In The News

Tuesday, 11/21/2023

November 21, 2023 – Energy Intelligence Oil Daily

Panama Canal Disruptions Appear Likely to Intensify

Drought conditions at the Panama Canal are roiling flows of gas liquids, tightening tanker availability and could eat into robust US exports, market players and experts say.

And the situation will likely get worse before it gets better.

The Panama Canal Authority (PCA) has repeatedly slashed the number of vessels that can traverse the canal, with only 24 ships allowed as of Nov. 12. That figure will drop to 22 in December and just 18 in...

Tuesday, 11/14/2023

November 14, 2023 – Daily Caller

Oil Refinery Skirting Sanctions To Supply The Pentagon With Banned Russian Petroleum

By Micaela Burrow

The Pentagon is buying petroleum products originally sourced from Russia despite a complete ban on Russian oil the Biden administration rolled out in 2022 meant to cripple the Moscow war machine, according to investigations.

A longtime Department of Defense (DOD) supplier in Greece, to comply with the sanctions imposed in response to Russia’s invasion of Ukraine, told investors it had developed new...

Monday, 11/06/2023

November 6, 2023 – Reuters

Canada's Crescent Point to buy Montney shale firm Hammerhead for $1.86 bln

By Sourasis Bose and Nia Williams

Crescent Point also bought Spartan Delta's Montney assets earlier this year in a C$1.2 billion deal.

The 50,000 square-mile (32 million acre) area spanning northern Alberta and British Columbia is considered Canada's top shale play and also garnering interest potential U.S. investors, dealmakers said last week.

"This is another sign of the attractiveness of the entire resource in the Montney," said...

Sunday, 10/22/2023

October 22, 2023 – Business Insider India

Here's why gasoline prices could sink 9% by year-end despite oil's surge

By Filip De Mott

... Refinery issues are another factor. According to Robert Auers of RBN Energy, higher gasoline prices in the second quarter prompted refineries to overproduce, leading to an oversupply.

"Refiners everywhere went into max-gasoline mode, essentially, because that's what the market was telling them to do," he told Insider.

The narrative of a gas shortage even prompted speculators to...

Wednesday, 10/18/2023

October 18, 2023 – OilPrice

The Next Phase Of The U.S. Shale Revolution

By David Messler

One of the key problems inherent in this effort has been the shift producers have made in reallocating cash flow from new drilling to shareholder returns. These returns have been very popular with investors but have come at a price for reserves replacement even as Finding and Development-F&D costs for a broad cohort of shale E&Ps, have declined as the blue bars in the RBN Energy graph reveal. The sharp bump higher in RR from 2020-...