New satellite data shows a significant decline in natural gas flaring at oil production sites around the world in 2017, Kallanish Energy reports. The decline was about 5% and came while global oil production grew by a half-percent. That 5% drop begins to reverse years of increases in global flaring that started … Read more
The amount of money spent in the energy sector fell for a third straight year in 2017, raising concerns about the world’s ability to provide enough power and tackle climate change, the International Energy Agency reported Tuesday. Governments and businesses put $1.8 trillion into energy infrastructure, equipment and resources. That means global energy investment fell … Read more
U.S. liquefied natural gas (LNG) exports quadrupled in 2017, with shipments to 25 different countries, says the U.S. Energy Information Administration. The volume of shipments increased from 0.5 billion cubic feet per day (Bcf/d) in 2016, to 1.94 Bcf/d in 2017, it said. All the shipments originated from Cheniere Energy’s Sabine Pass … Read more
Venezuela’s crude oil seaborne exports dropped 27.2% year-over-year in February, as the country struggles to keep production levels from falling due to natural declines and underinvestment, Kallanish Energy learns. Data from UK’s oil analytics firm Vortexa show crude shipments from the OPEC member totaled 1.39 million barrels per day (MMBPD) last month, compared to 1.91 MMBPD in February 2017. … Read more
Chevron Phillips Chemical has completed mechanical completion of its Cedar Bayou ethane cracker in Baytown, Texas, and commissioning activities are under way, Kallanish Energy reports. That is “a major milestone,” the company said last week, in a statement. The plant is undergoing system checks and final certifications to ensure a safe and reliable startup and … Read more
Total crude oil production from the Organization of Petroleum Exporting Countries increased 173,000 barrels per day (BPD) in July from June, to average 32.87 million barrels per day (MMBPD), according to secondary sources used in the cartel’s August Monthly Oil Market Report. Preliminary data indicate global oil supply increased 170,000 BPD in … Read more
Total OPEC crude oil production is expected to increase by 0.2 million barrels per day (MMBPD) in 2017, and by 0.5 MMBPD in 2018, the Energy Information Administration reports in its February Short-Term Energy Outlook (STEO). Crude oil production in the Lower 48 States is to average 6.88 MMBPD in 2017, and 7.29 MMBPD in … Read more
Iran, which easily beat expectations for how fast it boosted crude oil exports after sanctions were lifted, now needs a massive cash injection and the easing of remaining trade barriers, or the recovery could be kaput. Most industry watchers said when the shackles on Iran’s oil exports were unbuckled in January following a nuclear pact … Read more
The Nigerian militant group calling itself the Niger Delta Avengers (NDA) claimed Thursday to have blown up a pipeline belonging to the Nigerian National Petroleum Corp. (NNPC), the first attack since its proposal for a dialogue with the government, Kallanish Energy learns. “At 4:00am @NDAvengers blow up NNPC Pipeline in Oruk Anam Local Government Area … Read more
The global lithium-ion battery market is expected to generate revenue of $46.21 billion by 2022, with a compound annual growth rate (CAGR) of 10.8% from 2016-2022, primarily due to increased usage in the automotive sector, a new report forecasts. Lithium-ion batteries are rechargeable and are used as a power source primarily in portable devices, according … Read more
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