Oil & Energy

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The Dominion Atlantic Coast natural gas pipeline is on schedule for late 2019 Dominion Energy said. The $5 billion pipleine runs from West Virginia to North Carolina. Yesterday FERC denied Dominion’s March 15 request for more time to cut trees.

The EIA Inventory report showed a build in crude stockpiles less than a larger API build. Gasoline showed a large draw, but at a lesser amount than API. Behind the storage noise is a shifting geopolitical risk matrix adding to uncertainty with Iran.

Just a day after China's Yuan priced oil futures began trading in Shanghai Unipec, the trading arm of Asia’s largest refiner Sinopec and oil major Royal Dutch Shell priced a Middle East crude contract with Shanghai crude futures.

China crude oil yuan denominated futures began trading at 9 a.m. local time on Monday March 26 on the Shanghai International Energy Exchange. September futures opened at 440 yuan a barrel. The market is open to foreigners.

Proven oil and gas reserves in Mexico are now down 40% in just 10 years, falling again this year by 7% as new discoveries fail to keep up with production. Reserves sat at 8.483 billion barrels at the end of 2018.

Crude prices and U.S. oil production keep rising with oil rigs gaining another 4 rigs this week to 804 oil rigs. This week's DoE Petroleum Status Report showed all time high oil output as worries of a trade war rings out.

The EIA reported a natural gas storage draw of - 86 Bcf right on expectations with continuing to listlessly drift lower.  With winter still hanging around up East it's a little late for the April contract. 

Oil prices continued to rise after a tighter EIA Inventory report, prices have had a bid since President Trump ousted Secretary of State Rex Tillerson with a shifting geopolitical risk matrix adding to uncertainty with Iran.

Australia is a nation of vast size with the majority of the population based on the east coast, in peak hour how do you maximise energy efficiency? The National Electricity Market using West Australian solar in peak times could power the East's peak loads.

Rigs actually fell a week ago but not this week back to 800 oil rigs. This week's DoE Petroleum Status Report showed the U.S. back pushing all time high oil production and again U.S. Oil Rig Count rose as worries of a trade war rings out. 

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