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Building The World’s Largest Solar Project
Building The World’s Largest Solar Project Saudi Arabia wants to pour $200 billion into solar to build the world’s largest solar project. The Saudi sovereign wealth fund and SoftBank Group Corp. of Japan jointly announced plans to build a solar project that is staggering in size – 200 gigawatts (GW) by 2030. That would be […]
Germany Approves Russia-Led Nord Stream 2 Gas Pipeline
Germany Approves Russia-Led Nord Stream 2 Gas Pipeline Germany approved on Tuesday the construction and operation of the Russia-led Nord Stream 2 gas pipeline in its territorial waters, thus issuing all necessary permits for the German section of the project that has torn Europe and EU member states over the implications of Russia’s gas giant […]
Why Natural Gas Prices Will Rise This Summer
Why Natural Gas Prices Will Rise This Summer Record production of natural gas is snuffing out any price rally that might have occurred from the bout of cold weather this winter. The gas market saw a jolt at the end of December and in early January due to extremely cold temperatures across much of the […]
OPEC Scrambles To Justify Output Cuts
OPEC Scrambles To Justify Output Cuts Oil inventories are approaching the five-year average level in OECD countries, the all-important threshold for “re-balancing” the oil market. A year and a half on from OPEC’s original deal to limit output, the surplus oil stashed in storage tanks around the world are nearly back to average levels. However, […]
Russia-Ukraine Gas Spat Highlights Geopolitical Divide
Russia-Ukraine Gas Spat Highlights Geopolitical Divide The latest gas dispute between Russia and Ukraine flared up just as most of Europe was gripped by Arctic cold and just before the spy poisoning scandal in which the UK accused Moscow of poisoning a former double agent in England by a military-grade nerve agent of a type […]
U.S. Rig Count Continues To Rise As Canadian Rig Count Plunges
U.S. Rig Count Continues To Rise As Canadian Rig Count Plunges Baker Hughes reported another 5-rig increase to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 995, which is an addition of 186 rigs year over year. The number of oil rigs in […]
The Death Of Traditional Power Grids
The Death Of Traditional Power Grids The problem with centralized power grids is that they can be crippled at just one point of failure, leaving consumers vulnerable to outages. According to Mark Feasel of Schneider Electric, the cost of such outages for the U.S economy overall is $150 billion a year. An irritating inconvenience for […]
Global C02 Emissions Rise For The First Time In 3 Years
Global C02 Emissions Rise For The First Time In 3 Years In a worrying development, global CO2 emissions from energy jumped by 1.4 percent in 2017, the first increase in three years. The trend indicates that global efforts to reduce emissions are “insufficient,” according to a new report from the International Energy Agency. Total energy-related […]
Oil Traders, Supermajors Diverge On Demand Forecasts
Oil Traders, Supermajors Diverge On Demand Forecasts The world’s oil supermajors and largest oil trading companies are not in agreement on the future trends in oil demand, a recent event has revealed. This, although normal, should serve as a signal to everyone watching the oil industry that any forecasts on supply and demand, regardless how […]
North Sea Oil Has Escaped Its Death Spiral
North Sea Oil Has Escaped Its Death Spiral The oil industry is expected to increase spending in the North Sea and the number of projects that could receive a greenlight is set to rise this year for the first time in half a decade. An estimated 12 to 16 green-and brown-field projects are expected to […]
Oil Prices Tear Higher On Middle East Tensions
Oil Prices Tear Higher On Middle East Tensions Oil prices rose on Tuesday ahead of the API data report, fueled by Middle East tensions and dwindling crude output in Venezuela. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) – U.S crude oil exports averaged 1.1 million barrels per day (mb/d) in […]
Natural Gas Is Under Attack
Natural Gas Is Under Attack Natural gas has been billed as the key “bridge fuel” that will help the energy transition, replacing coal while buying time for renewable energy to scale up. However, even as gas is triumphing over coal in the U.S., it is increasingly under attack by policymakers. Gas claims a carbon emissions […]
OPEC Doubles Down On Draining Oil Inventories
OPEC Doubles Down On Draining Oil Inventories Although the oil market has been improving, OPEC still has work to do to bring global oil inventories back to their five-year average—the metric that OPEC has vowed to achieve with the production cut deal, OPEC Secretary General Mohammad Barkindo said on Monday while on a visit to […]
Canada Is Facing A Heavy Crude Crisis
Canada Is Facing A Heavy Crude Crisis Canada’s benchmark heavy crude oil widened its discount to WTI to the largest in six trading sessions on Thursday, as additional storage capacity in Alberta and data about lower crude-by-rail shipments added concerns over the domestic oil glut, as TransCanada’s Keystone Pipeline has yet to return to normal […]
The Single Largest Supply Risk In Oil Markets
The Single Largest Supply Risk In Oil Markets Venezuela could be the reason that “tips the market decisively into deficit,” the International Energy Agency said in a new report. Venezuela lost another 60,000 barrels per day (bpd) in February, according to the Paris-based energy agency, and continues to present the largest supply risk to the […]
