Nigerian oil output recovery hinges on peace in Niger Delta
Nigeria is bracing itself for another stern test this year as it hopes to restore its oil production fully while at the same time maintaining the fragile peace in the restive Niger Delta.
Oil sector keeps open mind on blockchain
Blockchain, the distributed ledger technology which was possibly the hottest tech topic in the energy sector in 2017 has still to prove itself as more than hype in the oil sector.
Oil and gas sector faces rising threat to upstream investment
Doubts over the future of the global oil and natural gas industry could be stoked further this year if appetites for lending and investment in the fossil fuel sector continue to wane. Climate change, the rise of renewable energies and the prospect of peak oil demand are already knocking dents into the long-term investment outlook for the oil sector.
Forties breakdown heightens doubts over North Sea's longevity
The shutdown of nearly half the UK's oil output due to a hairline fracture in the Forties pipeline in December has added to doubts about the long-term future of the North Sea oil industry.
During recent cold snap, the U.S. withdrew a record amount of natural gas from storage
(Fri, 12 Jan 2018) During the recent cold weather event that affected much of the eastern United States, more natural gas was withdrawn from storage fields around the country than at any other point in history. Net withdrawals from natural gas storage totaled 359 billion cubic feet (Bcf) for the week ending January 5, 2018, exceeding the previous record of 288 Bcf set four years ago.
EIA forecasts mostly flat crude oil prices and increasing global production through 2019
(Thu, 11 Jan 2018) EIA's January <em>Short-Term Energy Outlook</em> forecasts Brent crude oil to average $60 per barrel (b) in 2018 and $61/b in 2019, slightly higher than the $54/b average in 2017. In both 2018 and 2019, EIA expects total global crude oil production to be slightly greater than global consumption, with U.S. crude oil production increasing more than any other country.
IMO 2020, a shipping regulation that may reshape global coal trade
It is evident from industry events these days that shipping is often either way down the agenda or overlooked completely. Alex Younevitch, managing editor for EMEA freight markets at S&P Global Platts, elaborates.
Nearly half of utility-scale capacity installed in 2017 came from renewables
(Wed, 10 Jan 2018) Once final data are in, EIA expects about 25 gigawatts (GW) of new utility-scale electric generating capacity to have been added to the power grid during 2017, nearly half of which use renewable technologies, especially wind and solar. Another 3.5 GW of small-scale solar net capacity additions are estimated to have come online in 2017.
Almost all power plants that retired in the past decade were powered by fossil fuels
(Tue, 09 Jan 2018) Nearly all of the utility-scale power plants in the United States that were retired from 2008 through 2017 were fueled by fossil fuels. Of the total retired capacity, coal power plants and natural gas steam turbines accounted for the highest percentages, 47% and 26%, respectively.
Five oil market myths that need dispelling: Fuel for Thought
OPEC vs. US shale? Russia a fair-weather ally? We examine the common wisdom