Industry Trends ///

Interior Department revises "burdensome" Venting and Flaring Rule

The U.S. Department of the Interior's Bureau of Land Management (BLM) has announced a final rule that revises the 2016 Waste Prevention Rule (also known as the Venting and Flaring Rule).

Gastech 2019: Gas to rise by over 50%, U.S. to become world’s largest LNG exporter

Gastech 2018, the global exhibition and conference at the forefront of the international gas, LNG and energy industries, today heard forecasts that the U.S. will become the world’s leading LNG supplier by 2028 and still be the largest natural gas producer by 2040.

Riverstone plans $900-million sale of oilfield services equipment company

Riverstone Holdings LLC is preparing to sell oilfield services equipment company Abaco Energy Technologies, which could fetch about $900 million, according to people with knowledge of the matter.

Battered oil-sands servicers pin hopes on Shell's LNG project

After years of suffering through plunging energy prices and declining spending by oil-sands companies, Canada’s oilfield-service industry is seeing a light on the horizon.

Saudi Arabia is said to be comfortable with Brent above $80

Saudi Arabia is now comfortable with Brent oil prices rising above $80/bbl, at least in the short term, as the global market adjusts to the loss of Iranian supply from U.S. sanctions, according to people familiar with the kingdom’s view.

Vitol-Cheniere pact shows long-term LNG deals aren't dead

Developers of LNG export terminals can breathe a sigh of relief: A supply boom hasn’t killed the long-term contracts that underpin the projects.

Trade war escalation could slow U.S. LNG expansion

U.S. gas is under threat as a trade war with China escalates.

Crude see-saws as supply crunch muted by impending demand drop

Oil capped recent gains as international supply concerns were overshadowed by a looming demand drop.

Grey Matters initiative to harness oil, gas expertise to create viable new businesses

A transformative initiative which brought together redundant but highly experienced oil and gas professional, to create and launch exciting, innovative and scalable businesses is aiming to build on its success, as applications open for the third program.

OPEC sees need to keep oil supply deal as demand faces headwinds

OPEC needs to keep working with other oil producers to manage global supplies as demand for crude faces “headwinds,” the head of the organization said.

Tale of two oil markets: Brent bulls split from U.S. optimists

For oil investors, this is both the best of times and the worst of times, depending on which crude benchmark you trade.

Crude set for weekly gain as Iran sanctions bite into supply

Crude is poised for a third weekly advance out of four as Iranian sanctions take center stage, with investors eyeing the impact on supply.

OGIC supports new research projects for digitalization in oil and gas

The Oil & Gas Innovation Centre (OGIC) is supporting three new research projects centred on how digitalization can improve efficiency and provide cost savings to the oil and gas industry.

EIA: Tighter crude oil markets contribute to higher forecast prices

In the September 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) increased the forecast price for the Brent spot price to $73/bbl in 2018 and $74/bbl in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/bbl lower than Brent prices in 2018 and in 2019.

Oil declines as supply fears ease, Trump tweets on Chinese trade

Crude dropped the most in almost a month as global supply concerns receded and a demand-killing trade war intensified.

Saudis tap ex-Solicitor General Olson to lobby against "NOPEC"

Saudi Arabia is taking no chances with the longshot "NOPEC" bill, hiring former Solicitor General Ted Olson as a lobbyist to campaign against the act.

IEA warns of higher oil prices as Iran, Venezuela losses deepen

The International Energy Agency warned that oil prices could break out above $80/bbl unless other producers act to offset deepening supply losses in Iran and Venezuela.

Iran endures longest gap in China's oil buying in three years

Iran just endured the longest gap without sending oil to its biggest customer in at least three years as imminent U.S. sanctions pile pressure onto Tehran.

EIA: U.S. overtakes Russia, Saudi Arabia as world's largest crude producer

The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO).

Oil majors face "monumental" costs to reach climate goals

Europe’s largest oil companies must roughly double the amount of money they’re now dedicating to “new energies” by the end of the decade to meet key climate targets, according to a report from JPMorgan Chase & Co. that suggests the challenge facing the fossil fuel industry has been vastly underestimated.