IEA Cuts Oil Demand Outlook Due to COVID-19 Resurgence
The emergence of new strains of the virus, renewed lockdowns in China and logistical hurdles facing vaccine roll-outs contributed to the gloomier oil demand outlook by the IEA.
Wind Power Overtakes Coal in Texas Electricity Generation
Renewables capacity is surging in Texas, which is largely considered the heartland of fossil fuels in the U.S.
What’s Affecting Oil Prices This Week? (Jan. 11, 2021)
The U.S. political arena and the management of the oil markets are poised for interaction, and the resulting dynamics could trigger market volatility that will surpass even that seen last year, Stratas Advisors says in its latest oil price forecast.
Saudi Cut to Boost Oil Market De-Stocking as Demand Falters
Barclays notes that the COVID-19 situation puts the oil market in ‘uncharted territory.’
The Latest
Crude Oil
Magellan, Enterprise to Develop Houston Crude Oil Futures Contract
Quality specifications will be consistent with WTI crude oil originating from the Permian Basin, with delivery capabilities at either Magellan's East Houston terminal or Enterprise's ECHO terminal.
Public Capital
New Fortress Bets on Brazil’s LNG Growth with $5 Billion Worth of Deals
U.S.-based New Fortress Energy Inc. said on Jan. 13 it would buy natural gas company Hygo Energy Transition Ltd. and its controlling company Golar LNG Partners LP, expanding its presence in Brazil.
Crude Oil
OPEC ‘Cautiously Optimistic’ Oil Market Will Recover in 2021
Oil prices have rallied to an 11-month high this month, helped by a Jan. 5 decision by most members of OPEC+ to hold production steady in February and a pledge by Saudi Arabia to voluntarily cut output.
Crude Oil
IEA Cuts Oil Demand Outlook Due to COVID-19 Resurgence
The emergence of new strains of the virus, renewed lockdowns in China and logistical hurdles facing vaccine roll-outs contributed to the gloomier oil demand outlook by the IEA.
Business
PATH FORWARD: KPMG’s New US Head of Energy Angie Gildea on Navigating 2021
Angie Gildea, who was recently named the U.S. national sector lead for KPMG’s energy business, sat down with Hart Energy’s Jessica Morales to talk about key areas the oil and gas industry should focus on in the year ahead.
Unconventional
OPEC Sees US Shale Output Recovering Further on Oil Rally
The outlook for U.S. shale oil is slightly more “optimistic” due to rising prices and output will recover further in the second half of 2021, OPEC said on Jan.14, in a sign its policy of cutting output is helping rivals pump more.
Liquefied Natural Gas (LNG)
Tellurian Aims for Louisiana LNG Construction Start This Summer
Driftwood will help meet soaring demand for LNG, says co-founder Souki.
Liquefied Natural Gas (LNG)
Panama Canal LNG Vessel Bottleneck Could Last until March
Congestion delaying LNG shipments via the Panama Canal is expected to last through the peak demand winter months, traders close to the situation said on Jan. 14, although the canal’s regulator said it had made changes to speed up transit.
Business
US Shale Producers Lock in Future Sales as Oil Prices Hit One-year High
U.S. shale producers that are hedging are likely locking in about 15% to 20% of production at a time, said Tom Petrie, chairman at energy investment bank Petrie Partners.
Crude Oil
IEA: Oil Market Outlook Clouded by Vaccine Roll-Out Variables
Pace and response to vaccines add uncertainty to planning, says agency analyst.