Author: RittaFarr
Stoned on an Oil Rig: Legal Weed Puts Canadian Companies on Edge
(Originally on Bloomberg) — Once recreational marijuana becomes legal in Canada, Garnet Amundson says it will get a lot harder to find the workers he needs at Essential Energy Services Ltd. And he isn’t the only employer who’s worried. Essential Energy provides services to oil and natural-gas drillers across Canada, and its employees handle volatile chemicals, operate heavy equipment and work...
Trump’s gas tax hike tests whether the federal fuel levy is still a third rail in politics
President Donald Trump signaled Wednesday that he’s open to raising the federal gasoline tax to pay for infrastructure spending, but hiking the fuel levy for the first time in about 25 years faces significant hurdles on Capitol Hill. The issue has long been a dicey one in tax policy. Increasing the price of gas at the pump is seen as having a disproportionate effect on middle- ...
The Oil And Gas Situation: Volatility Returns, As The Market Overreacts
After a 7-month period of remarkably low volatility in the global crude oil markets, the last two weeks have seen a return of turbulence. The sudden correction that has hit stock markets around the world has in turn diminished stability where crude is concerned. A 10 percent drop in the Dow Jones Industrial average was met by a 10 percent drop in the price for WTI, as a strengthe...
China Oil Imports Hit Another Record In January
Crude oil imports to China hit another record last month, reaching 9.57 million barrels daily, for a total of 40.64 million tons, customs data showed. This is 400,000 bpd more than the previous record from March last year. Natural gas imports also continued to rise, hitting 7.7 million tons – the second-highest monthly import rate on record. The increase in oil imports was driven by...
U.S. To Become Net Oil And Gas Exporter In 5 Years | OilPrice.com
The United States will become a net oil and gas exporter by 2022, the Energy Information Administration (EIA) said in this year’s edition of its Annual Energy Outlook. Slower domestic demand, along with growth in natural gas, oil, and oil product production will drive the transformation, the EIA said. That sounds like President Trump’s dream of energy dominance come true, but of course, ...
Big Oil takes stage for post-austerity beauty contest
With years of austerity in their rear-view mirrors, the world’s biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil, the biggest publicly traded oil company, has largely disappointed with a weaker...
Why Canada is the next frontier for shale oil
The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oil sands. Now Canada is looking to its own shale fields to repair the economic damage. Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations, which they say co...
US Oilfield Service Firms Dust Off IPO Plans As Oil Prices Surge
U.S. oilfield service companies are gearing up for IPOs, according to regulatory filings and analysts, after several shelved equity sales last year during a weak period for oil prices. Oil is trading near its highest level since early 2015, fueling demand for service firms to bring new shale wells to production. Energy executives surveyed last month said they would increase drilling sharply at pri...
There aren’t enough truckers in Texas to increase domestic oil production
Oil growth may be limited by a shortage of truck drivers to transport the increasing volumes of oil to pipelines and storage hubs. U.S. crude oil production is flirting with record highs heading into the new year, thanks to the technological nimbleness of shale oil drillers . The current abundance has erased memories of 1973 gas lines, which raised pump prices dramatically, traumatizing the United...
Northern Oil and Gas (NOG) Jumps: Stock Rises 9.4%
Northern Oil and Gas, Inc.NOG was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume. Read Full Article Here: http://www.nasdaq.com/article/northern-oil-and-gas-nog-jumps-stock-rises-94-cm899035
Hard work in 2018 for oil and gas business, balancing costs with price
Oil inventories are dropping, federal regulations are dissipating, and OPEC members are committed to limiting production. The year ahead holds immense promise for oil companies. Oil field services are getting expensive, labor is in short supply, and higher prices could limit demand growth. Exploration and production companies will struggle to compete in 2018. The energy business is finally getting...
Oil and gas supply disruptions ripple around the world
CALL it the hydrocarbon equivalent of the butterfly effect. As oil and gas supplies tighten during the northern winter, disruptions as remote as a hairline fracture on a piece of Scottish pipeline, and an explosion in an Austrian natural-gas plant, have repercussions felt around the world. Start with the pipeline. After Ineos, a chemicals company, detected a growing crack on a piece of pipe near A...