WTI Crude
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Natural Gas
2.96

Category: March 2016

Economists: Worst Of The Oil Collapse Is Over

COLLEGE STATION - When it comes to Texas's economy, new research suggests the worst of the oil price collapse is over. Researchers at the Texas A&M University Real Estate Center say a month ago, oil bottomed out around $29 a barrel. This week, it's around $39. In the last three months, Chief Economist Dr. Jim Gaines says Texas' unemployment is slowing after a major decline in the energy industry last year. "The biggest monthly job loss was probably in about…

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Schlumberger-Cameron Megadeal Clears Final Hurdle, Sets Closing Date

Schlumberger Ltd. plans to close its multibillion-dollar acquisition of Cameron International Corp. on April 1. The oil field services companies announced on March 25 that the Chinese Ministry of Commerce approved the deal without any conditions, representing the last major closing condition. The $14.8 billion stock-and-cash deal was announced last August and was expected to close in the first quarter of 2016. The deal allows Schlumberger to diversify into the energy equipment supply business and create a one-stop shop for upstream companies…

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Largest New U.S. Refinery Since 1976 Planned For N.D.

Plans are moving forward to build the biggest new refinery in 40 years in the U.S. at a time when gasoline consumption is expected to break an all-time record in 2016. California-based Meridian Energy Group is expected to begin construction soon on the planned Davis Refinery in North Dakota that would take advantage of the Bakken shale play and process up to 55,000 barrels of oil a day. The project comes on the heels of the 2015 opening of the…

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US Oil Inventories Rise Less Than Forecast

US oil inventories rose less than analysts forecast last week, the latest sign of the ongoing re-balancing in the crude market. US oil stocks rose by 2.3m barrels last week, the Energy Department reported, compared to expectations of 2.8m barrels. The build comes after a 9.4m barrel surge in the previous week. Inventories remain at “historically high levels for this time of year,” the Energy Department noted. Inventories in Cushing, Oklahoma, a key delivery hub, fell by 272,000 barrels, compared…

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As goes Texas, so goes China?

Two countries have similar trends in energy and pollution – Texas and China share a lot of similarities when it comes to energy production and polluting emissions. On the bad side, Texas produces more toxic emissions than other state in the country. That's largely due to the businesses around Houston that refine oil into fuel and petrochemicals for the rest of nation to use. Funny that America never thanks us for that. China is the world's leading polluter, creating toxic…

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Technology could Solve Longstanding Problem Of Separating Gas From Water

When oil and gas are extracted from the earth, water also comes to the surface. Known as produced water, it contains naturally occurring hydrocarbons, salt, bacteria, radioactive material and other compounds, as well as any chemical additives used to ease extraction. Each year, the U.S. alone generates more than 21 billion barrels (approximately 900 billion gallons) of produced water from oil and gas extraction, including hydraulic fracturing. To treat this water before disposal or reuse, the industry depends on filtration…

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Rangeland Aims To Connect Corpus Refineries To Mexico Markets

Rangeland Energy will soon be laying a loop of rail tracks it hopes will help link Corpus Christi refineries to the fuel-hungry and newly privatized markets of Mexico. The private-equity-backed company this week announced plans to build a $100 million rail and storage terminal that will be a staging area for gasoline, diesel and other fuels. The petroleum that passes through will join a growing stream of southbound fuels that has attracted the attention of both refineries and companies looking…

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Can Mexico Sustain Last Year’s Natural Gas Demand Growth?

Summary US exports to Mexico jumped in 2015 on LNG export replacement. New pipelines combined with new power plant capacity will send more gas to Mexico. Natural gas pipelines in Mexico allow expansion into untapped population centers. On the demand side of the natural gas markets, US exports historically played a minor role compared to demand from the US power, industrial, and res/com sectors. However, since 2010, there has been a substantial increase in gas volumes delivered to Mexico. The…

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Saudi Arabia Loses Oil Market Share To Rivals In Key Nations

Saudi Arabia lost market share in more than half of the most important countries it sold crude to in the past three years, even as the kingdom increased output to record levels. Further coverage of the far-reaching implications of the protracted slump in oil prices The world’s biggest oil exporter lost ground to rivals in nine out of 15 top markets between 2013 and 2015, including China, South Africa and the US, according to an analysis of customs data. Saudi…

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5 Reasons Oil Is On Track For Biggest Monthly Gain In Nearly A Year

Oil futures are set to score their largest monthly gain in almost a year, even though U.S. crude supplies climbed in each of the last six weeks and major oil producers have yet for formalize a plan to stabilize output. West Texas Intermediate crude futures CLK6, -3.43%  settled at $39.46 on Thursday, up nearly 17% month to date. A monthly gain of that size would be the largest since April of last year. Markets were closed Friday for the Good…

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