Tag: gas drilling

Best in Energy – 30 May 2023

China’s economic rebound has lost momentum (WSJ)

China’s dependence on fuel and fuel imports (Guardian)

China’s firms slash costs of silicon wafers (Bloomberg)

U.S./China strategic competition and risk reduction (FT)

Saudi Aramco’s contested equity valuation (Bloomberg)

Saudi Arabia becomes major diesel trading hub (Reuters)

UAE chairmanship of climate conference criticised (FT)

India’s new refineries may be smaller in future (Reuters)

Vietnam cuts street lighting to conserve power (Reuters)

HEDGE FUNDS and other money managers increased short positions in NYMEX WTI by +10 million barrels to 72 million barrels over the seven days ending on May 23. Bearish short positions had increased by a total of +50 million barrels over the five weeks since April 18:

U.S. OIL AND GAS drilling activity continued to slow in response to the fall in prices since the middle of 2022. The number of active rigs fell by -9 over the seven days ending on May 26 and has dropped by a total of -73 (-9%) since the start of December 2022:

Best in Energy – 27 February 2023

Indonesia’s production of lower-grade nickel surges

India boosts imports of low-grade coal to up generation

China accelerated approval for coal generators in 2022

(see also underlying report from CREA/GEM)

WTI to be included in Brent benchmark from June 2023

EU explores cautious electricity market reform ($BBG)

Russia’s semiconductor imports and sanctions ($WSJ)

NATO explores options to end war in Ukraine ($WSJ)

China’s diplomatic intervention in Ukraine ($BBG)

NATO and Russia at war in Ukraine ($WSJ)

U.S. OIL AND GAS drilling rigs fell by -7 last week to 753. The number of active rigs has fallen in five of the last eight weeks and is at the lowest since the start of July 2022. The upturn that started in August 2020 after the first wave of the pandemic has at least paused and possibly ended as drilling rates slide in response to lower oil and gas prices: