Less than a decade ago, the global energy forecast seemed bleak. Global demand quickly outpaced new sources of supply, driving oil’s march toward an unprecedented high of $145 per barrel. Rising prices put downward pressure on global economic growth, and many countries, including the U.S., were largely dependent on foreign supplies. In 2006, the U.S.…Details
The U.S. shale gas fields have given the country a new competitive advantage in the plastics industry, helping to spur $130 billion in new capital investments, according to the American Chemistry Council. In a report looking at the rising competitive advantage of the U.S. plastics industry, the council found that inexpensive supplies of natural gas…Details
The Australian northern state of Queensland’s next resources frontier is about to open after the State Government put 11,000sq km of western Queensland out to tender for exploration. Natural Resources Minister Anthony Lynham believes shale gas will be what explorers will look for in the sparsely populated southwest corner bounded by Windorah, Betoota, Eromanga and…Details
The South African government has commissioned a 12.5 million rand two –year investigation into the possible effects and potential mitigation opportunities of shale gas if it is found in the country. The assessment takes the country a step closer to exploiting what are believed to be vast reserves of the gas in the Karoo basin.…Details
While the oil and gas industry was excited about the idea of waterless fracking and the environmental and health benefits that it would bring, a test well in Ohio well has not yet demonstrated commercial potential. The $22 million test well operated by EV Energy Partners, along with eight other companies, in Tuscarawas County, Ohio,…Details
Henry Hub spot prices are likely to average $2.93/MMBtu this year and $3.32/MMBtu next year, according to the Energy Information Administration (EIA), down 14 cents and 13 cents, respectively, from the agency’s previous month forecast. EIA’s price forecasts have been on a general downward trend for some time. In March, the agency said it expected…Details
U.S. shale production growth will fall 86,000 barrels per day next month, the U.S. Energy Information Administration estimated in its monthly report, more evidence the nation’s oil boom is in decline. The EIA’s monthly forecast is the second in a row to project an overall decline in domestic production growth, as diminishing output from older…Details
A new shale gas transmission pipeline has started operations in southwest China’s Chongqing municipality, Sinopec said.
The 136 km pipeline links Sinopec’s Fuling shale gas block in Chongqing to the Sichuan-Shanghai Pipeline and has a capacity of 6 bcm/y, allowing the company to sell shale gas to eastern coastal provinces.
IGas Energy and its multinational partners are working on a five-year development plan for shale gas projects in the North West and the East Midlands. The British oil and gas company yesterday told investors that chief executive Andrew Austin is to step down following the completion of the INEOS transaction this week. It also unveiled…Details
With indigenous North Sea production in decline for over 10 years now – just a little under half of UK gas demand is being met by domestic supply. On a global scale, the UK’s shale gas reserves are smaller than those in other parts of the world, but they still could play a pivotal role…Details