What Is Holding Renewable Energy Back?
Bloomberg is now reporting that solar energy is cheaper than coal, and could become the lowest form of energy within a decade. Economies of scale are causing solar to drop Continue Reading
Peak Uranium: the uncertain future of nuclear energy
Peak Uranium: the uncertain future of nuclear energy Alice Friedmann recently posted on her blog “Energy Skeptic” a summary of the discussion on nuclear energy from my book “ Extracted Continue Reading
Five Energy Predictions For 2017
I read an article this morning where one analyst predicted that we are in a 10-15 year bear market for oil. The analyst stated that the market is oversupplied by Continue Reading
Oil Slips as Market Keeps Watch on Production Pledges
Crude oil prices ended the week lower, with all eyes on the extent to which pledges on production cuts are being met. U.S. crude for February delivery settled down 64 Continue Reading
Oil Caps Worst Week Since November With All Eyes on OPEC Cuts
Oil posted the biggest weekly decline since November as traders await proof that OPEC and other producers are following through on promises to cut production. Futures declined 1.2 percent in Continue Reading
‘Significant’ oil supply-demand gap possible in three to four years: IEA’s Birol
Oil price volatility is here to stay, notwithstanding recent producer pledges of output cuts aimed at calming the international market, the executive director of the International Energy Agency said Friday. Continue Reading
Should the US Cut Oil Production in Line With OPEC, NOPEC?
OPEC’s subtle message that the US should join its production cut pledge with other non-OPEC nations – in the interest of global market stability – is unlikely to get an Continue Reading
OPEC questions take wind out of oil rally’s sails
Doubts about whether all parties to an OPEC-led agreement to cut production will do enough to balance markets pushed oil prices lower early Friday. Saudi Arabia, the de facto leader Continue Reading
OPEC: 50% Compliance To Output Deal Is ‘Enough’
Just two weeks into the OPEC supply-cut deal and a day after Saudi Arabia signaled that it had cut more than pledged, the cartel itself does not see more than Continue Reading
Oil steady as Saudi Arabia says has cut output, but oversupply worries linger
Oil prices were steady on Friday, supported by reports on details of OPEC output cuts, although lingering doubts over producer compliance with supply reduction targets weighed on the market. U.S. Continue Reading
Milestone reached for Kashagan oil field
More than 7 million barrels of oil produced and exported from the Kashagan oil field off the coast of Kazakhstan since late 2016. Photo courtesy of the North Caspian Operating Continue Reading
Pemex Is So Cash-Starved It’s Selling a Little League Baseball Field
Pemex has put a kids’ recreation park up for sale as it combs through its assets searching for property it can exchange for needed cash. Mexico’s state-run oil company, which Continue Reading
Exclusive: Venezuela’s PDVSA sees 2017 oil output stuck near historic lows – document
The logo of the Venezuelan state oil company PDVSA is seen at a gas station in Caracas, Venezuela January 11, 2017. REUTERS/Marco Bello Venezuelan state energy company PDVSA projects oil Continue Reading
China Commodities Juggernaut Rolls Into 2017 as Records Tumble
The appetite for raw materials in the world’s biggest consumer keeps getting bigger. China’s imports of crude oil and iron ore rose to records in 2016, while coal buying expanded Continue Reading
New offshore oil production starts in China
A Chinese oil company said Friday it started production at an oil field off the northern coast of China that has 57 planned production wells. China National Offshore Oil Corp. Continue Reading
Peak oil in the South China Sea
China’s crude oil production has apparently peaked and is back to where it was at the beginning of 2010. Fig 1: China’s crude oil production http://www.jodidb.org/ Vietnam has become a Continue Reading
Anadarko sells off Eagle Ford shale assets
Parts of the shale basin in oil-rich Texas will be left behind in order to focus more on deepwater and other assets, Anadarko Petroleum announced. The company said it agreed Continue Reading
Canada Needs to Phase Out Oil Sands, Prime Minister Says
Canadian Prime Minister Justin Trudeau sparked anger in the oil-rich province of Alberta on Friday for saying Canada needs to phase out the oil sands. Mr. Trudeau told a town-hall Continue Reading
U.S. Oil Rig Count Falls By Seven, Baker Hughes Says
The number of rigs drilling for oil in the U.S. fell by seven in the past week to 522, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig Continue Reading
Expert Commentary: Flood Of Imported Crude Caps Oil Prices
– In recent notes we’ve cited output gains in Libya, stubbornly high Cushing inventories and OPEC skepticism as the key bearish culprits keeping a lid on an otherwise tightening crude Continue Reading
U.S. Oil Rig Count Falls For The First Time In 12 Weeks
The number of active oil and gas rigs in the United States dipped on Friday by 6 for a total of 659 active rigs, according to oilfield services provider Baker Continue Reading
New Data Points To Rebound In Offshore Oil
Here’s one of the most important charts we might see in oil and gas this year. New this week from industry watchdog Wood Mackenzie — showing how many offshore petroleum Continue Reading
Warm winter weather in US withering CAPP coal enthusiasm
The optimism prevalent through the US Central Appalachian coal industry heading into the New Year has started to temper as an expected cold January has failed to materialize. While thermometers Continue Reading
Canadian drillers add most oil rigs in two years: Baker Hughes
Energy firms in Canada more than doubled the number of rigs drilling for oil this week to the highest level in almost two years as producers returned en masse from Continue Reading
Kicking The Crude Habit Doesn’t Come Cheap for Richest Scandinavians
Government plans to diversify the economy come under fire Reducing Norway’s oil dependency and living up to campaign promises is proving a costly affair for Prime Minister Erna Solberg. With Continue Reading
Bone-Chilling Winter From Berlin to Davos Causes Energy Scramble
From the rivers criss-crossing eastern Europe to the Mediterranean ports of Greece and France, everyone is hunting for energy supplies. Blizzards, gale force winds, arctic temperatures and river ice thicker Continue Reading
IMF: Oil-rich Russia needs either-or economic policies
Russia needs to ensure its economy is braced for an oil shock in either positive or negative terms, a deputy at the International Monetary Fund said. Russia is party to Continue Reading
Despite the Hype, Batteries Aren’t the Cheapest Way to Store Energy on the Grid
There are many different kinds of energy storage technologies, each with its own advantages and drawbacks. Lithium ion batteries are the most popular form of storage at the moment, but Continue Reading
Oil prices dip on doubts over planned crude output cuts
Oil dipped on lingering doubts that crude production cuts would go deep enough to curb a global fuel supply glut, with sentiment worsened by concerns over the health of the Continue Reading
EIA: Brent Prices To Average $53 In 2017
As a result of rising oil prices in December, the U.S. Energy Information Administration has increased its forecast for both Brent and WTI crude oil prices by $2, and now Continue Reading
Oil Ticks Higher on Faith in Production Cuts
Crude oil prices edged upward on Thursday with stronger-than-expected growth in U.S. crude and distillate stocks offset by evidence of supply cuts from major producers including Saudi Arabia. Brent crude, Continue Reading
Oil Holds Biggest Gain in 6 Weeks on Record U.S. Refinery Runs
Oil held gains after advancing the most in almost six weeks as U.S. refiners processed a record amount of crude, while OPEC and other producing nations trim output to stabilize Continue Reading
OPEC deal holding, though look out for U.S. oil
A survey of production data from OPEC shows evidence of a managed decline, but the durability of that trend is a critical question, a survey found. A survey of December Continue Reading
OPEC Takes Aim at its Biggest Problem: Oil Storage
A big obstacle is emerging for the Organization of the Petroleum Exporting Countries’ plan to raise oil prices with output cuts: vast global reserves of crude that threaten its power Continue Reading
Global oil flow trackers set to keep Opec honest
After the excitement around Opec agreeing oil supply cuts with Russia and other non-members at the end of last year, attention in 2017 has quickly shifted to the next key Continue Reading
OPEC Boss Says Producers Will Decide in May If More Oil Cuts Needed
Global oil inventories will start to fall by the second quarter of the year, and crude-producing countries will decide in May whether to extend their collective output cuts beyond the Continue Reading
Saudis cut oil output to lowest in two years, pledge further reductions
Saudi Arabia has cut oil output to its lowest in almost two years, its energy minister said on Thursday, as the world’s largest oil exporter leads OPEC’s drive to eradicate Continue Reading
Exxon Mobil discovers new oil reservoir offshore Guyana
Exxon Mobil Corp said on Thursday drilling results from a third exploration well offshore Guyana showed a new reservoir containing 100-150 million barrels of oil equivalent. The discovery at the Continue Reading
Egypt set for a gas turnaround
The Egyptian natural gas sector is on track for an about-face, though complex dynamics could keep pressure on the industry, Wood Mackenzie found. Italian energy company Eni in December secured Continue Reading
Mexico president tries again to calm anger over gas hike
Mexico’s president tried again on Thursday to calm anger over the big jump in gasoline prices this month amid a historically weak currency and continued threats by Donald Trump to Continue Reading
Venezuela arrests opposition lawmaker and critical general
Venezuelan officials jailed a second opposition figure Thursday as tensions mounted in the economically struggling South American country. Officials re-arrested former Gen. Raul Baduel, saying he had been conspiring to Continue Reading
China’s December coal imports surge 52% on year to 26.84 million mt
China imported 26.84 million mt of coal in December, including lignite, thermal and metallurgical material, down 0.5% from November but up 52.2% year on year, according to preliminary data released Continue Reading
EPA Accuses Fiat Chrysler of Diesel-Emissions Violations
U.S. regulators accused Fiat Chrysler Automobiles NV of using software on its diesel-powered Jeeps Cherokees and Ram pickups that allowed them to spew illegal amounts of pollution into the air, Continue Reading
U.S. Nuclear Power Plants Continue To Close
New York City’s major source of electricity for more than four decades could be taken offline in the next few years, a major victory for the state’s governor, who has Continue Reading
Russia says starts cutting oil production in line with OPEC agreement
Russia has begun cutting oil production in line with the OPEC agreement, Russian Energy Minister Alexander Novak told reporters in Moscow on Thursday. Novak declined to estimate how much January Continue Reading
Gail Tverberg: 2017 The Year When the World Economy Starts Coming Apart
Some people would argue that 2016 was the year that the world economy started to come apart, with the passage of Brexit and the election of Donald Trump. Whether or Continue Reading
HSBC Global Oil Supply Report (September 2016)
HSBC produced an interesting report on oil production decline rates and their implications for the long-term oil supply outlook – Global oil supply: Will mature field declines drive the next Continue Reading
Oil Holds Biggest Gain in 6 Weeks on Record U.S. Refinery Runs
Oil held gains after advancing the most in almost six weeks as U.S. refiners processed a record amount of crude, while OPEC and other producing nations trim output to stabilize Continue Reading
Oil Slips And Bounces Back After EIA Reports Significant Builds Across The Board
Amid growing bearish sentiment towards oil prices, the Energy Information Administration reported a build of 4.1 million barrels in crude oil inventories for the week to January 6, a day Continue Reading
Oil Rises From One-Month Low as Saudi Cuts Counter U.S. Output
Oil advanced from the lowest level in a month as investors weighed production cuts from Saudi Arabia and other OPEC members against a projected gain in U.S. crude output. Futures Continue Reading