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Oil Exploration Grows But Discovered Volumes Fall To New Lows
Oil Exploration Grows But Discovered Volumes Fall To New Lows Rystad: in the first half of 2023, explorers found 2.6 billion barrels of oil equivalent. The exploration and production (E&P) industry is in a transitionary period, with many companies exercising increased caution and shifting their strategies to target more profitable and geologically better-understood regions. In […]
Desertification: An Existential Crisis For Iran
Desertification: An Existential Crisis For Iran Iran is grappling with severe desertification and water scarcity, leading to potentially uninhabitable territories, contributing to internal migration and posing a threat of mass exodus. Tehran’s attempts to mitigate water scarcity have led to dam-building and water-intensive irrigation projects that have contributed to the drying up of rivers and […]
China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023
China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023 In the first half of 2023, China imported 2.13 million barrels per day of Russian crude oil, making Russia its single biggest supplier. In June, China once again imported record-breaking levels of Russian crude, a 44% increase compared to the same […]
UK Looks To Boost Energy Security With Small Modular Nuclear Reactors
UK Looks To Boost Energy Security With Small Modular Nuclear Reactors The UK has launched a competition for small modular reactor technology and created a new nuclear body. The focus on small nuclear reactors is part of the country’s efforts to produce more zero-emission energy domestically. As well as backing SMRs, the UK remains committed […]
Exxon CEO Warns Overemphasis On Renewables Could Backfire
Exxon CEO Warns Overemphasis On Renewables Could Backfire Exxon Mobil Corp. (NYSE:XOM) CEO Darren Woods has urged companies to stop focusing on certain energy sources, such as renewable energy, to save the climate, warning that it would be a “huge mistake to be picking winners and losers and focusing on specific technologies”. Instead, “we need to look more […]
Labor Leader’s Oil Plans Spark Outrage In Scotland
Labor Leader’s Oil Plans Spark Outrage In Scotland Labour leader Starmer said that his party would end oil and gas investment in the UK North Sea. Scottish politicians called the plan a ‘job destroyer’. Energy security could be at risk if the UK actually bans new upstream investment in the North Sea. In January this […]
Europe’s Energy Troubles Continue: Hydro And Nuclear Output Declining
Europe’s Energy Troubles Continue: Hydro And Nuclear Output Declining Europe’s hydro and nuclear output is declining, leading to mopre energy troubles. Renewables are struggling to fill the gap as wind and solar output increase. The EU may require increased LNG imports from the US to meet energy demands. Last year, Europe was on the brink […]
MIT Study: Nuclear Power Shutdown Could Lead To Increased Deaths
MIT Study: Nuclear Power Shutdown Could Lead To Increased Deaths A new MIT study indicates that retiring U.S. nuclear power plants could lead to an increase in burning fossil fuels to fill the energy gap, resulting in over 5,000 premature deaths due to increased air pollution. Nearly 20 percent of current electricity in the U.S. […]
EU Members Clash Over Nuclear Energy’s Role In Climate Policy
EU Members Clash Over Nuclear Energy’s Role In Climate Policy The EU is in the process of expanding its renewable energy targets to reduce CO2 emissions. Countries are divided over whether nuclear energy should be considered a part of renewable energy targets. France leads the campaign to recognize nuclear energy as a CO2-free contributor, while […]
OPEC Output Drops As Saudi Production Falls By 156,000 Bpd
OPEC Output Drops As Saudi Production Falls By 156,000 Bpd By Charles Kennedy – Feb 14, 2023, 9:30 AM CST Crude oil production from all 13 OPEC members slid by 49,000 barrels per day (bpd) in January from December as top producer Saudi Arabia slashed output by 156,000 bpd, OPEC’s latest Monthly Oil Market Report (MOMR) showed on Tuesday. […]
European Natural Gas Prices Surge Ahead Of Cold Spell
European Natural Gas Prices Surge Ahead Of Cold Spell The Dutch TTF benchmark price jumped by 11% on Tuesday morning, recovering from a 17% price slump last week. An unplanned outage at a Norwegian gas processing plan and short covering combined to add upward pressure to gas prices. Next week, temperatures could be lower than […]
South Africa’s Energy Crisis Could Spark A Political And Economic Disaster
South Africa’s Energy Crisis Could Spark A Political And Economic Disaster Eskom is operating at 50% capacity with rolling blackouts that are causing civil unrest and economic hardship. An international aid package worth $8.5 billion is being put together by the U.S. and Europe to help fund South Africa’s green energy transition. The dismal track […]
Soaring Food Prices Prompt Eurasian Nations To Ban Food Exports
Soaring Food Prices Prompt Eurasian Nations To Ban Food Exports The harshest winter since 2008 is contributing to shortages of staple vegetables across Central Asia and sending prices north in a region still suffering from COVID-induced food inflation. In Uzbekistan, record frosts have highlighted the shortcomings of the national energy system as even residents of the capital […]
Europe’s Energy Crisis Leaves Almost All Of Pakistan Without Power
Europe’s Energy Crisis Leaves Almost All Of Pakistan Without Power Pakistan faced an almost nationwide power outage on Monday. A significant energy shortage is one of the main drivers of the nation’s current economic crisis. The energy crisis in Europe has made Pakistan vulnerable to high fuel prices. The long-awaited winter energy crisis has finally […]
