Oil Moves Higher On Largest Crude Draw Since January
Oil Moves Higher On Largest Crude Draw Since January
Oil prices moved higher after the Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 30.

In fuels, the inventory moves were mixed.
2021/05/06 18:53
Three Things That Will Drive Oil Prices In May
Three Things That Will Drive Oil Prices In May
The Energy Sector (NYSEARCA:XLE) has taken the lead in the S&P midday sector standings on Wednesday trading, jumping 3.5% as OPEC + appears ready to stick with earlier plans to slightly increase oil production from May 1. The OPEC technical committee has issued a bullish oil demand forecast, although a hawkish tone by the Fed could derail the recent oil price gains.

Meanwhile, the Federal Open Market Committee (FOMC) meeting is scheduled to take place on 27-28 April 2021, with the committee set to announce any changes to its monetary policy immediately after.
2021/04/29 11:28
The restart of the Damietta is another major achievement for Egypt which intends to become an energy hub and exporter. There are also plans to transport Cypriot feed gas from its offshore fields through subsea pipelines to the two Egyptian liquefaction plants. Furthermore, several bids were announced to expand exploration activities in the Mediterranean, Red Sea, and the Western Desert to further increase the country’s domestic production capacity.
Egypt Restarts Major LNG Project On Rising Demand
Egypt Restarts Major LNG Project On Rising Demand.EU Admits It Can't Go Net-Zero Without Natural Gas.Egyptian Dolphinus Holding and Israeli Delek Drilling struck a landmark agreement and started importing additional gas from Israel's Leviathan and Tamar offshore fields in 2020.
2021/04/28 18:46
The Joint Technical Committee of OPEC+ is concerned about the growing case numbers in India, Japan, and Brazil
OPEC+ Concerned About India’s Oil Demand
The Joint Technical Committee of OPEC+ is concerned about the growing case numbers in India, Japan, and Brazil, Reuters sources said on Monday.
2021/04/27 09:01
When it comes to the final frontier for big oil discoveries, it’s not the Guyana-Suriname basin where supergiants like ExxonMobil (NYSE:XOM), Hess Corp. (NYSE:HES), and CNOOC (NYSE:CNOOC) have already staked their claims. And it’s not the American shale patch, where production has hit reverse gear with no end in sight. It’s Africa, where even small-cap companies are staking outsized claims of the kind that generously reward investors with a bigger risk appetite.
Energy Transition Could Doom Africa’s Oil Producers
When it comes to the final frontier for big oil discoveries, it’s not the Guyana-Suriname basin where supergiants like ExxonMobil (NYSE:XOM), Hess Corp. (NYSE:HES), and CNOOC (NYSE:CNOOC) have already staked their claims. And it’s not the American shale patch, where production has hit reverse gear with no end in sight. It’s Africa, where even small-cap companies are staking outsized claims of the kind that generously reward investors with a bigger risk appetite.
2021/04/26 08:32
The U.S. renewable diesel market is hot—so hot, in fact, that one of the feedstocks for the highly profitable renewable fuel is running low, according to Valero.
Refiner Valero: U.S. Renewable Diesel Stocks Are Running Low
The U.S. renewable diesel market is hot—so hot, in fact, that one of the feedstocks for the highly profitable renewable fuel is running low, according to Valero.
2021/04/25 14:02
Venezuela's PDVSA is using more of its domestic output of medium and light crude oil grades for refining, reducing their availability as diluents for its heavy export grades, Reuters has reported, citing sources familiar with the matter.
Venezuela Ups Domestic Oil Refining, Hurting Crude Exports
Venezuela's PDVSA is using more of its domestic output of medium and light crude oil grades for refining, reducing their availability as diluents for its heavy export grades, Reuters has reported, citing sources familiar with the matter.

The increase in local refining has been prompted by fuel supply shortages that have led to rationing, queues, and additional disgruntlement among the Venezuelan population.
2021/04/24 08:26
Businesses in Nigeria are losing each year around US$29billion because of the unreliable power supply
Africa’s Largest Oil Producer Loses $29B Per Year On Power Outages
Businesses in Nigeria are losing each year around US$29 billion because of the unreliable power supply, the World Bank said in an estimate about the OPEC country, which is the largest oil producer in Africa.
2021/04/23 08:28
Gunmen abducted early on Wednesday three employees of India’s Oil and Natural Gas Corporation (ONGC) on a rig site in northeast India, the country’s biggest oil and gas production firm
Gunmen Abduct Oil Workers In Northeast India
Gunmen abducted early on Wednesday three employees of India’s Oil and Natural Gas Corporation (ONGC) on a rig site in northeast India, the country’s biggest oil and gas production firm said in what could be a setback for the Indian efforts to reduce its reliance on crude oil imports.The abduction took place on a rig site of ONGC in the Lakwa field in the state of Assam, which is one of the three largest oil-producing states in India.
2021/04/22 08:52
The Arab Gulf countries announced as much as US$10 billion worth of new projects in the oil and gas sector during the first quarter of 2021, out of the total US$32.3 billion projects in all sectors, a new report showed this week.
Arab Gulf Countries Announced $10 Billion In New Oil And Gas Projects In Q1
The Arab Gulf countries announced as much as US$10 billion worth of new projects in the oil and gas sector during the first quarter of 2021, out of the total US$32.3 billion projects in all sectors, a new report showed this week.
2021/04/21 08:24
The disputed South China Sea may soon see an escalation in tensions over oil drilling rights between China and the Phillippines
Philippines Ready To Claim Oil Resources With Military
The disputed South China Sea may soon see an escalation in tensions over oil drilling rights between China and the Phillippines, according to Phillippine President Rodrigo Duterte who spoke to the public late on Monday.
2021/04/20 12:06
the winter storms in February led to higher natural gas withdrawals
Texas Freeze Led To 10.6% Higher Natural Gas Withdrawals
Due to the winter storms in February, net natural gas withdrawals from storage this heating season exceeded the five-year average by 10.6 percent, the Energy Information Administration (EIA) said on Friday.
2021/04/19 10:06
Oil Moves Higher On Largest Crude Draw Since January
Oil Moves Higher On Largest Crude Draw Since January
Oil prices moved higher after the Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 30.

In fuels, the inventory moves were mixed.
Three Things That Will Drive Oil Prices In May
Three Things That Will Drive Oil Prices In May
The Energy Sector (NYSEARCA:XLE) has taken the lead in the S&P midday sector standings on Wednesday trading, jumping 3.5% as OPEC + appears ready to stick with earlier plans to slightly increase oil production from May 1. The OPEC technical committee has issued a bullish oil demand forecast, although a hawkish tone by the Fed could derail the recent oil price gains.

Meanwhile, the Federal Open Market Committee (FOMC) meeting is scheduled to take place on 27-28 April 2021, with the committee set to announce any changes to its monetary policy immediately after.
The restart of the Damietta is another major achievement for Egypt which intends to become an energy hub and exporter. There are also plans to transport Cypriot feed gas from its offshore fields through subsea pipelines to the two Egyptian liquefaction plants. Furthermore, several bids were announced to expand exploration activities in the Mediterranean, Red Sea, and the Western Desert to further increase the country’s domestic production capacity.
Egypt Restarts Major LNG Project On Rising Demand
Egypt Restarts Major LNG Project On Rising Demand.EU Admits It Can't Go Net-Zero Without Natural Gas.Egyptian Dolphinus Holding and Israeli Delek Drilling struck a landmark agreement and started importing additional gas from Israel's Leviathan and Tamar offshore fields in 2020.
The Joint Technical Committee of OPEC+ is concerned about the growing case numbers in India, Japan, and Brazil
OPEC+ Concerned About India’s Oil Demand
The Joint Technical Committee of OPEC+ is concerned about the growing case numbers in India, Japan, and Brazil, Reuters sources said on Monday.
When it comes to the final frontier for big oil discoveries, it’s not the Guyana-Suriname basin where supergiants like ExxonMobil (NYSE:XOM), Hess Corp. (NYSE:HES), and CNOOC (NYSE:CNOOC) have already staked their claims. And it’s not the American shale patch, where production has hit reverse gear with no end in sight. It’s Africa, where even small-cap companies are staking outsized claims of the kind that generously reward investors with a bigger risk appetite.
Energy Transition Could Doom Africa’s Oil Producers
When it comes to the final frontier for big oil discoveries, it’s not the Guyana-Suriname basin where supergiants like ExxonMobil (NYSE:XOM), Hess Corp. (NYSE:HES), and CNOOC (NYSE:CNOOC) have already staked their claims. And it’s not the American shale patch, where production has hit reverse gear with no end in sight. It’s Africa, where even small-cap companies are staking outsized claims of the kind that generously reward investors with a bigger risk appetite.
The U.S. renewable diesel market is hot—so hot, in fact, that one of the feedstocks for the highly profitable renewable fuel is running low, according to Valero.
Refiner Valero: U.S. Renewable Diesel Stocks Are Running Low
The U.S. renewable diesel market is hot—so hot, in fact, that one of the feedstocks for the highly profitable renewable fuel is running low, according to Valero.
Venezuela's PDVSA is using more of its domestic output of medium and light crude oil grades for refining, reducing their availability as diluents for its heavy export grades, Reuters has reported, citing sources familiar with the matter.
Venezuela Ups Domestic Oil Refining, Hurting Crude Exports
Venezuela's PDVSA is using more of its domestic output of medium and light crude oil grades for refining, reducing their availability as diluents for its heavy export grades, Reuters has reported, citing sources familiar with the matter.

The increase in local refining has been prompted by fuel supply shortages that have led to rationing, queues, and additional disgruntlement among the Venezuelan population.
Businesses in Nigeria are losing each year around US$29billion because of the unreliable power supply
Africa’s Largest Oil Producer Loses $29B Per Year On Power Outages
Businesses in Nigeria are losing each year around US$29 billion because of the unreliable power supply, the World Bank said in an estimate about the OPEC country, which is the largest oil producer in Africa.
Gunmen abducted early on Wednesday three employees of India’s Oil and Natural Gas Corporation (ONGC) on a rig site in northeast India, the country’s biggest oil and gas production firm
Gunmen Abduct Oil Workers In Northeast India
Gunmen abducted early on Wednesday three employees of India’s Oil and Natural Gas Corporation (ONGC) on a rig site in northeast India, the country’s biggest oil and gas production firm said in what could be a setback for the Indian efforts to reduce its reliance on crude oil imports.The abduction took place on a rig site of ONGC in the Lakwa field in the state of Assam, which is one of the three largest oil-producing states in India.
The Arab Gulf countries announced as much as US$10 billion worth of new projects in the oil and gas sector during the first quarter of 2021, out of the total US$32.3 billion projects in all sectors, a new report showed this week.
Arab Gulf Countries Announced $10 Billion In New Oil And Gas Projects In Q1
The Arab Gulf countries announced as much as US$10 billion worth of new projects in the oil and gas sector during the first quarter of 2021, out of the total US$32.3 billion projects in all sectors, a new report showed this week.
The disputed South China Sea may soon see an escalation in tensions over oil drilling rights between China and the Phillippines
Philippines Ready To Claim Oil Resources With Military
The disputed South China Sea may soon see an escalation in tensions over oil drilling rights between China and the Phillippines, according to Phillippine President Rodrigo Duterte who spoke to the public late on Monday.
the winter storms in February led to higher natural gas withdrawals
Texas Freeze Led To 10.6% Higher Natural Gas Withdrawals
Due to the winter storms in February, net natural gas withdrawals from storage this heating season exceeded the five-year average by 10.6 percent, the Energy Information Administration (EIA) said on Friday.

Oil And Gas Companies Set For Record Free Cash Flow This Summer

2021/06/25 15:28
Oil And Gas Companies Set For Record Free Cash Flow This Summer

With oil trading above $70 per barrel while investment activity remains low, the world’s publicly traded exploration and production (E&P) companies are set to generate record-breaking free cash flows (FCF) in 2021, a Rystad Energy report projects. Their combined FCF is expected to surge to $348 billion this year, with the previous high being $311 billion back in 2008.

Rystad Energy estimates that total gross revenue for all public upstream companies is expected to increase by almost $500 billion in 2021, or 55% compared to last year (excluding hedging effects). At the same time, the investment level of these companies is only expected to grow by around 2% in 2021, resulting in significantly higher profits.

A key reason for the all-time-high FCF is the turnaround in the US tight oil industry. Historically, this industry has struggled to generate positive returns, but this could change in 2021. We estimate that all public tight oil companies will to make close to $60 billion in FCF this year, before hedging effects.

The conventional onshore supply segment is in line to earn the highest level of FCF this year at close to $160 billion – but is still behind the record touched in 2011. Both deepwater and offshore shelf are recovering this year, each ending up with close to $60 billion in FCF. However, tight oil is expected to surpass both these offshore segments in 2021.

“Oil demand has gradually increased after the initial shock of the Covid-19 pandemic, and OPEC+ continues to hold back volumes from the market. The consequent high price movement has been further supported by a slow ramp-up in US tight oil activity. In conjunction with the persisting low investment environment, E&Ps are enjoying super-profits,” says Espen Erlingsen, head of upstream research at Rystad Energy.

The FCF comeback means more surplus cash for E&P companies and historically there has been a strong link between FCF and activity levels. Merger and acquisition (M&A) activity has recovered in 2021, with transaction values increasing by around 30% compared to 2020. New projects are also making a comeback: The amount of greenfield investment that has been sanctioned as of June has already matched the full year 2020 total, and we expect the full 2021 level to be double that of last year.