Established LNG project operator Chevron bought out two minority stakeholders in the Kitimat LNG export project located in British Columbia, Canada in a deal announced on Christmas Eve.
Chevron’s financial strength, LNG operational experience and marketing expertise could help the project reach important sales and purchase offtake agreements with buyers. Keep reading →
The past year has proved a fundamental pivot in North American energy markets, and set the stage for the coming years to look very different from the past four decades of US energy industry history.
I’ve reviewed the ways the changes that originated in 2012 will affect the political scene in the US here, but in looking through our most popular and most compelling posts on Breaking Energy in the last year I noted how many of them supercede easy categorization. Stories about fracking cut across the buckets in which we seek to put our daily dose of energy news, analysis and discussion, but so have stories about the wind industry, financial shifts and smart grid technology. Keep reading →
One of the primary concerns about electric cars among vehicle buyers remains the question of where they can plug it in. IBM, which has made a specialty in recent years of using its experience with data platforms to enable shifts in energy usage and monitoring, is now working in a slate of European countries to “allow energy providers, car manufacturers and charging point owners to share integrate services on one common IT platform.”
IBM says the concept is similar to mobile phone roaming, with drivers able to charge and pay in any location across borders. The demonstration project, launching this week in Europe and called B2B Marketplace, builds on efforts to improve EV production and distribution in a number of European countries, including Ireland, Spain, Germany and Denmark among others. Keep reading →
Encana and Ferus LNG enter into joint venture to build liquefied natural gas fuel plant in Western Canada http://ow.ly/gd4cg encanacorp
We develop our Outlook for Energy to assess future trends in energy supply, demand and technology. Read the 2013 report http://exxonmobil.co/NHdYNE exxonmobil
Sustained growth in spending on exploration and production across the globe will focus on plays outside North America, a survey from a global bank concludes, despite the country’s growing profile and its potential to become the top global crude producer in coming decades.
Global exploration-and-production spending is poised to reach a record $644 billion by the end of 2013, a semi-annual Barclays analysis predicts. The spending report also foresees strong oil prices, which have emerged as the principal bellwether for growth in E&P budgets. Keep reading →
It is an urban myth that if the oil industry drilled more, gasoline prices would decrease. The myth relies on the premise that as more oil supplies are introduced, market forces would take over and domestic prices would fall. But it turns out that increasing domestic production has virtually no effect on gasoline prices.
The US already increased production. According to the Energy Information Administration (EIA), US oil production reached 310,403,000 barrels per month in October 1970 that became the historic peak. Ever since that time, production changed course and it has been in a steady decline. By 2005, production sank more than 50 percent to approximately 150,000,000 barrels per month. The bottom was reached in September 2008 when production sank to 119,477,000 barrels per month. Since then, for the first time since the 1980’s, monthly production changed direction and it has been trending upward. Last July, the US touched a new record of 196,405,000 barrels per month, a production level the US has not witnessed for over a decade. Keep reading →
Complicated financials in a solar firm with legal issues make it difficult to get through the IPO gate.
After lowering its stock price to a reported $10 per share from a range of $13 to $15, IPO aspirant SolarCity was unable to fill its book and has postponed its IPO, according to Reuters, which quoted an underwriter of the deal. SolarCity has not returned requests for comment. Keep reading →
While supply of energy commodities can often seem arcane, only noticeable to end consumers when prices rise or there is a supply disruption, demand is much more tactile and visible.
“Everyone wants to use as much plastic as we do,” notes Williams Energy senior executive David Darcey on this video shot at a recent summit of the US Association of Energy Economics, detailing rising US production of plastics, innovations in making steel using natural gas and heating oil conversions as parts of the puzzle in creating a rising market for natural gas production currently weighing on prices. Keep reading →
A long awaited report from the Energy Department issued Wednesday said the benefits of exporting the gas far outweigh the costs.
The report clears the way for the approval of of up 15 pending natural gas export facilities – multi-billion dollar projects situated mostly along the Gulf and Mid Atlantic coasts. Keep reading →
