Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.
LNG cargoes canceled as virus compounds US export glut

Bloomberg | February 21, 2020 | Energy

A buyer of liquefied natural gas has canceled two cargoes from Cheniere Energy Inc., the biggest U.S. exporter, as a global glut pummels prices for the fuel and threatens to shut a key outlet for shale production.
EIA projects US energy intensity to continue declining, but at a slower rate

AJOT | February 20, 2020 | Energy

EIA’s recently released Annual Energy Outlook 2020 (AEO2020) projects that U.S. energy consumption will grow more slowly than gross domestic product (GDP) through 2050 as energy intensity continues its decades-long trend of decline through the AEO2020 forecast period. Energy intensity is a measure of how efficiently the economy uses energy to produce every dollar of GDP.
Hungry for gas, Brazil needs LNG imports to meet demand – but readies for net exports by 2025

AJOT | February 20, 2020 | Energy

Brazil’s natural gas demand is set to climb to a record in 2020‒2021 at 39 billion cubic meters (bcm) per year, giving the country one of its biggest demand-supply deficits in history.
Indonesia’s 2020 oil and gas output likely to fall, despite official forecasts for growth

AJOT | February 20, 2020 | Energy

Indonesia’s production of both oil and gas will most likely fall in 2020, a Rystad Energy analysis shows, despite the country’s official projections of a combined 8% growth year-on-year.

Venezuela’s Maduro shakes up PDVSA, declares oil ‘emergency’

Bloomberg | February 20, 2020 | Energy | International Trade

Oil steady after 7-day rally on supply outlook and stimulus hope

Bloomberg | February 20, 2020 | Energy | International Trade

Trump’s Venezuela sanctions just tightened on Russia

Bloomberg | February 19, 2020 | Energy | International Trade
EIA revises global liquid fuels demand growth down because of the coronavirus

AJOT | February 19, 2020 | Energy | Conventional | By The Numbers

In the February 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that global liquid fuels demand will average 101.7 million barrels per day (b/d) in 2020, 1.0 million b/d more than the 2019 average but 378,000 b/d less than was forecast in the January 2020 edition of the STEO.

Oil hits two-week high on China stimulus hopes, supply risks

Bloomberg | February 19, 2020 | Energy | Conventional

U.S. solar jobs are rebounding from President Trump’s tariff blow

Bloomberg | February 19, 2020 | Energy | Alternative
Guyana-Suriname Basin poised for upgrade while oil firms prep to splurge billions on Stabroek

AJOT | February 14, 2020 | Energy | Conventional | By The Numbers

Recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells. Meanwhile global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade, Rystad Energy research shows.
Natural gas prices fall to lowest level since 2016, the lowest February prices in 20 years

AJOT | February 14, 2020 | Energy | Conventional | By The Numbers

This winter, natural gas prices have been at their lowest levels in decades. On Monday, February 10, the near-month natural gas futures price at the New York Mercantile Exchange (NYMEX) closed at $1.77 per million British thermal units (MMBtu).
Pipeline protests cripple Canadian railways, raising CEOs’ ire

Bloomberg | February 13, 2020 | Energy | Conventional | Intermodal | Rail

Protests against a natural gas pipeline are crippling Canada’s railways -- key economic arteries in the sprawling, trade-dependent nation -- and prompting cries of “insanity” and “ecoterrorism” from business leaders.

After year at sea, oil caught in Venezuelan tug-of-war finally docks

Bloomberg | February 13, 2020 | Energy | Conventional | Maritime | Bulk
US natural gas consumption has both winter and summer peaks

AJOT | February 13, 2020 | Energy

Natural gas consumption in the United States has two seasonal peaks, largely reflecting weather-related fluctuations in energy demand. In the winter months, cold weather leads to more demand for heating in the residential and commercial sectors. In the summer months, warm weather leads to more demand for air conditioning and, in turn, more demand for electricity.
Global oil stocks to pile up as proposed OPEC cuts are no match for coronavirus-induced surplus

AJOT | February 13, 2020 | Energy

The coronavirus outbreak in China will curb global oil demand growth by at least a quarter this year, and the production cuts of 600,000 barrels per day (bpd) proposed by an OPEC+ committee are far from enough to balance the market, a Rystad Energy analysis shows.
Big oil warned White House China trade deal was unrealistic

Bloomberg | February 12, 2020 | Energy

Industry leaders privately warned the Trump administration that the U.S. will struggle to produce the oil, gas and other energy products that China has committed to buy in a new trade deal, raising additional questions about one of the president’s signature economic achievements.

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