Page 3 - Platts Analytics News Today

Second-quarter production gains from the Haynesville, Appalachia, the Permian and the SCOOP-STACK have led US natural gas output higher by nearly 2 Bcf/d recently, helping to ease supply tightness in the US gas market. Based on recent producer guidance, though, further production gains anticipated over the balance of 2022 are unlikely to offer end-users an ...

According to S&P Global's Platts Analytics service, U.S. natural gas production in June increased slightly to an average 94.5 Bcf/d (billion cubic feet per day), up nearly 1.9 Bcf/d (roughly 2%) compared with a first-quarter average at 92.6 Bcf/d. The increase was led by more output in the Haynesville which has grown by 600 MMcf/d

Two prominent oil industry groups in a June 16 letter addressed to President Joe Biden outlined the realities faced by US refiners in response to his June 14 letter requesting they meet with the Department of Energy to find a way to increase gasoline and diesel output to bring down the price of gasoline and ...

London-based Ineos is continuing its overhaul of the UK’s largest crude supply route, the Forties pipeline, aiming to support North Sea operators in investing in production into the 2040s while upgrading the linked Grangemouth petrochemical facility, the company’s UK head Andrew Gardner said in an interview. Ineos, which is majority-owned by businessman Jim Ratcliffe, is ...

Asia is breathing a sigh of relief amid growing expectations that the move by the OPEC-led alliance to boost supplies as well as sustained releases from the US strategic reserves will finally help to clear the uncertainty over cargo availability and rectify the mismatch between global demand and supply. With China’s demand recovering after lockdowns ...

Milder temperatures last week likely allowed more US natural gas supply to flow into storage, briefly pausing the rally in Henry Hub futures prices ahead of an anticipated ramp in summer gas demand. The US Energy Information Administration this week is expected to report a 96 Bcf injection to US gas storage for the week ...

Asia may gain an edge in negotiating bigger discounts for spot Russian cargoes, seal some long-term contracts, as well as witness the emergence of new buyers in the region, as the EU’s move to distance itself from those cargoes may create a problem of plenty for the leading non-OPEC supplier. The latest pledge by the ...

China’s gasoline and gasoil exports are likely to remain muted in June as Beijing is hesitant to release oil products export quotas in large quantities because of the government’s strong focus on domestic energy security in the wake of surging oil prices, market analysts and refinery trading sources told S&P Global Commodity Insights. Beijing is ...

Desperate times call for desperate measures, and for Asian governments it’s time to act rather than wait for oil prices to cool. After shelling out more than $100/b for months, Asia’s leading oil importing nations are running out of patience and are either slashing taxes or providing subsidies on fuels to ensure consumption does not ...

Iraq is looking to boost is oil production capacity to 5 million b/d by 2025, the country’s oil minister said during a visit to France, as OPEC’s second largest producers seeks to drum up foreign investments to help develop its oil fields. Iraq is seeking to further ramp up its oil production capacity to 8 ...