Energy Update
With oil prices at lows not seen in more than 5 1/2 years, the global petrochemical industry finds itself playing memory games as it craves some much-needed guidance regarding price behavior.
The immediate reason for the oil price plunge seems fairly clear – producers going gung-ho at a time of weak demand, which is not helped by the buoyant greenback.
Asia-Pacific metallurgical coal spot prices were steady February 23 with Chinese participants still away on holiday - and supply repercussions of tropical cyclone Marcia in northern Australia widely seen as limited.
Warnings have been coming thick and fast from companies and oil-producing countries alike that cutting spending now will have an impact on production in the medium term. But in the short term, most of the European majors see production on the up.
Electricity capacity markets are between a hot and a cold place, and the strains are nowhere more evident than at the PJM Interconnection.
Shifting price relationships in Latin America means some crude grades are finding new market opportunities, both within the region and beyond.
It was supposed to be one of the few things that could stop oil prices from falling further: a major producer in the Middle East closing oil export terminals.
A decision on the utilization of the OPAL gas pipeline should be taken "now," to ensure Europe has sufficient resources in place to face a possible disruption in gas transits through Ukraine this winter,
Although Myanmar has been pumping onshore oil for well over 100 years and offshore gas for over 15 years, it only produced about 16,500 b/d oil and 241,000 Mcf/day of gas per day in 2013.
Growing natural gas liquids production spurred by the US shale gas boom has stoked interest in new classes of ships to move ethane and LPG across oceans: very large ethane carriers and ultra large gas carriers.
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