The U.S’s gas boom is both a threat and an opportunity, the head of Saudi Basic Industries Corporation (Sabic), one of the world’s top petrochemical companies, told CNBC. Speaking from the World Economic Forum in Jordan, CEO Mohamed Al-Mady said the uptick in shale gas production in the U.S. would provide “more severe competition” for… Keep reading →
Waterless hydraulic fracturing or “fracking” technology has all the makings to disrupt and redefine the $30bln North American pressure pumping market. In recent weeks, I’ve spoken about the use of laser and even CO2 technologies that can be used for enhanced oil recovery (EOR). I’m still very much intrigued by the advancement of energy without… Keep reading →
It’s been boom or bust for US East Coast refiners in recent years. While several plants shut down, others adapted their logistics to benefit from shifting supply and market dynamics. The shut downs increased surviving operators’ market share, while access to cheaper Midcontinent feedstock combined to strengthen margins and profitability in some cases. Sheer size… Keep reading →
Saudi oil output hit a record 9.51 million barrels per day in 2012, when the country lifted output to offset the impact of supply disruptions in Libya and a 1 July EU embargo on Iranian crude shipments. Saudi Arabia exported about 6.9 million bbls/d of oil last year, of which more than 50% went to… Keep reading →
In case you missed them, here are some highlights from Breaking Energy this week. Breaking Energy’s own intrepid editor, Jared Anderson, discovered that operators of the Phillips 66 Bayway Refinery prefer Bakken to bacon (see incontrovertible proof above). The US Department of Energy finally gave the green light for non-FTA exports to a second plant… Keep reading →
The technology needed to turn windows, any type of glass window, into transparent power plants is almost ready for commercial production. New Energy Technologies, Inc. developer of spray-on solar cells recently announced that its researchers have successfully achieved faster fabrication time, improved transparency, and a two-fold increase in power conversion efficiency. The new breakthrough means the technology has progressed… Keep reading →
The average US price of a gallon of gasoline has ticked up over the past few days, hitting $3.68/gallon on May 24 in advance of the Memorial Day start of the summer driving season, the Energy Information Administration reports. In the Midwest, the increase has been particularly acute. Midwest – or Petroleum Administration for Defense District (PADD)… Keep reading →
Alaska Governor Sean Parnell’s push to open up ANWR’s area 1002 to exploration – and possibly oil and gas development somewhere down the road – may prove ill-timed, coinciding with an ongoing battle over the Keystone XL Pipeline, as well as escalating production and concerns generated by the shale revolution. Existing estimates suggest that ANWR… Keep reading →
A US carbon tax could generate sizeable revenues, but could also have a negative impact on the country’s economy, depending on how those revenues were deployed, according to a report from the United States Congressional Budget Office. The CBO report noted that neither it nor the Joint Committee on Taxation had developed estimates for carbon… Keep reading →
The US House of Representatives (or more accurately, House Republicans, joined by a handful of Democrats) has passed legislation approving the controversial Keystone XL oil pipeline to bring Canadian crude to US markets, in what House Democrats are calling a “largely symbolic” move. The bill would sidestep the requirement that pipeline company TransCanada obtain State Department approval… Keep reading →
