(Tue, 10 Nov 2015) Canada is one of the world's five largest energy producers and is the principal source of U.S. energy imports. The country is a net exporter of most energy commodities and a significant producer of crude oil and other liquids from oil sands, natural gas, and hydroelectricity. Energy exports to the United States account for the vast majority of Canada's total energy exports.
(Tue, 10 Nov 2015) EIA forecasts that Brent crude oil prices will average $54/b in 2015 and $56/b in 2016. The 2015 forecast price is unchanged from last month's STEO, and the 2016 forecast price is $2/b lower. Forecast West Texas Intermediate (WTI) crude oil prices average $4/b lower than the Brent price in 2015 and $5/b lower in 2016. The current values of futures and options contracts for February 2016 delivery (Market Prices and Uncertainty Report) suggest the market expects WTI prices to range from $35/b to $66/b (at the 95% confidence interval) in February 2016.
(Tue, 10 Nov 2015) Crude oil prices remained within the range established over the previous three months. The North Sea Brent front month futures price settled at $47.98 per barrel (b) on November 5, an increase of 29 cents/b since October 1. The West Texas Intermediate (WTI) front month futures price settled at $45.20/b on November 5, rising by 46 cents/b over the same time.
Indonesia’s continuing attempts to sort out fuel subsidies and how to best reform various parts of the energy industry is now having an effect on upstream business.
(Mon, 09 Nov 2015) A new type of renewable diesel fuel is meeting the growing demand for renewable biofuels, which is driven by biofuel mandates and customer demands for higher quality. Unlike other biofuels, hydroprocessed esters and fatty acids (HEFA) fuels are nearly indistinguishable from their petroleum counterparts. Worldwide, more than a billion gallons of HEFA fuels were produced in 2014.
(Mon, 09 Nov 2015) EIA?s monthly Drilling Productivity Report (DPR) has been released. The DPR takes a fresh look at oil and natural gas production, starting with an assessment of how and where drilling for hydrocarbons is taking place. It uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells to provide estimated changes in oil and natural gas production for seven key fields.
In Mexico City, the word "reform" is loaded. Platts' Jeff Bair looks at the potential for foreign investment, imports to meet increasing demand, and pricing challenges to be met.
(Fri, 06 Nov 2015) Working natural gas in storage reached 3,929 billion cubic feet (Bcf) as of October 30, according to EIA's latest Weekly Natural Gas Storage Report. This level matches the previous weekly record of 3,929 Bcf set November 2, 2012. Although October marks the traditional end of the injection season, inventory increases commonly continue into the first weeks of November. Largely depending on the weather, inventories could surpass 4 trillion cubic feet in the coming weeks.
