Permian shale gas from West Texas continues to find increasing market share south of the border in Mexico amid robust demand and more pipelines connecting the central and southwest regions of the Latin American country.
Stratas Advisors expects oil prices will rebound from the current level and, for the most part, remain throughout the third quarter within the channel between $100 and $120. Here’s why.
Stratas Advisors expects oil prices will be under pressure for the upcoming week from the weakening economic outlook as the latest GDP numbers for the U.S. confirm the firm’s view that the U.S. economy has been slowing down.
Today’s featured 25 Influential Women in Energy honoree is Emily McClain, vice president on Rystad Energy’s gas markets team based in Houston.
Gazprom said the three-day shutdown of Nord Stream 1 was because the pipeline’s only remaining gas compressor requires maintenance, yet the move will bring further disruption, particularly for Germany.
“Refiners will continue to run hard in Q3,” Tudor, Pickering, Holt refining analyst Matthew Blair said in a note this week, adding he would not be surprised “if Q3 runs weren't higher” than June given past conservative forecasts.
OPEC Secretary General Haitham Al Ghais maintained a relatively positive outlook for oil production in 2023 during a recent call.
A strong dollar has made oil more expensive for holders of other currencies, while equities, which often move in tandem with oil prices, also dropped.
The cash consideration at closing for private Haynesville producer EnSight was $125.5 million, revised from the announced $125 million due to preliminary purchase price adjustments, a release from Tellurian on Aug. 18 said.
Permian shale gas from West Texas continues to find increasing market share south of the border in Mexico amid robust demand and more pipelines connecting the central and southwest regions of the Latin American country.
Kazakh President Kassym-Jomart Tokayev met Chevron CEO Michael Wirth in Kazakhstan on Aug. 18 and also discussed with him potential investments in petrochemicals and the expansion of Karachaganak, another giant oil project.
Comprised of workers from the Australian Worker's Union and the Maritime Union of Australia, the Offshore Alliance stated that it would "extend industrial action for as long as it took" to reach an agreement with Shell.
"There will be concern that prices could fall back to lower levels that wouldn't justify new capex," energy analyst Arjun Murti said, speaking of how traders and fund managers have left the crude markets recently due to market volatility.
Marathon Petroleum’s Trans-Foreland said it has yet to make an FID to build the project because the COVID-19 pandemic and the war in Ukraine have worsened economic and logistical conditions.