More Economics & Oil Market News

SAFE: Expanded use of natural gas as US motor fuel ‘sensible strategy’

Expanding the use of natural gas to fuel US motor vehicles, even partially, is the most sensible strategy for reducing petroleum’s dominant fuel position—and the nation’s reliance on oil imports from politically unstable parts of the world. This was one of many messages shared by panelists during a day-long conference in Washington, DC, sponsored by Securing America’s Future Energy that examined lessons learned in the 40 years since the start of the Arab oil embargo.

IEA unveils new ‘energy efficiency’ market report

Energy efficiency markets around the world drew investment of as much as $300 billion in 2011, according to a recently unveiled report from the International Energy Agency called the “Energy Efficiency Market Report.”

PIRA: Shale production growth makes US largest liquids producer

US total oil supply is expected to average 12.1 million b/d this year, making it the world’s largest oil producer, PIRA Energy Group, an energy markets consulting firm in New York, reported. PIRA counts oil supply as all liquids, including condensates.

MARKET WATCH: Crude oil prices down as US government shutdown lingers

The front month crude oil contract on the New York market dropped to the lowest level on Oct. 15 since it last settled below $100/bbl on July 2.

Schlesinger: US in better oil, gas position now than in 1973

The US is in a better oil and gas position now than it was 40 years ago when Arab oil producers cut off shipments in response to US support of Israel soon after the Yom Kippur War began, former US Defense and Energy Sec. James Schlesinger said.

MARKET WATCH: Crude oil traded higher amid Washington budget talks

Crude oil futures prices traded higher on the New York market Oct. 14 as US lawmakers reported progress in ongoing efforts toward reaching an agreement to reopen the federal government and to avoid a potential debt crisis.

IEA: September OPEC crude supplies slipped below 30 million b/d

Due to lower output from Iraq and Libya, OPEC crude oil supplies in September fell by 645,000 b/d to 29.99 million b/d, below the 30 million b/d threshold for the first time in almost 2 years, according to the International Energy Agency’s most recent Oil Market Report.

MARKET WATCH: Oil prices close down at end of volatile week

The NYMEX November crude contract lost 99¢ on Oct. 11, settling at $102.02/bbl ending a week of volatile trading. The December contract fell 83¢ to $102.06/bbl.

Senate passes gulf transboundary bill, forwards to House

The US Senate approved legislation authorizing the US Department of Interior to implement terms of the Gulf of Mexico transboundary agreement with Mexico on Oct. 12. The bill, S. 812, headed for the US House of Representatives, which passed its own legislative version on June 26 as part of a larger package.

Mexican proposal seeks Pemex profit-sharing

A proposal for hydrocarbon revenue by Mexican President Enrique Pena Nieto provides a hint about a possible structure for oil and gas investment by outsiders in Mexico, says a legal update by the law firm Mayer Brown.

MARKET WATCH: Oil, gas prices gain back losses in waffling market

The NYMEX November crude contract gained $1.40 on Oct. 10, settling at $103.01/bbl. The December contract jumped $1.46 to $102.89/bbl.

MARKET WATCH: Crude prices fall on news of stock build

Crude oil futures prices fell Oct. 9 on news of a larger-than-expected build in inventories from the US Energy Information Administration. Natural gas prices also dipped.

EIA: Household gas spending to rise 13% during 2013-14 heating season

In its most recent Short-Term Energy and Winter Fuels Outlook, the US Energy Information Administration outlined that it expects US households heating with natural gas to spend an average $679 this winter, up 13% from last winter but still lower than the previous 5-year average.

Speakers say innovation to sustain North American gas boom

Innovation will sustain the North American boom in natural gas production from unconventional resources despite an extended period of low prices.

MARKET WATCH: WTI ‘more vulnerable’ than Brent to price slide

Brent crude oil will be “well supported on approach of $100/bbl despite yesterday’s global growth forecast downgrade by the [International Monetary Fund],” according to analysts at Standard New York Securities Inc., the Standard Bank Group.

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STATE OF IDAHO NOTICE OF SALE OF OIL AND GAS LEASES

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Optimizing Careers for Oil and Gas Leaders Through Professional Short Courses at Colorado School of Mines

Optimizing Careers for Oil and Gas Leaders Through Professional Short Courses at Colorado School of Mines

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January 26, 2015
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