As global oil prices beat a hasty retreat from the relative highs of recent years – dropping roughly $20 per barrel in weeks – market watchers have attempted to diagnose the situation. A popular view now is that Saudi Arabia is willing to take a short-term budgetary hit from lower prices in order to force… Keep reading →
Russian and Chinese leadership signed a host of preliminary agreements yesterday covering everything from oil & gas, to nuclear power, finance, satellite navigation and high-speed rail. Russia has long been skeptical about cozying too close to China, which is both a huge market and potential business partner, but also a competitor and potential rival. It… Keep reading →
Depending upon which side of the fence one sits, major oil supply disruptions are typically considered bad luck, but in Opec’s case, recent supply disruptions have helped balance the market and support prices. “OPEC has been lucky – 3.5 million bpd of shale production has been absorbed through disruptions. They’re running out of luck,” –… Keep reading →
A mixture of supply/demand fundamentals and economic indicators are pushing down prices for global benchmark crude grade Brent. The EIA concisely describes current global crude oil market dynamics in its Today in Energy brief. [EIA] Oil market observers are buzzing with theories seeking to explain why Saudi Arabia cut official selling prices for its crude… Keep reading →
The need to reduce methane emissions from leaky valves, pipelines and compressor stations is giving rise to a new commercial industry made up of companies that specialize in methane emissions detection technology. “The industry has already seen an uptick in interest for its products and services, driven in part by the installation of oil and… Keep reading →
New York City Mayor Bill de Blasio announced a new program designed to reduce energy consumption in buildings as part of the city’s greenhouse gas reduction goal. The program called NYC Built to Last is modelled after the NYC Clean Heat initiative that cut soot pollution from heating oil by 50 percent. “Representing three quarters… Keep reading →
Citing pressure from stakeholders and legal proceedings, the EPA said Thursday it’s moving forward with an endangerment finding regarding aircraft emissions that account for an estimated 11% of US greenhouse gas emissions. Proving pollutants from aircraft engines are a danger to the public is the first step in crafting enforceable limits to regulate those emissions.… Keep reading →
A theory emerged to explain the appearance of a massive crater in Russia’s hydrocarbon-rich Yamal Peninsula that has climate-change observers extremely concerned. Analysts have long known that Russia’s energy future lies beneath the frozen ground of Yamal and independent producer Novatek is building a large LNG export project now with the help of French oil… Keep reading →
Biofuels proponents have been meeting with White House officials this week in attempts to ensure Renewable Fuel Standard blending requirements will not be reduced this year, as first indicated by EPA. The various groups also want new classifications of biofuels to be included as accepted fuels under the legislation. “More than 35 applications for new… Keep reading →
Geopolitical turmoil and security threats in major producing regions are never good for oil market stability, and while global benchmark oil prices have been cruising through an historic range-bound lack of volatility for an extended period, geopolitical headwinds show no sign of abating in the near term according to Barclays’ research. The bank forecasts 2014 Brent… Keep reading →
