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 →
Saudi Arabia has taken another step towards building up its nuclear power generation capacity by signing a Memorandum of Understanding for in-country collaboration with Westinghouse Electricity, Exelon Nuclear Partners and Toshiba. Nuclear could be a key tool in managing a mismatch between rising in-country energy consumption and a heavy dependence on oil exports to meet… Keep reading →
Reports in a Lebanese newspaper detail a meeting between Russian President Vladimir Putin and Saudi intelligence chief Prince Bandar bin Sultan, in which bin Sultan suggested a joint Russian-Saudi strategy to manage oil production volumes and prices, according to Platts. “‘Let us examine how to put together a unified Russian-Saudi strategy on the subject of… Keep reading →
In the midst of the shale revolution, US proved natural gas reserves drove the first ever global decline in proved gas reserves in 2012, and it all comes down to low prices, according to BP Chief Economist Christof Rühl. Global proved natural gas reserves fell by half a trillion cubic metres in 2012 compared to… Keep reading →
Renewables suffered their first “serious slowdown” in 2012, as their rapid growth outpaced the capacity of some economies to continue subsidizing them, according to BP Chief Economist Christof Rühl. Global renewables consumption – defined as wind, geothermal, biomass, solar and waste – grew by 15.2% in 2012 over 2011 levels, to 237.4 million tons of… Keep reading →
