Featured Articles

Aug 02, 2014

Forecast & Analysis

Chevron Still Outspending Exxon -- Market Talk

Chevron (CVX) still holds the title of biggest spender among all American energy producers. The company shelled out $10.2B in capital expenditures in 2Q, above the $9.8B that much larger rival Exxon Mobil (XOM) spent during the period. CVX spent $19... Full Story

Apache's Kitimat Exit Deals Blow to B.C.'s LNG hopes -- Globe & Mail

By Brent Jang Of THE GLOBE AND MAIL VANCOUVER (Globe and Mail)--Apache Corp. is exiting the Kitimat LNG project in British Columbia, leaving co-owner Chevron Corp. scrambling to find a new partner to keep plans alive for exporting liquefied natural gas from Canada to Asia... Full Story

Tudor: 2020 US Oil Output to Far Surpass EIA View -- Market Talk

Tudor Pickering expects another 4.8M barrels/day of US output growth the rest of the decade, putting the figure at 12.3M in 2010 and far above the EIA forecast of 9.1Mbd of continental US production by then... Full Story

Oil Markets May Be Overlooking Libya Woes -- Market Talk

[Dow Jones]--Oil prices keep falling, with U.S. prices down to a four-month low; but markets could be overlooking some serious threats to Libyan oil supply... Full Story

Sanctions Could Hurt Russia Oil Output, Fitch Says -- Market Talk

The latest round of Western sanctions on technology sales to Russia's oil and gas industry will make it harder to maintain production from depleting West Siberia brownfields, Fitch Ratings says... Full Story

Bakken Rail Bet on a Feeling Pays Off for Globalís Slifka

By Lynn Doan Aug 1, 2014 When Eric Slifka landed in North Dakotaís Bakken shale field three years ago, he says he was overcome by ďthis feeling of a lot of growth. You could feel the pressure... Full Story

Top News Stories

One Kurdish Tanker Waits Off Texas, Another Heads to U.S.

By Dan Murtaugh and Jack Kaskey Aug 1, 2014 As a tanker filled with disputed Kurdish oil sits off the coast of Texas for a fifth day, another shipment may be making its way to the East Coast... Full Story

Taiwan Gas Explosions Kills 24 in Southern City of Kaohsiung

By Yu-Huay Sun Aug 1, 2014 Blasts caused by leaked gas overnight in Taiwanís biggest port city killed at least 24 people and injured about 271, in what local television described as the nationís deadliest gas explosion... Full Story

U.S. Energy Companies Deferring Taxes by the Billions

By Daniel Gilbert The U.S. energy boom is producing a little-noticed side effect: American oil and gas companies are paying less in federal income taxes... Full Story

U.S. Stocks Fall Sharply

By Chris Dieterich U.S. stocks fell sharply, on course to snap a five-month winning streak for the broad stock market. Traders said there was no single catalyst for the selling, which came on the heels of broad losses in European shares. U.S... Full Story

India Drops Claim to Unlock Offshore Oil in China Contrast

By Andrew MacAskill and Arun Devnath Jul 30, 2014 If good fences make good neighbors, that may explain why much of Asiaís recent territorial tension has centered on the ocean... Full Story

U.S. Crude Oil Stocks Fall More Than Expected

NEW YORK--U.S. crude stockpiles fell more than expected in the week ended July 25, according to data released Wednesday by the U.S. Energy Information Administration. Crude-oil stockpiles fell by 3.7 million barrels to 367... Full Story

Financial

Natural Gas Prices Fall Again as Supply Exceeds Demand

By Timothy Puko NEW YORK--Natural gas prices dropped slightly Friday as weather forecasts suggest demand won't keep up with record supply. Prices for the front-month September contract settled down 4.3 cents, or 1.1%, at $3... Full Story

Oil Futures Prices Extend Losses

By Christian Berthelsen Oil futures prices extended their losing streak on Friday, falling in tandem with equity markets, as a key refinery outage in the U.S. was expected to weigh on commercial crude-oil demand. Light, sweet crude for September delivery fell 29 cents, or 0... Full Story

Oil Heads for Biggest Weekly Drop in 7 Months on Demand

By Moming Zhou Aug 1, 2014 West Texas Intermediate crude capped its biggest weekly decline in seven months on concern that demand will fall as refineries slow operations. Brentís premium over WTI narrowed from a one-month high... Full Story

Natural-Gas Prices Slip as Supply Keeps Overwhelming Demand

By Timothy Puko NEW YORK--Natural-gas prices are backtracking Friday as weather forecasts suggest demand won't keep up with record supply. Natural gas for September delivery fell as low as $3... Full Story

Oil Traders More Bullish Than Current Prices Show -- Market Talk

Investors expect US oil to average $101/barrel the next year, according to a Bernstein survey of 86 investors. That as front-month Nymex futures are at $97.45, with prices for delivery in July 2015 at $92.45... Full Story

Oil Heads for Biggest Weekly Drop in 7 Months on Demand

By Moming Zhou Aug 1, 2014 West Texas Intermediate crude headed for its biggest weekly decline in seven months on concern slowing refinery operations will reduce crude demand. Brent slid. Prices dropped for a fifth day. U.S... Full Story

Releases

Shell, Woodside Deal Derailed by Unhappy Shareholders

By Ross Kelly and Justin Scheck PERTH, Australia--Shareholders of Australian oil-and-gas producer Woodside Petroleum Ltd. on Friday killed a proposed $2.68 billion deal to buy back a Woodside stake owned by Royal Dutch Shell... Full Story

Exxon's 2Q Profit was Boosted by Divestitures -- Market Talk

Casting a pall on Exxon's (XOM) 2Q EPS "beat" was earnings including 40c of divestiture gains, says Oppenheimer. Back that out, and EPS fell some 20c short of consensus. "Upstream came in below expectations on weaker production while downstream was impacted by weaker margins." XOM fell 4... Full Story

CGG Plans to Cut Fleet, Jobs After Second-Quarter Loss

By Tara Patel Aug 1, 2014 CGG SA (CGG), a seismic surveyor of oilfields, will cut jobs and accelerate reductions in its fleet of vessels after delayed orders led to a second-quarter loss... Full Story

Apache May Sell Western Canadian Shale Gas Assets, CEO Says

By Chester Dawson Apache Corp. said Thursday it may divest some natural gas holdings in Western Canada in line with its plans to exit a proposed liquefied natural gas project on the Pacific coast, which the shale gas assets were expected to supply... Full Story

Ashland Inc. reports preliminary financial results for the third quarter of fiscal 2014

Ashland Inc. reports preliminary financial results for third quarter of fiscal 2014 -- Earnings from continuing operations total $0.90 per diluted share -- Adjusted earnings from continuing operations rise 24 percent to $1.63 per diluted share, which excludes $0... Full Story

BG Beats Profit Estimates on Brazil Production Boost

By Eduard Gismatullin and Nidaa Bakhsh Jul 31, 2014 BG Group Plc (BG/), the U.K. oil and gas explorer seeking a chief executive officer, posted a 23 percent jump in earnings after income from liquefied natural gas surged and production in Brazil increased... Full Story

Weather

Storm Bertha Will Lash Caribbean on Track Into Atlantic

By Charlotte Porter Aug 1, 2014 Tropical Storm Bertha will lash parts of the Caribbean with rain and gusty winds on a path that curves away from the U.S. East Coast... Full Story

Disturbance could grow into a tropical depression today

Tropical disturbance, 2 a.m. Wednesday outlook. OUTLOOK: Despite limited thunderstorm activity, the tropical wave in the Central Atlantic remains well organized and could grow into a tropical depression or storm later Wednesday or on Thursday... Full Story

Japan City Evacuates 90,000 as Typhoon Nears Kyushu

By Jacob Adelman and Brian K. Sullivan Jul 9, 2014 Typhoon Neoguri weakened to a tropical storm as it moved toward Japanís southernmost main island of Kyushu after prompting the evacuation of almost 90,000 people amid threats of floods and landslides... Full Story

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NATURAL GAS STORAGE*
EIA report for week ending 7-18-2014 Our prediction for week ending 7-25-2014
2219 2312
Weekly change
+90up +93upest

Commodity Prices ($)

Natural Gas4.167
Crude Oil93.64
Heating Oil2.9017
RBOB Gas2.8118
Coal59.03