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Affordable Natural Gas

Affordable Natural Gas and Bettering Low-Income Americans’ Lives

“Fracking saves low-income Americans’ lives”… This article is about research earlier this year. This is a calculation that lowers heating costs with surging domestic affordable natural gas production. Its result is 11,000 winter deaths in the U.S. each winter from 2005 to 2010.

A lot of taxpayer dollars are useable to help make life better for less-advantaged Americans. The energy produced right here at home has had a significant positive impact. The impact is on the quality of life for many of our fellow citizens.

The researchers are two from Northwestern University and a third from Monash University in Australia. With that, they take note that there is an increase in natural gas production. As a result, it was possible by advanced hydraulic fracturing and modern horizontal drilling, helped drive down energy prices, allowing Americans to affordably heat their homes without affecting their spendings for other needs, such as food and health care.

We find that lower heating prices reduce mortality in the winter months. The estimated effect size implies that the drop in natural gas prices in the late 2000s, induced largely by the boom in shale gas production, averted 11,000 winter deaths per year in the US. We also find that the effect does not just represent short-run hastening of mortality. We show that the effect, which is driven mostly by cardiovascular and respiratory causes, is robust to several checks on the specification.

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Source: API.org (American Petroleum Institute)

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Iran Oil Prices

Iran Oil Prices Can Rattle Sabers

In response to the escalating tensions between Iran and the U.S., some Iranian officials have threatened to close the Strait of Hormuz. So, will this affect the Iran Oil Prices? It’s not the first time the country has made the threat; it happened in December 2011.

Very few think Iran would actually try to close the Strait, though it might take steps to slow the traffic. Too many countries depend on the oil that passes through it, and Iran needs allies, not more enemies.

However, just the threat used to cause an economic shock and rising oil prices in most developed economies. For example, the last time Iran threatened to close the Strait average gasoline prices topped out at nearly $4.00 a gallon in early 2012.

That hasn’t happened this time. While U.S. average gasoline prices are up 50 cents or 60 cents a gallon for the year, they’re still well under $3.00 a gallon in most places (except California).

Part of that rise is a result of Saudi Arabia and the Organization of Petroleum Exporting Countries (OPEC) cutting back oil production in an effort to increase the price of oil. In addition, U.S. refineries are shifting to their “summer blend” of gasoline, which slows production and costs more, putting upward pressure on prices.

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Source: Thehill.com

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Oil Price: Saudis Raise To Asia As Demand Spikes

Saudi Arabia is Expected to Raise the Oil Price

Emboldened by strong prompt demand amid tighter oil supply due to the U.S. sanctions on Venezuela and Iran, the world’s top oil exporter, Saudi Arabia is expected to raise the oil price of the crude grades it sells on its premium market, Asia, for July, trade sources told Reuters on Thursday.

Oil Price: Saudis Raise To Asia As Demand Spikes

The Saudis could raise the price of their flagship Arab Light crude grade by up to $1 per barrel.

The price for Arab Light with a June delivery date is now the highest in almost a year, with Arab Medium selling at the highest price since the end of 2013, and Arab Heavy at a six-year high.

Increasingly Sought

Heavy grades of crude oil have become increasingly sought after by Asian refiners in recent years. This is primarily due to the rising demand for heavier, high sulfur content crude oil in the region. Asian refiners have been investing in upgrading their refining capacities to process heavy crudes, as they offer higher yields of valuable products such as diesel and fuel oil. This shift in demand has created a surge in the need for heavy grades, putting pressure on global supply.

Availability of Heavy Grades of Crude Oil

However, the availability of heavy grades of crude oil has been declining, posing a challenge to Asian refiners. One of the major factors contributing to this decline is the ongoing production slump in Venezuela. The country has been grappling with a severe economic and political crisis, which has significantly hampered its oil industry. The production decline in Venezuela, exacerbated by the political woes, has resulted in a reduced supply of heavy crude oil in the global market.

As a result, Asian refiners are finding it increasingly difficult to secure sufficient quantities of heavy crude to meet their growing demand. They have had to explore alternative sources, such as the Middle East and Africa, to fulfill their requirements. However, these regions also face their own production challenges, further complicating the supply situation. The tight supply of heavy grades has led to increased competition among refiners, driving up prices and putting additional strain on their profitability.

Long-Term Contracts

In response to these supply constraints, some Asian refiners are considering long-term contracts with oil-producing countries to secure a stable supply of heavy grades. Others are investing in upgrading their refining capacities to process different grades of crude oil, thereby diversifying their feedstock options. Additionally, efforts are being made to increase domestic production of heavy crude in Asian countries, reducing their reliance on imports.

In conclusion, the demand for heavy grades of crude oil among Asian refiners has been on the rise, driven by the need for higher yields of valuable products. However, the supply of heavy grades has been declining due to Venezuela’s production slump and political turmoil. This has created supply challenges for Asian refiners, leading to increased competition and higher prices. To mitigate the impact of these constraints, refiners are exploring various strategies such as securing long-term contracts, upgrading their capacities, and boosting domestic production.

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Source: Oilprice.com

 

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Ohio’s Shale Energy Industry Attracts $74B in Investment

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Total investment in Ohio’s resource-rich shale energy sector has reached $74 billion. It was since tracking began in 2011, according to a Cleveland State University study.

Prepared for JobsOhio, the report represents the most recent data available. It covers shale investment through the first half of 2018. It comes just weeks after IHS Markit released estimates that by 2040. The Utica and Marcellus shale region, of which Ohio is a significant part, will supply nearly half of all U.S. natural gas production.

The study from CSU’s Energy Policy Center at the Maxine Goodman Levin College of Urban Affairs. It was shown that drilling activity slowed but remained significant in Ohio from January to June 2018. During the first half of the year, investment in Ohio’s upstream, midstream, and downstream energy ecosystem totaled $4.6 billion, the study showed.

Upstream activities, such as drilling or royalties, accounted for more than $3.4 billion of this total. According to the Ohio Department of Natural Resources, 157 wells were listed as “drilled, drilling or producing” in Ohio. It is with Belmont, Monroe, and Jefferson counties represent the most active areas.

Investment continued in Ohio’s midstream assets. This include assets such as pipelines, processing plants, and storage, in the first six months of 2018. The investment included nearly $400 million worth of construction starts for processing plants, which represent the compression, dehydration and fractionation necessary in the processing of natural gas resources.

However, the period saw more limited investment in transmission lines, largely due to the recognition of the Nexus pipeline investment being attributed completely to the second half of 2017.

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Source: Construction Equipment Guide

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Range pledges to achieve zero gas emissions

That Broke Ground

Zero Gas Emissions: The company that broke ground, literally and figuratively, in the Marcellus Shale is striving for another groundbreaking achievement.

Zero greenhouse gas emissions.

Zero Gas Emissions: Range Pledges to Achieve

The Largest Natural Gas Driller in the Region

Range Resources, the largest natural gas driller in the region, issued its first Corporate Sustainability Report on Tuesday. It is a 32-page summary detailing its successes in reducing emissions over the past decade, along with other corporate initiatives, accomplishments and goals.

The most prominent goal, which jumps off page 5, is this Report Highlight: “Range is actively working to achieve zero emissions across our operations.”

 

Commitment to Achieve Zero Emissions

The commitment to achieve zero emissions across all operations is a crucial and ambitious goal that Range is actively pursuing. As a responsible and forward-thinking company, Range recognizes the urgent need to address climate change and reduce its carbon footprint. By striving for zero emissions, Range not only aligns itself with global efforts to combat climate change, but also demonstrates its dedication to sustainable business practices.

A Comprehensive Strategy

To achieve this goal, Range has implemented a comprehensive strategy that encompasses various aspects of its operations. Firstly, Range is investing in research and development to explore innovative technologies and solutions that can help reduce emissions. This includes exploring renewable energy sources. Such as solar and wind power, as well as investing in energy-efficient equipment and processes. By constantly seeking out new and improved methods, Range aims to minimize its environmental impact and pave the way for a more sustainable future.

Additionally, Range is actively collaborating with industry partners, governments, and stakeholders to drive change on a larger scale. Through partnerships and alliances, Range can leverage collective knowledge and resources to accelerate the transition towards zero emissions. This includes sharing best practices, advocating for policy changes, and participating in industry initiatives focused on reducing greenhouse gas emissions. By actively engaging with others, Range seeks to foster a collaborative approach towards sustainability that goes beyond individual efforts.

In Conclusion

Range’s commitment to achieving zero emissions is a testament to its dedication to environmental stewardship. Through strategic investments, research, and collaboration, Range is actively working towards a future where its operations have minimal impact on the environment. By setting such an ambitious goal, Range aims to inspire other companies and industries to follow suit and join the global effort to combat climate change.

 

 

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Source: Observer Reporter

 

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2019 U.S. Oil Pipeline Report: Permian Production Spurs New Projects

U.S. Oil Pipeline Report

The U.S. Oil Pipeline Report, anticipated increase in production will be supported by further evaluation. Infrastructure development plans and secured capacity to transport oil and gas to ExxonMobil’s Gulf Coast refineries and petrochemical operations through the Wink-to-Webster, Permian Highway and Double E pipelines.

keystone-xl-pipeline-constructionPermian unconventional net oil-equivalent production is now expected to reach 600,000 bpd by 2020 and 900,000 bpd by 2023.

Meanwhile, the long-delayed Keystone XL project has returned to the forefront, as full construction was set to begin this year in Montana, North Dakota, South Dakota and Nebraska. One judge halted construction activity, but President Donald Trump has renewed support for the project.

In addition, a number of other projects have been humming along as the 2019 summer construction season ramps up. What follows is an overview of the oil-related pipeline projects currently under way or in the development process.

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Source: North American Oil & Gas Pipelines

 

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Saudi oil Giant Aramco strikes deal to buy US natural gas from Sempra Energy

Saudi Oil Giant Aramco has signed an agreement

Saudi Oil Giant Aramco has signed an agreement to buy U.S. liquefied natural gas from San Diego-based utility Sempra Energy.

  • The agreement would see Aramco buy 5 million tons of liquefied natural gas per year. From Sempra’s Port Arthur, Texas export terminal.
  • This would be Aramco’s first deal to buy LNG from the United States. And advance the oil giant’s goal of becoming a major player in the growing global gas market.
  • If finalized, the deal would make it that Sempra Energy gives the green light to its Port Arthur LNG facility.

Sempra LNG and Aramco Services Company, Signed a Heads of Agreement

Subsidiaries of the two companies, Sempra LNG and Aramco Services Company, announced on Wednesday that they’ve signed a heads of agreement. Which sets up a deal that would see Sempra sell Aramco 5 million tons per year of LNG for the next 20 years. The agreement is subject to negotiation and finalization.

The agreement will see Aramco make a 25% equity investment in the facility.

 

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Source: CNBC

 

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U.S. oil slips on demand worries; but global crude buoyed by Mideast tensions

U.S. Oil Slips

U.S. Oil Slips – U.S. prices settled lower Tuesday as U.S.-China trade woes weighed on energy-demand prospects. However, Middle East tensions provided some support for the global benchmark.

“The U.S.-China trade war…has already surprised markets by intensifying further than anyone initially expected, and because of that, near term risks are to the downside right now,” said Richey.

ExxonMobil

ExxonMobil Evacuates 30 Engineers from Iraq, Basra Oil Company Says

ExxonMobil evacuated about 30 foreign engineers from Basra, Iraq. This is as a “temporary precautionary measure,” the government-owned Basra Oil Company said Saturday.

The staff members evacuated to Dubai and there are “no indicators that companies operating the oil fields are facing any security threats,” the Basra Oil Company said.
“ExxonMobil has programs and measures in place to provide security to protect its people, operations, and facilities. We have a commitment to ensuring the safety of our employees and contractors. This is at all of our facilities around the world,” spokesperson Julie L. King said.
Earlier this week, the US State Department ordered the departure of non-emergency US government employees from Iraq. Moreover, this is amid growing tensions between the United States and Iran, Iraq’s neighbor to the east. Tensions have soared between Washington and Tehran. Since Washington scrapped a landmark nuclear deal with Iran that briefly brought an end to its economic and diplomatic isolation.
The Trump administration reimposed stringent sanctions on Iran, including on its enormous oil industry. Recently, the Trump administration has accused Tehran of threats against US troops and interests.

Recent Attack on Oil Tankers

The issue of Iranian involvement in recent attacks on oil tankers in the Gulf and on a Saudi oil station has been marred by conflicting claims and denials from both sides. While the United States and its allies have pointed fingers at Iran, accusing them of orchestrating these attacks. They argue that accusations are baseless and claim that it is the United States who is unnecessarily escalating tensions with Tehran.

The Iranian government has consistently continue its innocence, insisting that it is committed to peaceful coexistence and stability in the region. Iranian officials assert that they have no reason to engage in such acts of aggression, as it goes against their foreign policy principles and strategic interests. They have called for a thorough and impartial investigation into the incidents, urging the international community to approach the matter with caution and skepticism towards the accusations made by the United States and its allies.

Iran’s denial of involvement has further complicated an already tense situation in the Gulf region. The accusations against Iran have heightened concerns about a potential military confrontation between the United States and Iran. The possibility of devastating consequences for the global economy and regional stability. As the international community closely monitors the developments, it is crucial to approach the situation. A balanced and objective perspective, considering all available evidence before drawing any conclusions about the parties involved in these attacks. Only through a transparent and thorough investigation can the truth be reveal and a peaceful resolution be fulfill.

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Petroleum Industry

Bigger, Better, Bakken: Petroleum Industry Optimism In North Dakota

The Bakken formation centered on western North Dakota already heading to Asian and European markets. The future for North American shale and onshore production is bright. This is for at least the next two decades, appears promising. There’s more to their petroleum industry.

Approximately $580 billion per year—more than $12 trillion in total—is a requirement. This is according to the IEA. This is in order to meet that growth in energy demand from onshore and offshore investments.

Applying “lean capabilities” and having the ability to ramp production up from 130,000 barrels per day to aas 200,000 bpd. This would take additional infrastructure by 2021. This is according to Biggs.

“The Bakken is our crown jewel in the near term,”. An internal study commissioned by Hess’s board pointed to value delivery that Biggs said placed his operations in the top-tier of the basin, saw cost reductions and asset optimizations was adding value, called for additional technological investments, and put the company in a robust position regarding remaining inventory.

“To do that we have to have an infrastructure in place that can get the crude, natural gas, and liquids out of the basin,” Biggs continued. He pointed to projects like the recently completed Dakota Access Pipeline (DAPL) that allows the company to be well-positioned for near term expansion.

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Source: Fair Field Sun Times

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