Daily Archives: October 6, 2015

BP Settles With US Gov For $20.8 Billion

Rate this article Article Abstract: In announcing the settlement reached by BP with the U.S. Justice Department and five states, Attorney General Loretta Lynch said the British energy giant got “the punishment it deserves” for its role in the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.The $20.8 billion settlement, announced Oct. 5…

Oil Industry Gaining Ground In Washington To End Export Ban

Rate this article Article Abstract: Congress is getting closer to voting on ending the 40-year-old ban on exporting U.S. crude oil, but even if the measure passes, it’s not clear whether President Obama will sign it or veto it. In September, House Majority Leader Kevin McCarthy, Republican of California, promised to allow a vote on…

Top 10 Reasons Why JP Morgan Thinks LNG Is Doomed

Rate this article Article Abstract: With LNG supply set to increase meaningfully over the next few years, JPMorgan sees a buyer’s market until 2020 with limited new long term contracts being signed and renewal of existing contracts post expiry likely to have more price diversification (i.e. more Henry hub component) and offtake/diversion flexibility. A recent…

New EPA Data Show Methane Emissions Continue to Plummet

Rate this article Article Abstract: Just after the Environmental Protection Agency (EPA) rolled out new regulations on methane emissions for oil and gas development, the agency released the latest data in its Greenhouse Gas Reporting Program.  The new data show, once again, that methane emissions from oil and gas development are low and continue to rapidly…

Has Oil Finally Bottomed?

Rate this article Article Abstract: As stated in past articles, the fundamentals are a minor part of asset appreciation these days, while Federal Reserve actions are the major part. Last Friday, this was on display, as one of the largest market reversals in history occurred, not based on fundamentals but on more QE hopes. It’s…