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Small-Scale LNG
When markets are free to innovate and exploit opportunities they tend to do so. A good example is the domestic natural gas market. The shale revolution resulted in extensive reserves of light oil and natural gas. The abundance of natural gas provided a stable supply but the sheer magnitude of reserves exerted downward pressure on… Read More
Signatories Satisfied (So Far)
“World Oil” reports that OPEC members Saudi Arabia, Kuwait, Qatar, Algeria and Venezuela, have met with their non-OPEC counterparts in Vienna. Apparently they have developed a mechanism to monitor compliance with the 24 nation agreement to cut back oil production by 1.8 million barrels of oil per day (bopd). According to Saudi Minister of Energy… Read More
So Far, So Good?
“Rigzone” reports that the International Energy Agency (IEA) feels that the oil production cutback agreement between OPEC and 11 other producing nations has entered its “probation period.” Nevertheless, preliminary indications are encouraging. Markets are tightening, prices are rising and demand is expected to increase. This could be partially offset by increasing production from parties that… Read More
Saudis Optimistic
“Rigzone” reports that Saudi Oil Minister, Kalid Al-Falih, is confident that all the parties to the recent production cutback agreement will comply, demand will pick up, the global oil glut will disappear, and the market will re-balance by the end of the second quarter. If all this happens, prices will recover and he sees no… Read More
Discovery Recovery
“World Oil” reports that consulting group Wood Mackenzie predicts a revival in oil and gas exploration. Unfortunately, at this point, any signs of life would constitute a revival. When oil prices collapsed, operators slashed budgets and exploration was especially hard hit. When struggling to survive, exploration is the one place you can cut costs without… Read More
