Oil and Gas Industry

The Week Ahead For Crude Oil, Gas and NGL Markets – Apr 15, 2019

CRUDE OIL US crude oil inventories posted an increase of 7.0 MMBbl last week, according to the weekly EIA report. Gasoline and distillate inventories decreased 7.7 MMBbl and 0.1 MMBbl, respectively. The total petroleum inventories showed an increase of 4.1 MMBbl. US crude oil production remained the same as the previous week, per EIA. Crude oil imports were down 0.16 MMBbl/d to an average of 6.6 MMBbl/d versus the week

IMO 2020 – Potential Impacts and Coker Refinery Case Study

On January 1st, 2020, the global shipping industry will undergo a radical change, with all ships having to reduce the sulfur content within marine fuels from 3.5% to 0.5%, as mandated by the International Maritime Organization (IMO). As with all radical changes, winners and losers await, meaning there is significant opportunity everywhere. In this paper, DrillingInfo uses a refinery optimization model to look at the potential effects of this regulation

Injection Lower Than Expected, Prices Show Little Reaction

Natural gas storage inventories increased 25 Bcf, with an implied flow of 29 Bcf, for the week ending April 5, according to the EIA’s weekly report. This injection is well below the market expectation, which was an inventory increase of 38 Bcf. This week also came with reclassifications in the Pacific and South Central regions. In the Pacific, gas stocks showed a reclassification of a 1 Bcf decrease, and South

Prices Increase Despite Bearish Inventory Report

US crude oil stocks posted a large increase of 7.0 MMBbl from last week. Gasoline and distillate inventories decreased 7.7 MMBbl and 0.1 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 4.1 MMBbl alongside gasoline and distillate draws of 7.1 MMBbl and 2.4 MMBbl, respectively. Analysts were expecting a crude oil build of 2.3 MMBbl. The most important number to keep an eye on, total petroleum inventories,

The Week Ahead For Crude Oil, Gas and NGLs Markets – Apr 8, 2019

CRUDE OIL US crude oil inventories posted an increase of 7.2 MMBbl last week, according to the weekly EIA report. Gasoline and distillate inventories decreased 1.8 MMBbl and 2.0 MMBbl, respectively. Total petroleum inventories showed a large increase of 7.2 MMBbl. US crude oil production was higher by 100 MBbl/d compared with the previous week (per EIA). Crude oil imports were up 0.22 MMBbl/d to an average of 6.8 MMBbl/d

2018 Global Exploration Activity Stable and 2019 Outlook Upbeat

Investment in international oil & gas exploration is continuing to show stability following the post-oil price crash low seen in 2016. This is reflected in exploration drilling and licensing data from 2018 and Q1 2019 continuing the trend shown in 2017 with some strong indications of increasing investment through 2019.   Exploration Drilling Worldwide exploration drilling stabilized during 2018 with 1,298 wildcat and appraisal well spuds recorded during the year,

Natural Gas Injection Season Begins

Natural gas storage inventories increased 23 Bcf for the week ending March 29, according to the EIA’s weekly report. This injection is slightly above the market expectation, which was an inventory increase of 19 Bcf. Working gas storage inventories now sit at 1.130 Tcf, which is 228 Bcf below inventories at the same time last year and 505 Bcf below the five-year average. At the time of this writing, the

Large Crude Inventory Build Halts the Price Rally

US crude oil stocks posted a large increase of 7.2 MMBbl from last week. Gasoline and distillate inventories decreased 1.8 MMBbl and 2.0 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 3.0 MMBbl alongside gasoline and distillate draws of 2.6 MMBbl and 1.0 MMBbl, respectively. To the contrary, analysts were expecting a crude oil draw of 0.4 MMBbl. The most important number to keep an eye on,

Hey, World – You’ve Got Some ‘Splaining to Do!

If you’re like me, 95% of your attention is focused on U.S. oil & gas. Probably 95% of that 95% concerns unconventional plays, metrics, news, and activity. What’s happening in the rest of the world? Not enough. We all know that unconventional resource development is increasing the supply of oil and natural gas produced in the U.S. Restatements of recoverable reserves to the upside in the Permian and other play

Murphy to Exit Malaysia

On March 21, 2019, Murphy Oil Corp announced that it had signed a Sale and Purchase Agreement (SPA) with PTT Exploration and Production Public Co Ltd (PTTEP) for the sale of its wholly owned subsidiaries Murphy Sabah Oil Co Ltd and Murphy Sarawak Oil Co Ltd for an all-cash consideration of US$ 2.127 billion. The transaction has an effective date of January 1, 2019, with the transaction expected to be