Natural Gas Generates the Most Electricity #OilmanNEWS Alex Mills Contributors Downstream Oil and Gas News 

Natural Gas Generates the Most Electricity

Natural gas continues its streak as the leading fuel to generate electricity across the U.S. The Energy Information Administration (EIA) reports natural gas accounted for 62 percent of the new utility-scale additions in 2018 followed by wind with 21 percent and solar photovoltaic with 16 percent. Overall, 31.3 gigawatts (GW) of generating capacity was added last year, which had the… Read More
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Investors Seek Increased Returns From Oil Producers #OilmanNEWS Alex Mills Contributors Oil and Gas News 

Investors Seek Increased Returns From Oil Producers

Even though crude oil prices have increased 20 percent since Jan. 1 and U.S. oil production set a record of 12 million barrels per day (b/d) last month, investors in exploration and production (E&P) companies are demanding greater capital discipline and increasing returns. The focus centers on publicly-held independent oil and gas producers, which have been the most active players… Read More
Oil prices rise as OPEC production declines #OilmanNEWS Alex Mills Contributors Oil and Gas News Upstream 

Oil Prices Rise as OPEC Production Declines

The price of crude oil continued its recovery last week on news of a reduction in oil production worldwide and positive economic news. The Organization of Petroleum Exporting Countries (OPEC) released its monthly production report on Tuesday revealing a decline of 797,000 barrels per day (b/d) in January to 30.81 million b/d, which is just below its projections for oil… Read More
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Venezuela’s financial troubles impact Texas and U.S. Alex Mills Contributors Oil and Gas News Texas 

Venezuela’s Financial Troubles Impact Texas and U.S.

The political turmoil in Venezuela has huge implications internationally, especially for Texas and the United States. Petroleos de Venezuela (PDVSA), the nationally owned energy company, currently owns three refineries in the U.S. – located in Corpus Christi, Lake Charles, La. and Lemont, Ill. – that refine 749,000 barrels of oil per day under the corporate umbrella of Citgo. PDVSA produces… Read More
Venezuela’s economy, oil production, government in trouble Alex Mills Contributors Oil and Gas News 

Venezuela’s Economy, Oil Production, Government in Trouble

Venezuela’s socialist government has been on a downhill slide for years. This week the U.S. sanctioned state-owned oil and natural gas company Petròleos de Venezuela, S.A. (PdVSA) and its central bank. Oil production, Venezuela’s primary cash producer, has steadily declined during the past 10 years resulting in foreign partners continuing to cut activities in the oil sector. With Venezuela’s heavy… Read More

Industry leaders predict increased activity this year #OilmanNEWS Alex Mills Contributors Oil and Gas News 

Industry Leaders Predict Increased Activity This Year

The oil and gas industry expects to increase drilling, production and capital expenditures during 2019, according to a variety of surveys of leaders of oil and gas companies released recently. The American Oil & Gas Reporter, a national trade magazine, released its January issue this week revealing that respondents said they plan to drill 22.1 percent more wells this year… Read More
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