This article reevaluates Opec’s power to control the global oil market and focuses on a political scientist’s research that suggests the cartel’s strength has been overblown for years. “But a closer look at OPEC’s real influence over the oil market suggests that we’re making a huge mistake about its global power, says Brown University political… Keep reading →
Energy News Roundup: Is Opec Toothless? Hedge Fund to Buy Hess Energy Trading & Sasol Approves $8.1B Ethane CrackerBy Jared Anderson
Berkshire Hathaway energy unit MidAmerican Power Holdings has agreed to buy wind turbines with an estimated value of more than $1bln from Siemens. IFM Investors has agreed to invest $1.3 billion in equity funding for the proposed three-train Freeport LNG natural gas liquefaction and export plant in Texas, sourced from a consortium of project finance ledners. The funding in question… Keep reading →
Chevron is a large player in GTL. The company is a partner in the Escravos GTL plant in Nigeria, which will convert 325 million cubic feet of natural gas per day into 33,000 barrels of liquids, mostly synthetic diesel, and is scheduled to come onstream later this year. Commissioning is underway, but “it’s a complex plant and the commissioning activity will really go on for the bulk of this year,” said Chief Financial Office Pat Yarrington during the company’s first-quarter 2013 earnings call on Friday. Keep reading →
The nation is flooded with natural gas. For the last twelve months, the amount of gas available to the market exceeds five-year averages. With more gas than anyone can use, producers are now looking for new consumers. Two new opportunities have emerged and one could disrupt the nation’s economy in some very positive ways.
Less than five years ago it looked like North America’s natural gas market was going to become highly dependent on foreign imports. Anticipating a growing need to offset declining natural resources, investors built eleven liquefied natural gas (LNG) import terminals along the east coast and the Gulf of Mexico. Seven more were approved by federal regulators. But during the last 12 months, very little LNG was imported. Keep reading →
Much like alchemists toiling away in their medieval labs, contemporary firms are trying to find oil out of every other substance that might contain carbon. The challenges are manifold, but the potential prize is huge.
Accelergy, a Houston, Texas-based alternative fuels startup, is trying to commercialize its technology to convert various combinations of coal, natural gas and biomass into a liquid fuel. Keep reading →