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Bloomberg ($): “This time is different” may be the most dangerous words in business: billions of dollars have been lost betting that history won’t repeat itself. And yet now, in the oil world, it looks like this time really will be. For the first time in decades, oil companies aren’t rushing to increase production to […]
IEEFA
Bloomberg ($): The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out the market. Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new […]
IEEFA
Bloomberg ($): Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast an economic rebound after the coronavirus pandemic. The kingdom is looking at the potential sale — which could be worth about $19 billion, […]
Clark Williams-Derry and Tom Sanzillo
For 2021, expect conflict and infighting to further muddy the industry’s prospects
It was a dismal year for oil and gas. As the pandemic sucked the wind from the sails of the global economy, oil demand slumped, stockpiles swelled, prices sagged, capital spending collapsed, debt ballooned, profits evaporated, and bankruptcies skyrocketed. After this torrent of bad news, the energy sector ended the year in last place in […]
IEEFA
S&P Global Market Intelligence ($): Amazon.com Inc. signed contracts to purchase power from 26 renewable energy projects on four continents totaling 3.4 GW, as part of its target to achieve net-zero carbon emissions by 2040. The wind and solar projects are located in Australia, France, Germany, Italy, South Africa, Sweden, the U.K. and the U.S. […]
Bruce Robertson
Origins AGM highlights the troubled past and uncertain future of Australia’s LNG industry
Origin Energy’s annual general meeting last week (20 October 2020) highlights the appalling share price performance of the Australian energy company over the last decade. Investors have lost 69% in shareholder value at a time when the market was rising. Well may Gordon Cairns, the outgoing chairman, lament that Origin’s share price does not reflect […]
Press Release, Melissa Brown and Norman Waite
Hope springs eternal for Chinese demand but reality suggests bleak forecast for new projects
October 19, 2020 (IEEFA)— The Conference Board of Canada, an Ottawa-based research organization, has doubled down on a bad hand, according to an analysis by the Institute for Energy Economics and Financial Analysis. The Conference Board’s report, A Rising Tide: The Economic Impact of B.C.’s Liquified Natural Gas Industry, claims an expansion of the British […]
IEEFA
The New York Times: For decades, elected leaders and corporate executives have chased a dream of independence from unstable or unfriendly foreign oil producers. Mission accomplished: Oil companies are producing record amounts of crude oil and natural gas in the United States and have become major exporters. Yet the companies themselves are finding little to […]
IEEFA
ReNews.biz: Saudi Arabia will become a regional heavyweight in the Middle East’s wind power market adding over 6GW in the next 10 years, according to new research by Wood Mackenzie Power & Renewables. The report – ‘Middle East Wind Power Market Outlook, 2019-2028’ – said developers will build 6.2GW of wind capacity in the country […]
IEEFA: Canadian assessment of LNG ‘rising tide’ would drown balance sheets in red ink
Hope springs eternal for Chinese demand but reality suggests bleak forecast for new projectsOctober 19, 2020 (IEEFA)— The Conference Board of Canada, an Ottawa-based research organization, has doubled down on a bad hand, according to an analysis by the Institute for Energy Economics and Financial Analysis. The Conference Board’s report, A Rising Tide: The Economic Impact of B.C.’s Liquified Natural Gas Industry, claims an expansion of the British […]