Forecast ///

Crude oil exports would benefit Great Lakes Region, says Sen. Murkowski

U.S. Sen. Lisa Murkowski, R-Alaska has furthered her efforts to end the current ban on U.S. crude oil exports by releasing a report on the potential benefits to the Great Lakes region if the United States allowed domestic crude oil exports.

Gas glut heading south as shale boom finally reaches Florida

A glut of cheap natural gas trapped in the U.S. Northeast will be heading south by the end of the year, radically changing the price differences between the regions.

Consol’s top investor urges gas spinoff after forecast loss

Less than 12 hours after Consol Energy Inc. indicated it would report a second-quarter loss, its biggest shareholder called on the company to spin off or sell its natural gas operations.

URTeC '15: Speakers assess global market in wake of Iranian deal

An all-star panel of upstream-related speakers managed to agree on Monday morning, that the Iranian deal with the U.S. and other Western countries may pose an oversupply problem for oil markets in the long term, and it will create problems in the very short term, as well.

Add crippling pipe work to Canada gas woes as U.S. floods market

Canadian natural gas producers are losing more ground to U.S. competitors as an acute shortage of pipeline space is forcing them to curb growth.

Schlumberger job cuts paying off

Schlumberger Ltd. is beginning to reap some benefits from more than 20,000 job cuts announced this year to weather the oil-price crash.

Oil set for longest run of weekly losses since January

Brent oil headed for the longest run of weekly declines since January, as ample inventories and an accord to ease sanctions on Iran suggested global markets will remain oversupplied.

Oil falls as inventories at biggest hub rise most since April

Oil fell to a three-month low after an Energy Information Administration report showed inventories at the biggest U.S. hub increased the most since April.

Global LNG market vital to grow Canada’s natural gas production

Canada needs to connect to global liquid natural gas (LNG) markets to avoid a decade of decline in natural gas production, the Canadian Association of Petroleum Producers said today in its 2015 natural gas forecast and LNG report.

Even with the world's second-largest gas reserves, Iran is no Qatar

Natural gas made Qatar’s citizens the richest in the world within a generation. Even with bigger fuel reserves, Iran will struggle to follow its neighbor’s path.

Oilfield chemicals market reached $25 billion in 2014, but growth slowing due to oil price declines

Driven in large part by the rapid expansion of shale oil and gas drilling and production in North America, the world market for oil field specialty chemicals reached $25 billion in 2014, but significant declines in oil price have dampened the demand outlook for oil field chemicals.

Bureaucrats go hungry as Nigerian oil crisis hobbles economy

The plight of the Umeadis and others who haven’t received wages has hit everything from local shops to the banking industry in Africa’s biggest economy, in which about a third of the formal workforce of 11 million is employed by the state, according to Renaissance Capital.

Oil bulls’ will broken as roiled economies pose risk to growth

Speculators retreated from bullish oil bets at the fastest pace since 2012 on mounting concern that economic turmoil in Europe and Asia will prolong a supply glut.

Saudis pump record crude as OPEC sees stronger demand in 2016

Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016.

Oil falls most in five months as Greece, China boost demand risk

Crude tumbled the most in five months amid mounting concern about economic stability in Europe and Asia.

Cenovus sells royalty business for $3.3 billion

Cenovus Energy has reached an agreement to sell Heritage Royalty Limited Partnership (HRP) for gross cash proceeds of approximately $3.3 billion.

Russia-Turkey gas pipeline deal said to stall on price dispute

Russia’s plan to build a new $15 billion pipeline to Turkey is at risk of delay because of a fight over gas prices, according to people with knowledge of the matter.

Oil holds losses below $60 as nuclear talks set to miss deadline

Oil held losses below $60/bbl as investors weighed the prospects of Iran increasing crude exports in an oversupplied market.

Canada energy group cuts oil output forecast as outlays drop

The Canadian Association of Petroleum Producers (CAPP) cut its 2030 oil production forecast by 17% as capital expenditures slipped after crude prices tumbled.

IEA cuts natural gas growth outlook as Asian demand falters

Global natural gas use will rise at a slower pace than previously forecast amid lower-than-expected growth in Asian demand, said the International Energy Agency, cutting its outlook for a third consecutive year.