Low oil prices will test US oil industry revival
Cheaper energy prices will slow but not stop the American oil and gas revolution
Sometime in December if all goes to plan a vessel carrying liquefied gas will leave Louisiana, destination as yet unknown. The test cargo, from a converted plant at Sabine Pass, will mark the start-up of LNG exports from the lower 48 – and confirm the most remarkable turnaround the oil and gas industry has seen in decades.By now, everyone is familiar with the upheaval seen in US energy in the past decade, but the bare facts are worth stating. Ten years ago, a natural gas supply crunch was imminent, prompting legislation to speed construction of dozens of new LNG import terminals. Domestic oil supply was dwindling and demand had reached a record high. In 2005, Americans were buying almost alm
Also in this section
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
14 May 2024
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
14 May 2024
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy