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Canada, The Unexpected Winner in the Global Oil Boom
Canada, The Unexpected Winner in the Global Oil Boom The Trans Mountain Expansion Project, now finally completed and operational after years of delays, is changing the fortunes of the oil sands. Canada’s oil sands producers have started ramping up production last year in anticipation of the start-up of exports through the TMX pipeline. The production […]
Russia Discovers Massive Oil and Gas Reserves in British Antarctic Territory
Russia Discovers Massive Oil and Gas Reserves in British Antarctic Territory Russia’s Rosgeo uncovered oil and gas reserves in British Antarctic territory, estimated at around 511 billion barrels. The discovery poses environmental risks and challenges the 1959 Antarctic Treaty, which prohibits oil developments in the region. Geopolitical tensions rise as Russia’s activities in Antarctica are […]
Is China’s Oil Demand Set For A Major Bounce Back?
Is China’s Oil Demand Set For A Major Bounce Back? China’s extraordinary economic expansion almost singlehandedly drove a supercycle in key commodities since the mid-90s. This robust performance across several major sectors in China’s economy is in sharp contrast to the growth drivers seen last year. China continues to buy oil from Russia and Iran […]
The Cold Hard Truth About Renewable Energy Adoption
The Cold Hard Truth About Renewable Energy Adoption The energy transition is essential but complex and challenging. The pace of the transition and the balance between future and current energy security are key issues. Economic and logistical barriers, as well as geopolitical and environmental concerns, need to be addressed for a successful transition. The future […]
The Permian Shrugs Off Below-Zero Natural Gas Prices in Texas
The Permian Shrugs Off Below-Zero Natural Gas Prices in Texas Natural gas prices at the Waha hub slumped to a negative value of -$2.00 per MMBtu in April. Major pipeline operators in the Permian basin haven’t yet seen any effect of the negative gas prices at the Waha hub in West Texas on activity. In […]
Ukrainian Drones Hit Major Rosneft Refinery in Russia
Ukrainian Drones Hit Major Rosneft Refinery in Russia Just as Russia had started to bring back some refinery capacity damaged by Ukrainian drone attacks earlier this year, a new wave of drone attacks hit a major refinery owned by Rosneft, for a second time. Rosneft’s Ryazan refinery southeast of Moscow caught fire after the overnight […]
The Four Key Reasons Why The U.S. Will Never Stop Targeting Russia’s LNG Sector
The Four Key Reasons Why The U.S. Will Never Stop Targeting Russia’s LNG Sector LNG has become the most important swing energy source in an increasingly insecure world. Energy exports remain the foundation stone of Russia’s essentially petro-economy. Russia’s LNG industry is closely associated in Russia with President Vladimir Putin personally. Perhaps even more than […]
Kazakhstan’s Oil Flows to Germany Threatened as Russia Demands Transit Fees
Kazakhstan’s Oil Flows to Germany Threatened as Russia Demands Transit Fees Russian pipeline operator Transneft has warned Kazakhstan’s oil companies that ship crude to Germany via Transneft’s Druzhba pipeline that the customers of the Kazakh firms have until June to pay for metering services or risk a halt to supplies, trading sources told Reuters on Thursday. In […]
EU Prepares to Tighten Screws on Russian LNG Imports
EU Prepares to Tighten Screws on Russian LNG Imports In a move that could reshape Europe’s energy landscape, the European Commission is poised to propose new sanctions targeting Russian liquefied natural gas (LNG) imports. According to Reuters sources close to the matter, the proposed measures will include a ban on shipments within the EU and […]
Russia Is Struggling to Repair Refineries Due to Sanctions
Russia Is Struggling to Repair Refineries Due to Sanctions Due to the sanctions, Russia cannot access spare parts from Western engineering companies that have provided refinery equipment in the past, leaving Russian refiners struggling to repair damaged units, multiple industry sources in Russia have told Reuters. Western firms including America’s UOP and Swiss ABB have supplied […]
Exxon Threatens to Take Billions of Dollars in Climate Investment Out of the EU
Exxon Threatens to Take Billions of Dollars in Climate Investment Out of the EU Exxon has warned the European Union that it will leave and take billions of dollars in climate investment with it unless Brussels makes it easier to spend those billions on transition-related projects. The Financial Times cited the company today as saying that there […]
China’s Coal Production Hit a New Record High in 2023
China’s Coal Production Hit a New Record High in 2023 Higher power demand and efforts to boost energy security pushed China’s coal production to a record-high level in 2023, according to official statistics data published on Wednesday. Chinese coal output rose by 2.9% year-over-year to 4.66 billion metric tons in 2023, per data from China’s […]
Occidental’s CEO Sees Oil Supply Crunch from 2025
Occidental’s CEO Sees Oil Supply Crunch from 2025 The ratio of discovered resources versus demand has dropped in recent decades and is now at around 25%. Oxy CEO Hollub: “2025 and beyond is when the world is going to be short of oil.”. Oil industry executives have been warning that new resources, new investments, and […]
Watchdog Has Grim Winter Warning: There May Be Blackouts
Watchdog Has Grim Winter Warning: There May Be Blackouts North American Reliability Corp: As much as two-thirds of the United States could experience blackouts in peak winter weather. Earlier this year, NERC issued a blackout warning for some parts of the U.S. over the summer, citing extreme temperatures. The regulator points to the lack of […]
The New Global Oil Market Order Hangs In The Balance After Hamas Attacks Israel
The New Global Oil Market Order Hangs In The Balance After Hamas Attacks Israel Palestinian political and military organisation Hamas launched coordinated multi-pronged attacks by land, sea, and air against Israel last weekend. The potential for the Hamas attacks on Israel to suck in other Arab states into the conflict, and for it to then […]
