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Tag Archives: reuters

Poll: Oil prices to stay weak for at least a year

Declining Oil Prices

Oil is likely to stay relatively weak for at least the next year, a Reuters poll forecast on Thursday, suggesting a slowdown in oil production in the United States will not be enough to offset a global supply glut. Reuters monthly survey of 32 analysts predicted North Sea Brent crude would average $60 a barrel in 2015, up 80 cents ...

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Whiting to sell part of company, not whole

Last week, Reuters published a report with mixed predictions for the future of Whiting Petroleum Corp.’s ownership; a Wall Street Journal article reported the company’s plans to sell, but an unnamed Whiting source seemed unaware of any such plans. Today, Investor’s Business Daily reports that the Denver-based company is seeking buyers for portions rather than ownership. According to the report, ...

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A brief history of the oil crash: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON, Feb 6 – In 2013 and early 2014, the growing imbalance between supply and demand in the oil market was masked by a string of supply disruptions as a result of war, unrest and sanctions. After a decade of high oil prices, supplies from North American ...

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North Dakota legislators to discuss oil tax distribution

This week the North Dakota Legislature will discuss how to distribute revenue generated by the state oil tax among its 53 counties. Also on the legislative docket is whether or not to waive sales taxes on materials used to build natural gas pipelines and chemical plants, according to a report from Reuters. During the 80-day session, the disbursement of oil ...

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Poll: Oil prices likely to rebound in second half of 2015

Crude oil prices are likely to bottom out in the first half of 2015, until a possible slowdown in U.S. shale production counters a supply glut exacerbated by OPEC’s decision not to cut output, a Reuters monthly survey showed. The Organization of the Petroleum Exporting Countries’ agreement last month to stand pat on output meant the onus for any supply ...

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Apache cuts back on spending

According to reports, Apache Corp. plans to reduce its 2015 North American onshore budget by $1.4 billion. The company has pinned its 2015 budget at $4 billion, which is down compared to its 2014 budget of $5.4 billion. Reuters reports that even though the company is cutting back, Apache still expects to exceed this year’s budget and end the year ...

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New standards for crude oil transportation in ND

tank cars

On Nov. 13 North Dakota plans to instate new laws regarding the treatment of crude oil that is transported out of the state, according to an article recently published on Reuters.com. Recent controversy surrounding the topic has caused legislatures to ‘lean away’ from requiring the conditioning of crude at the well site. However, the removal of volatile components will be ...

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IEA sees 2015 oil demand growth much lower, supply hitting prices

LONDON, Oct 14 – Demand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency said on Tuesday, and prices may extend their sharp fall so long as OPEC shows no sign of countering a supply surge. The IEA said it cut its 2015 estimate for oil demand growth by ...

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Energy quote of the day: ‘The Gulf Coast is going to be the place for having any storage’

coast

The US Gulf Coast is becoming the country’s preeminent petroleum storage hub as shale oil and natural gas liquids flow south to the massive refining and export center. In a move designed to capitalize on that trend, Enterprise Product Partners yesterday announced the $4.4 billion acquisition of storage company Oiltanking. And according to The American Lawyer: “Enterprise, which is also ...

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Should large pharmacy chains be in ND?

drugs

Lydia Gilbertson | Shale Plays Media Google+ North Dakota has grown exponentially in the past 4 years. Thanks to the implementation of hydraulic fracturing, a once quiet and sleepy corner of the state is now booming with people, money and jobs. However, pharmacy chains such as Walgreens, Rite Aid or CVS are few and far between. This is largely because of ...

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