OPEC supply cut could run throughout 2018 Reuters reports that OPEC and Russia are likely to extend the OPEC supply cut agreement for all of 2018, but there may be a provision that allows participants to review the deal in June. OPEC sources told Reuters that a recommendation to extend the agreement was made by […]
OPEC supply cut extension likely, but with conditions Read More »
Keystone pipeline leak in South Dakota shuts down line TransCanada Corp has crews working day and night to clean up the 5,000 barrel oil spill from its Keystone pipeline leak in South Dakota. A state official told Reuters the company has dug up the damaged section of pipe. Brian Walsh, an environmental scientist with the
Damaged part of Keystone pipeline excavated, 1,065 barrels recovered Read More »
US shale producers add more rigs By John Kemp LONDON, Nov 27 – US shale producers have started adding more drilling rigs in response to rising oil prices and improving confidence about the outlook for 2018. Experience shows changes in the number of rigs drilling for oil in the United States tends to follow changes
Column: US shale producers renew challenge to OPEC Read More »
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
Global upstream oil and gas investment falls 25% in 2016, modest rebound in 2017 – IEA Read More »
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
Eight energy majors pledge to reduce natural gas GHG emissions Read More »
Traffic volumes growth less than 1 per cent, down from 4-5 per cent in 2016 By John Kemp LONDON, Nov 21 – Traffic volumes on US highways are at record levels but the rate of growth is slowing as the earlier impetus from lower gasoline prices fades and motoring costs rise. US motorists drove a
Column: US traffic volumes growth slows as oil prices rise Read More »
Brent oil prices up almost $20/barrel since June By John Kemp LONDON, Nov 20 – Hedge funds increased their bullish position in petroleum futures and options to a new record last week, but the first signs of caution started to emerge. Fund managers raised the number of long positions in the five major futures and
Column: Oil prices stall as record bullish position makes funds wary Read More »
Last big regulator hurdle to Keystone XL cleared On Monday, the Nebraska Public Service Commission announced it approved TransCanada’s Keystone XL pipeline through the state, but the route chosen is not the company’s preferred path. The 3-2 decision helps move forward the $8 billion project which will ship Alberta oil sands bitumen to refineries on
Keystone XL pipeline route approved by Nebraska regulators Read More »
In projection, GDP increases by 1.7% per year, and electricity use increases by 0.9% per year between 2015 and 2040 Growth in economic activity (measured as gross domestic product) has tended historically to be coupled with increases in electricity use as populations grow and generate more goods and services, according to the U.S. Energy Information
Link between economic growth and electricity use is changing around the world – EIA Read More »
DOE approves long-delayed New England infrastructure and clean energy project WASHINGTON, D.C. — The Department of Energy(DOE) issued a Record of Decision and approved the Presidential permit for the proposed Northern Pass Transmission Line project, according to a DOE press release. The 192-mile above and below ground, alternating and direct current transmission system will deliver up to 1090
Quebec to New Hampshire transmission line project approved by US Dept of Energy Read More »
