It’s called “Energetic Bear” and some experts believe elements of the Russian government are behind a string of malware infections that reportedly compromised hundreds of industrial control systems. Originally thought to be used as a form of espionage, experts believe the technology can gain control of energy infrastructure and “cripple physical systems such as wind… Keep reading →
The highly informative and thought-provoking 2014 annual International Association for Energy Economics (IAEE) International Conference came to a successful close last week in New York. The energy world, a world of disparate natural resources endowments that constantly wrangles with its steady companion ‘political risk’, is highly volatile and, therefore, always in flux. In this context, Jason… Keep reading →
Energy consumers often seek similar goals when sourcing supply: Reliable, clean and cheap. The European Union is no exception and a new energy strategy document drafted in the wake of Gazprom’s latest natural gas supply cutoff reiterates that goal. “We must avoid Europe relying to such a high extent on fuel and gas imports. To… Keep reading →
As the situation in Iraq develops, oil market bulls and bears battle over the degree to which the worst sectarian violence since US troop withdrawal will exert upward price pressure. The bear case states the lion’s share of Iraqi oil output and exports originate in the country’s Shiia-controlled south, where it is more difficult for… Keep reading →
All eyes have been on risks to Iraq’s continued ability to supply world markets with oil, but power generation is critical to keeping regional populations calm and facilitating oil industry operations. The violently-contested Baiji refinery supplies refined products to the domestic market, but there is also a 1,320 MW power plant nearby that supplies 10%… Keep reading →
The Rockies Express (REX) natural gas pipeline, originally designed to transport gas from production centers located in the western US, has reversed some of its flow capacity in the opposite direction as a result of booming gas production from eastern shale resources like the Marcellus. Initially, a lateral pipeline extension will ship moderate gas volumes… Keep reading →
Renewable energy sources grew significantly last year according to the BP Statistical Review of World Energy 2014, a widely-accepted energy data source, but coal use plugged along with global coal consumption as a share of total global energy consumption at its highest level since 1970. “Demand from renewable energy sources, including wind and solar, rose… Keep reading →
As militants spilling over from Syria advance toward Baghdad, oil traders are jittery and market observers are trying to evaluate the level of risk posed to Iraq’s main southern oil export facilities. Analyst Michael Lynch proposed potential oil price scenarios that range from relatively minor geopolitical risk premiums to more severe spikes that could see… Keep reading →
The situation on the ground in Iraq is sketchy, with conflicting reports about the extent to which the Islamic State in Iraq and the Levant has advanced and how much territory now controlled by the group. The Sunni Al Qaeda splinter group reportedly took control of the northern city of Mosul and overran the Turkish… Keep reading →
Analysts and traders have their eyes trained on Iraq, where an Al Qaeda splinter group known as the Islamic State in Iraq in the Levant seized control of Mosul – the country’s second largest city – and have reportedly made advancements toward a strategic oil refining center. The main oil production export centers do not… Keep reading →
