Tax reform is on the minds of US oil producers, refiners
The wave of fourth-quarter 2016 earnings calls is just getting started, but tax reform already seems to be the topic du jour for oil and gas companies.
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(Wed, 01 Feb 2017) In January 2017, Entergy Nuclear and the state of New York reached an agreement to retire the two nuclear reactors at the Indian Point Energy Center, located in Buchanan, New York, about 25 miles north of New York City. Indian Point is one of four nuclear power plants in New York state and accounts for about 12% of total electricity generated from all sources statewide.
Major U.S. tight oil-producing states expected to drive production gains through 2018
(Tue, 31 Jan 2017) In EIAâs January <em>Short-Term Energy Outlook</em>, U.S. crude oil production is forecast to increase from an average of 8.9 million barrels per day (b/d) in 2016 to an average of 9.3 million b/d in 2018, primarily as a result of gains in the major U.S. tight oil-producing states: Texas, North Dakota, Oklahoma, and New Mexico.
History repeats as US E&P operators grow by acquisition: Fuel for Thought
Barely three weeks into the New Year, US upstream merger and acquisitions have sizzled as players in a charged-up industry are hungry to get moving.
Container Shipping: What next for the smaller TEU fleet? (Part 2)
Smaller TEU vessels have struggled to find a logical home since the Panama Canal expansion as logistics companies are utilizing the neo-Panamax gauge for economies of scale.
Natural gas-fired generating capacity likely to increase over next two years
(Mon, 30 Jan 2017) The electricity industry is planning to increase natural gas-fired generating capacity by 11.2 gigawatts (GW) in 2017 and 25.4 GW in 2018, based on information reported to EIA. If these plants come online as planned, annual net additions in natural gas capacity would be at their highest levels since 2005.
EIAâs weekly natural gas storage data now include measures of sampling variability
(Fri, 27 Jan 2017) Starting with the release of data for the week ending January 20, 2017, EIAâs <em>Weekly Natural Gas Storage Report</em> (WNGSR) now provides information about the statistical properties of published estimates of weekly working natural gas levels and their net changes. The methodology for the storage data itself, however, is unchanged.
Strategic Petroleum Reserve sales expected to start this month
(Thu, 26 Jan 2017) Yesterday the U.S. Department of Energy's (DOE) Office of Fossil Energy awarded contracts for the first of several sales of crude oil from the Strategic Petroleum Reserve (SPR). A Continuing Resolution enacted in December 2016 included a provision for DOE to sell up to $375.4 million in crude oil from the SPR. This sale will be the first of several planned sales totaling nearly 190 million barrels during fiscal years 2017 through 2025.
Crude correlations about crude oil can shed light on changes
A high degree of correlation between various regional and global crude oil crude benchmarks can show how relationships have changed over the past year.
Global crude oil balances expected to tighten through 2018
(Wed, 25 Jan 2017) EIA estimates that crude oil and other liquids inventories grew by 2.0 million barrels per day (b/d) in the fourth quarter of 2016, driven by an increase in production and a significant, but seasonal, drop in consumption. Global production and consumption are both projected to increase through 2018, but consumption is expected to increase at a faster rate than production. As a result, global balances are expected to tighten.