Saudi Oil Giant Aramco has signed an agreement Saudi Oil Giant Aramco has signed an agreement to buy U.S. liquefied natural gas from San Diego-based utility Sempra Energy. The agreement would see Aramco buy 5 million tons of liquefied natural gas per year. From Sempra’s Port Arthur, Texas export terminal. This would be Aramco’s first […]
U.S. Oil Slips U.S. Oil Slips – U.S. prices settled lower Tuesday as U.S.-China trade woes weighed on energy-demand prospects. However, Middle East tensions provided some support for the global benchmark. “The U.S.-China trade war…has already surprised markets by intensifying further than anyone initially expected, and because of that, near term risks are to the […]
ExxonMobil evacuated about 30 foreign engineers from Basra, Iraq. This is as a “temporary precautionary measure,” the government-owned Basra Oil Company said Saturday. The staff members evacuated to Dubai and there are “no indicators that companies operating the oil fields are facing any security threats,” the Basra Oil Company said. “ExxonMobil has programs and measures […]
The Bakken formation centered on western North Dakota already heading to Asian and European markets. The future for North American shale and onshore production is bright. This is for at least the next two decades, appears promising. There’s more to their petroleum industry. Approximately $580 billion per year—more than $12 trillion in total—is a requirement. […]
The oil market has already been tightened due to ongoing OPEC plus supply cuts. There is a production decline from Iran and Venezuela, and a Russian outage due to the Urals contamination. Is there an ongoing Trade War? Heightened tensions in the Middle East are keeping oil prices firm. The US WTI crude and the […]
Natural gas prices whipsawed initially moving lower and then rebounding and settling the session up slightly more than 1%. This came on the heels of the Department of Energy’s inventory report which basically came out in line with expectations. Let’s read more about natural gas price prediction below. The trajectory of the gains continues to […]
Focus on Permian production would generate $64 billion in net economic benefits. The scope of benefits is for the state and local communities for the next 40 years. These are the findings from the study by Impact Data Source. The study said the state government would receive $44 billion from new leases and royalties. To […]
A Massive Growth The Permian Basin has become a massive growth engine for the U.S. oil industry over the last few years. The driving force has been the discovery of new techniques that have unlocked the treasure trove of oil and gas trapped in the region’s tight underground rock formations. That has unleashed a wave […]
May 14 (Reuters) – U.S. energy company Sempra Energy said on Tuesday the first liquefaction train at its $10 billion Cameron LNG (Liquified Natural Gas) export terminal in Louisiana started producing LNG. Cameron is the fourth big LNG export facility to enter service in the Lower 48 U.S. state. It is keeping the United States […]
Obviously, there’s a lot more than just three, but let me hit on the triad of pillars. Let’s learn more about the U.S Oil and Natural gas Industry here. Producing at All-Time Record Over this time, U.S. crude oil production has surged 140% to 12.2 million b/d, while gas output is up 55% to 88 […]
