Patrick Reames - Author Archive

New wave of mega LNG projects is approaching

LONDON (Reuters) by Dmitry Zhdannikov & Ron Bousso – A new race to build multi-billion dollar liquefied natural gas (LNG) plants is gaining momentum after a long hiatus in investments as energy giants sense a widening supply gap within five years. Spending on new, complex facilities that super-chill gas into liquid... continue reading

The Emergence of the Mega Vendor?

Over the last 25 years or so, the talk around the virtual ComTech water cooler will occasionally turn to the topic of “which vendor or vendors, if any, will emerge as the big fish in the ETRM/CTRM pond?” Many years ago, we saw Caminus making moves in that direction via... continue reading

Aspect provides a client briefing post ION acquisition

Earlier this year, ION sent shock waves through the E/CTRM community as it announced the acquisition of both Aspect Enterprise Solutions and then OpenLink. While merger & acquisitions in the E/CTRM space are nothing new, having a history as long as the software category itself, the move by ION surprised... continue reading

BP pays $10.5 billion for BHP shale assets to beef up U.S. business

MELBOURNE/LONDON (Reuters) by Sonali Paul & Ron Bousso – BP Plc (BP.L) has agreed to buy U.S. shale oil and gas assets from global miner BHP Billiton (BLT.L) (BHP.AX) for $10.5 billion, expanding the British oil major’s footprint in some of the nation’s most productive oil basins in its biggest... continue reading

Energy giants opening natural gas spigots, fueling profit rise

HOUSTON (Reuters) – The world’s largest oil companies are pumping more natural gas than ever before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions. This marks a shift over the past decade for an industry that once... continue reading

ICE to launch Houston oil contract, building on export growth

(Reuters) – Intercontinental Exchange on Tuesday said it would launch a crude oil futures contract deliverable in Houston later this quarter, capitalizing on the growth in U.S. exports of crude oil that have risen to about 2 million barrels a day. Houston has become the pricing center for U.S. crude... continue reading

U.S. shale oil output expected to hit record high in August: EIA

NEW YORK (Reuters) by Jessica Resnick-Ault – U.S. oil output from seven major shale formations is expected to rise by 143,000 barrels a day to a record 7.47 million barrels per day in August, the U.S. Energy Information Administration said in a monthly report on Monday. Production is expected to... continue reading

The fallout in commodities from the U.S.-China Trade war: what’s at stake

BEIJING (Reuters) by Josephine Mason – Washington imposed tariffs on $34 billion of Chinese imports on Friday and Beijing has said it will retaliate with punitive measures on U.S. products worth a similar amount, including soybeans, pork and cotton. The Chinese government had not officially confirmed on Friday afternoon that... continue reading

Drillinginfo’s Energy Disruptors Summit – Examining Today’s Toughest Energy Issues in a Beautiful Setting

I had the opportunity to participate in Drillinginfo’s 2018 Energy Disruptors Summit last week in Lake Tahoe.  This event, which focused on many of the critical issues facing today’s US energy markets, was designed not as a conference, but more of an information sharing opportunity among the invited executives from... continue reading

Marine shipping sector eyes LNG to meet clean fuel rules

WASHINGTON (Reuters) by Julie Gordon – With new global emissions standards looming, the marine shipping industry is increasingly looking at liquefied natural gas as alternative to high-sulfur bunker fuel, shipping and energy executives said at a global gas summit this week. Already used to fuel ferry fleets and cruise ships,... continue reading

Oil rallies as supply disruptions seen from Canada to Libya

NEW YORK (Reuters) by Jessica Resnick-Ault – Oil prices jumped on Wednesday as plunging U.S. crude stockpiles compounded supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington’s demands that importers stop buying Iranian crude from November. Little spare capacity remains to offset... continue reading

U.S. court dismisses climate change lawsuits against top oil companies

(Reuters) – A California federal court dismissed climate change lawsuits against five oil companies by the cities of San Francisco and Oakland, saying the complaints required foreign and domestic policy decisions that were outside the purview of courts, Chevron Corp said on Monday. The cities of San Francisco and Oakland,... continue reading

Reuters says Exxon is going to expand trading ops and is looking at ETRM software

Reuters posted a story overnight that Exxon Mobil, the “largest non-trading energy company in the world”, is going to shed that title and start actively trading around their huge physical resources.  From the Reuters story: Exxon Mobil Corp. is pushing deeper into energy trading, building a global cadre of experienced... continue reading

LNG trade grows 10 percent in 2017 as U.S., Australia boost exports

(Reuters) by Scott DiSavino – Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in the Australia and the United States, the U.S. Energy Information Administration (EIA) said on Monday. LNG trade reached 38.2 billion cubic feet per day (bcfd) in... continue reading

An Update: Long Island Iced Tea/Long Blockchain Corp crashes to Earth

As readers of this blog may remember, back in December I looked at the story of the Long Island Iced Tea Corp. changing their name to the Long Blockchain Corp. and declaring that they had pivoted from being a money hemorrhaging bottled-drink company to now being a bleeding edge blockchain-centric... continue reading

Surge in 2018 EU steel imports directly linked to Trump tariffs: Eurofer

BRUSSELS (Reuters) by Maytaal Angel – An 8 percent surge in European steel imports this year is a direct result of Washington’s import tariffs on the metal, which have caused trade flows to be deflected to Europe’s shores, European steel industry association Eurofer said on Thursday. The association called on... continue reading