Last week, Saudi Aramco’s chief executive officer, Amin Nasser, said that the company expects to boost its oil production capacity to 13 million barrels per day (bpd) by 2027. The EIA defines spare capacity very […]
Skyrocketing prices for natural gas, coal and electricity are putting extra pressure on oil markets, boosting demand as industries and power generators seek to switch to liquid fuels to keep a lid on costs. But […]
Shortages of natural gas in Europe and Asia are boosting demand for oil, deepening what was already a sizable supply deficit in crude markets, the International Energy Agency said. Crude has surged above $80 a […]
With its chimneys towering 200 meters above the industrial heartland of England, West Burton A power station is a relic of the fossil fuel age. When fired up, its boilers burn thousands of tonnes of […]
Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc. Crude and […]
China’s oil consumption could peak in five years at a daily level of around 16 million barrels, a senior Sinopec executive has forecast, as quoted by Reuters. Ma Yongsheng, acting chairman of the state oil major, also […]
Is US$200 a barrel oil likely if policies to reduce climate change take hold? Yes, says a Middle East oil minister and industry analysts. But not until the mid-century deadline for net-zero emissions. It would […]
It has been a shift in commodity matrices like never before, where supply and demand are still critical, but not the only factors. Geopolitical, natural gas hunger, low supplies in Europe and Asia, and no […]
The era of cheap natural gas is over, giving way to an age of far more costly energy that will create ripple effects across the global economy. Natural gas, used to generate electricity and heat […]
Energy News Beat Publishers Note (ENB): This was a hugely significant call by the IEA, but surely also an extremely challenging one. The signs are that the market is not yet responding to the IEA’s […]
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