NrgEdge Editor

Sharing content and articles for users
Last Updated: December 6, 2018
1 view
Business Trends
image

Market Watch

Headline crude prices for the week beginning 3 December 2018 – Brent: US$61/b; WTI: US$52/b

  • After falling down to fresh lows last week – with WTI prices dipping below US$50/b at one point – crude oil prices improved after the G20 meeting in Buenos Aires, where the US and China agreed to a temporary truce over their trade war
  • While no concrete agreements over energy were announced at the G20 summit, the slightly thawing in trade tensions allowed crude benchmarks to rise slightly, assisted by an announcement by Canadian producers in Alberta that output would be cut by 325,000 b/d beginning January
  • Russia and Saudi Arabia agreed at the G20 summit to extend the OPEC+ deal into 2019, suggesting that a coordinated oil output cut was in the works, also supported prices ahead of OPEC’s meeting in Vienna this week
  • Not present at the OPEC meeting, however, will be Qatar, which quit the oil cartel in a surprise move; the tiny sultanate said it was quitting due to its small oil production, choosing instead to focus on its LNG industry, but the move can be seen as a response to the Saudi-led boycott of Qatar, calling into question Saudi Arabia’s ability to hold the fragile OPEC coalition together
  • Consensus among analysts point to OPEC+ agreeing to remove some 800,000 b/d of crude oil from the market beginning January, aimed at establishing a floor for oil prices at some US$65/b
  • The downward spiral of crude prices has put the brakes on US drilling activity, with 2 new oil rigs offset by the loss of 5 gas rigs last week; analysts are expecting shale explorers to cut spending budgets in 2019 in response to weak prices, raising spectres of the 2015 price slump
  • Crude price outlook: Ahead of the OPEC meeting on December 6, crude should be kept up by expectations of a renewed supply cut, with Brent likely to trade rangebound around US$61-63/b and WTI at US$52-53/b

Headlines of the week

Upstream

  • Buoyed by the prolific nature of the Permian Basin, Shell has announced plans to nearly double its production in the shale patch with AI-powered technology
  • China and the Philippines have set aside sovereignty issues, signing an agreement for joint exploration and development in the South China Sea
  • Facing severe pipeline bottlenecks, Canada’s Alberta province is looking to purchase rail cars to ship more crude oil by train out of the province towards the US, as a temporary measure while new pipeline are proposed and built
  • Shell has completed the sale of Shell E&P Ireland to Nephin Energy Holdings, which includes a 45% in the Corrib gas venture, for US$1.3 billion
  • In Norway, Shell also sold its interests in the Draugen and Gjøa fields for US$526 million to OKEA AS, but retains its interests in the Ormen Lange and Knarr fields, as well as the Troll, Valemon and Kvitebjørn projects
  • Petrobras has sold its stake in 34 onshore production fields to Brazilian firm 3R Petroleum for US$453.1 million, as well as stakes in three shallow-water offshore fields off Rio de Janeiro to Perenco for US$370 million
  • Pemex tripled its estimated reserves in the Ixachi field to 1.3 billion barrels of oil, calling it the ‘most important onshore field in 25 years’ and expecting peak production of 80,000 b/d of condensate and 720 mscf/d of gas by 2022

Downstream

  • Uganda has pushed back the opening of its first oil refinery to 2023, in line with estimates by Total, CNOOC and Tullow Oil, as crude oil production is now only expected to begin in 2021
  • Malaysia will be introducing a B10 biodiesel mandate in December over a phased rollout, with complete implementation expected by February 2018
  • Pertamina expects to begin works on upgrading its Balikpapan refinery in early 2019, aimed to increasing fuel standards to Euro V and upgrading capacity to process sour crude together with its current medium heavies
  • ExxonMobil plans to upgrade its Rotterdam refinery to expand Group II base stock production, following the installation of a new hydrocracker
  • The US EPA has increased its annual blending mandate for advanced biofuels by 15% and kept conventional biofuels blending requirement steady for 2019, while maintaining waivers for selected refineries

Natural Gas/LNG

  • Petronas and Vitol Asia have signed a long-term LNG supply agreement, with Petronas providing LNG from the LNG Canada project in Kitimat, providing up to 800,000 tons per annum for 15 years beginning 2024
  • Eni and Anadarko have been giving a 2023 deadline to submit key development plans for the Area 1 and 4 LNG complex in Mozambique
  • Tullow Oil is backing the attempt by three former Cove Energy executives in the Comoros Islands by taking stakes in Discover Exploration’s blocks, hoping to repeat the trio’s success in discovering the Rovuma block
  • South Korea’s Posco Daewoo has signed a deal with Brunei National Petroleum Company to jointly explore LNG opportunities in Brunei, with specific focus on the development of the Dehwa area operated by Posco Daewoo
  • Rosnedt and the Beijing Gas Group have set up a joint venture focusing on building and operating a network of up to 170 CNG fuel stations in Russia, using LNG as motor fuel

Oil Oil and Gas News Oil and Gas Industry LNG Oil and Gas Companies News Weekly Update Market Watch Market Trends Latest Oil and Gas Trends
3
2 3

Something interesting to share?
Join NrgEdge and create your own NrgBuzz today

Latest NrgBuzz

Our Team Can Write Your Paper

Every college student knows how daunting some college assignments may be. Therefore, most of them are searching for time-tested and appreciated essay writing services that can offer quality, safe and affordable assistance. 

Are you the one who is looking for the platform that will “do my essay for me cheap and fast?” Do not waste your time browsing the web, but rather focus on the WritePaperForMe page. 

The overwhelming majority of college students claim the service to be reliable and efficient. Quality and authenticity of the accomplished assignments, timeliness of the submission, the safety of the personal information and affordability of provided services are the core values of the team. 

Therefore, if you are still searching for an answer to the “who can write my essay for me cheap” question, you should give WritePaperForMe a try. Talk to the staff, providing them with the details of your order. Instead of asking, “Do my paper for me fast and cheap”, you should be more precise, specifying your requirements. 

As one of the students mentioned, “the team of professionals do not only write my paper but also take maximum care of my safety and success”. 

December, 09 2021
floating fish feed production equipment for sale

floating fish feed pellet machine is widely used for produce high-grade aquatic feed pellets for fish, catfish, tilapia,shrimp,crab,lobsters,etc.Food for fishes requires contains rich crude protein, but the crude protein in the food is hard to digest for the fish.Fish feed pellet mill is specially designed to solve such problems. After being extruding processed by the machine, the feed can be easy to digest. Moreover, the user can change extrusion degree to influence floating time,it also can produce both floating and sinking type fish feed pellet .Fish food making machine with advanced single screw extruder,doesn’t need steam boiler.Floating fish feed pellet mill is used to produce floating fish feeds at home or for small scale fish farms with low cost investment.It ensures the new investors affordable to the machine,it is the best choice for aquaculture farms ,small and medium fish feed processing plants .

The floating fish feed pellet machine production equipment operated well without any preconditioning of the feed material other than grinding. This allows the fish food making machine to accept a dry, free flowing material, therefore simplifying the preparation equipment.The fish feed pellet machine can produce human foods, animal feeds and adhesives made from cereal grains. it can impart cooks that destroy undesired enzymes, such as urease, lipase and myroxinase. These extruder machine transform cereal,grain,oilseeds into porous collects that dissolve extract very efficiently. The outlet of fish feed pellet mill equipped with a firmly mounted mold, so it can produce different size and shape feed pellet .Moreover, one fish feed pellet machine is equipped with extra easy wear parts for free including two sleeves, one screw, one cutting knife and three die moulds.

December, 01 2021
animal feed pellet mill for sale,animal feed pellet machine making poultry feed

Animal feed pellet mill is mainly used for small-scale production of animal and poultry feed pellets, it’s popular in grain feed factory, farm, poultry farm,small size feed plant.The raw materials are easy to obtain in most place, like corn, maize, wheat bran, rice, beans,cassava,grass ,stalk etc. Driven by electric motor makes it more energy-saving and environmental friendly,,it can be used for diesel drive for the electric power shortage area.The animal feed pellet market is growing fast with recent years,feed pellet mill machine becomes more and more popular in breeding industry. Featured with the unique advantages of competitive price, low consumption,simple structure and small area coverage,it is an ideal pelleting machine for small-scale industrial production and home use.That’s why more and more families and plants choosing them to produce the feed pellets.

Features of livestock feed pellet making machine

● Cheap price
The feed pellets are expensive and can cost you much money. you will not have to buy the pellets from the shop with this machine.Due to their different model with different prices, you can select one that will match your budget.
● Multifunction
The good thing about this machine is that it caters for both small and large farmers. It will help you develop high quality feeds that will improve the growth of your livestock. The machine is great because you will get the feeds without much effort. It will perform most of the tasks for you.
● Small size
Cattle feed equipment is small and light in weight to allow you to transfer it to your place of choice.With the pig feed pellet machine, you will perform all the tasks by yourself.
● Easy to operate
This feed pellet making machine adopted high precision gear driven,advanced flexible coupling to get high production efficiency .Once you purchase this equipment, you will easily come up with quality feed pellets without any skills,it’s not necessary to hiring a professional worker to operate it for you.

December, 01 2021