Samuel Ajala is a journalist based in Enugu, Nigeria.

U.S. gas prices drop to multi-decade lows, forcing drilling rein-in

05 Mar 2024  |  Gas Outlook  |  English  |  Natural Gas Industry

U.S. natural gas prices have fallen to their lowest levels since 1997, adjusted for inflation, due to weak demand and high output. The Henry Hub benchmark price dropped to $1.50/MMBtu in February. Warm weather and record production have led to a surplus, with storage levels 22% above the five-year average. This has prompted companies like Chesapeake Energy and Coterra Energy to cut drilling and production, with Chesapeake reducing spending by 20% and production by 15%. Job losses in the sector have been reported, and companies are hoping that reduced drilling will help balance the market. Similar gluts are observed in Japan and Europe. Analysts suggest that sustained low prices are not sustainable for the industry.

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Rystad Energy U.S. Energy Information Administration Bloomberg Intelligence Reuters

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Sertaç Aktan is a journalist based in Brussel, Belgium.

The environmental impact of Europe's floating LNG terminals is being debated

31 Aug 2022  |  tr.euronews.com  |  Turkish  |  Environmental Impact

European countries are establishing floating LNG terminals as a short-term solution to replace Russian natural gas, raising environmental concerns among scientists. These terminals, which emit methane during the gasification process, could delay Europe's energy transition and contribute to long-term climate damage. Critics argue that funds should be directed towards clean energy infrastructure instead. Germany is a major proponent, planning additional terminals and allocating significant funds. Other countries like Italy, Greece, and the UK also have plans for such terminals. Experts warn that these terminals, intended as temporary solutions, may become permanent fixtures.

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Global Energy Monitor Rystad Energy Massachusetts Institute of Technology International Gas Union

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jose chalhoub is a journalist based in Caracas, Venezuela. I have a major in political science worked for 13 years in the oil sector and now providing  country risks assessments and oil markets insights and analyses. Often been quoted in different specialized media in oil markets issues, Venezuela ...

Guyana as the new emerging player in oil markets

02 Sept 2023  |  Modern Diplomacy  |  English  |  Energy Crisis

Guyana is emerging as a significant player in the global oil market, with substantial reserves discovered in 2015 and production starting in 2019. Major companies like Exxon and Hess Corporation are leading the production efforts. Guyana's oil production is projected to grow significantly, potentially reaching 1 million barrels per day in the coming years. The country faces challenges such as establishing a legal framework to manage oil revenues and avoiding economic pitfalls like the 'Dutch disease.' Guyana's strategic importance is increasing, especially in light of global oil market challenges and OPEC+ issues.

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Rystad Energy OPEC+ Saudi Arabia UAE

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William Clowes is a journalist based in Kinshasa, Democratic Republic of the Congo. He has written for Al Jazeera, Foreign Policy, Quartz Africa, Roads & Kingdoms, Slate Magazine, African Arguments, Mail & Guardian, and various other publications. He is also Voice of America's radio correspondent ...

China Cobalt Buyers Use Global Glut to Challenge Pricing

16 Jan 2024  |  leaderpost.com  |  English  |  Battery Industry

China's battery industry is leveraging a surplus in the global cobalt market to alter the commodity's pricing mechanism. Increased cobalt production in the Democratic Republic of Congo and Indonesia has led to a price decline and enabled Chinese refineries to negotiate sales based on the local price of cobalt sulphate, a departure from the traditional pricing against refined cobalt metal. Top producers CMOC Group Ltd. and Eurasian Resources Group have adopted this new pricing model, while Glencore Plc has resisted. The shift reflects broader changes in the battery materials sector and the Chinese industry's ongoing efforts to gain more control over commodity pricing.

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Rystad Energy Shanghai Metals Market CRU Group Fastmarkets

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Helen Davidson is a journalist based in Taipei, Taiwan. Previously reporting on immigration, Indigenous affairs, and the Asia Pacific for Guardian Australia, she is now a correspondent covering China and the region for the Guardian.

Trump tariffs are coming, but some Chinese companies may already know how to avoid them

20 Nov 2024  |  the Guardian  |  English  |  Tariffs

The article examines the potential impact of renewed tariffs under a second Trump presidency, particularly on Chinese solar companies. Despite existing US duties, Chinese manufacturers like Longi and Tongwei have adapted by shifting supply chains to Southeast Asia and exploring new markets in the Middle East. The US Commerce Department has imposed preliminary duties on Chinese solar manufacturers exporting from Southeast Asia, suspecting tariff circumvention. The US solar market remains reliant on Chinese production, highlighting the challenges of disentangling from Chinese supply chains.

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Centre for Research on Energy and Clean Air Rystad Energy International Energy Agency US Commerce Department Trivium China

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Daniela De Lorenzo is a 33 y.o. Italian journalist and photographer based in Brussels.
She holds a BA in International Studies and European Institutions from the University of Milan and a joint MA in Journalism, Media and Globalization from Aarhus Universitet, Danmarks Medie- og Journalisthøjskole ...

Personalized Weather Forecasting Gets Crucial For Energy Businesses

12 Nov 2023  |  Forbes  |  English  |  Climate Change

Exceptional weather events are increasingly disrupting ecosystems and infrastructure, emphasizing the need for accurate weather forecasting to support renewable energy production and global net-zero targets. Renewable energy providers contributed significantly to the global power grid in 2023, with companies like StormGeo and 7Analytics offering advanced weather intelligence and risk management solutions. Investment in renewable energy, particularly in the Nordics, is expected to surge, with companies like Equinor planning substantial investments. Enhanced weather forecasting and technology are crucial for energy companies to protect assets and ensure operational continuity amid climate challenges.

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Rystad Energy Deep Wind Offshore Equinor

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Jennifer Gnana is a multi-lingual journalist with experience in print and broadcast, currently based in Bahrain. She has extensive experience reporting on economic development in the Middle East, with a focus on GCC and Iran. Her specialty is feature writing and risk analysis. She is fluent in ...

Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply

04 Nov 2021  |  The National  |  English  |  International Relations

Opec+, led by Saudi Arabia and Russia, agreed to increase oil output by 400,000 barrels per day in December, maintaining their previous plan despite US pressure to boost supply further. The decision, which aims to bring 2 million bpd back to markets by year-end, resulted in a rise in oil prices, with Brent reaching $82.61 per barrel and West Texas Intermediate at $81.13 per barrel. US President Joe Biden and Energy Secretary Jennifer Granholm have criticized Opec+ for not increasing production more significantly to address rising oil prices and economic recovery concerns. The next Opec+ meeting is scheduled for December 2, and the group is in discussions with the US and key importers to ensure a smooth post-pandemic recovery.

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Rystad Energy Opec+ Wood Mackenzie

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Alan Greenblatt is a journalist based in St. Louis, United States of America.

Texas Is Among Few States Experiencing a Surge in Energy Demand

01 Jan 2024  |  www.governing.com  |  English  |  Renewable Energy

Texas is experiencing a significant surge in energy demand due to factors such as the growth of data centers, artificial intelligence, cryptocurrency mining, and an increasing population. The state's grid operator, ERCOT, faces challenges in maintaining reliability during peak demand periods, with potential risks of rolling blackouts during severe winter weather. Industry leaders and government officials are discussing the need for enhanced domestic energy infrastructure. Texas leads in wind energy production, but concerns remain about the adequacy of resources to meet future demand. Strategies such as demand response and increased investment in natural gas and renewables are being considered to address these challenges.

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Rystad Energy Federal Reserve Bank of Kansas City ERCOT Federal Reserve Bank of Dallas

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I am a journalist based in Jakarta, Indonesia. Currently, I am working for Bisnis Indonesia newspaper.

OPEC Oil Production Rises, Driven by Saudi Arabia

04 Nov 2019  |  ekonomi.bisnis.com  |  Indonesian  |  OPEC

OPEC's oil production rebounded in October from an eight-year low, driven by a rapid recovery in Saudi Arabia following attacks on its largest crude processing facility. The 14 OPEC members pumped an average of 29.7 million barrels per day last month, up by 1.11 million barrels per day from September. Saudi Arabia's production increased by 1.23 million barrels per day to 9.88 million barrels per day. Smaller production increases were also seen in Algeria, Libya, and Venezuela. The September attacks on Saudi energy facilities temporarily halved the output of the world's largest crude exporter, highlighting the vulnerability of the global supply chain. OPEC and its allies, known as OPEC+, are scheduled to meet in December to discuss potential steep production cuts to support prices amid surplus and signs of weaker demand.

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JBC Energy GmbH Rystad Energy AS OPEC OPEC+ Bloomberg Petro-logistics

Eva Levesque is a journalist and producer based in Abu Dhabi, United Arab Emirates.

Reuters/Amir Cohen Ades' contract with Pertamina of Indonesia will begin in the second half of 2024

17 Mar 2024  |  AGBI  |  English  |  Regional Conflict Impact on Energy Projects

The ongoing conflict in Gaza is impacting Israel's ambitions to become a regional hub for natural gas exports. Despite the war, the government awarded 12 new exploration and development licenses to six operators, including international companies like Eni, BP, and Chevron. However, analysts from Facts Global Energy and Rystad Energy suggest that the conflict will likely delay investment and exploration activities in the EastMed gas sector. The violence has already led to the temporary shutdown of the Tamar gas field for security reasons. Future plans, such as the expansion of the Leviathan gas field and a potential deal between Adnoc/BP and NewMed Energy, are also facing delays or uncertainty due to the conflict. The Israeli ministry of energy and infrastructure remains optimistic but acknowledges the challenges posed by the current situation.

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Israel's ministry of energy and infrastructure Rystad Energy Facts Global Energy (FGE)

Eben Mabunda is a journalist, Financial Analyst and Business Anchor/Writer based in Harare, Zimbabwe. He is trained in Financial Management as well as in Journalism and Mass Communications.

Jesse Winter is an award-winning visual journalist currently based in Vancouver, British Columbia. He has reported from north of the Arctic Circle to the swamps of Nigeria's Niger Delta. His recent work focuses primarily on social justice, the environment and government accountability stories. His ...

Rain helps stall wildfire near Canadian oil city

18 May 2023  |  ca.news.yahoo.com  |  English  |  Weather

Overnight rain has helped firefighters in Fort McMurray, Alberta, stall a large wildfire threatening the Canadian oil sands city. The Regional Municipality of Wood Buffalo reported that the wet weather is aiding containment efforts, although the fire remains out of control. The region is forecasted to receive more rain, which could help, but there is also a risk of thunderstorms that might ignite new fires. The fire is currently 5.5 km from the city's southern outskirts, and 6,600 residents have been evacuated. No disruptions to oil production have been reported, but Rystad Energy warns that over 2.1 million barrels per day of oil sands output could be at risk if conditions worsen.

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Rystad Energy Regional Municipality of Wood Buffalo Environment Canada

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