Upstream companies are optimistic about oil prices in 2018, but financial health remains more of a priority than growth, according to Wood Mackenzie’s recently released second annual State of the Upstream Industry survey. The survey found that the industry believes oil prices will average above $60/bbl this year, rising further through to 2021. More than […]

Chinese shale gas production is expected to reach 17 billion cu m (bcm) in 2020. While almost double last year’s production of 9 bcm, China will still miss its 2020 30-bcm production target by a considerable margin, according to Wood Mackenzie. Source: News

The cumulative contribution to US economic growth from the addition of more LNG plants will range from $716 billion to $1.267 trillion between 2013 and 2050 under three cases, an ICF Inc. study commissioned by LNG Allies projected. It also projected 2-3.9 million job-years from US LNG plants during that period. One job for 1 […]

The Northern Territory’s government has lifted its ban on hydraulic fracturing of onshore gas prospects following the report of the independent scientific inquiry released last month. Source: News

Vermilion Energy Inc. has agreed to acquire Spartan Energy Corp., which produces oil and natural gas in southeastern Saskatchewan, in a stock deal worth $1.4 billion (Can.). Both companies are based in Calgary.  Source: News

The government of Alberta is moving toward restriction of energy movement to British Columbia in an escalating interprovincial conflict over expansion of the Trans Mountain pipeline system. Source: News

Crude prices climbed to more than 3-year highs for the week ended Apr. 13 before US-led air strikes on Syria, but oil prices dropped by more than $1/bbl in both London and New York Apr. 16. Source: News