Guy Chazan must have inwardly rejoiced while interviewing outgoing Shell CEO Peter Voser for his piece in the Financial Times (which I’d link to, but they have a frustrating paywall situation). Most of the interview is about dull and important matters like capital expenditure cycles for oil majors, but Voser gave the FT a little… Keep reading →
The shale gas revolution and the flood of cheap gas it unleashed have been great for US economic competitiveness, but its effects are far less favorable for Europe, said Paolo Scaroni, chief executive of Italy’s Eni, at the Council on Foreign Relations in New York yesterday. “Gas prices in Europe are three times as high as… Keep reading →
Two of the oil industry’s more colorful chief executives – Total’s Christophe de Margerie and Eni’s Paolo Scaroni – provided some choice remarks on a range of energy-related topics yesterday at a Council on Foreign Relations event, The Future of Energy. They were joined by Michael Levi, director of the Council’s program on energy security… Keep reading →
Starting January 1, 2014, California and Quebec have signed an agreement to integrate their cap-and-trade programs. On October 1, 2013, the California Air Resources Board (CARB) and the Government of Quebec signed an agreement defining the steps and procedures to link California and Quebec cap-and-trade programs. The agreement, a result of more than five years… Keep reading →
The United States is expected to produce more hydrocarbons – oil, natural gas, and liquids (such as condensates) – than any other country in the world this year, according to the US Energy Information Administration. The EIA published an article last Friday on US hydrocarbon production growth, comparing it to that of global oil and… Keep reading →
Jellyfish in the cooling water intake have forced the shutdown of Sweden’s largest nuclear reactor, which generates about 10% of the country’s electricity. As bizarre as this sounds, jellyfish have caused problems at power plants in several countries, including the US. [CNN] Malaysian Prime Minister Najib Razak said that state-controlled energy company Petronas is going… Keep reading →
Only Saudis & Russians pump more oil According to the International Energy Agency (IEA), US will surpass Russia in total production of liquid fuels in 3rd Qtr. 2013 – that includes crude oil plus biofuels like ethanol. Moreover, US is now the third largest crude oil producer behind Saudi Arabia and barely trailing Russia. Saudi… Keep reading →
Japan’s Tohoku Electric Power Company has agreed to buy 0.9 million tons per annum of LNG for 20 years from the 8.9 mtpa, Chevron-operated Wheatstone LNG project in Australia. Other committed buyers for Wheatstone production include TEPCO, Kyushu Electric Power Company and Chubu Electric Power Company. First LNG is scheduled for 2016. US independent Apache completed… Keep reading →
A government shutdown that lasts only a few weeks should have limited impact on the operations of oil and gas companies, such as drilling, plant construction, and other ongoing operations. A longer-term shutdown could be more debilitating, delaying progress on regulatory requirements, such as new permits, or environmental impact studies. Short-term impacts could be much… Keep reading →
Itching to drive a Tesla Model S but don’t have an arm and leg to pay for one directly from the manufacturer? You can now rent one from Hertz as part of the company’s “Dream Cars” collection if you so desire. It still won’t be cheap, starting at $400 per day and costing you $.49 cents per… Keep reading →
