Author Archive: AEN Staff

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Alberta news brief July 21: Encana sued in US over climate change misinformation

Alberta news brief July 21: Encana sued in US over climate change misinformation

Also in this brief: Encana posted Q2 net earnings of $331 million, premiers meet in Edmonton to discuss Canadian Energy Strategy According to the CBC, Encana has been named in three lawsuits filed on Monday that are trying to link damages suffered from climate change to the industry’s attempts to slow down action on the issue. […]

US gas and oil rig count down by 2, Canadian rig count up 15

US gas and oil rig count down by 2, Canadian rig count up 15

Rig count expected to continue rising through at least 2019 In its weekly review, General Electric Co’s Baker Hughes reports the US rig count fell for the second week since January and now sits at 950. Drillers cut one oil rig and one gas rig in the week ending July 21. During the same period […]

Oil prices news brief: Crude prices drop; Big Oil likely to double down on cost cuts

Oil prices news brief: Crude prices drop; Big Oil likely to double down on cost cuts

Oil prices down 2 per cent On Friday, oil prices dropped about 2 per cent after consultant Petro-Logisitcs forecast an increase in OPEC production this month, despite the cartel’s deal to curb output. Brent crude futures were down 92 cents to $48.38/barrel at 12:16 p.m. EDT and US WTI futures traded at $45.99/barrel, down 93 […]

Opinion: Saudi Arabia curtails crude flow to United States

Opinion: Saudi Arabia curtails crude flow to United States

Saudi Arabia crude exports to US at slowest rate since 2015 By John Kemp LONDON, July 21 (Reuters) – Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain visible inventories and support prices. The United States imported an average of 524,000 barrels per […]

New solar tech produces 50% more energy than standard silicon PV cells

New solar tech produces 50% more energy than standard silicon PV cells

New solar energy tech can produce over 50 per cent more energy per day By A’ndrea Elyse Messer UNIVERSITY PARK, Pa. — A concentrating photovoltaic system with embedded microtracking can produce over 50 per cent more energy per day than standard silicon solar cells in a head-to-head competition, according to a team of engineers who […]

Oil price news brief July 20: Brent reaches $50 then dips

Oil price news brief July 20: Brent reaches $50 then dips

Also in this brief: US crude inventories drop, Analysts peg oil price at $40 to $60 for next year or more Oil prices slip in choppy trading In early trading on Thursday, oil prices topped the $50/barrel mark for the first time since June, but as the day wore on, concerns about the global oversupply was a […]

Opinion: US gasoline surplus eliminated by trade flows

Opinion: US gasoline surplus eliminated by trade flows

US gasoline surplus resulted in low prices, increased exports By John Kemp LONDON, July 20 (Reuters) – The US gasoline surplus has disappeared thanks to a sharp drop in prices which has caused imports from Europe to slow and exports to Latin America and other markets to accelerate since the start of June. US refineries […]

China’s plan to dominate global EV market includes pressuring automakers with “impossible” rules

China’s plan to dominate global EV market includes pressuring automakers with “impossible” rules

China looking for EVs, hybrids to be 20% of sales by 2025 Global automakers have urged China to delay and soften planned quotas for sales of electric and hybrid cars, saying its proposals will be impossible to meet and would severely disrupt their businesses, according to a letter seen by Reuters. The June 18 letter […]

Opinion: Saudi Arabia empties domestic crude tanks

Opinion: Saudi Arabia empties domestic crude tanks

Saudi Arabia domestic stocks reached a peak in October 2015 By John Kemp LONDON, July 19 (Reuters) – Saudi Arabia has been progressively reducing its bloated domestic stocks of crude in a sign the global oil market is rebalancing, albeit more slowly than OPEC anticipated. Saudi Arabia’s domestic crude stocks declined in 16 of the […]

US gasoline, crude stocks drop significantly: EIA

US gasoline, crude stocks drop significantly: EIA

Crude stocks down 4.7 million barrels Data compiled by the US Energy Information Administration shows gasoline and crude stocks fell significantly and by more than analysts had expected last week. In the week ending July 14, crude inventories in the United States fell by 4.7 million barrels, against analysts’ expectations of a drop of 3.2 […]