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  1. Yesterday

  2. Drunk Oil Trader

    Meredith Poor replied to topic's bibutery in Oil Trading

    That hilarious to be honest, i can't.

  3. GREEN NEW DEAL = BLIZZARD OF LIES

    JoMack replied to topic's Jay McKinsey in Oil (General)

    Yep, that is what a peak looks like. Then things start moving faster and faster downhill. You have a lot to learn.
  4. Leslie Beyer, CEO, Energy Workforce & Technology Council commented on the DOI offshore lease plans and FERC’s approval of natural gas projects. View the full article
  5. Woodside Petroleum Ltd. almost certainly won investor approval to boost global oil and gas production by adding BHP Group assets while also facing a rebuke on its climate accounting. View the full article
  6. CGG announced that Sercel, its Sensing & Monitoring division, has acquired Geocomp Corporation, specialized in high-value services and products for geotechnical risk management and infrastructure monitoring. View the full article
  7. Centennial Resource Development Inc., a shale oil producer in the Permian Basin, agreed to acquire private equity-backed rival Colgate Energy in a cash-and-stock deal valued at about $2.5 billion. View the full article

  8. How Far Have We Really Gotten With Alternative Energy

    Ron Wagner replied to topic's Jay McKinsey in Oil (General)

    150 GW Of Wind Power From The North Sea — Deal Just Signed In Denmark Probably the most ambitious agreement on renewable energy ever was signed today on the harbor of the city Esbjerg in Denmark. It’s called The Esbjerg Declaration — with the subtitle on The North Sea as a Green Power Plant of Europe. According to Statista.com, approximately 837 gigawatts (GW) of wind power capacity was installed worldwide from 2001 to 2021. The section on wind power in The Esbjerg Declaration states targets for offshore wind up to at least 150 GW by 2050. The current wind power capacity in Denmark is about 5 GW, half onshore and half offshore. we will increasingly replace fossil fuels, including Russian oil, coal and gas, with European renewable energy from the North Sea, including offshore wind and green hydrogen, contributing to both EU climate neutrality and energy security. To achieve this and to pave the way for the further expansion of offshore wind, we have decided to jointly develop The North Sea as a Green Power Plant of Europe, an offshore renewable energy system connecting Belgium, Denmark, Germany and the Netherlands and possibly other North Sea partners, including the members of the North Seas Energy Cooperation (NSEC). As Members of NSEC, we will build on the work already accomplished and will implement strategies to achieve our goals in close cooperation with the other regional countries and the European Commission. In doing so, we will strive for a balanced coexistence of economic and ecological needs. The North Sea as a Green Power Plant of Europe will consist of multiple connected offshore energy projects and hubs, offshore wind production at massive scale as well as electricity and green hydrogen interconnectors. We aim for a cost-efficient buildout of offshore wind that will harvest the potential of the North Sea in the most beneficial way for both the connected countries and the European Union overall. Together, we have set ambitious combined targets for offshore wind of at least 65 GW by 2030. Based on the North Sea as a Green Power Plant of Europe, together we aim to more than double our total capacity of offshore wind to at least 150 GW by 2050, delivering more than half of the capacity needed to reach EU climate neutrality according to the European Commission’s Strategy on Offshore Renewable Energy. This will contribute to large-scale onshore and offshore production of green hydrogen. We have set combined targets of about 20 GW production capacity already by 2030 and look to expand our production even further for 2050.
  9. Around half of Gazprom PJSC’s foreign clients have complied with a request from Russia’s president to open accounts with Gazprombank JSC, according to Deputy Prime Minister Alexander Novak. View the full article
  10. National Ocean Industries Association President Erik Milito said Interior has had 16 months to fulfill its statutory obligation to develop and maintain an offshore oil and gas leasing program and it has failed. View the full article
  11. There is no limitation for delivering Russian Oil to Europe. The closing is discussed for End of 2022 and thats a quite long time.
  12. Ukraine get now the result of their incompetent Minsk II agreement.That would have cost something but never that much which was now destroyed in 70 days. Not even close. Azov Fighters will be sorted out. And Russia have a big Database established in the last few years.
  13. Last week
  14. The recovery of the shale patch workforce is still years in the making despite the frothy profits that rallying crude prices are generating for U.S. oil companies and their contractors. View the full article
  15. The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe. View the full article
  16. Taken a senility test yet? You agree with my statements and then say I am wrong... HAHAHAHAHAHAHAAHAHAHA Nice dodge about the main points of which you have no rebuttal. Bravo. A true lawyer, try to nit pick a tiny technicality of which you just posted you agree, instead of address the 99%. Bravo. This is why I have you blocked. Unfortunately I was too stupid to respond to your dithering. Adios
  17. The war in Ukraine has prompted Europe to reshape its energy policy, and once-snubbed U.S. LNG is now a key part of a European Union’s strategy to wean itself off Russian gas expected to be outlined this week. View the full article
  18. https://www.iso-ne.com/about/what-we-do/in-depth/natural-gas-infrastructure-constraints New York State has blocked a natural gas pipeline from Pennsylvania which is the best potential supplier. New York gets most of its gas from Pennsylvania and Canada. RCW Natural Gas Infrastructure Constraints During the last few years, inadequate infrastructure to transport natural gas has at times affected the ability of natural-gas-fired plants to get the fuel they need to perform. This energy-security risk has become a pressing concern in New England, considering the major role natural-gas-fired generation plays in keeping the lights on and setting prices for wholesale electricity. The performance of the largest and most flexible sector of generators is weakened by insufficient pipeline and storage capacity New England Has Benefited from Natural-Gas-Fired-Generation In 2000, natural gas fueled just 15% of the region’s electricity. Since then, it has become the dominant fuel used to produce electricity in New England, displacing higher emitting and less economic power plants. With supply from the nearby Marcellus Shale and relatively low construction costs, natural gas continues to be a top fuel choice for new generators. These new power plants are not only some of the most efficient in the country, but in the world. (Learn about the resource mix.) The shift to natural gas has benefited the region in many ways: The use of relatively clean-burning natural gas, along with emission controls on fossil-fuel-burning generators and other factors, has contributed to a significant long-term decline in regional air emissions. Natural gas prices, typically lower than other fossil fuels for most of the year, have helped the annual energy market value remain well below its high of $12 billion in 2008 and reach record lows in 2016. Fuel costs are typically one of the major inputs in the wholesale price of electricity. Follow the effects of natural gas in the ISO’s monthly analyses of electricity prices and demand. The ability of many natural-gas-fired plants to change output quickly helps to balance the variations in output from increasing levels of intermittent power resources that rely on the wind and sun. Access to Fuel Has Become Uncertain during Winter During many recent winters, regional gas utilities have been using most, if not all, of the capacity on the pipelines that carry natural gas into New England. This is particularly true during very cold periods when heating demand is high. This leaves very little to no pipeline capacity for electric generators, which creates a number of concerns for the power system: Reliability risks: Because such a large and still growing quantity of the region’s generating capacity uses natural gas (learn more at Key Stats—Resource Mix), its unavailability can pose a serious risk to the reliable supply of electricity. This is particularly true when non-gas-fired resources are also unavailable, for example, due to: Mechanical problems for some of the region’s aging non-gas-fired generators Reduced imports from neighboring grids dealing with the same weather Delayed oil and LNG deliveries Unfavorable weather conditions for solar and wind resources Energy-security risk is not as apparent during mild winters, when heating demand for natural gas is lower and there’s more natural gas available for generators. However, New England winters are unpredictable. On the coldest days, fuel constraints could sideline thousands of megawatts of natural-gas-fired generation. When that happens, system operators turn to power plants with stored fuel—coal, oil, or nuclear—to meet demand. If the region were to experience a “perfect storm” of problems with grid resources, ISO system operators could be forced to use special measures to protect the grid. Those could include asking the public to conserve electricity or, in extreme cases, ordering load shedding (rolling blackouts affecting blocks of customers). This risk is likely to grow unless the region can find ways to offset the loss of more non-gas-fired power resources as they retire. Air emissions: Pipeline constraints can also affect regional air emissions during winter because the ISO has to run higher-emitting generators when gas-fired units can’t access fuel or when the price of natural gas spikes. During the cold spell that spanned the end of 2017 and beginning of 2018, New England’s power system relied heavily on oil generation, and daily carbon dioxide emissions rose to an average of over 220,000 short tons, up from 100,000 short tons per day leading up to the cold snap. Price volatility: Similarly, the price of natural gas tends to spike as temperatures drop and demand for the fuel increases. This has an immediate effect on wholesale electricity prices. For example, natural gas delivery constraints during the 16-day cold spell of 2017–2018 significantly affected energy-market prices. The region’s wholesale energy market was valued at $992 million for the two-week period from December 26 to January 8, compared with $243 million during the same time the prior year. Over the course of the entire winter, the energy market was valued at $2.6 billion, with approximately 38% of that coming during the cold snap. See how prices for wholesale electricity track natural gas. Pipeline Development Hasn’t Kept Pace with Demand Energy-security risks may be more acute in New England than in most other regions because New England is “at the end of the pipeline" when it comes to natural gas and the other fuels used most often to generate the region’s power. New England has no indigenous fossil fuels and therefore, fuels must be delivered by pipeline, ship, truck, or barge from distant places. Additionally, the natural gas pipeline system within New England is relatively small, and its access to the rest of the North American pipeline network is limited. This also makes the region vulnerable to pipeline interruptions. In regions with a more robust pipeline network, a failure at a single point on the pipeline system typically can be contained to a local area and routed around, but such an outage in New England will likely create significant impacts. The tremendous growth in natural-gas-fired generating capacity is shown in the graph below. But the natural gas pipelines that deliver low-cost shale gas into the region have not been expanded at a commensurate pace. Further, pipelines are built and sized to serve customers with firm contracts for capacity, typically gas utilities, not electricity generators. Gas utilities commit to the long-term contracts required for incentivizing pipeline development. Generators, on the other hand, typically forego these premium contracts, instead arranging for fuel only as needed and relying on unused pipeline capacity for delivery. Because generators have no guarantee for when or how long they’ll be called to run—and there’s no practical way for them to store excess pipeline gas or electricity on site—contracting for pipeline capacity only when needed helps natural-gas-fired generators keep their costs as low as possible to maintain competitiveness in the wholesale electricity markets. While that strategy works for most of the year, on cold days the pipelines are running at or near maximum capacity solely to meet heating demand. During several recent winters, this situation has severely limited the delivery of fuel to much of the region’s power plants, which, in turn, threatened the reliable supply of electricity and drove up wholesale electricity prices and air emissions. Generators Running on Oil also Raise Energy-Security Concerns Energy security isn’t just about natural gas. Adequate arrangements for oil delivery are also a concern for both generators that run exclusively on this fuel source and those natural-gas-fired generators that have the ability to switch to oil. “Dual-fuel technology” that allows generators to switch to oil may be the most cost-effective investment natural-gas-fired generators might take to ensure they can run when pipelines are constrained. However, state restrictions on air emissions may limit their ability to run on oil. Consequently, more natural gas plants may need to turn to LNG in winter when pipeline gas is unavailable or its price spikes. Will Imported Liquefied Natural Gas (LNG) Fill the Gap? While more natural-gas-fired generators may turn to LNG, several factors can impede generators’ access to LNG when it’s most needed. First, LNG is a global commodity that’s imported to New England by ocean-going tankers, so it must be contracted for months in advance—an option most generators elect not to pursue. Second, the arrival of any spot LNG cargoes depends on global prices and vary from year to year; they also supply the entire Northeast and beyond—not just New England generators. Third, severe weather could prevent the timely arrival of ships. Contracts for winter deliveries of LNG, as well as the construction of on-site LNG storage, are among the options generators could invest in to satisfy performance requirements in the capacity market. The ISO’s Efforts Have Mitigated the Energy-Security Risk but Will Not Solve the Problem Addressing the energy-security issue is currently the region’s highest-priority challenge. While the ISO doesn’t have the authority to require generators to make long-term investments in fuel supplies, we have been developing tactics for the past six years to mitigate the fuel-security risk, such as: Developing new situational awareness and forecasting tools for our system operators to confirm fuel availability for natural-gas-fired units Improving communication and coordination with interstate pipeline operators Implementing Winter Reliability Programs that pay demand-response resources to be available and generators to boost winter fuel inventories of oil and LNG or to invest in dual-fuel technology (the ability to switch between different fuels, typically natural gas and oil) Fine-tuning the energy markets to strengthen resource performance Instituting “pay for performance” (PFP) enhancements that, starting in 2018, will reward resources that make the investments needed to ensure performance during periods of system stress, such as by contracting for adequate fuel, while resources that don’t perform will forfeit capacity payments Although PFP provides an efficient market mechanism to boost performance, it may not address all aspects of the region’s energy-security challenges that emerged after PFP was developed. PFP’s pricing provides a strong real-time signal for resources to prepare for tight operating conditions and to perform when the system is in an “at-risk” situation, but it’s not a forecasting tool—it does not signal the risk in advance. Given that the region’s fuel infrastructure can become tightly constrained and fuel logistics complex during harsh winter conditions resource owners need advance notice of energy constraints to that they have time to make fuel delivery or other preparations. This will become more critical as fuel constraints continue to tighten with resource retirements and progressively stricter emission limitations on the power industry.
  19. Commenting on the vote on the Queen’s Speech, Offshore Energies UK External Relations Director Jenny Stanning said it is essential to attract investment into North Sea projects to support the UK's energy security and the energy transition. View the full article
  20. https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-05-17 3 hours ago Yellen Says Ukraine Conflict Shows Why West Should End Reliance on China and Russia By Andrew Duehren What I have been saying for years now. This should apply to all who are not our friends. RCW BRUSSELS—Treasury Secretary Janet Yellen said the U.S. and Europe should seek to end their reliance on China for commodities such as rare-earth minerals, calling more broadly for Western countries and their allies to shift trading relations away from potential global rivals. In a speech at the Brussels Economic Forum on Tuesday, Ms. Yellen pointed to Russia's invasion of Ukraine as she argued that countries shouldn't make themselves beholden to Russia or China for critical commodities such as oil. The U.S. and European Union are still grappling with how to best free the European economy of its dependence on Russian oil and gas. Ms. Yellen has previously called for the U.S. and its allies to begin what is known as friend-shoring—the process of moving supply chains to political partners to protect against future economic conflict. "We have become too vulnerable to countries using their market positions in raw materials, technologies or products to exercise geopolitical leverage or disrupt markets for their own gain," she said. She called out China's status as a major producer of rare-earth minerals, as well as its efforts to become a major manufacturer of semiconductors. Europe and the U.S. should collaborate closely on how to pressure China to change its economic behavior, Ms. Yellen said. Responding to the war in Ukraine has helped knit the U.S. and EU closer together, potentially bolstering efforts to address China's role in emerging technologies, among other issues. "China is more likely to respond favorably if it cannot play one of us off against the other,” she said. “We should all aspire to encouraging China to drop objectionable practices." The Chinese Embassy in Washington didn't immediately respond to a request for comment on Tuesday.
  21. Canada’s oil production could increase by 900,000 barrels a day to make up for supply losses from Russia’s war in Ukraine, according to the premier of the province of Alberta. View the full article
  22. At the start of Q1 2022, global oil and gas industry contract activity was stifled due to the Russia-Ukraine conflict. However, in the second half of the quarter a minor increase in the number of contracts was reported. View the full article
  23. Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain. View the full article
  24. Abu Dhabi National Oil Co. plans to build a new liquefied natural gas plant as the world’s producers race to expand their exports amid surging demand. View the full article
  25. Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. View the full article
  26. The smallest oil producer in the Persian Gulf is turning to natural gas imports to meet rising energy demand as production from its own deposits slips. View the full article
  27. I have no comment to make on the material, except to ask whether this is the right forum for it. This forum is about energy technology, science and research, but the comment is more about the markets and finance..
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