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    EPRINC Releases Report on Mexico’s Petroleum Future

    The energy reform measures implemented in Mexico over the last few years, also known as the New Energy Model, offer considerable potential to lift oil and gas production, increase employment and deliver technological advances, and crucially additional revenues for federal, state, and local governments. These reforms, if fully implemented, will also enhance long-term energy security for Mexico and North America. Energy reform in Mexico is contributing to the likelihood that North America will become a sustained net exporter to world markets in both petroleum (crude oil and refined products) and natural gas in the coming years. In a just-released EPRINC assessment, Michael Lynch, EPRINC Distinguished Fellow, presents his findings on the economic value to Mexico of the energy reforms in the petroleum sector. A link to the full report can be found here. A Spanish translation of the report will be posted on the EPRINC’s website in early January 2019.

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    The Permian Basin Produces Gas, Too

    This report by EPRINC Non-Resident Fellow Trisha Curtis is part of the Energy Policy Research Foundation’s multi-year research program evaluating the scale and scope of the North American petroleum renaissance. As U.S. producers expand production to meet domestic requirements and the rapidly growing market for pipeline exports and Liquefied Natural Gas (LNG), it is essential that policy makers have a full understanding of the sustainability of the U.S. natural gas production platform. This report addresses the range of challenges and opportunities for expanding U.S. production of natural gas for both domestic uses and export markets through an in depth look at North America’s most prolific oil and gas basin, the Permian. The report can be found here.

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    Hedging Haircuts and Big Basis Moves

    EPRINC trustee Ben Montalbano and non-Resident Fellow Trisha Curtis, both co-founders of PetroNerds, have just completed an assessment of oil hedging positions of 25 major oil producers in the Permian Basin.  Hedging is a valuable tool for distributing risk and allowing producers to protect revenue streams from price volatility. Hedges protect producers revenues when oil prices fall, but also limit gains when prices rise.  In addition, when oil prices rise it may limit the supply response if a large volume of unconventional production is hedged. Ben and Trisha’s assessment shows the percent of total production that producers hedge varies, but heading into Q1of 2018 producers hedged about 20% of total output. A copy of their assessment can be found here.

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    Advances in Well Completion Design Sustain Advances in Shale Oil Productivity

    EPRINC Non-Resident Fellow Trisha Curtis and Trustee Ben Montalbano build on some of their previous work concerning US shale productivity in their recent paper entitled “Completion Design and the Impact on US Shale Well Productivity.”They identify the factors contributing to sustained productivity growth in several US shale plays and examine some of the economic constraints facing well efficiency. As the nation adjusts to relatively stable and depressed oil and gas prices, Trisha and Ben’s paper outlines the current industry environment and highlights future challenges to increasing shale productivity. Their paper can be downloaded by clicking here.

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    EPRINC’s Max Pyziur Presents at the annual Energy Information Administration (EIA) Conference
    Max takes us through the role octane has played to meet both engine performance requirements as well as its growing role as a strategy to meet the regulatory requirements of Corporate Average Fuel Economy (CAFE) standards.  As is always the case when it comes to fuel specifications and engine performance, it is complicated. Max outlines the historical trends and the trade-offs ahead.  The event took place on June 26, 2017 in Washington, DC. The presentation can be found here.
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EPRINC Publication “China’s Search for Blue Skies” Highlights Growing Demand for LNG

Driven by a growing political requirement to fight air pollution, record growth has been recorded in natural gas demand in China over the past decade. China surpassed South Korea as the second largest LNG importer in 2017 and is projected to surpass Japan as the world’s largest natural gas importer in 2019.  The massive scale of the Chinese energy sector matters; a small change in the Chinese natural gas demand can lead to an oversized impact on global markets. As part of EPRINC’s ongoing assessment on the future role on LNG in Asia, this publication evaluates market and policy trends placing China in a central role as the driver of world LNG demand growth. The report can be found here.  A translation of the executive summary in Chinese can be found here.

 

EPRINC Holds Workshop on U.S. Transportation Fuels Policy

On February 20th, 2019, EPRINC hosted a workshop on U.S. Transportation Fuels Policy at the Willard InterContinental Hotel in Washington, D.C. The workshop brought together experts, industry representatives, and stakeholders to compare notes and share perspectives on the future of U.S. transportation fuels policies A brief description of the event is below, and a copy of the agenda and EPRINC’s recent paper on the RFS can be found at the bottom of this post. Also, the presentations from the event can be found here.

Since the end of WW II, U.S. policies and regulatory programs regarding transportation fuels have addressed central concerns about the safety of production, distribution, and use by consumers, energy security, and the environment. Environmental regulations have largely focused on air quality and more recently, carbon emissions. Automobile manufacturers have had to comply with a variety of increasingly stringent Federal and State requirements to meet reduced tailpipe emissions and improve fuel economy. CAFE (Corporate Average Fuel Economy) regulations were enacted in the 1970s to require higher fuel efficiency in motor vehicles. Beginning in 2005 through the passage of the RFS (Renewable Fuel Standard), increasing volumes of biofuel blending has been mandated. New regulations are also coming into force to regulate sulfur content in fuels for shipping vessels under international agreements managed by the International Maritime Organization (IMO). This EPRINC workshop covers these issues by having four panels, on the following topics: policy challenges facing CAFE regulations, risks and realities of electric and automated vehicles, the future of the RFS and the potential for a grand compromise, and implications of IMO regulations for bunker fuel costs and availability.

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EPRINC Publica Su Informe Sobre el Futuro del Petróleo en México

Las acciones derivadas de la reforma energética que se han implementado en México en los últimos años ofrecen un potencial considerable para elevar la producción de petróleo y gas del país, así como incrementar el empleo, permitir la transferencia de avances tecnológicos y también, ingresos adicionales para el Estado mexicano a nivel federal, estatal y local.

Si la reforma se logra implementar adecuadamente, va a contribuir a largo plazo a la seguridad energética de México y Norteamérica. Es muy probable que la reforma energética en México contribuya a que Norteamérica se convierta en un exportador neto de petróleo y gas natural al mercado mundial en los próximos años.

En una reciente evaluación, Michael Lynch, un distinguido colaborador de EPRINC, presenta los resultados y conclusiones de su análisis sobre el valor económico que aporta la reforma energética a México en el sector petrolero. El reporte completo puede leerse aquí. La traducción al español del estudio completo será publicada en el portal web de EPRINC en enero de 2019.

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EPRINC Releases Report on Mexico’s Petroleum Future

The energy reform measures implemented in Mexico over the last few years, also known as the New Energy Model, offer considerable potential to lift oil and gas production, increase employment and deliver technological advances, and crucially additional revenues for federal, state, and local governments. These reforms, if fully implemented, will also enhance long-term energy security for Mexico and North America. Energy reform in Mexico is contributing to the likelihood that North America will become a sustained net exporter to world markets in both petroleum (crude oil and refined products) and natural gas in the coming years. In a just-released EPRINC assessment, Michael Lynch, EPRINC Distinguished Fellow, presents his findings on the economic value to Mexico of the energy reforms in the petroleum sector. A link to the full report can be found here. A Spanish translation of the report will be posted on the EPRINC’s website in early January 2019.

Screenshot 2019-01-02 15.13.04

The Permian Basin Produces Gas, Too

This report by EPRINC Non-Resident Fellow Trisha Curtis is part of the Energy Policy Research Foundation’s multi-year research program evaluating the scale and scope of the North American petroleum renaissance. As U.S. producers expand production to meet domestic requirements and the rapidly growing market for pipeline exports and Liquefied Natural Gas (LNG), it is essential that policy makers have a full understanding of the sustainability of the U.S. natural gas production platform. This report addresses the range of challenges and opportunities for expanding U.S. production of natural gas for both domestic uses and export markets through an in depth look at North America’s most prolific oil and gas basin, the Permian. The report can be found here.

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