact of the Covid-19 Delta variant already threatens demand for oil and could dampen consumption of U.S. natural gas, particularly exports to Asia, if new restrictions imposed to slow the virus’ spread in China drag deep into 2021. In the United States, overall case totals and hospitalizations remain lower than the highs reached…

August 23, 2021
Canada Imported Cheaper, Lower Volumes of U.S. Oil Amid Covid Pandemic

Canada Imported Cheaper, Lower Volumes of U.S. Oil Amid Covid Pandemic

The Covid-19 pandemic cut the volume and value of Canadian oil imports from the United States but did not stop the northbound flows, according to the Canada Energy Regulator (CER) and IHS Markit. Canadian imports from the United States fell 20% year/year in 2020, to 550,000 b/d from 693,000 b/d in 2019 before global oil…

August 12, 2021
Aramco Boosting Petroleum Production as Demand Recovers, Using Natural Gas to Expand Hydrogen Options

Aramco Boosting Petroleum Production as Demand Recovers, Using Natural Gas to Expand Hydrogen Options

Global petroleum demand should reach pre-pandemic levels by early 2022, putting Saudi Arabia’s state-owned oil company in a sweet spot as it boosts production, executives said Monday.  Saudi Arabian Oil Co., aka Aramco, saw a 288% jump in profits from a year ago as oil prices jumped. Petroleum consumption is rising as vaccination rates improve…

August 10, 2021
September Natural Gas Prices Rocket Higher on Production Drop, Hotter Forecast

September Natural Gas Prices Rocket Higher on Production Drop, Hotter Forecast

A step down in production drove natural gas futures prices higher for a second day, with gains accelerating after the latest weather models turned even hotter for next week. The September Nymex gas futures contract settled Tuesday at $4.027, up 9.2 cents on the day. October climbed 9.4 cents to $4.032. At A Glance: TGP…

August 3, 2021
Ohio Oil and Gas Production Saw Steep Declines During Pandemic

Ohio Oil and Gas Production Saw Steep Declines During Pandemic

Ohio’s oil and natural gas production dropped last year as operators shut in volumes and curbed activity amid the Covid-19 pandemic, according to the Ohio Oil and Gas Association’s (OOGA) annual Debrosse Memorial Report.   Natural gas production fell by 10% year/year to 2.4 Tcf in 2020, according to estimates included in the report. Oil production…

July 23, 2021
Despite Covid-19 Declines, U.S. Still World’s Leading Petroleum and NatGas Producer in 2020

Despite Covid-19 Declines, U.S. Still World’s Leading Petroleum and NatGas Producer in 2020

Even amid declines associated with the Covid-19 pandemic, the United States maintained its status as the globe’s leading producer of petroleum and natural gas in 2020, a recent analysis from the Energy Information Administration (EIA) shows. Domestic petroleum and natural gas output fell year/year in 2020 after reaching record highs in 2019, EIA said in…

July 20, 2021
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