Analysts at investment bank Credit Suisse cut their 2015 benchmark global oil price expectations in the face of bearish fundamentals, forecasting Brent to average $97 per barrel and WTI to average $89/bbl. All eyes are on Saudi Arabian exports, which are currently at the lower end of the historical spectrum and could decrease further when… Keep reading →
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Energy News Roundup: Credit Suisse Cuts Oil Price Forecast, Gazprom’s Gas Exports Down & Oklahoma Wind Power Controversy
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We will never sell or share your information without your consent. See our privacy policy.Energy News Roundup: Writing on the Wall for Utilities, Big Week for House Energy Votes, Oil Price Plunge Continues
By Jared AndersonUsing Germany as an example, this article investigates the changing utility business model in the face of rapidly expanding renewable energy sources and other trends that are eating into utility company bottom lines. “A reckoning is at hand, and nowhere is that clearer than in Germany. Even as the country sets records nearly every month… Keep reading →
Energy News Roundup: Did Opec Miss the Shale Boat? NY Goes Big Into Solar and Slight Oil Price Increase
By Jared AndersonOpec missed the fracking bandwagon according to this article that includes quotes from a secret letter written by Prince Al-Waleed Bin Talal, a high-ranking member of the Saudi royal family, that drew attention to the threat posed by non-Opec unconventional resource production growth. “In addition to the many discoveries of oil and gas in the… Keep reading →
Energy News Roundup: Natural Gas Catastrophe? Home Depot Driving the Power Industry? And Oil Prices Mixed
By Jared AndersonA theory emerged to explain the appearance of a massive crater in Russia’s hydrocarbon-rich Yamal Peninsula that has climate-change observers extremely concerned. Analysts have long known that Russia’s energy future lies beneath the frozen ground of Yamal and independent producer Novatek is building a large LNG export project now with the help of French oil… Keep reading →
Energy Quote of the Day: ‘The Fog of War Will not Clear for a Long Time;’ Oil Price Impact?
By Jared AndersonGeopolitical turmoil and security threats in major producing regions are never good for oil market stability, and while global benchmark oil prices have been cruising through an historic range-bound lack of volatility for an extended period, geopolitical headwinds show no sign of abating in the near term according to Barclays’ research. The bank forecasts 2014 Brent… Keep reading →
The US could run afoul of the WTO if LNG export approvals are not more quickly granted. “In a report commissioned by the National Association of Manufacturers, he [James Bacchus] wrote, ‘The tables may be turned on the United States directly in the WTO, but also through other countries walking away from core principles that… Keep reading →
US refiners have had a tough 25 years, Pioneer Natural Resources Chairman and CEO Scott Sheffield said during a lunch keynote presentation at the Independent Petroleum Association of America Oil & Gas Investment Symposium in New York today. East Coast refiners face a competitive disadvantage to those located on the Gulf Coast because Eastern plants… Keep reading →
Energy News Roundup: Libya Shakes Up Crude Oil Market and Europe is Stuck with Russia for Gas
By Jared AndersonThe Brent-WTI spread narrowed further yesterday, with the price differential currently around $6/bbl, as Libya continues to shake up the international oil market. “Libya, the holder of Africa’s biggest crude reserves, has become the smallest producer in the 12-member Organization of Petroleum Exporting Countries after protests halted production and shipments. Output shrank to 250,000 barrels… Keep reading →
The Saudis threatened to block fellow GCC member Qatar’s land and sea borders unless it cuts all Muslim Brotherhood ties, shuts down Al Jazeera and expels think tanks Brookings Doha Centre and the Rand Qatar Policy Institute. Saudi Arabia, UAE and Bahrain withdrew their ambassadors from Doha last week to protest Qatar’s Muslim Brotherhood support,… Keep reading →
The Brookings Institution, a think tank in Washington D.C., recently published “Big Bets & Black Swans – A Presidential Briefing Book” with policy recommendations for President Obama in 2014. Among a plethora of issues addressed, Tim Boersma and Charles K. Ebinger also discuss lifting the ban on U.S. oil exports. Let’s briefly assess the validity… Keep reading →