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LNG import on the rise in China | OutPut by Rig Lynx

June 25, 2018
| Archives

China’s imports of liquefied natural gas (LNG) rose in May as the country continued its switch from coal and oil to natural gas in a push for cleaner air. China imported 4.15 million tonnes of LNG last month, up 42.8 percent year-on-year, according to the General Administration of Customs data. These imports rose 0.66 million tonnes when compared to the

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The unstoppable train that is called “Growth Demand†| OutPut by Rig Lynx

June 25, 2018
| Archives

A potent cocktail brewing? Global oil supply will break through the 100 million b/d mark for the first time later this year. Producers the world over, through innovation and risk-taking, have invariably contrived to meet the unstoppable train that is demand growth. The general upward progress, though, has been punctuated by wild fluctuations in the fortunes of some producing

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Ghana announce’s growth acceleration plan | OutPut by Rig Lynx

June 24, 2018
| Archives

The Ministry of Planning has hinted of Government’s plans to develop and implement a ten-year Power Sector Master Plan (PSMP) which would be reviewed to meet the medium-to-long term energy needs. The intervention will target reduction in generation, transmission and distribution losses to promote demand management while reducing the operational inefficiencies in energy supply and distribution. According to the

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A new observing country joining OPEC? | OutPut by Rig Lynx

June 24, 2018
| Archives

Russia is ready to consider the possibility of joining the Organization of the Petroleum Exporting Countries (OPEC) as an observer, Russian Energy Minister Alexander Novak told reporters. “This option really exists, it is under consideration. We are carefully studying this issue,†he said. Novak also confirmed the possibility of meeting with US Secretary of Energy Rick Perry in Washington

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Good look at the Gulf of Mexico | OutPut by Rig Lynx

June 24, 2018
| Archives

BOEM has March 2018 production at 1696 kbpd, which is down 1 percent month-on-month and 4 percent year-on-year (March 2017 was the peak production month for GoM so far). EIA numbers were very similar, although last month’s were higher and haven’t been revised yet – typically EIA numbers end up almost exactly corresponding to the BOEM reported

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Midland-Odessa Defying the numbers? | OutPut by Rig Lynx

June 24, 2018
| Archives

There may not be enough synonyms or antonyms in Roget’s Thesaurus to describe Midland-Odessa’s economy these days. “I’ve used words like dramatic and stratospheric,†said Karr Ingham, the Amarillo economist who prepares the Midland-Odessa Regional Economic Index and the Midland Economic Index for the Midland Development Corporation. He settled for “unparalleled†in stating, “What we’re seeing in this economic

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Egypt Eyes LNG Export | OutPut by Rig Lynx

June 24, 2018
| Archives

Egypt may have just issued its last LNG tender, setting the stage to resume exports next year. Imports of liquefied natural gas may stop in the fourth quarter, allowing for exports to start early next year as Eni SpA’s Zohr and other gas fields boost production in the country and help to draw more foreign investment, Petroleum and

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No shortage of inexpensive oil in the world, most of it buried under layers of negligence | OutPut by Rig Lynx

June 23, 2018
| Archives

Who should be the supplier of choice for the world’s 100-million-barrel-a-day oil needs? Should there be a merit order ascribed to producers? We rank ballroom dancers and wannabe singers on television. Restaurants, hotels, videos, and even doctors are thumbs up and down on social media. So why wouldn’t we rate oil-producing countries too? For too long, self-appointed judges have demoted

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Oil prices push higher after OPEC meeting | OutPut by Rig Lynx

June 23, 2018
| Archives

OPEC has finally met, and as most expected, the cartel agreed that any country within the group that has space capacity will be able to boost oil production, with Saudi Arabia and Russia arguably standing to gain the most.  OPEC issued a communique on Friday that called on a return to 100 percent compliance for the group, down from 152

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