More Economics & Oil Market News

EIA: US oil production in 2015 expected to be highest since 1972

Total US crude oil production in 2015 will reach its highest level since 1972, the US Energy Information Administration forecasts in its Short-Term Energy Outlook (STEO) released June 10. Production, which averaged 7.4 million b/d in 2013, is expected to average 8.4 million b/d in 2014 and 9.3 million b/d in 2015.

IEA outlook: ‘Golden Age’ of gas to extend to China

The “Golden Age” of natural gas that has taken such a strong foothold in North America will extend to China over the next 5 years, driven by booming demand, according to the latest 5-year gas market outlook from the Paris-based International Energy Agency.

Study: Future gas use uncertain in Europe

A high price relative to coal and increasing use of renewable energy make future demand for natural gas especially uncertain in Europe, according to an analyst at the Oxford Institute of Energy Studies, London.

MARKET WATCH: Oil futures prices climb before OPEC meeting

The crude oil contract prices for July delivery settled above $104.40/bbl on the New York market on June 9, reaching its highest front-month level since Mar. 3 while the spread between US light, sweet crude and Brent crude narrowed to $5.58/bbl, the smallest gap since Apr. 15.

MARKET WATCH: Crude oil futures end week slightly higher

The New York Mercantile Exchange July crude oil contract price was up 18¢, closing at $102.66/bbl on June 6. The August contract gained 13¢ to $101.94/bbl.

EIA: Light, sweet crude from tight formations source of US oil production increases

About 96% of the 1.8-million b/d growth in US production during 2011-13 consisted of light, sweet crude grades with API gravity of 40° or higher and sulfur content of 0.3% or less, the US Energy Information Administration reported on June 6.

MARKET WATCH: Crude, gas futures prices waffle in mixed market

The New York Mercantile Exchange July crude oil contract price declined 16¢ closing at $102.48/bbl on June 5. The August contract dropped 12¢ to settle at $101.81/bbl.

NGSA: US gas prices to feel slight upward pressure this summer

US natural gas likely will feel modest upward pressure this summer from levels a year earlier when Henry Hub prices averaged $3.77/MMbtu, the Natural Gas Supply Association said in its 2014 Outlook for Summer Gas, released June 4.

Akin Gump: Mozambique, Tanzania are updating petroleum laws

The governments of Mozambique and Tanzania are developing laws and regulations so those nations can tap into revenues from potential natural gas export projects, a partner with Akin Gump Strauss Hauer & Field LLP said during a midyear energy briefing on June 4.

IHS: India needs to reform gas prices

Uncertain reform of natural-gas pricing in India, if allowed to move forward, would revive oil and gas investment and help the government balance its accounts, according to a new study by IHS.

MARKET WATCH: NYMEX oil prices drop on high product supplies

Crude oil futures settled lower June 4 on the New York market where the settlement has been lower than the previous day for five of seven trading sessions while crude oil futures on the London market also dropped, marking a fourth consecutive decline.

MARKET WATCH: NYMEX oil futures up slightly awaiting inventory report

Oil futures prices rose modestly on the New York market on June 3 as analysts correctly anticipated a drop in US oil inventories.

CNPC called ‘winner’ in Gazprom gas deal

The $400 billion natural gas deal Gazprom signed with China National Petroleum Corp. last month strongly favors the Chinese company and its country, writes an analyst with Chatham House, the Royal Institute of International Affairs, London.

MARKET WATCH: NYMEX oil prices fall on mixed signals from international news

Oil prices fell on the US and London markets June 2 upon mixed signals, and some analysts said downside price risks appeared to be increasing from growing oil exports from Iraq and anticipated new production from Angola.

Market dynamics key to US LNG exports to Asia, witnesses say

US exports of LNG to Asia are more likely to be determined by overseas market dynamics than by US government policies, witnesses told a US House Foreign Affairs Committee subcommittee on May 29.

Market Connections

Large Capacity Natural Gas Pipeline located in South Texas Eagle Ford Shale Area. Growing company is currently seeking qualified candidates for IMMEDIATE OPENINGS: Gas Pipeline Compressor Station Operator, Gas Pipeline Compressor Station I&E Technician, Gas Pipeline Compressor Station Maintenance Technician.

Growing company is currently seeking qualified candidates for IMMEDIATE OPENINGS

Large Capacity Natural Gas Pipeline located in South Texas Eagle Ford Shale Area. Growing company is currently seeking qualified candidates for IMM...
Successful, small, private E&P Company in Covington, LA has opening for experienced Petroleum Engineer. Work with Mgmt and Earth Scientists, limited supervision, well-organized, team player.  Exp performing O&G well file research, compiling data, preparing AFEs, economics, writing procedures and recommendations.  Exp in supervising workovers, well intervention projects, and knowledge of ops in both onshore and inland waters.  Petroleum Engineering degree or equivalent.  Exp in planning and executing sidetracks and new drills preferred.   Communication skills a must.   Current BOP cert preferred.  Comp benefits.

Gulf Coast Petroleum Engineer

Successful, small, private E&P Company in Covington, LA has opening for experienced Petroleum Engineer. Work with Mgmt and Earth Scientists, li...
Vantage Drilling

Currently Hiring Positions in the Gulf of Mexico

Vantage Drilling is an international offshore drilling contractor which operates and manages a fleet of modern, high specification drilling rigs on...
chemark

Now Searching: Director of Innovation, Oilfield Chemicals

Now Searching: Director of Innovation Oilfield Chemicals: Position is responsible for leadership in identification and development of new product n...
Transocean

Are You Ready to Unlock Your Potential?

WE UNLOCK POTENTIAL. Our mission is to unlock the world’s natural resources from the deepest parts of the ocean. We know it takes a team of driven,...

Oil & Gas Conferences

  • List View
Event Title Date Type

Offshore Middle East Conference & Exhibition

January 26, 2015
Stay Connected