Energy
Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.
Venezuela is boosting oil exports even as production plummets
| August 13, 2020 | Energy | Conventional
Bertling Logistics secures major oil & gas contract for another 5 years
| August 13, 2020 | Energy | Project / Heavy Lift | Maritime Project
Bertling Logistics has announced that it have been awarded another 5-year logistics services contract with our client TengizChevroil (TCO), managing the delivery of materials to the Tengiz oil field in Kazakhstan.
As lockdowns eased in May, gasoline demand increased and jet fuel continued to fall
| August 13, 2020 | Energy
The U.S. Energy Information Administration’s (EIA) data show that demand (measured by EIA as product supplied) for motor gasoline increased in May as many states began to relax stay-at-home orders, but demand for jet fuel continued to decline because of reduced commercial air travel. EIA’s July Petroleum Supply Monthly (PSM), which includes data through May 2020, shows how crude oil and petroleum product markets continue to be affected by the measures taken to mitigate the spread of coronavirus.
Oil drops with IEA demand outlook pointing to weakness ahead
| August 13, 2020 | Energy
US says Iran forces boarded tanker in international waters
| August 13, 2020 | Energy
Oil trades near $43 though IEA casts doubt on demand outlook
| August 13, 2020 | Energy
IEA cuts oil-demand forecasts as air travel outlook darkens
| August 13, 2020 | Energy
India bars China ships from oil trade as ties strain further
| August 13, 2020 | Energy | International Trade
Massive oil refiners are turning into biofuel plants in the West
| August 12, 2020 | Energy
The latest sign of a worldwide energy transition: Massive oil refineries across the western U.S. are being converted into biofuel plants.
US liquefied natural gas exports remain at low levels this summer
| August 11, 2020 | Energy
After establishing a record high of 8.0 billion cubic feet per day (Bcf/d) in January 2020, U.S. exports of liquefied natural gas (LNG) fell to an average of 3.1 Bcf/d in July 2020. July exports were similar to LNG exports in May 2018, when the available liquefaction capacity was about one-third of the current capacity.
Covid-19 pushes OFS headcount to lowest level in over a decade, revenue per employee set to decline
| August 11, 2020 | Energy
The oil market turmoil brought on by Covid-19 has led to lower-than-anticipated activity and delayed projects, forcing the industry to deploy cost-cutting measures. A Rystad Energy analysis of the top 50 oilfield service (OFS) firms shows that staffing is set to reach its lowest level in more than 10 years, with the anticipated revenue per employee also declining towards the previous downturn’s level.
US permits for new horizontal drilling dip to 10-year low, hinting no strong rebound in 2020 activity
| August 11, 2020 | Energy
US horizontal drilling activity in oil basins, which has plummeted due to the Covid-19 pandemic, is not likely to materially recover this year, a new Rystad Energy analysis shows. Drilling permits, which are increasingly reliable indicators of future activity levels, dipped to a 10-year monthly low this July, with only 454 awards.
Utility-scale battery storage capacity continued its upward trend in 2018
| August 10, 2020 | Energy | Alternative | By The Numbers
By the end of 2018, the United States had 125 operational battery storage systems, providing a total of 869 MW of installed power capacity and 1,236 MWh of energy capacity.
LPG Markets are Back in Favor
| August 10, 2020 | Energy | Conventional | By The Numbers
July finished with additional signs that the LPG markets are coming back into favor, with overall offtake increasing 14% from June. Higher discharges took place in parts of Asia, where Japanese and South Korean imports each grew 24%, to 324,000 bpd and 333,000 bpd respectively.
Libya’s oil blockade is expected to persist further, shrinking upcoming global production glut by 65%
| August 07, 2020 | Energy | Conventional | By The Numbers
Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen
| August 07, 2020 | Energy | Conventional
Nigeria signs deal to end disputes over offshore-oil exports
| August 07, 2020 | Energy | Conventional
One stranded tanker signals peril of trading with Venezuela
| August 06, 2020 | Energy | Conventional | Maritime | Bulk
Oil wavers with murky economic view weighing on recovery signs
| August 06, 2020 | Energy
Battle over gas project may shape Australia’s energy future
| August 05, 2020 | Energy
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