Fri May 27, 2016
Unlike oil, natural gas has seen repeated episodes of "irrational exuberance" as megaprojects were promoted that never came to fruition or proved seriously uneconomic. This reflects poor market analysis, combined with wishful thinking and "animal spirits".
Thu May 26, 2016
Right now in India, the heat is literally causing roads to melt. The country is in the midst of a crippling heat wave, having experienced its highest temperature ever recorded last week and conditions have only continued. Extreme events like this—drought, rising temperatures, flooding and more storms—are becoming the new norm for countries like India thanks to climate change. While India—and countries like it—bears the brunt of the impacts, it is also increasingly becoming a major source of the problem. India is the fastest growing emitter in the world and still has 300 million people left in the dark.
Unlike his predecessor Ali al-Naimi, new Saudi energy minister Khalid al-Falih may not have much time for OPEC
Today, 250 of the world's leading energy storage experts have gathered at Pacific Northwest National Laboratory to discuss the latest battery technologies, from large liquid and sodium sulfur batteries to new poly-ionics. But to store enough energy to power a city for a day, you need a train filled with a million pounds of rock. Going up and down a hill like Sisyphus, Advanced Rail Energy Storage (ARES) converts excess renewable energy into gravitational potential energy then back into electricity when needed. With no water and no turbines.
Signs emerge that a global supply glut is easing, one week ahead of an OPEC meeting
Oil continues its recovery, with prices rising above $50 a barrel for the first time in 2016 as a result of supply disruptions and increased global demand.
Wed May 25, 2016
Sources say a total of six international oil firms have bid to operate Qatar's largest offshore oil field
Losing $9.4 billion in a span of 20 months would bring most people (even billionaires) to their knees. Not so for Harold Hamm.
Less than six months after the lifting of Western sanctions, Iran is close to regaining normal oil export volumes
Tue May 24, 2016
Enthusiasts believe that shale gas is simultaneously cheap, abundant and profitable thus defying all rules of business and economics. That is magical thinking.
Unconventional-reserves E&P credit Parsley Energy is back in the high yield bond market after one year with a $200 million offering of senior notes via a Credit Suisse–steered bookrunner team that's still being put together. Price talk is 6.25–6.5%, and books close at 11:30 a.m. EDT, with pricing to follow this afternoon, according to sources.
A strike over new labour laws spreads to all of France's eight oil refineries, the CGT union says, in an escalating dispute with the government.
Mon May 23, 2016
In 1980 the U.S. had enough proved oil reserves to last 10 years. Since then, the U.S. has produced oil equivalent to over 3 times that amount. Robert Rapier discusses the growth in oil reserves over the past few decades.
At a recent congressional hearing, an Ohio lawmaker seemed pretty upset with a coal mining regulator, who said that President Obama was costing his state jobs. The congressman was unsettled over a proposal that would forbid surface mining within a certain distance of streams.
Uncertainty about long-term natural gas prices is nothing new, with a tendency to expect them to rise over the long-term. The industry-led National Petroleum Council was typically more accurate, but the tight market in the 2000s changed expectations.
A $2.2 billion liquefied natural gas deal in the Pacific island nation of Papua New Guinea would not normally attract the interest of an oil industry super-major such as Exxon Mobil -- if it wasn't for corporate pride and a desire to keep the French out of Exxon Mobil's backyard.
Sun May 22, 2016
Burdened by sunken prices, global oversupply, more regulations, and more relentless attack, the U.S. oil and gas industry could use a cheer up. While there are threats, the emerging U.S. LNG export business has a bright future. Let's just look at the latest global gas demand projection we have, EIA's International Energy Outlook 2016 just released May 11.
Gulf state planning new laws to force all owners to switch to solar energy
With all of China's geopolitical posturing in the South China Sea, many are claiming that Beijing's aim to control more than 80% of the troubled waterway is purely based on national sovereignty claims.
Sat May 21, 2016
Hanergy Thin Film, the China solar equipment supplier whose market capitalization was among the world’s largest before its shares collapsed last May, said late Friday its chairman and major shareholder Li Hejun had left the company’s board of directors “for the reason of strengthening corporate governance.”
The government of Mexico is aiming to raise at least $44 billion in foreign direct investment via its inaugural sale of deepwater oil and gas exploration rights open to overseas bidders, despite the current turmoil in the oil market.
Fri May 20, 2016
The 2016 global corporate default tally has shot to 72, with 10 issuers defaulting during the week, eight of those coming from the energy/commodities sectors, according to S&P Global.
German giant says it has shipped first gas turbine generator package for Satah Al-Razboot oil field