Poten & Partners addresses Rising LNG Terminal Costs
Rising costs of building and equipping new U.S. liquefied natural gas plants will reduce the competitiveness of U.S. gas exports, LNG analysts at Poten & Partners predicted on Tuesday.The Biden administration's export permitting pause likely will keep global LNG prices higher for longer, and benefit existing exporters, Poten said at its Global LNG Outlook conference.Jason Feer…
Europe Remains Top Destination for US LNG
Europe last month remained the top destination for shipments of U.S. liquefied natural gas (LNG), according to Refinitiv data, outpacing exports to Asia for the second month in a row.About two-thirds of U.S. LNG volumes went to Europe last month, compared to around 61% in December when sky-high European prices and demand drove U.S.
US Offshore Wind Capacity to Reach 20GW by 2030
Installed offshore wind capacity in US waters could reach 20 gigawatts by 2030 and annual investments in the sector could surpass $15 billion by the mid-2020s, according to new research by Rystad Energy.According energy research and business intelligence company, such a trajectory means capital expenditure in US offshore…
US Shale to Peak at 14.5Mbpd in 2030
US shale supply will peak at approximately 14.5 million barrels per day (bpd) around 2030, said the energy research and business intelligence company Rystad Energy.In the past decade, crude oil coming from shale patches such as the Permian in the US has grown from a negligible contributor to an upstream behemoth, reshaping…
US Reduces Upstream Activity Abroad
Rystad Energy data reveals that from 2014 to 2018, companies in Asia which experienced a merger and acquisition showed the most significant growth globally, increasing oil and gas production by about 1.4 million boepd by investing heavily in Asia, Russia and the Middle East.In North America however, the trend is quite the opposite…
Investments in Exploration Drilling to Double
Rystad Energy sees investments both in offshore and onshore exploration drilling doubling in the next five years, compared to the last five years. Conventional onshore demand will be driven by Asia, Africa and South America.Europe on the other hand, will be a hot spot for offshore exploration, led by investments on the Norwegian Continental Shelf…
US Fracking Rate Goes Up
Fracking operations across the US have realized a material uptick in June this year after an essentially flat trend from February to May, when activity was still in recovery mode after a seasonal winter dip.According to Rystad Energy, the June rebound is a welcome signal that positions US fracking to enter the second half…
US Oil Output Heads for More Records in 2019
U.S. total oil production, which is already off to an amazing start in 2019, is on track to set another record for this year.New records are expected both when the final numbers for May emerge and at the end of the year, said Rystad Energy.The energy research and business intelligence company is raising its forecast for US crude output to 13.4 million barrels per day (bpd) by December 2019.
Gulf of Mexico Oil Production Hits Record
Oil production in the US Gulf of Mexico (GoM) is poised to set new records in the imminent future, said Rystad Energy.Royal Dutch Shell started producing oil and gas this month at its Appomattox platform in the deepwater GoM several months ahead of its expected startup in 3Q 2019, the energy research and business intelligence company said.“With earlier than planned production…
Frac Sand Prices to Remain Flat
Demand for sand to be used by the oil and gas industry in hydraulic fracturing operations in the US is set to grow by 10% in 2019 and 17% in 2020, said a report.According to Rystad Energy, frac sand supply, on the other hand, is forecast to increase by 10% in 2019 and then decrease by 2% in 2020 as more Northern White Sand…
North Sea Oil Production May Go Down
On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling, Rystad Energy said."Currently we see unplanned outages at Oseberg and Flotta with combined impact of 160,000 bpd. Furthermore, the North Sea is heading into maintenance season…
U.S. Shale: World’s 2nd Cheapest Source of Supply in Oil
North American tight oil is emerging as the second cheapest source of new oil volumes globally, just shy of the Middle East onshore market, Rystad Energy said.The U.S. shale oil was the world’s second most expensive oil resource just four years ago, the energy research and business intelligence company pointed out.“As the majors are struggling to replace conventional liquids…
65,000 Wells will be Drilled in 2019
Rystad Energy forecasts that the number of onshore and offshore oil and gas wells drilled globally will increase to around 65,000 in 2019.Activity levels are then projected to remain around this level through 2023, the energy research and business intelligence company said.Rystad Energy also forecasts that more than 1 million…
Gas Production Set to Triple in Iraq
Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy."For the world’s fourth largest crude producer, natural gas is about to take pole position," said a statement from the energy research and business intelligence company.New…
LNG Prices Nosedive
A mild winter and growing surplus of supply have knocked the legs out from under Asian LNG, with spot prices plummeting more than 60% since last September, Rystad Energy, energy research and business intelligence company.Similarly, British front month prices (NBP) have dropped from $9.90 per MMBtu in September 2018 to $4.40…
Aus Upstream Capex Touches at US$10bln pa
The Australian renewable energy pipeline is surging above 100GW of solar, wind and utility storage projects. Investment is currently matching upstream capex, at US$10 bn per annum.Only 1GW is currently owned by Upstream companies – the majors, said Rystad Energy, the energy research and business intelligence company.By the end of the decade…
Rystad Expects Oil Price Rally in H1 of 2020
The energy research and business intelligence company Rystad Energy expects that a short-lived price rally through the first half of 2020 as oil prices approach $70 a barrel.It will then lose momentum and be replaced by a need for additional production cuts by Russia and the cartel of oil producing countries, OPEC, the…
E&P Sector Hits Record Free Cash Flow
The world’s publicly listed oil and gas companies are bringing in cash at the best rate ever witnessed even though oil prices have only partially recovered from the huge drop suffered in 2014 and 2015.According to a report by Rystad Energy, energy research and business intelligence company, free cash flow for public exploration…
US Re-fracking Balloons to 550 Wells
The horizontal re-frac market within the US onshore scene has boomed in the recent years, with the number of horizontal re-frac jobs increasing every year over the last 10 years, said a report.According to Rystad Energy, the energy research and business intelligence company, in 2009, fewer than 10 wells were re-fracked…
Large Oil Firms Invest in Shale
Oil majors are readying themselves for the energy transition by investing in shale and waiting for renewable technology to be economical, said Rystad Energy, energy research and business intelligence company.A recent review of 2019 capital budgets reveals that oil majors are the only group to increase shale expenditure…
