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Opinion: This Is What Needs To Happen For Oil Prices To Stabilize

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On September 10 th , the EIA reported a production decline in the Lower 48—essentially shale production—of 208,000 BOPD (barrels of oil per day). Rather, Goldman Sachs was grabbing all the headlines with its $20 call on oil. Pundits will claim otherwise, suggesting that oil in the 50s or 60s will spur activity.

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IHS Markit: 2020 low-sulfur requirements for marine bunker fuels causing scramble for refiners and shippers

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On 27 October 2016, the International Maritime Organization (IMO) announced that beginning on 1 January 2020, the maximum sulfur content allowed in marine bunker fuel will be reduced from 3.50% mass by mass (m/m) to 0.50% m/m (35,000 ppm to 5,000 ppm)—five years earlier than many expected. Earlier post.) —Kurt Barrow.

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US offshore oil and gas leasing plan for 2017-2022 focuses on Gulf of Mexico, excludes Arctic

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The OCS Lands Act requires the Secretary of the Interior to prepare a Five-Year Program that includes a schedule of potential oil and gas lease sales and indicates the size, timing and location of proposed leasing determined to best meet national energy needs, while addressing a range of economic, environmental and social considerations.

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GE and Sargas AS partner on gas-fired plants with carbon capture for enhanced oil recovery

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GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). Sargas has created an alliance with Daewoo Shipbuilding & Marine Engineering Co. Overview of the Sargas system.

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API: total US petroleum demand topped 20.8 mb/d in July, highest since 2005; on-road fuel demand down

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The increase in demand came as the US continued to sustain world-leading production, which continues to meet virtually all global oil demand growth. compared with July 2018, even as gasoline prices were 3.6% Refining and petrochemical demand for liquid feedstocks, naphtha, and gasoil (“other oils”) was 5.3 from June and 0.4%

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TransCanada terminates Energy East Pipeline and Eastern Mainline projects

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million barrels of crude oil per day from Alberta and Saskatchewan to the refineries of Eastern Canada and a marine terminal in New Brunswick. Transcanada began the application process in 2013, when oil prices were substantially higher. The company has also faced unrelenting environmental opposition to the projects.

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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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Energy consumption by marine vessels increases from 0.9 Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 Some other key findings of the AEO2014 Reference case include: Low natural gas prices boost natural gas-intensive industries. quadrillion Btu in 2012 to 1.0

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