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All the latest in Oil, Gas, Commodity news and analysis

North American Oil And Gas Bankruptcy Debt Has Hit An All-Time High
by OilPrice.com
25 Oct 2020 at 12:00pm
The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high and is set to grow even further this year as the wave of Chapter 11 filings continues, a Rystad Energy report projects, analyzing industry data from law firm Haynes and Boone. Although the combined count of Chapter 11 filings from exploration and production firms (E&Ps) and oilfield service (OFS) companies this year in North America has so far reached 84, which is still lower than the historical high of 142 in 2016, the associated debt?

Tesla Sets Its Sights On India
by Haley Zaremba
25 Oct 2020 at 8:00am
India has some major plans in store for developing the traffic- and smog-choked subcontinent?s electric vehicles market. Just last week, India?s Department of Heavy Industries released an expression of interest (EoI) invitation to the private sector ?to set up electric vehicle charging stations on major existing and upcoming expressways and highways running across the length and breadth of the country? according to reporting this week by Money Control. This is part of the country?s ultra-ambitious plan to establish?

2021 Could Be A Much Better Year For Canadian Oil
by Haley Zaremba
24 Oct 2020 at 4:00pm
It?s been a really tough year for oil nations around the globe, but nearly no one has had it worse than poor Canada. On that infamous day, April 20th, when oil prices plunged below zero in a historic bottoming-out thanks to an oil glut, OPEC+ price war, and absolutely demolished demand due to the pandemic, Canadian oil prices actually dipped into the negatives hours before the West Texas Intermediate crude benchmark followed suit. Even before Black April, as some have started to call it, Canadian oil had hit a rough patch. Years of?

The U.S. Has A Major EV Problem
by Tsvetana Paraskova
24 Oct 2020 at 2:00pm
Even a battery with a million-mile lifespan can?t overcome one of the key hurdles to mass adoption of electric vehicles (EVs) in the United States and elsewhere?the insufficient public charging infrastructure. The EV revolution is not only about car performance, choice availability, or price parity with internal combustion engine (ICE) vehicles. It also hinges on easy access to charging infrastructure to allay customer fears that they could be left stranded without battery power and without a charging point nearby. EV infrastructure?

Nuclear Energy Granted A State-Sponsored Lifeline In The U.S.
by Haley Zaremba
24 Oct 2020 at 12:00pm
For the past several decades, the United States has been the poster child for the ailing state of the nuclear industry. The nuclear sector in the U.S. is plagued by aging infrastructure, mounting debts, dependence on government handouts, and the staggering cost of maintaining spent nuclear fuel. What?s more, it?s had to compete with the homegrown shale revolution, and expensive nuclear is simply no match for the tidal wave of cheap shale oil and gas that came flooding out of the West Texas Permian Basin. The United States has?

More Libyan Oil Set To Return To Market As Factions Sign Ceasefire
by Tsvetana Paraskova
23 Oct 2020 at 2:30pm
Warring factions in Libya signed a countrywide ceasefire on Friday brokered by the United Nations. The ceasefire is poised to lead to more Libyan oil supply to the market at a time when demand is weak, and OPEC+ prepares to ease production cuts as of January. The UN-led mediation by the 5+5 Joint Military Commission, representing the UN-recognized Government in Tripoli and the self-styled Libyan National Army (LNA) of General Khalifa Haftar, agreed to a ceasefire, which UN Acting Special Representative, Stephanie Williams, said could help secure?

Argentina To Subsidize Shale Gas Production With $5.1 Billion
by Charles Kennedy
23 Oct 2020 at 1:30pm
Argentina will give subsidies of a total of US$5.1 billion to shale gas drillers in an attempt to revive production in its Vaca Muerta shale play and attract as much as US$5 billion in investments, Energy Secretary Dario Martinez said this week. The four-year subsidy program will cost Argentina US$1.5 billion in 2021, but it will still be better than paying to import liquefied natural gas (LNG), even if LNG prices have dropped, Martinez said, as carried by Bloomberg. Shale drillers who bid in an auction in November can get a maximum of $3.70?

France Delays U.S. LNG Deal On Environmental Concerns
by Tsvetana Paraskova
23 Oct 2020 at 12:30pm
France?s government has asked local power group Engie, in which it holds more than 20 percent, to delay the signing of a 20-year deal worth US$7-billion to buy liquefied natural gas (LNG) from a planned export project in Texas due to concerns over gas production emissions, Politico reported, quoting sources with knowledge of the issue. Engie was preparing to sign the multi-billion offtake deal with NextDecade Corporation, which is developing the Rio Grande LNG project in Texas. Rio Grande LNG, whose final investment decision is expected in?

Oil Prices Slip Again As COVID Cases Surge
by Tom Kool
23 Oct 2020 at 12:00pm
COVID cases are now surging around the globe, threatening oil demand and sending oil prices back below $40.For Global Energy Alert members there are now two new free reports available in your dashboard. The first of these reports is on how to interpret stock charts and the second outlines the three biggest mistakes made by traders today. Make sure you become a member to read these reports and many more.Friday, October 23rd, 2020On Thursday, the U.S. reported more than 70,000 COVID cases for the first time in three months, and the trajectory suggests?

U.S. And Canadian Oil Rig Counts Continue To Rebound
by Julianne Geiger
23 Oct 2020 at 10:14am
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 6 to 211. The total number of active oil and gas rigs increased for the week by 5, with oil rigs rising by 6 and gas rigs falling by 1. Total oil and gas rigs in the United States are now down by 564 compared to this time last year. The EIA?s estimate for oil production in the United States fell sharply for the second week in a row for the week ending October 16?the last week for which there is data, to 9.9 million barrels of oil per day. U.S. oil?

Soaring Number Of COVID Cases Caps Oil Prices
by Editorial Dept
23 Oct 2020 at 9:30am
U.S. West Texas Intermediate crude oil futures are trading nearly flat on Friday while heading for their first weekly losses in three. The market is feeling pressure from both the demand and supply sides, led respectively by surging coronavirus cases in the United States and Europe, and Libyan output increases. COVID-19 Update ? Euro Zone Business Activity Shrinks Several U.S. states reported record daily increases in infections on Thursday, raising concerns about future fuel demand, while France extended curfews for about two-thirds of its?

The Consolidation Of U.S. Shale
by Editorial Dept
23 Oct 2020 at 9:30am
1. Demand stalls on COVID resurgence - ?We think that the oil market would mount a significant rally if the flow of global demand data was strong,? Standard Chartered wrote in a note. ?However, there is no fuel for any such rally currently; demand recovery has disappointed, and in some regions prospects are worsening.? - The investment bank estimates that global oil demand in August stood at 90.39 mb/d, down 592,000 bpd from a month earlier. Demand was down 11.58 mb/d year-on-year, worse than July?s figure of down?

Why ISIS Is Calling For Attacks On Saudi Arabia
by Editorial Dept
23 Oct 2020 at 9:30am
Politics, Geopolitics & Conflict - ISIS is calling on its supporters to attack Westerners and oil pipelines and economic infrastructure in Saudi Arabia, based on a recorded message carried by the media but otherwise not confirmed as authentic. In the message, alleged ISIS spokesman Abu Hamza Al-Muhajir urges the targeting of Westerners in Saudi Arabia and attacks against the Kingdom?s economic infrastructure because of its support for the normalization of relations between Gulf countries and Israel. This is an attempt by forces (likely?

How Hydrogen Will Reshape Global Power Dynamics
by Editorial Dept
23 Oct 2020 at 9:30am
Peace in the Middle East may be fostered by natural gas, beginning with Israel's new-found energy leverage, but that peace will simply be shifted to a war of different alliances on the Eastern Mediterranean exploration and development front? But if natural gas promises to upset the global balance of power, the widespread race to secure hydrogen as the real bridge to a renewable energy future promises a geopolitical shakeup of far greater significance. Many of the ?haves? and ?have nots? will be the same, as?

Oil Blockades Cost Libya $130 Billion, Finance Minister Says
by Tsvetana Paraskova
23 Oct 2020 at 9:30am
The frequent oil blockades in Libya over the past few years have cost the country a total of US$130 billion in lost revenues, Finance Minister Faraj Boumtari told Al-Jazeera on Thursday. Libya?s oil industry has been plagued by on-and-off blockades as rival factions have been fighting for control over areas in Libya and its oil terminals and ports since the toppling of Muammar Gaddafi in 2011. The most recent blockade in Libya, between January and the middle of September, has cost Libya almost US$10 billion, the National Oil Corporation (NOC)?

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