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MARKET WATCH: Crude oil futures prices hold steady above $102/bbl

Jul 28, 2014

The New York Mercantile Exchange September crude oil contract ticked up 2¢ on July 25, closing out the week at $102.09/bbl. The October contract increased 15¢ to $100.87/bbl.

EIA: OPEC’s 2013 oil export revenues fall 7%

Jul 28, 2014

According to recent estimates from the US Energy Information Administration, members of the Organization of the Petroleum Exporting Countries, excluding Iran, earned about $826 billion in net oil export revenues in 2013, a 7% decrease from 2012 earnings. But this was still the second-largest earnings totals during 1975-2013—the timespan of how long EIA has tracked OPEC oil revenues.

EIA: Summer natural gas injection continues at a record pace

Jul 28, 2014

The US Energy Information Administration’s current Short-Term Energy Outlook projects a record build of nearly 2,600 bcf from the beginning of April through the end of October, which would put inventories at 3,431 bcf at the end of October. In line with EIA's expectations, working natural gas storage midway through the summer storage injection season is on pace to for a record overall build.

BOEM seeks information for possible 2017 Beaufort Sea lease sale

Jul 28, 2014

The US Bureau of Ocean Energy Management issued a call for information and nominations on July 25 for a possible 2017 oil and gas lease sale in the Beaufort Sea off Alaska’s coast. Comments for what would be OCS Lease Sale 242 will be accepted for 45 days, it said.

States with fracing are economically stronger, House panel told

Jul 28, 2014

US states that embraced hydraulic fracturing and horizontal drilling staged stronger economic recoveries than those that did not since 2008 when the country plunged into recession, an economist told a House Energy and Commerce subcommittee.

LNG export bill offers a compromise, Hoeven says

Jul 25, 2014

US Sen. John Hoeven (R-SD) introduced an LNG export bill that he said represents a compromise between measures introduced from both sides of the aisle. S. 2638 would give the US Department of Energy 45 days to make a national interest determination after an export project sponsor filed an application with the US Federal Energy Regulatory Commission, Hoeven said on July 24.

MARKET WATCH: Crude futures prices continue drawback from recent highs

Jul 25, 2014

Crude oil futures prices in New York and London markets continued to draw back July 24 from recent high levels. Analysts with Raymond James & Associates Inc. noted that investors shrugged off fears that sanctions imposed by the European Union could impact Russian oil supplies.

Texas Petro Index sets record for 7th straight month

Jul 24, 2014

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), continued to produce record highs last month amid an “economic tsunami.”


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