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Shale-rich Oklahoma to try again on closing a budget gap

State leaders are called to a special session starting Dec. 18 to address the shortfall in the budget for the current fiscal year, Oklahoma’s governor said. Oklahoma Gov. Mary Fallin said there’s a hole in the budget of about $111 million because of loss in revenue from a cigarette tax. As a result of lingering […]

Canadian oil closer to getting out of North America

A Canadian city at the center of the debate over the overhaul of the Trans Mountain oil pipeline said a construction permit was an example of federal overreach. The National Energy Board, an independent federal regulator, ruled that pipeline company Kinder Morgan doesn’t have to comply with bylaws in the city of Burnaby, located in […]

The Panama Canal Is Now a Major Problem for U.S. Shale

But 17 months in, it’s not quite working out as planned. Only a single LNG tanker has a guaranteed passage each day. The natural-gas industry blames the Panama Canal Authority for holdups, and the canal authority blames the industry for being lackadaisical about transit timetables. Whoever’s at fault, this much is clear: The pressure is […]

Natural Gas Price Fundamental Daily Forecast – $2.720 Next Major Target

Natural gas futures plunged another 5 percent on Thursday after government data showed a surprise build in U.S. supplies in storage the week-ending December 1. According to the U.S. Energy Information Administration (EIA), weekly natural gas storage in the U.S. rose by 2 billion cubic feet (bcf) last week. Traders were looking for a withdrawal […]

Putin says Russia can and should occupy worthy niche in global LNG market

Russian President Vladimir Putin said on Friday that Russia was capable of occupying a worthy niche in the global market for liquefied natural gas (LNG) and should do just that. Putin also said that LNG export projects must not lead to a reduction in the volume of gas Russia exports via pipelines. He was speaking […]

BP says 2017 a success as it shifts focus to natural gas

The massive Zohr gas field off Egypt will come online by the end of December, marking the completion of what British energy giant BP says is one of its biggest years ever as it increasingly focuses on international natural gas projects. BP is shifting from crude oil toward cleaner-burning gas projects in developing parts of […]

Oil rises, paring weekly decline

Oil rose, paring a second weekly loss, as strong Chinese crude imports allayed concerns that U.S. markets may remain oversupplied. Futures climbed 1.4 percent in New York, paring this week’s loss to 1.5 percent. China’s crude oil imports rebounded from a one-year low to near a record amid signs the nation’s commercial stockpiles shrank by […]

Oil prices down on U.S. gasoline level shocker

Crude oil prices lost ground early Wednesday on a build in U.S. gasoline supplies, an indication of lower demand, and fears about the global economy. Oil prices came under pressure Tuesday when the Organization of Economic Cooperation and Development said inflation moved lower for the world’s major industrialized economies. That followed an OECD warning the […]

Geopolitical risk isn’t what’s driving oil prices anymore

At the end of October, Brent crude prices crossed $60 per barrel for the first time in two years. They peaked at around $64. Experts explained the spike with vague references to “geopolitical risk,” without really detailing what those risks entailed. Such explanations are not wrong, but they are careless. A proper geopolitical risk assessment […]

Democratic leaders, indigenous groups, say “no” to Alaskan drilling

Alaskans who rely on its pristine resources for survival don’t want the drilling outlined in the Republican tax bill, members of the indigenous community said. A $1.4 trillion, 479-page, tax reform bill passed along partisan lines early Saturday morning with Republican leaders in the Senate pushing the measure through with a 51-49 margin. The bill […]