Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.
COVID-19 demand update: Oil seen down 4.9%, jet fuel down 20%, road fuel down 5.6% in 2020

AJOT | March 25, 2020 | Energy

Rystad Energy is creating a weekly comprehensive report calculating the effect of the novel coronavirus in our lives and updating estimates for global fuel markets.

QEI’s integrated ADMS system

AJOT | March 25, 2020 | Energy | Alternative | Shipping Technology
European natural gas storage inventories are at record-high levels at the end of winter

AJOT | March 24, 2020 | Energy

European natural gas storage inventories as of March 1, 2020, were 60% full—the highest ever recorded level for the start of March, according to Gas Storage Europe’s Aggregated Gas Storage Inventory (AGSI+). European stock levels for both January and February 2020 were the highest ever recorded for those months. Europe’s high levels of natural gas in storage are the result of a mild winter, which limited winter heating demand, and growing natural gas imports by pipeline and as liquefied natural gas (LNG).
COVID-19 and oil price war could derail two-thirds of the world’s oil & gas project sanctioning in 2020

AJOT | March 23, 2020 | Energy | Conventional | By The Numbers

The effect of the COVID-19 virus on global demand for oil and gas, along with an ongoing price war that has sent oil prices tumbling at an unprecedented rate, are poised to wreak havoc on new project development plans for this year.
China’s crude oil imports surpassed 10 million barrels per day in 2019

AJOT | March 23, 2020 | Energy | Conventional | By The Numbers

China’s annual crude oil imports in 2019 increased to an average of 10.1 million barrels per day (b/d), an increase of 0.9 million b/d from the 2018 average.
History’s largest oil glut months away from topping world storage while tanker freight rates explode

AJOT | March 20, 2020 | Energy

The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10 million barrels per day (bpd). An exclusive Rystad Energy analysis shows global storage infrastructure is in trouble and will be unable to take more crude and products in just a few months.
As total US crude oil imports have fallen, imports from Canada have increased

AJOT | March 19, 2020 | Energy

In 2005, U.S. refineries relied heavily on foreign crude oil, importing a record volume of more than 10.1 million barrels per day (b/d). About 60% of the imported crude oil came from four countries: Canada, Mexico, Saudi Arabia, and Venezuela, and each was responsible for between 12% and 16% of total U.S. crude oil imports that year.
Gas demand growth in Europe nearly erased as COVID-19 sends continent into lockdown/Rystad Energy

AJOT | March 19, 2020 | Energy

European gas demand in 2020 is likely to drop by 0.7% compared to our pre-coronavirus forecast, according to Rystad Energy’s most likely scenario. Growth will be limited to just about 2 billion cubic meters (Bcm) year on year, short of previous expectations for a 6 Bcm increase.

First West Coast LNG export terminal cleared by US regulator

Bloomberg | March 19, 2020 | Energy | International Trade
Up to 3 million bpd of extra oil can hit the market from April, more coming in May - Rystad Energy

AJOT | March 18, 2020 | Energy | Conventional | By The Numbers

The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates.

Oil seen down 2.8%, jet fuel down 12%, road fuel down 2.2% in 2020

AJOT | March 18, 2020 | Energy | Conventional | By The Numbers
The end of OPEC is here

Bloomberg | March 17, 2020 | Energy | Conventional

Never mind the OPEC+ arrangement, Saudi Arabia’s decision to abandon output restraint is a deathblow for OPEC itself.
OPEC shift to maintain market share will cause global inventory increases and lower prices

AJOT | March 16, 2020 | Energy | Conventional | By The Numbers

Markets for oil, as well as other commodities and equities, have experienced significant volatility and price declines since the final week in February amid concerns over the economic effects of the 2019 novel coronavirus disease (COVID-19).

Fuel prices are in meltdown with little reprieve in sight

Bloomberg | March 16, 2020 | Energy | Conventional
EIA projects air-conditioning energy use to grow faster than any other use in buildings

AJOT | March 13, 2020 | Energy | Conventional | By The Numbers

In the Annual Energy Outlook 2020 (AEO2020) Reference case, the U.S. Energy Information Administration (EIA) projects that delivered energy for air conditioning will increase more than any other end use in residential and commercial buildings (also known as the buildings sector) through 2050, while energy consumption for space heating will decline.

Trading giant Vitol is looking to buy Venezuelan oil again

Bloomberg | March 13, 2020 | Energy | Conventional

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