Riegel: How Louisiana lost a $10 billion plant

It wasn’t easy for Tommy Kurtz to leave Louisiana. The former Louisiana Economic Development executive grew up in New Orleans—a Jesuit High School Blue Jay—and his roots run deep. When his former colleague and friend, Iain Vasey, offered him a position at the Corpus Christi Regional Economic Development Corp. in mid-2015, he was torn. His […]

Oil price, Trinity, Sundry-VOG-FOG-EOG-NOP-Gulfsands- And finally…

A very mixed market at the moment as shown by movements yesterday. Do they ever learn is the watchword as yet again the teenage scribblers on the Strasse completely missed the point. I read one report that suggested that it was difficult to understand why there was a build in product stocks after such a […]

Clock ticking on Nigerian oil reform

After a 10-year wait, Nigeria and much of the oil sector globally wait this week in shared anticipation for the passing of the Petroleum Industry Bill (PIB). With just a few days left until the self-imposed deadline announced by the Senate for introducing the PIB, are we at last on the verge of a resurgence […]

Oil price, Aminex, Sundry-Genel-Lamprell- And finally…

The oil price is up this morning, the first day since Easter and both WTI and Brent have since lost about four bucks a barrel for supply reasons. The supply in question has been from the US where I and others reported last week that the EIA had pushed up supply numbers although crude inventories […]

OPEC Production Cuts and The Long Road To Market Balance

Global oil inventories are falling because of OPEC and non-OPEC production cuts but the road to market balance will be long. Production cuts have removed approximately 1.8 million barrels per day (mmb/d) of liquids from the world market since November 2016. Saudi Arabia has cut 619 kb/d (35% of total) and the Gulf States Cooperation […]

Does The Biggest Winner Of The OPEC Deal Support An Extension?

OPEC continues to make progress on cooperation as they close in on an agreement to extendtheir production cuts for another six months. On April 20, several top OPEC officials voiced their most definitive statements yet on the extension, even as they caution that more work needs to be done. “There is consensus building but it’s not […]

Fulfilling the Promise of Weatherford

It is said what CEOs most enjoy is a challenge with outsize reward. If so, Mark McCollum should be ecstatic. As the incoming CEO of Weatherford International, he is now tasked with resurrecting one of the more perennially promising, yet frustratingly underachieving, companies in the oil patch. McCollum’s predecessor, long-time CEO Bernard Duroc-Danner, built an organization with a […]

Trump Flips Oil Prices

Last week, the US launched 59 Tomahawk missiles against the Syrian government in response to chemical gas attacks on its own the civilian population there. Then later in the week, the US announced that it has dropped the GBU-43/B Massive Ordinance Air Blast (MOAB) bomb – better known as the Mother of All Bombs – […]

Drain The Swamp, Not The Gulf

During the Presidential campaign, the current administration promised to “Drain the Swamp” – shorthand for cutting federal bureaucracy. Candidate, now President, Trump also promised to be more friendly to the traditional energy industry and has nominated cabinet members, undergoing confirmation hearings at the time of this writing, who give every indication of at least understanding the traditional […]

More Chinese crude oil imports coming from non-OPEC countries

hina is the world’s largest net importer of crude oil, and in recent years, China’s crude oil imports have increasingly come from countries outside the Organization of the Petroleum Exporting Countries (OPEC). While OPEC countries still made up most (57%) of China’s 7.6 million barrels per day (b/d) of crude oil imports in 2016, crude […]