Patrick Reames - Author Archive

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

More than 14 percent of U.S. farm exports at risk in trade disputes: official

DES MOINES (Reuters) – More than $20 billion of $140 billion of U.S. farm exports has or is likely to have retaliatory tariffs against it as a result of trade disputes with countries such as China and Mexico, the United States Trade Representative’s chief agricultural negotiator said on Thursday. Mexico... continue reading

U.S. oil exports jump to record 1.76 million bpd in April: Census data

NEW YORK (Reuters) – U.S. crude exports surged to a record 1.76 million barrels per day (bpd) in April from 1.67 million bpd in March thanks to the rising discount for U.S. crude versus the global benchmark, foreign trade data from the U.S. Census Bureau showed on Wednesday. Most of... continue reading

Higher PJM auction prices won’t save some U.S. nuclear plants

(Reuters) by Scott DiSavino – U.S. nuclear power generators are sticking with plans to shut several reactors after none of them cleared an auction to supply capacity in the country’s largest power grid despite winning bids nearly doubling, energy companies and analysts said on Thursday. A record amount of nuclear capacity... continue reading

Cyber researchers, Ukraine warn of possible Russian attack

TORONTO/KIEV (Reuters) by Jim Finkle & Pavel Polityuk – Hackers have infected at least 500,000 routers and storage devices in dozens of countries, some of the world’s biggest cyber security firms warned on Wednesday, in a campaign that Ukraine said was preparation for a future Russian cyber attack. The U.S.... continue reading

Oil producers boost 2019 hedging – Goldman Sachs

NEW YORK (Reuters) by Stephanie Kelly – Oil producers have picked up the pace in hedging against further production in 2019, with an average price at about $60 a barrel, which limits upside but protects against volatility, according to Goldman Sachs. For 2018, about 48 percent of oil production is... continue reading

Allegro and BroadPeak Announce Global Strategic Partnership

DALLAS, May 16, 2018 – Allegro Development Corp., a leading provider of commodity trading and risk management (CTRM) software, announced today that it has formed a strategic partnership with BroadPeak Partners, a world-renowned developer of K3 and other intuitive UI applications that provide both custom and off-the-shelf interconnectivity toward a... continue reading

India’s Infosys sets up blockchain-based trade finance network with seven banks

MUMBAI (Reuters) – India’s Infosys Ltd (INFY.NS) has formed a blockchain-based trade finance network with seven private-sector banks, to increase security and efficiency in the banking sector while also broadening its product offering. India’s second-biggest software services exporter, whose Finacle software powers the core functions of the majority of Indian... continue reading

Oil holds near multi-year highs on Iran supply concerns

NEW YORK (Reuters) by Jessica Resnick-Ault – Global benchmark Brent crude stabilized near 3-1/2-year highs on Friday as the prospect of new U.S. sanctions on Iran tightened the outlook for Middle East supply at a time when global crude production is only just keeping pace with rising demand. U.S. crude... continue reading