By Kiran Moodley The Organization of the Petroleum Exporting Countries (OPEC) trimmed its forecast for U.S. growth in 2013, warning that the ongoing budget impasse in Washington could damage the recovery. The group cut its forecast from GDP growth of 1.7 percent to a 1.6 percent expansion for this year. While there was a healthy… Keep reading →
Private-sector energy information provider Genscape is offering complimentary access to energy reports to fill the void left by the shutdown of agencies such as the Nuclear Regulatory Commission and the Energy Information Administration. EIA and NRC employees are joining the ranks of those furloughed during the government shutdown, meaning that many regular data reports will… Keep reading →
Sakhalin Energy, the consortium that operates the Sakhalin II LNG project in Russia, is seeking higher prices for LNG sales from Korea’s Kogas, the world’s largest LNG buyer, sources have told Bloomberg. The contract is linked to Brent crude prices, which have risen substantially since it was signed eight years ago. The article indicates that Kogas… Keep reading →
Canadian security agencies have been briefing representatives of energy companies who have obtained high-level security clearances, according to freedom of information documents obtained by the Guardian. “Meetings were officially billed to discuss ‘threats’ to energy infrastructure but also covered ‘challenges to energy projects from environmental groups’, ‘cyber security initiatives’ and ‘economic and corporate espionage’.” [Guardian]… Keep reading →
Could implementing a widespread change in energy use be as simple as educating leadership? The US Navy’s top-down structure may provide an effective means of implementing broad, sweeping changes to energy use in one of the country’s largest institutions. The Naval Postgraduate School’s Energy Academic Group and Cebrowski Institute hosted a five-day training course for Naval… Keep reading →
The exact circumstances surrounding the kidnapping – and subsequent release – of Libyan Prime Minister Ali Zeidan by an anti-crime unit in Tripoli last night aren’t totally clear. But as short-lived as the event proved to be, it had a big impact on oil markets. “The oil market was reminded overnight that the geopolitical risk… Keep reading →
By Javier E David First was Texas. Next came Pennsylvania and North Dakota. Could New York become the next U.S. shale hotspot? It’s a tantalizing prospect for some, given that the Empire State sits atop not one but two prolific shale formations, the Marcellus and the Utica. According to the most recent data from the… Keep reading →
With the 2014 FIFA World Cup less than a year away, Brazil is rapidly preparing its power grid to support the millions of visitors that will travel to the country for the event. Many of the transmission and distribution infrastructure challenges that Brazil is currently addressing were similar to the issues South Africa confronted during… Keep reading →
The Energy Information Administration’s most recent Short-Term Energy Outlook points to an uptick in natural gas demand that could help take some of the slack out of the market, but other forecasts suggest that the EIA’s production expectations are too conservative. If that is the case, the supply overhang could persist for some time, absent a… Keep reading →
Carl Icahn has bought up 61 million shares of Calgary-based Talisman Energy, which equates to about 6% – or $300 million worth – of the company’s stock. “This is an unfocused company that probably needs to shed more assets or be taken over completely.” Icahn previously set his sights on companies such as Chesapeake and Transocean… Keep reading →
