Friday, June 7, 2019
Energy, Petrochemicals and Plastics 20
1 Global gas demand to grow at 1.6% per year until 2024: IEA
https://www.reuters.com/article/us-gas-iea-idUSKCN1T80JN
Global gas demand is expected to grow at a rate of 1.6% a year until 2024, fueled by Chinese consumption which will account for over a third of the demand growth during the period, the International Energy Agency said on Friday.
2 Quartet forms Northern Sea Route LNG transportation partnership
https://www.lngworldnews.com/quartet-forms-northern-sea-route-lng-transportation-partnership/
Russia’s Novatek, China COSCO Shipping Corporation, Sovcomflot and Silk Road Fund have signed an agreement regarding the Maritime Arctic Transport (MArT) joint venture.
3 China’s Demand For Gas “Almost Infinite”
https://ca.finance.yahoo.com/commodities/
Last year, the buzz term in the natural gas world was the alarmist cry of “stranded assets”, with headlines shouting that overproduction of shale oil and gas in North America would leave markets oversaturated with product and infrastructure soon to become obsolete thanks to the rise of more affordable wind and solar. Since then, there have been just as many think pieces and reports tempering the stranded asset panic with assurances that natural gas is here to stay.
4 US promotes ‘freedom gas’ but prices, not politicians, drive LNG flows
https://blogs.platts.com/2019/06/05/us-freedom-gas-prices-lng-flows/
The US is describing its growing LNG exports as “freedom gas”, giving America’s allies “a diverse and affordable” clean energy source, but prices, not politicians, will decide where that LNG flows.
5 Oil Just Had Its Worst Run Since 2008
https://oilprice.com/Energy/Oil-Prices/Oil-Just-Had-Its-Worst-Run-Since-2008.html
Oil has entered a bear market as fears of an economic downturn mount. The fundamentals look much tighter than the swoon might suggest, but the supply and demand picture is also beginning to look more negative.
6 Oil rises as Saudi Arabia signals OPEC deal extension
https://www.reuters.com/article/us-global-oil-idUSKCN1T801T
Oil prices rose on Friday, climbing further from five-month lows hit this week amid signs that OPEC and other producers could extend their output reduction deal.
7 U.S. Targets Venezuelan Oil Blending With Latest Restrictions
https://ca.finance.yahoo.com/commodities/
The U.S. is stepping up efforts to cripple Venezuela’s oil industry, this time by targeting the petrochemicals the country’s state-owned oil company needs to keep its crude exports flowing.
8 Oil Industry Banks On Shaky Plastic Bet
https://oilprice.com/Energy/Crude-Oil/Oil-Industry-Banks-On-Shaky-Plastic-Bet.html
Even as oil demand is beginning to weaken this year due to a brewing economic slowdown, the oil industry faces a longer-term threat to oil demand as bans on plastic begin to multiply.
9 Oil giants bet their futures on plastic — just in time for a plastic-trash crackdown
https://www.latimes.com/business/la-fi-oil-plastic-petroleum-environment-20190606-story.html
As the world strives to wean itself off fossil fuels, oil companies have been turning to plastic as the key to their future. Now that’s looking overly optimistic.
10 Oil Sands Production To Hit 4 Million Bpd By 2030
https://oilprice.com/Energy/Crude-Oil/Oil-Sands-Production-To-Hit-4-Million-Bpd-By-2030.html
Crude oil production from Canada’s oil sands could rise by a million barrels from today’s average daily rate to as much as 4 million bpd in 2030 despite a slowdown in the annual growth rate, IHS Markit has forecast.
11 As Permian oil production turns lighter, price outlook darkens
https://www.reuters.com/article/us-usa-oil-permian-idUSKCN1T71B7
The United States may now be the world’s biggest crude producer, but the oil being produced in its prolific Permian basin is increasingly too light in density for domestic refiners or for exports, eroding prices for these orphan barrels.
12 EIA tool compares individual power plants’ generation, cooling water use, and emissions
Today in Energy
https://www.eia.gov/todayinenergy/detail.php?id=39732
EIA’s electric power sector surveys collect plant-level information on several attributes of U.S. power plants, including cooling water use and emissions data.
13 LyondellBasell, Braskem end merger talks
https://www.chron.com/business/energy/article/LyondellBasell-Braskem-end-merger-talks-13933334.php
After nearly a year of talks and significant delay, petrochemical makers LyondellBasell and Braskem have mutually ended talks over a potential merger.
14 Latest setback to Enbridge’s Line 3 pipeline is more bad news for oilfield workers, industry warns
https://www.cbc.ca/news/canada/calgary/minnesota-rejects-enbridge-line-3-1.5160404
A court ruling in Minnesota that could further delay Enbridge Inc.’s Line 3 oil pipeline replacement project spells more bad news for Canadian oilfield workers, says the CEO of the Petroleum Services Association of Canada.
