Industry Trends ///

Regulatory Affairs

David Blackmon, Contributing Editor

A stark reality faces the U.S. oil and gas industry in the 2020 elections

Chinese imports of U.S. oil to pick up following Trump’s trade deal

Under the terms of the agreement, U.S. energy exports to China will jump over the next two years, with the promise of an additional $18.5 billion worth of additional purchases in 2020 and $33.9 billion in 2021.

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices.

Shale discipline could slow U.S. oil output growth by 50% this year

U.S. oil output growth could decelerate by more than 50% next year as greater capital discipline cuts drilling rigs in America’s largest shale patch.

Trump’s ‘beautiful’ China trade deal mandates purchase of U.S. oil and gas

While trade pacts traditionally set the rules and leave the details of actual commerce to markets, the one that Trump’s team has negotiated includes a classified annex that details $200 billion in Chinese purchasing categories.

New York won’t appeal its defeat in Exxon climate trial

New York said it won’t appeal a ruling by a judge who last month rejected the state’s claim that Exxon Mobil Corp. misled investors for years about the energy company’s internal planning for risks linked to climate change.

Parsley Energy boss says shale will finally deliver returns this year

This is the year when shale drillers are finally going to deliver solid returns to investors that have grown weary of the industry’s decade-long cash burn, the head of Parsley Energy said.

Canada’s Cenovus joins oil-sands producers targeting net zero emissions

Cenovus Energy Inc. joined some of its oil-sands peers in setting a goal of reaching net-zero emissions from its operations, part of a push to improve the industry’s reputation and win over environmentally minded investors.

China offers access for foreign oil and gas explorers as part of U.S. trade deal

China said it will open up oil and gas exploration to private and foreign firms, offering further details of a policy that will help assuage concerns over access to the industry ahead of next week’s signing of an interim trade deal with the U.S.

API takes on Democrats’ climate plans in new TV campaign

The oil industry’s top lobbying group on Tuesday is launching a campaign to counter attacks from 2020 Democratic hopefuls vowing to phase out fossil fuels.

Oil buyers fear Iraqi supply hit, in spillover from Iran crisis

Oil buyers in Asia are increasingly wary that Iraq’s entanglement in the worsening dispute between the U.S. and Iran could disrupt shipments from one of their key Middle East suppliers.

Oil touches $70 as supply disruption fears grow

Futures jumped by another 1.4% on Monday as the U.S. State Department warned of a “heightened risk” of missile attacks near military bases and energy facilities in Saudi Arabia.

Equinor targets near-zero emissions in Norway by 2050

In 2050, Equinor expects Norwegian oil and gas production to be less than half of current levels, assuming development of defined projects and substantial efforts to increase production from existing fields and continued exploration.

Oil industry braces for more Mideast turmoil after Soleimani killing

“We should all be bracing for a ferocious response,” said Helima Croft, chief commodities strategist at RBC Capital Markets. “The stage is set for a retaliatory spiral that could keep markets on edge well into 2020.”

Federal Reserve Bank of Dallas: Texas oil sector contracting amid ‘challenging’ conditions

The contraction of the oil and gas industry in and around Texas continued in the fourth quarter as shale producers cut back on spending and jobs, the latest survey from the Federal Reserve Bank of Dallas showed.

Aramco, Lebanon, Persian Gulf oil: A guide to Middle East risks in 2020

If 2019 was the year when a clutch of Middle East markets burst into the mainstream, then 2020 will test whether the foreign money keeps flooding in.

Decoupling of energy stocks from oil prices burns operators

This year has been one of moderate gains for the price of oil, but it has been bleak for producers.

Oil’s 2019 milestones tell the decade’s story of energy abundance

Global oil markets notched up a number of milestones this year that echoed the story of the past decade: the world has shifted from an era of supply tightness to plenty.

Schlumberger commits to Paris Agreement emissions-reduction targets

The emissions-reduction commitment is part of the company’s thought leadership and focus on environmental and social sustainability through its Global Stewardship program.

Self-made billionaire oilman invites Elizabeth Warren on tour of shale sites in her home state

Wildcatter and Continental Resources founder Harold Hamm invited Elizabeth Warren to the Oklahoma oil patch as the U.S. Democratic presidential candidate proposes a ban on fracing if elected.