MIDSTREAM & MORE:
Tulsa Heaters Midstream is focused on providing useful and informative content to our customers, suppliers, and anyone else that wants to follow along. Each Wednesday, we will post links to interesting articles from around the web relating to the midstream oil and gas industry and more. Posts could include articles that talk about one or more aspects of the industry, including:
- State of oil and gas industry/pricing
- Oil and gas companies and their businesses
- Major news releases
- Gas processing plants
- Pipeline/infrastructure projects
- Many others
WEDNESDAY, MARCH 2, 2016:
I feel like I just keep repeating myself with the blog, but it is just that time of year (I hope). This past week saw similar themes, with more 2016 plans coming out. Most of what we have looked at here on the blog recently has been focused on the US, but the downturn is definitely hitting everyone just as hard. Several international companies (large ones) are pulling back on investments and people in 2016:
- Petronas slashes budget by billions
- Petrobras to cut more rig counts
- Pemex cuts 2016 budget by $5.5 billion
There were still more companies close to home with updated reports:
As for market sentiment? It didn't start that well when natural gas prices fell to 17-year lows this last week. There are a lot of factors behind the natural gas plunge, but as we have read already, the general opinion is that things will begin to correct themselves in the next couple of months. A good article related to this from the last week from Wood Mackenzie on how crude oil pricing affects midstream gas investments.
Also this week, another good article from Art Berman, posted on Forbes, about the relationship between oil prices and the storage supply in Cushing.
That's it for this week. Make sure to tune into the blog all this month as we talk about hot oil heaters. At the end of the month we are also going to be providing a nice resource related to thermal fluids used in hot oil heaters. So make sure to check it out!
CONCLUSION:
Tune in next week (same bat time, same bat channel) to see what else we have dug up from across the web.
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Legal note: The views expressed in the linked content does not reflect the views of THM or its employees.