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Increasing domestic production of crude oil reduces net petroleum imports

by charlie on April 30, 2015

This weekly news column is for the growing number of private investors wishing to keep their finger on the pulse of the ever changing energy business, and is provided as a free informational service.

Industry News

Baker Hughes expects falling rig count to continue to weigh in Q2
Baker Hughes Inc, which is being bought by Halliburton Co for $35 billion, said it expects “unfavorable market conditions” to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services more

It’s a new world taking shape in the energy Industry, Rex Tillerson, Exxon Mobil CEO tells a crowd at the IHS CERA week in Houston
And while the full picture of this new paradigm has yet to take shape, it’s clear that the industry needs to come together with the public and policy makers to pioneer these opportunities in a way that will erase the old lines between the conventional and the unconventional. continue

CERAWeek: Oil tool makers say upstream discounts unlikely to climb high
Though the industry expects operational and construction costs for oil-production projects to fall up to 40 percent this year, prices for tools and services probably won’t crumple that much, a panel of energy experts said Tuesday. more

Company News

Encana could be ready to sell $1Billion Haynesville assets
Encana Corporation is reportedly seeking buyers for shale gas assets in the Haynesville shale basin in Louisiana, as the company focuses on oil and liquid production in Texas and Canada. more

Market News

Increasing domestic production of crude oil reduces net petroleum imports
In its recently released Annual Energy Outlook 2015 (AEO2015) Reference case, EIA expects U.S. crude oil production to rise through 2020 as oil prices recover from their steep decline, reducing net petroleum (crude oil and petroleum products) imports. AEO 2015 explores the effects of domestic crude oil production under various assumptions about world oil prices and domestic resource availability. read article

Downstream News

We are all well aware of the ever increasing threat of cyber attacks, and the Oil and Gas sector is no different. To help combat these threats Honeywell Process Solutions (HPS) has launched the first digital dashboard designed to proactively monitor, measure and manage cyber security risk for control systems for refineries, power plants and other automated production sites throughout the world that are at increasing risk of cyber attacks. read more

All data and information provided on this site is for informational purposes only. and its Newsletter makes no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.This is a personal publication; the opinions expressed here represent my own and not those of my employer.

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