Category Archives: CERAWeek

Oil output cuts past June must include non-OPEC members: OPEC Secretary General | Reuters

Any decision to extend OPEC production cuts past June would have to include the continued participation by the non-OPEC members of the November accord, OPEC Secretary General Mohammad Barkindo said on Tuesday.The group held talks in recent days with shale oil producers and hedge fund executives, he said during a media conference at the CERAWeek energy conference in Houston. This is the first time OPEC held bilateral meetings with shale producers and investment funds, Barkindo said.”I think we have broken the ice between ourselves and the industry, particularly the tight oil producers and the hedge funds who have become major players in the oil market,” he said in remarks on the sidelines of the energy conference.OPEC plans to hold an event to consider the impact of oil futures on physical crude markets, he said, without providing details.

Source: Oil output cuts past June must include non-OPEC members: OPEC Secretary General | Reuters

San Antonio-based TexStar Midstream Logistics to build EPIC Pipeline linking Permian Basin to Corpus Christi – SABJ

A San Antonio-based company has entered into a joint venture to build a 730-mile pipeline that will link the oil fields of the Permian Basin to refineries and marine terminals at Port Corpus Christi.

Source: San Antonio-based TexStar Midstream Logistics to build EPIC Pipeline linking Permian Basin to Corpus Christi – San Antonio Business Journal

IHS Energy CERAWeek Conference on April 20-24 in Houston, TX

CERAWEEK-Natural gas industry ready to rebuild depleted U.S. supply

RPT-CERAWEEK-Natural gas industry ready to rebuild depleted U.S. supply: Thomson Reuters Business News – MSN Money.

Energy Department Prepares for Deeper Look at Crude Oil Exports

The Energy Department is preparing new analyses of the potential effects of lifting U.S. restrictions on crude oil exports as political pressure on the Obama administration to ease the decades-old limits increases.

Adam Sieminski, head of the Energy Information Administration, said he envisions a “series of reports that begin to lay the foundations to allow policymakers to understand the issue.”

via Energy Department Prepares for Deeper Look at Crude Oil Exports – NationalJournal.com.

Chevron Phillips, BASF discuss how long shale will keep chemical companies’ costs down

With more than $100 billion committed to U.S. chemical expansion projects, most of which are in the Gulf Coast, it is undeniable that chemical companies are optimistic about the cost advantages of setting up operations in the U.S.

However, up for question is how long these operations will have significant cost advantages from low-cost feedstocks produced in shale plays.

via Chevron Phillips, BASF discuss how long shale will keep chemical companies' costs down – Houston Business Journal.

CERAWEEK-For oil traders, a vexing new risk: U.S. politics

Oil traders are past masters at handicapping geo-political risks, from war in the Middle East to resource nationalists in Latin America. Lately, they face another confounding political landscape: Washington.

As a bounty of shale oil transforms the trading landscape across North America, U.S. policymakers are being confronted with a host of issues that hold immediate and material implications to energy companies, investors and traders.

While energy policy has typically moved at a steady, stately pace for much of the past few decades, Washington is now grappling with a host of pressing questions that will affect oil prices: easing a crude oil export ban that could raise domestic crude prices; adjusting ethanol quotas in order to curb gasoline rates; imposing new rules on tank car safety that could slow the nascent oil-rail boom.

via CERAWEEK-For oil traders, a vexing new risk: U.S. politics | Reuters.

CERAWEEK-Mexico to be rival oil, gas supplier to US -Canada minister | Reuters

Mexico’s energy reform initiative will spark competition with Canada in terms of supplying the United States with oil and natural gas, further fueling the major oil producer’s efforts to diversify export markets, Canada’s minister of natural resources said on Tuesday.

“There’s no question that Mexico has embarked on a bold move,” Joe Oliver, Canada’s natural resources minister, told reporters at the annual IHS CERAweek energy conference in Houston.

“They will emerge as another player. We’re focusing on diversifying our market, so that’s perhaps yet another reason to do that. Well, in fact it is,” he said.

via CERAWEEK-Mexico to be rival oil, gas supplier to US -Canada minister | Reuters.