Week in Review: March 28th

These are the top articles circulating the Shale and Natural Gas industry for the week of March 28th.

Amid Coal Bankruptcies, Miners to Rally in Waynesburg for Benefits – Power Source
By Daniel Moore
Over 5,000 members of the United Mine Workers of America came to Waynesburg, PA to save pensions and healthcare programs for retiring miners. Financial burdens have swept the industry, forcing the annulment of union contracts. During bankruptcy procedures, judges may determine whether to uphold or annul former contract obligations.

BP Taking a Bet on China’s Shale Gas While Shell Backs Out – Bloomberg
By Aibing Guo
BP signed its first deal to manufacture natural gas in China on Friday, while Shell announced it will no longer be pursuing natural gas production in the region. International oil companies have been abandoning shale exploration in China due to difficult drilling conditions. BP hopes to break the tradition by splitting expenses and only contributing technical support, rather than ground workers.

Chevron Looks Into Its Crystal Ball and Sees a Big Future for Shale – The Motley Fool
By Christopher Malcolm
Chevron is looking to shift financing to more shale endeavors due to the lowering cost of production. The company will be increasing its budget for the shale industry by 25% in the next 2 years. Shale gas production is far cheaper and more accessible compared to Chevron’s past ventures, like deep sea drilling.

What Low Oil Prices Really Mean – Harvard Business Review
By Bernhard Hartmann and Saji Sam
For years, oil producers have tried to balance supply and demand, but it can take weeks to make the right calculations and adjustments. The Harvard Business Review says, low oil prices will become the new norm because of the shale industry. Not only has the U.S. grown its natural gas production, but China and Argentina have also leaped into the natural gas business. With more producers, analysts predict we could be looking at low oil prices for more than a decade.

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