Recent energy news points to the potential for some big changes for major energy producers, and for global energy markets. After an arbitration court ruled that Gazprom was overcharging a German utility for gas, and mandated the addition of market price links to its pricing formula, members of the Gas Exporting Countries Forum might find… Keep reading →
Can BP successfully challenge $blns in settlement payouts related to the Deepwater Horizon explosion and subsequent Gulf of Mexico oil spill? The company is accusing “trial lawyers and some politicians” of submitting thousands of inflated or false claims. [New York Times] Can biomass really challenge Gazprom’s supremacy as an energy supplier to Eastern Europe and… Keep reading →
A pair of proposed pipeline projects may bring more than 90 billion cubic meters per year of natural gas to European markets, but this will not undermine the rationale for developing the continent’s indigenous shale resources, which could offer a range of other economic and security benefits, says Eurasia Group global gas analyst Leslie Palti-Guzman.… Keep reading →
Unrest in Turkey could upset Kurdish and Israeli plans to develop, and ultimately export, oil and gas respectively. [Quartz] Shareholder activism – rather, activism by select shareholders – is upsetting energy company executives’ plans to hold on to their jobs until they choose to leave. [WSJ] Competition from independent Russian gas producers, such as Novatek,… Keep reading →
The large gap between domestic US natural gas prices and LNG prices in European and Asian markets that underlies the rationale for US LNG exports has raised the question: when US gas is sold abroad, who captures that spread? The difference between low prices paid for gas produced in the US – currently trading at… Keep reading →
Sustained growth in spending on exploration and production across the globe will focus on plays outside North America, a survey from a global bank concludes, despite the country’s growing profile and its potential to become the top global crude producer in coming decades.
Global exploration-and-production spending is poised to reach a record $644 billion by the end of 2013, a semi-annual Barclays analysis predicts. The spending report also foresees strong oil prices, which have emerged as the principal bellwether for growth in E&P budgets. Keep reading →
Coal that’s being priced out of the US market by cheap natural gas is being burned instead in Europe, where it’s cheaper than natural gas with prices traditionally linked to oil.
The resulting pressure is beginning to break down those links, and the differential between natural gas prices in the US and Europe could diminish significantly before any US liquefied natural gas (LNG) can be exported. Keep reading →
Russia’s gas giant Gazprom chairman and Deputy Prime Minister, Viktor Zubkov (R), applauds as he and Gazprom CEO, Alexei Miller (L), attend the world biggest gas company’s annual meeting in Moscow on June 29, 2012.
Russia’s natural-gas monopoly OAO Gazprom (GAZP.RS) isn’t considering a buyback of its own shares to support the market price, its Chief Executive Alexei Miller said Friday. Keep reading →
US oil companies would be hobbled in their response to an oil spill from wells off the cost of Cuba, a Senate committee heard this week.
If there’s an oil spill from wells being drilled off the Cuban coast, US companies have sophisticated response equipment just 100 miles away – but couldn’t use it due to long-standing sanctions against Cuba. Keep reading →
