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Tag Archives: Energy Information Administration

Natural gas flaring in North Dakota has declined sharply since 2014

natural gas flaring in North dakota

The volume of North Dakota’s natural gas production that is flared has fallen sharply in both absolute and percentage terms since 2014. In March 2016, 10 percent of North Dakota’s total natural gas production was flared, less than one-third of the January 2014 flaring rate, which was at 36 percent. Flaring rates and volumes have significantly decreased as North Dakota’s ...

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Report: California carbon tax hikes gas prices 11 cents

SACRAMENTO, Calif. (AP) — The California Legislature’s nonpartisan analyst estimates the state’s pollution tax has raised gasoline prices by 11 cents per gallon and diesel prices by 13 cents, according to a month-old letter released last week. The pollution tax costs drivers collectively about $2 billion a year, Legislative Analyst Mac Taylor said. His staff calculated the estimate in response to ...

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Kuwait says fire at northern oil well has been contained

KUWAIT CITY (AP) — A fire that erupted at an oil well in northern Kuwait has been extinguished, the Gulf nation’s state news agency reported Wednesday. Government-run Kuwait Oil Co. announced the fire earlier in the day, with an official saying that firefighters were working to put it out. Company spokesman Saad al-Azmi was quoted by the official Kuwait News ...

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Natural Gas Prices Expected to Rise

natural gas prices

Natural gas prices are expected to rise in the coming months as a national supply glut is drawn down, according to the US Energy Information Administration. Although prices have been low during the first few months of this year’s winter, lower production volumes and cooler weather are anticipated to bring them up slightly in 2016. Record Production As of January ...

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Oil on the export market: Good or bad?

Critics are quick to note the similarities between today and the Nixon-Ford-Carter 1970s. Now, we can add one more parallel. The U.S. once again is an oil exporting country. Somewhere in the bowels of of the monstrous $1.1 trillion spending bill Congress rammed through Dec. 18 can be found approval for the U.S. to flip the “on” switch to the ...

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Marcellus and Utica remain on top at the bottom of 2015

Some toast to new beginnings, others toast to new resolutions, but the Marcellus and Utica shales will be toasting the past four years as the clock ticks into 2016 on Friday.  Together, the two oil plays account for 85 percent of U.S. natural gas production growth since 2012 according to the Drilling Productivity Report (DPR) the Energy Information Administration (EIA) ...

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Four countries added to global shale oil, natural gas assessment

global shale resources

The Energy Information Administration continues to expand its assessment of technically recoverable shale oil and natural gas resources around the world. The organization added four new countries – Chad, Kazakhstan, Oman and the United Arab Emirates – to the previous 42 countries.  The additions resulted in a 13 percent increase in global assessed total resource estimate for shale oil and ...

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Stein’s law says oil prices will rise: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – “If something cannot go on forever, it will stop,” according to Herbert Stein, former chief economist to U.S. President Richard Nixon (“What I think: essays on economics, politics and life” 1998). Stein’s law is one of the most simple but important statements in economic theory, ...

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Oil down; market looks beyond Paris attacks to refocus on glut

NEW YORK – Crude oil futures fell about 1 percent on Tuesday, resuming their slide after a one-day pause, as oversupply concerns returned to suppress a market briefly lifted by geopolitical worries linked to the Paris attacks. A Reuters poll of analysts forecast that U.S. crude stockpiles rose for an eight straight week last week, building by 1.6 million barrels ...

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U.S. shale oil output will be less resilient than gas: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. natural gas production hit a new record in August, despite the deepening slump in gas prices and a fall in the number of rigs targeting gas formations. The failure of gas production to respond to lower prices and a falling rig count has left ...

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