Oil and Gas Market Recap

Careers in the Oil & Gas Industry: A Guidebook of Practical Advice - https://amzn.to/2wO2oB8China's slowing demand for oil is a serious concern for the Middle Easthttps://www.cnbc.com/2018/09/03/china-demand-for-oil-is-a-serious-concern-for-the-middle-east.htmlRussian oil output keeps steady in August near post-Soviet highhttps://www.reuters.com/article/us-russia-energy-production/russian-oil-output-keeps-steady-in-august-near-post-soviet-high-idUSKCN1LI03J JAPAN CUTS LNG DEMAND, PLANS TO RESTART KANSAI ELECTRIC POWER REACTORhttp://cmferesearch.com/japan-restart-kansai-electric-power-reactor/10498/Forget the Permian Basin: This Oil Basin Is Where the Growth Is Right Nowhttps://www.msn.com/en-us/money/markets/forget-the-permian-basin-this-oil-basin-is-where-the-growth-is-right-now/ar-BBMvTqh

Careers in the Oil & Gas Industry: A Guidebook of Practical Advice - https://amzn.to/2wO2oB8China's slowing demand for oil is a serious concern for the Middle Easthttps://www.cnbc.com/2018/09/03/china-demand-for-oil-is-a-serious-concern-for-the-middle-east.htmlRussian oil output keeps steady in August near post-Soviet highhttps://www.reuters.com/article/us-russia-energy-production/russian-oil-output-keeps-steady-in-august-near-post-soviet-high-idUSKCN1LI03J JAPAN CUTS LNG DEMAND, PLANS TO RESTART KANSAI ELECTRIC POWER REACTORhttp://cmferesearch.com/japan-restart-kansai-electric-power-reactor/10498/Forget the Permian Basin: This Oil Basin Is Where the Growth Is Right Nowhttps://www.msn.com/en-us/money/markets/forget-the-permian-basin-this-oil-basin-is-where-the-growth-is-right-now/ar-BBMvTqh

Grab a copy of our book! -> https://amzn.to/2PgsqVuContact the show 318-599-9192

Grab a copy of our book! -> https://amzn.to/2PgsqVuContact the show 318-599-9192

Careers in the Oil & Gas Industry: A Guidebook of Practical Advice - https://amzn.to/2nnPJjq

Careers in the Oil & Gas Industry: A Guidebook of Practical Advice - https://amzn.to/2nnPJjq

Get your free trial from Drillinginfo: globalenergymedia.com/diNotes from the listener mentioned in the show: 1. Australian LNG is locked into mostly long contract and price for supply to Japan, South Korea and China etc.;2. Very few contracts are locked onto the spot price, though this is growing year by year;3. Most LNG departs the North West Shelf (Western Australia), with 90+% of recoverable conventional gas reserves;4. There is no pipeline (sadly) from the west coast gas network to the east coast, this option is very expensive as Australia is ~3500 km wide. Currently gas pipeline is being built from Northern Territory (North Coast) to East Coast at great expense;5. Three large gas trains were built simultaneously by three different groups of companies right next to each other on Curtis Island, Queensland to liquify Coal Bed Methane unconventional gas (which was not a smart decision, though made at the height of the oil price). Queensland Curtis LNG (a joint venture of QGC – now a Shell-owned business, China National Offshore Oil Corporation and Tokyo Gas), Australia Pacific LNG (a joint venture of ConocoPhillips, Origin and Sinopec), and Santos GLNG (a joint venture of Santos, Petronas, Total, and Kogas);6. Western Australian government imposed reservations of 15% onshore gas for the West Australian public (formalised in 2006);7. Very tight gas supplies and exploding gas prices on the East Coast;8. Some talks of gas companies colluding to keep gas supplies tight, which were vehemently denied by gas companies;9. Queensland CBM gas being liquified mainly, with some contracts unable to filled because of significant law changes in the development and exploration for unconventional and conventional onshore resources due to the national green movement in New South Wales and Victoria (both east coast states);10. Most gas for NSW and Vic supplies for QLD CBM anyway, with some development of Vic coast.11. Results in prices double that of Henry Hub on average, which is cheaper than long contracts to Japan excluding shipping costs and liquification;12. Creates dissent and talks of nationalisation and reservation from the Federal Government unless they supplied gas domestically; and13. Some companies release gas onto market, the destination of which was unknown beforehand.

Get your free trial from Drillinginfo: globalenergymedia.com/diNotes from the listener mentioned in the show: 1. Australian LNG is locked into mostly long contract and price for supply to Japan, South Korea and China etc.;2. Very few contracts are locked onto the spot price, though this is growing year by year;3. Most LNG departs the North West Shelf (Western Australia), with 90+% of recoverable conventional gas reserves;4. There is no pipeline (sadly) from the west coast gas network to the east coast, this option is very expensive as Australia is ~3500 km wide. Currently gas pipeline is being built from Northern Territory (North Coast) to East Coast at great expense;5. Three large gas trains were built simultaneously by three different groups of companies right next to each other on Curtis Island, Queensland to liquify Coal Bed Methane unconventional gas (which was not a smart decision, though made at the height of the oil price). Queensland Curtis LNG (a joint venture of QGC – now a Shell-owned business, China National Offshore Oil Corporation and Tokyo Gas), Australia Pacific LNG (a joint venture of ConocoPhillips, Origin and Sinopec), and Santos GLNG (a joint venture of Santos, Petronas, Total, and Kogas);6. Western Australian government imposed reservations of 15% onshore gas for the West Australian public (formalised in 2006);7. Very tight gas supplies and exploding gas prices on the East Coast;8. Some talks of gas companies colluding to keep gas supplies tight, which were vehemently denied by gas companies;9. Queensland CBM gas being liquified mainly, with some contracts unable to filled because of significant law changes in the development and exploration for unconventional and conventional onshore resources due to the national green movement in New South Wales and Victoria (both east coast states);10. Most gas for NSW and Vic supplies for QLD CBM anyway, with some development of Vic coast.11. Results in prices double that of Henry Hub on average, which is cheaper than long contracts to Japan excluding shipping costs and liquification;12. Creates dissent and talks of nationalisation and reservation from the Federal Government unless they supplied gas domestically; and13. Some companies release gas onto market, the destination of which was unknown beforehand.