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

Can Shale Resist The Lure Of Another Output Surge?
by Irina Slav
20 Jan 2021 at 5:00pm
U.S. shale changed global oil markets. It shook the foundations of OPEC as the one single swing producer group. And last year, it crumbled under the weight of the pandemic that sent oil prices to all-time lows, including a short dip of WTI below zero. Now, shale is getting back on its feet, facing the temptation of production as prices rebound above $50. Wood Mackenzie?s Vice Chair for the Americas, Ed Crooks, called it a siren song in a recent analysis. The shale boom happened because producers were chasing constant growth. It was this chase?

The Biden Boom Is Coming And These Stocks Could Soar
by Mark Beale
20 Jan 2021 at 4:00pm
The world?s first trillionaire will be a green-tech entrepreneur. New York Times veteran tech journalist Kara Swisher boldly declared this a year ago--right before the outbreak of a pandemic that would hasten our transition to clean energy ? and that would exponentially increase the mountains of money piling into stocks that are in any way tied to a cleaner, better future. Governments the world over are pushing a green industrial revolution ? and even giant oil traders are scrambling to pour billions of dollars into renewables?

Biden Plans To Kill Keystone XL Oil Pipeline
by Tsvetana Paraskova
20 Jan 2021 at 3:00pm
U.S. President Joe Biden is rescinding the Presidential permit for the Keystone XL oil pipeline project on his first day in office, raising concerns about Alberta?s oil industry and the potential increased dependence of U.S. Gulf Coast refineries on crude imports from OPEC nations. The day-one executive actions for President Biden include ?Revoking, revising, or replacing additional Executive Orders, Presidential Proclamations, Memoranda, and Permits signed over the past 4 years that do not serve the U.S. national interest, including?

Big Oil Is Buying Into The Solar Boom
by Felicity Bradstock
20 Jan 2021 at 2:00pm
After a difficult year in the oil world, Total is planning to invest in heavily India?s solar sector going into the next decade. The French company plans to invest $2.5 billion for a 20 percent stake in Adani Green Energy Ltd., the world?s largest solar developer. While Total plans to continue investing heavily in fossil fuels, the shift to green energy responds to calls from regulators and governments to plan for a low-carbon future. The investment sees Total strengthen their partnership with Adani, planning for the future?

Oil Prices Steady On Small Inventory Build
by Julianne Geiger
20 Jan 2021 at 1:42pm
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 2.562 million barrels for the week ending January 15. Analysts had predicted an inventory draw of 1.167 million barrels for the week. In the previous week, the API reported a draw in oil inventories of 5.821-million barrels, after analysts had predicted a draw of 2.266 million barrels. Oil prices were mixed on Wednesday ahead of the data release, with WTI up and Brent down. A widespread lockdown in China that has sequestered millions of residents?

Canada Is Cleaning Up Its Oil Sands
by Haley Zaremba
20 Jan 2021 at 1:00pm
Until very recently, nearly any news out of the Canadian oil sands was certain to be a tale of woe. While Alberta?s oil and gas industry didn?t suffer from lack of demand nor lack of supply, a major pipeline shortage left the industry unable to connect the two. This deficit in transportation infrastructure led to a glut in oil supply, which forced Canadian oil companies to sell their oil at a severe discount. All of this has caused the Canadian oil industry to lose tens of billions of profits per year. But the worst was yet to?

Saudi Arabia Remained China?s Top Oil Supplier In 2020
by Tsvetana Paraskova
20 Jan 2021 at 12:00pm
Saudi Arabia narrowly beat Russia to hold onto the title of the single largest oil supplier to the world?s biggest oil importer, China, in 2020, according to Chinese government data. For most of last year, Saudi Arabia?the largest oil exporter in the world?and its key partner in the OPEC+ deal, Russia, were head-to-head in a very close race for the top spot as the biggest crude oil supplier to China. In the end, Saudi Arabia edged past Russia, shipping on average 1.69 million barrels per day (bpd) of oil to China, according?

Western Companies Abandon Russia-Led Nord Stream 2 Project
by Tsvetana Paraskova
20 Jan 2021 at 11:30am
The U.S. imposed on Tuesday sanctions on the Russian pipe-laying vessel that was expected to complete the construction of the gas pipeline Nord Stream 2, while several Western companies are said to have abandoned links to the project for fear of sanctions. The final stretch of the construction of the controversial pipeline now looks even more uncertain, and even Russian gas giant Gazprom has warned investors that the Nord Stream 2 project could be suspended or entirely discontinued due to extraordinary circumstances, including ?political?

U.S. Oil Product Demand Is Set For A Biden Boost In 2021
by OilPrice.com
20 Jan 2021 at 11:00am
After a devastating 2020, Rystad Energy projected demand for oil products in the US to grow by 1.08 million bpd in 2021 to 19.1 million bpd. This projection left politics aside but if President Joe Biden lives up to his promises after his inauguration, we see an upside to US products demand of about 350,000 bpd, as a result of the planned short-term economic stimulus and his infrastructure plan. The expected stimulus package includes financial aid to low-income American families, extended unemployment insurance payments, and billions of dollars?

Saudi Production Cuts Erase Oil Tanker Earnings
by Charles Kennedy
20 Jan 2021 at 10:30am
Reduced availability of seaborne crude oil shipments from the world?s top oil exporter, Saudi Arabia, and a rising number of oil tankers available on the market, have hit the earnings of supertanker owners so much that some are losing money on shipping crude from the Arab Gulf to China, shipbrokers and analysts tell Bloomberg. Saudi Arabia?s surprise announcement earlier this month that it would cut an additional 1 million barrels per day (bpd) from its crude oil production in February and March has reduced the crude shipments in the?

What?s Next For Very Volatile Natural Gas Markets
by Tsvetana Paraskova
20 Jan 2021 at 10:00am
Last week?s record-high spot prices of liquefied natural gas (LNG) in Asia may not hold for long, but the surge could be a sign of what the future holds for natural gas prices globally. The growing LNG trade and the growing importance of LNG on the global gas markets have upended the way part of global gas supply is traded and has made regional gas markets more interconnected. When spot LNG prices rally in north Asia, LNG sellers rush to send cargoes there, leaving fewer LNG supply going to Europe, where natural gas prices rise in a generally?

Israeli Firm Releases EV Battery That Can Charge In 5 Minutes
by Charles Kennedy
20 Jan 2021 at 9:00am
An Israeli firm has announced the first superfast EV battery that can charge in just five minutes. The technology could spark a true EV revolution as it would eliminate one of buyers' biggest concerns?range anxiety. StoreDot noted in a press release that this was the first time extreme fast charging (XFC) batteries were demonstrated as commercially viable for the first time. "The first-generation engineering samples demonstrate to EV OEMs and battery manufacturers the successful replacement of graphite in the cell's anode using metalloid?

SpaceX To Repurpose Oil Rigs For Launch Pads
by Irina Slav
20 Jan 2021 at 8:30am
SpaceX plans to use two deepwater oil rigs as offshore floating spaceports that the company will likely use for the Starship rockets it is developing. CNBC's Michael Sheetz reports, citing public documents, that now-bankrupt offshore rig operator Valaris sold two rigs, 8500 and 8501, for $3.5 million each. The deal was completed in July last year, and Valaris?the world's largest offshore drilling rig operator?filed for Chapter 11 bankruptcy protection soon after. The buyer of the rigs, according to the CNBC report, was a limited liability?

Biden To Kill Keystone XL Pipeline, Rejoin Paris Agreement
by Tsvetana Paraskova
20 Jan 2021 at 8:00am
On his first day in office on Wednesday, incoming U.S. President Joe Biden will sign executive orders to reverse decisions of the previous administration and will rejoin the Paris Agreement, revoke a Presidential permit for the Keystone XL pipeline, and issue a temporary moratorium on all oil and natural gas leasing activities in the Arctic National Wildlife Refuge in Alaska. Biden?s Day One Executive Actions will include an executive order under which the United States will rejoin the Paris Agreement. The instrument Biden will sign will?

India Unhappy With OPEC+ Oil Production Cuts
by Irina Slav
20 Jan 2021 at 7:30am
India, one of the world?s top oil consumers, has slammed OPEC for creating confusion with its latest decisions regarding oil supply, with many importers seeing their expectations of higher volumes disappointed. In December, OPEC+ had agreed to start raising oil production by half a million barrels daily from this month. However, at the January meeting, the partners decided to roll over the current production level instead of adding another half a million bpd in February. This coincided with Saudi Arabia?s unilateral decision to cut?

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