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Europe Needs Nord Stream 2 More Than It Likes To Admit
Europe Needs Nord Stream 2 More Than It Likes To Admit When construction began on the second Nord Stream pipeline that was going to double the volume of natural gas ships to Europe—most of it to Germany—the European Union wasted no time in voicing its opposition to more Russian gas. Led by Ukraine, which fears […]
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 […]
Iran’s Huge Caspian Gas Find Is A Geopolitical Gamechanger
Iran’s Huge Caspian Gas Find Is A Geopolitical Gamechanger Iran last week revealed a huge new gas deposit located in the Iranian sector of the Caspian Sea. The ‘Chalous’ structure is to be developed with the intention of forming a new gas hub in northern Iran to complement the southern gas hub centred on the […]
Renewables Need Big Oil To Thrive
Renewables Need Big Oil To Thrive We need the expertise, experience, and financial backing of Big Oil to drive wind energy forward in the U.S., following years of strong investments from oil firms across the country kickstarting the industry. As activists and international agencies continue to criticize Big Oil for its role in climate change and […]
Why Norway Won’t Give Up On Oil & Gas
Why Norway Won’t Give Up On Oil & Gas Norway doesn’t have any second thoughts about oil exploration and investment in light of the International Energy Agency’s (IEA) report suggesting that no new fossil fuel exploration would be needed for a net-zero world. Western Europe’s biggest oil and gas producer is doubling down on oil […]
Iran Opens Export Terminal To Bypass World’s Biggest Oil Chokepoint
Iran Opens Export Terminal To Bypass World’s Biggest Oil Chokepoint Iran says it has opened its first oil export terminal in the Gulf of Oman to allow Tehran to avoid using the strategic Strait of Hormuz shipping route that has long been a focus of regional tensions. “Today, the first shipment of 100 tons of […]
Biomass: The EU’s Great ‘Clean Energy’ Fraud
Biomass: The EU’s Great ‘Clean Energy’ Fraud “The professionalization of the biomass industry is a problem that needs attention.”–Bas Eickhout, Dutch politician and member of the European Parliament. When it comes to the global shift to low-carbon energy sources, Europe has traditionally been viewed as the world leader while the United States has frequently been […]
World’s Recoverable Oil Resources Shrinks By 9%
World’s Recoverable Oil Resources Shrinks By 9% Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the world’s energy landscape changed last year. Our 2021 review deals a major blow for the size of the world’s remaining […]
Yellen Urges Development Banks To Stop Fossil Fuel Funding
Yellen Urges Development Banks To Stop Fossil Fuel Funding U.S. Treasury Secretary Janet Yellen is prepared to gather together the heads of development banks to persuade them to stop fossil fuel project funding, according to Bloomberg. The Treasury Secretary intends to “articulate our expectations that the MDBs align their portfolios with the Paris Agreement and net-zero […]
European Bank For Reconstruction And Development Ends All Upstream Oil Financing
European Bank For Reconstruction And Development Ends All Upstream Oil Financing The European Bank for Reconstruction and Development (EBRD) will no longer invest in oil and gas exploration and production, the bank’s Managing Director Harry Boyd-Carpenter told Reuters as the institution pledged to align all its activities to the Paris Agreement goals from the end of next […]
Oil Prices Set To Head Even Higher As Market Tightens
Oil Prices Set To Head Even Higher As Market Tightens Solid oil demand is driving up the spot crude prices in every part of the world. This is a clear indication that the physical oil market is finally catching up with the recent rally in the paper market. The strengthening appetite for crude in Asia […]
How Much Oil Can Saudi Arabia Really Produce?
How Much Oil Can Saudi Arabia Really Produce? For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation from the Saudis over precisely what these numbers are. The reason for obfuscation is that Saudi Arabia’s […]
The Unmistakable Impact Of The IEA’s ‘Fantasy’ Report
The Unmistakable Impact Of The IEA’s ‘Fantasy’ Report In an effort to adapt to Trudeau’s recent green policies and owing to pressure from the International Energy Agency (IEA), Canadian oil sand producers have formed an alliance to achieve net-zero emissions by 2050. This would see a huge shift from current practices as, at present, oil sands […]
Depleted Gas Stocks Force Europe To Use More Coal
Depleted Gas Stocks Force Europe To Use More Coal With power demand recovering from the pandemic, European utilities are using more coal as natural gas inventories are unusually low for this time of the year due to a cold snap in late winter and early spring. This year, despite the record-high carbon price in Europe, […]
It’s Too Late To Avoid A Major Oil Supply Crisis
It’s Too Late To Avoid A Major Oil Supply Crisis There are a number of observable trends in oil supplies and by extension prices, presently. I am going to discuss one of them in this article. A lack of capital investment in finding new supplies of oil and gas. A favorite analogy of mine comes […]
