Following the lead of BP, Shell announced on Monday that it will take a big write-down of its oil and gas assets against its 2nd quarter earnings.
What You Should Know About Oil and Gas Today The Big Story Following the lead of BP, Shell announced on Monday that it will take a big write-down of its oil and gas assets against its 2nd quarter earnings. Also like BP, Shell said this write-down was a part of the...
Nuclear Power and Natural Gas not to be Funded by EU
This past Wednesday, June 24, the countries of the EU decided the bloc’s flagship fund would not be used to finance nuclear and natural gas. The European Commission, the EU’s executive arm, wants to set up a 40 billion euro Just Transition Fund. With the recent agreement, the fund...
Chesapeake Energy announced on Sunday that it would seek protection under Chapter 11 of the bankruptcy code. It recently skipped a $15 million debt payment.
What You Should Know in Oil and Gas Today The Big Story Chesapeake Energy announced on Sunday that it would seek protection under Chapter 11 of the U.S. bankruptcy code. The company had been the subject of rampant rumors in the industry and media over the past years, as it has...
Plastic Waste in our Oceans: A Problem that Won’t Float Away
The beach is a place for fun and relaxation. Watching the waves is a mesmerizing pass time. The next time you are there, you may wish to keep these facts in mind about plastic waste: There are 5.25 trillion pieces of plastic waste estimated to be in our oceans. ...
Shell Energy: Adapting to a Different Future
Royal Dutch Shell Ceo Ben van Beurden announced a strategic review of the company. This comes, he says, as a result of the economic crisis caused by the corona virus pandemic. He believes the pandemic is accelerating the world’s transition towards greener energy. As a result of the review,...
The U.S. Energy Information Administration’s (EIA) Weekly Petroleum Report shows stocks for crude and refined products still rising in the U.S.
What You Should Know About Oil and Gas Today The State of Play The U.S. Energy Information Administration's (EIA) Weekly Petroleum Report shows stocks for crude and refined products still rising in the U.S. Crude storage was up by 1.4 million barrels for the week ended June 19, with refined product...
The number of active frac spreads continues to steadily rise. After reaching a bottom of 45 in early May, the Primary Vision count now stands at 78.
What You Should Know About Oil and Gas Today The State of Play The number of active frac spreads in the U.S. continues to steadily rise. After reaching a bottom of 45 in early May, the Primary Vision count now stands at 78. While that is still off by 76% from...
Obviously, the big story this morning is that the price for West Texas Intermediate rose over the $41 per barrel level overnight on continuing positive economic news
What You Should Know About Oil and Gas Today The Big Story Obviously, the big story this morning is that the price for West Texas Intermediate rose over the $41 per barrel level overnight on continuing positive economic news and remained at that level in early morning trading. With rig counts...
Recovery Helped by China’s Oil Imports, But How Long?
In April, China’s oil demand was 90% of their pre-COVID levels. Their crude oil imports jumped to a record high in May. Now, Bloomberg reports as many as 200 oil tankers are expected to arrive in Chinese ports this month. Already, there is a congestion problem with storage capacity...
Deloitte has a major new report out today full of interesting data. It concludes the shale business peaked in 2019 without turning a profit in total.
What You Should Know About Oil and Gas Today The Big Story  Deloitte has a major new report out today detailing the current state of the U.S. shale industry. Chock full of interesting data, the study concludes that the overall shale business peaked in 2019 without turning a profit in total....
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