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Coal Generation In UK Jumps As Wind Speed Drops
Coal Generation In UK Jumps As Wind Speed Drops Coal met some 3 percent of the UK’s electricity demand on Friday morning, reaching its highest level of Britain’s power generation in one month, amid lower wind speeds this week and an outage at a gas-powered plant, Bloomberg reports. The last time the UK generated 3 percent […]
Gazprom: We’re Not Withholding Gas To Europe
Gazprom: We’re Not Withholding Gas To Europe Russian gas giant Gazprom dismisses speculation and accusations that it is not supplying enough natural gas via pipeline to Europe, a senior official at Gazprom Export says. So far in 2021, Gazprom’s gas deliveries to Europe have reached historic highs, Sergey Komlev, Head of the Contract Structuring and […]
Aramco On Lockdown After Houthi Missile Attack
Aramco On Lockdown After Houthi Missile Attack Saudi Arabia had intercepted a ballistic missile attack on facilities owned by state oil major Aramco in the Eastern Region, Reuters has reported, citing the Saudi defense ministry. Earlier reports said Aramco facilities in Dharan had gone on lockdown because of a suspected attack. The Iran-affiliated Yemeni Houthi group claimed […]
U.S. Energy Production Saw Steepest Drop On Record In 2020
U.S. Energy Production Saw Steepest Drop On Record In 2020 Due to economic responses to the pandemic, U.S. energy production dropped by 5 percent last year, marking the steepest annual decline on record, the U.S. Energy Information Administration (EIA) said on Thursday. Last year, energy production in the United States fell to just below 96 quadrillion British […]
Nuclear Reactions At Chernobyl “Cause for Concern”
Nuclear Reactions At Chernobyl “Cause for Concern” Sensors have detected increased levels of neutrons in an inaccessible chamber at the Chernobyl site, signaling that nuclear fission reactions are taking place in the entombed reactor hall, Science reports. The signs that fission reactions are occurring come 35 years nearly to the date when the Chernobyl nuclear power […]
China Restricts Electricity Use Amid Coal Shortage
China Restricts Electricity Use Amid Coal Shortage Despite the swift industrial recovery from the pandemic, factories in areas in China are working only part-time, and residents in several provinces are asked to save electricity, while authorities are turning off street lights and billboards, warning of coal shortages this winter. In at least three provinces in […]
The Most Dramatic Year In The History Of Oil
The Most Dramatic Year In The History Of Oil There are very few industries in the world that have been hit as hard or are set to face as many consequences as the oil and gas industry in 2020. In a recent report, Fitch Ratings forecast that oil and gas exploration and production companies would lose […]
Can U.S. Shale Add 1 Million Bpd In 2017?
Can U.S. Shale Add 1 Million Bpd In 2017? Oil prices are up on expectations that OPEC will contribute to a faster balancing in 2017, with up to 1.8 million barrels per day in cuts along with some non-OPEC countries. That has put a floor beneath prices, with fears of another downturn largely dissolved after […]
China Stockpiling Oil At Highest Rate In Over A Decade
China Stockpiling Oil At Highest Rate In Over A Decade China might be in the midst of another round of stockpiling, stepping up crude oil imports to fill its strategic petroleum reserve (SPR). The slowdown in oil demand in China is one of the chief concerns regarding the state of oversupply in global oil markets. […]
End Of An Era: Peabody Declares Bankruptcy
End Of An Era: Peabody Declares Bankruptcy In a sign of the times, the world’s largest private sector coal miner just went bankrupt. The St. Louis-based Peabody Energy Corp. warned a month ago that it was considering filing for Chapter 11 bankruptcy, and on Wednesday they made it official. Peabody’s mines will continue to operate uninterrupted […]
Export Ban, And Exports Went…Down
Export Ban, And Exports Went…Down Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before, when the ban was still in place. According to Clipper Data market intelligence cited by the Financial Times, […]
Gulf States Not Willing To Cut Production Despite Asset Depletion
Gulf States Not Willing To Cut Production Despite Asset Depletion The oil exporting countries of the Gulf Cooperation Council (GCC) are likely to report twin deficits due to the downturn in oil prices and a supply glut that could expand, but even as assets are being depleted at an alarming rate none is in enough trouble to […]
UAE Offers India Free Oil To Ease Storage Woes
UAE Offers India Free Oil To Ease Storage Woes In an oil sector first, the oil-rich United Arab Emirates (UAE) has offered free oil to India in return for a storage deal at India’s planned underground facility as the supply glut worsens and some analysts predict that ‘’peak storage” could sending prices crashing further. The […]
Iran Signs Oil Deal With Total, Deal Done In Euros
Iran Signs Oil Deal With Total, Deal Done In Euros As Airbus and Peugeot finally return to post-sanctions Iran, the trade-off is Iranian oil, with French Total SA taking the plunge in an agreement to buy up to 200,000 barrels per day of Iranian crude–but the catch is that sales will be in euros. Deals signed […]
