Trends
2016, August, 30, 18:50:00
OIL EXPLORATION & PRICES
With oil prices down by more than half since the price collapse two years ago, drillers have cut their exploration budgets to the bone. The result: Just 2.7 billion barrels of new supply was discovered in 2015, the smallest amount since 1947. This year, drillers found just 736 million barrels of conventional crude as of the end of last month.
2016, August, 30, 18:40:00
ALASKA LNG: LEAST COMPETITIVE
“The Alaska LNG project is one of the least competitive on a cost of supply basis compared with other”
2016, August, 25, 18:45:00
U.S. OIL & GAS BENEFIT
U.S. production is a clear factor in lower global crude prices, which has translated into lower energy costs for individual Americans and families. Year-over-year U.S. gasoline prices have declined by almost 50 cents per gallon, due in large part to the decline in the price of crude oil.
2016, August, 25, 18:35:00
THE LARGEST LNG IMPORTERS
Japan, South Korea, and China are the three largest importers of liquefied natural gas (LNG) in the world, accounting for more than half of global LNG imports in 2015. Combined LNG imports in these countries averaged 18.2 billion cubic feet per day (Bcf/d) in 2015, a 5% (0.9 Bcf/d) decline from 2014 levels and the first annual decline in these countries' combined LNG imports since the global economic downturn in 2009.
2016, August, 24, 18:50:00
PRICE CAN BE STRONGER
It suggests that crude oil could be entering a more stable trading range of $50-$70/barrel rather than falling back below $50 again for a significant period.
2016, August, 23, 18:45:00
CHINA'S GAS FUTURE
In the year through June, China's gas consumption rose 9.8 percent to 99.5 bcm, the National Development and Reform Commission (NDRC) reported. Production edged up 2.9 percent to 67.5 bcm, while imports jumped 21.2 percent to 35.6 bcm, the top planning agency said.
2016, August, 23, 18:30:00
AUSTRALIAN LOOSES
Amid all the gloom inflicted by adverse market conditions, intense focus on efficiency improvement emerges as a bright underlying theme. With oil prices now $50./b after hitting a low of $27 a barrel in January, the expectation is that some stability may finally be returning to the market. Higher oil price is certainly a positive for producers.
2016, August, 22, 18:45:00
NERVOUS OIL PRICES
This summer the U.S. oil price has whipsawed from more than $50 a barrel in June to below $40 earlier this month. In the past two weeks it has risen more than 20%, to a recent $48.22 a barrel.
2016, August, 22, 18:40:00
CHINA'S FUEL EXPORTS UP
Customs data showed on Monday that diesel exports rose 181.8 percent to a record 1.53 million tonnes, almost tripling China's average monthly export volume in 2015.
2016, August, 19, 18:50:00
ASIAN LNG IMPORTS UP
Five Asian countries (Japan, South Korea, China, India, and Taiwan) accounted for 68% of global LNG imports in 2015. In the first six months of 2016, in total, these five countries only increased their LNG import volumes by 1% (0.2 billion cubic feet per day (Bcf/d)), compared to the same period last year. However, higher imports in China and India more than offset declines in LNG consumption in the established markets of Japan and South Korea.
2016, August, 19, 18:45:00
THAILAND'S LNG WILL UP
Thailand's largest energy firm PTT Pcl plans to import at least 5 million tonnes of liquefied natural gas (LNG) in 2017, up from 3 million tonnes this year as local gas production fades.
2016, August, 18, 18:50:00
OPEC REVENUE DOWN 46%
OPEC revenue has fallen in step with the steep decline in crude oil prices. The monthly average Brent spot price dropped from $112 per barrel in June 2014 to $38/b in December 2015. OPEC revenue is expected to fall further in 2016 to $341 billion before rising to $427 billion in 2017.
2016, August, 16, 18:45:00
GAS PRODUCTION 2040: 554 BCFD
Natural gas production worldwide is projected to increase from 342 billion cubic feet per day (Bcf/d) in 2015 to 554 Bcf/d by 2040.
2016, August, 15, 18:40:00
AUSTRALIAN LNG UP TO 2%
Australia’s LNG exports rose by 2% last month following a worldwide rise in demand for the product.
2016, August, 12, 18:45:00
SAUDI RAISES PRICES
Saudi Arabia didn’t agree to limits on its production back in April because Iran, its regional rival, refused to join in. Several OPEC members want to revive the idea because Iran has regained much of the energy-industry might it lost during the years of Western sanctions.