Archive for November, 2017
Global upstream oil and gas investment falls 25% in 2016, modest rebound in 2017 – IEA
Rapidly growing economies of Southeast Asia represent over 4% of global energy investment Total energy investment worldwide in 2016 was just over $1.7 trillion, accounting for 2.2 per cent of global GDP, according to the International Energy Agency(IEA). Investment was down by 12 per cent compared to IEA’s revised 2015 energy investment estimate of […]
World’s largest battery installed in South Australia by Tesla, testing begins soon
Tesla battery to be fed electricity from Hornsdale Wind Farm On Thursday, the South Australian government announced that the giant lithium-ion battery built by Tesla has been installed and testing will begin soon. The project, which will be capable of supply electricity to 30,000 households for a period of eight hours at peak summer consumption […]
Who wants to be in charge? The rapidly changing world of battery technology
Today’s batteries will be superseded in a decade by technologies that perform better than Lithium-ion By Simon Bennett and Luis Munuera, IEA energy technology analysts Innovation and investment in battery technologies are imperatives for a faster energy transition that cut across different parts of the energy system. The cost and performance of batteries will not only shape how fast […]
Lower inventories, Keystone shut down boost oil prices
Oil prices rise in thin trading on Thursday In spite of rising US crude production, oil prices rose in thin trading on the Keystone pipeline shutdown and data showing a decline in US crude stocks. US WTI hit a two-year high, rising 54 cents to sit at $58.56/barrel by 1:30 p.m. EST. Benchmark Brent rose […]
Eight energy majors pledge to reduce natural gas GHG emissions
Majors agree to advocate sound regulations on GHG emissions BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall today committed to further reduce methane emissions from the natural gas assets they operate around the world. The global energy companies say they will also encourage others across the natural gas value chain – from production to […]
Alberta economy red hot in 2017 with 6.7% growth, BC and Saskatchewan still strong
2017 could see highest GDP in Alberta since 1988 Alberta’s economy is set to lead the country this year, with robust economic growth of 6.7 per cent. Next year, however, the province will take a back seat to British Columbia, who will emerge once again as the provincial growth leader, according to The Conference Board of […]
Well drillers association misses target by a country mile with tax, regulatory criticisms
New study reveals property taxes, pipeline capacity biggest challenges to oil and gas industry, not “regulatory uncertainty” or environmental levies The Canadian well drillers have released their 2018 drilling forecast, which reflects a steady as she goes state of affairs while prices hover around $50 WTI and the oil patch slowly gets back to work […]
Keystone clean up to take weeks, unsure restart date
Keystone pipeline leaked 5,000 barrels of oil in South Dakota South Dakota’s environmental regulator said the clean up of oil spill on the TransCanada Keystone pipeline in South Dakota could take several weeks, according to a Reuters report. Late last week, the pipeline that carries about 590,000 barrels per day of Alberta crude to US […]
Notley says TransCanada ‘cautiously optimistic’ after Keystone XL decision
Nebraska Public Service Commission approved Keystone XL Alberta Premier Rachel Notley said TransCanada Corp is “cautiously optimistic” about prospects for construction of the Keystone XL pipeline after Nebraska state officials gave the project the green light earlier this week. The Nebraska Public Service Commission approved the $8 billion project, however, it granted permission to build […]
Oil prices rise on US crude stock drop, Keystone pipeline interruption
US oil prices reach near two-year high early in session Oil prices rose on Wednesday after report from the US Energy Information Administration showed US crude stockpiles had fallen, even though the data showed a drop smaller than the American Petroleum Institute reported on Tuesday. By 10:19 a.m. EST, Brent crude prices were up 36 […]
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