Energy

Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.

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Offshore field sanctioning nears peak

AJOT | May 22, 2019 | Energy | By The Numbers

The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy.

Oil Falls as Deepening Trade War Stokes Fear Over Global Growth

Bloomberg | May 22, 2019 | Energy

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US shale on track to 16% oil growth in 2019

AJOT | May 21, 2019 | Energy | By The Numbers

US shale operators are on course to increase oil production significantly in 2019. The growth in US onshore production from the first quarter through the fourth quarter could come in at around 1.1-1.2 million barrels per day (bpd), or 16% for the full year, according to Rystad Energy.

Oil Climbs as OPEC Signal on Output Curbs Overshadows Trade Risk

Bloomberg | May 20, 2019 | Energy

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Venezuelan crude oil production falls to lowest level since January 2003

AJOT | May 20, 2019 | Energy | By The Numbers

In April 2019, Venezuela's crude oil production averaged 830,000 barrels per day (b/d), down from 1.2 million b/d at the beginning of the year, according to EIA’s May 2019 Short-Term Energy Outlook.

Trade Wars and Drone Strikes Are Realigning OPEC

Bloomberg | May 19, 2019 | Energy

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Coal stockpiles at U.S. coal power plants were at their lowest point in over a decade

AJOT | May 17, 2019 | Energy | By The Numbers

U.S. coal stockpiles decreased to 98.7 million tons in February 2019, their lowest value in more than a decade. Total U.S. coal stockpiles have fallen as more coal plants have retired.

U.S. Gasoline Traders Would Rather Export Than Ship to New York

Bloomberg | May 16, 2019 | Energy

American oil finds new markets as China-US trade rift grows

Bloomberg | May 16, 2019 | Energy

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Trade war leaves LNG projects vulnerable

AJOT | May 15, 2019 | Energy

The escalation of the trade war between the US and China could jeopardize several LNG mega projects that are awaiting final approval, according to Rystad Energy.

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Tax credit phaseout encourages more wind power plants to be added by end of year

AJOT | May 15, 2019 | Energy

EIA expects that U.S. wind capacity additions in 2019 will total 12.7 gigawatts (GW), exceeding annual capacity additions for the previous six years but falling short of the record 13.3 GW of wind capacity added in 2012. Expected capacity additions discussed in this article are based on projects reported to EIA through surveys and reported in EIA’s Preliminary Monthly Electric Generator Inventory.

Oil price risks rise to precarious levels

AJOT | May 13, 2019 | Energy | By The Numbers

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Liquefied natural gas imports limited price spikes in New England this winter

AJOT | May 13, 2019 | Energy

During winter 2018–2019, imports of liquefied natural gas (LNG) at terminals serving New England played an important role in moderating natural gas prices in the region.

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Contract signed for offshore emergency response software: Sea/response

AJOT | May 13, 2019 | Energy | Maritime | Technology

Oil Spill Response Limited (OSRL), on behalf its Subsea Well Intervention Services (SWIS) members (which include BP, Chevron, ConocoPhillips, Exxonmobil, Equinor, Petrobras, Shell, and Total) is pleased to announce that it has entered into a licence with Maritech Services Ltd (Maritech) for the provision of an offshore emergency response software tool: Sea/response. Sea/response uses its patented technology to identify emergency vessels and equipment most suitable for and closest to a well or drill location. In the event of an offshore emergency, Sea/response will enhance energy company operational preparedness whilst aiming to reduce environmental damage and meet the needs of regulators. Maritech worked with OSRL and their SWIS members to tailor certain specifications of Sea/response to meet the members’ multi-mission requirements covering Capping & Containment, Offset Installation Equipment (OIE), and Relief Well Drilling. Maritech is a wholly-owned subsidiary of Clarkson plc. Andrew Worrall, Senior Technical Specialist, BP Capping and Containment, said: “This is a great example of OSRL recognising an opportunity to increase their service level for subscribers. The Sea/response portal’s use of intelligent data not only facilitates significant reductions in incident response times, but also allows for real-time monitoring of mutual aid vessel availability, particularly in remote locations, giving operators visibility of any emerging risks and allowing them to react accordingly.” Chris Lund, SWIS Technical Manager added: “I’m pleased to see how the combination of the Sea/response software and the various Source Control Mission Plans found in the SWRP Capping & Containment Guidelines, available only to the SWIS subscribers, have created such a valuable tool to the industry – ensuring that operators have a full insight of the vessels of opportunity in the region during preparedness planning and response situations. This tool is now available to the industry and may significantly reduce response times when every minute counts, and the number one priority is to stop the release of hydrocarbons to the environment as quickly as possible.” Sea Response_Desktop - Map with vessels 2 Sea/response spokesperson, Paul Love, adds: “We are delighted to have secured OSRL’s SWIS members as users of Sea/response. As a collective, OSRL includes over 40 individual energy companies and to have their SWIS members on board with Sea/response really demonstrates the value that technology can bring to emergency situations and the shipping industry generally. It provides us with great confidence for the adoption of future technology releases that we bring to the market.”

Oil Rises as Middle East Tanker Attacks Add to Political Risks

Bloomberg | May 13, 2019 | Energy | International Trade

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2018 was likely the most profitable year for U.S. oil producers since 2013

AJOT | May 10, 2019 | Energy | By The Numbers

Net income for 43 U.S. oil producers totaled $28 billion in 2018, a five-year high. Based on net income, 2018 was the most profitable year for these U.S. oil producers since 2013, despite crude oil prices that were lower in 2018 than in 2013 on an annual average basis.