O&G balancing?

  Bloomberg reported that we are going to get a balanced market by 2017 where production will match consumption and this is thanks to turmoil in oil producing nations as opposed to actual cut in production. World oil production in 2017 will very nearly match consumption, ending several years of oversupply, the Paris-based IEA forecast … More O&G balancing?

Being irrelevant

This week the O&G industry sees crude oil prices rising closer to the USD50 mark a barrel with WTI crude at USD48.62 and Brent crude at USD49.64 as of June 5th. With the current upward trend, it is not too reaching to speculate that crude prices may possibly touch USD60 and beyond by end of … More Being irrelevant

Solar vs O&G

 Bloomberg reported that the number of jobs created in the solar energy business grew 12 times faster than overall job creation in the US and surpassed those in the oil & gas sector for the first time last year. About 8.1 million people worldwide had jobs in the solar energy sector in 2015, up from … More Solar vs O&G

Petronas’ Canada LNG project has more support than it is made out to be

  TransCanada announced that it had secured the final permit to build its 650 km  Coastal GasLink pipeline linking natural gas fields in northeastern British Columbia to LNG Canada’s proposed liquefied natural gas export project in Kitimat, B.C. All it takes now is for LNG Canada to make a FID on their LNG export project … More Petronas’ Canada LNG project has more support than it is made out to be

Sliding again

Reuters reported today that oil prices fell again as rising output in the Middle East raised concerns over possible glut amid negative outlook for demand. Iraq said its oil shipments from southern fields averaged 3.364 million barrels per day (bpd) in April, up from 3.286 million in March. Production from top exporter Saudi Arabia was … More Sliding again