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IEEFA Research

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

Data suggests that ExxonMobil is underperforming in the Permian Basin

June 9, 2021 (IEEFA) – ExxonMobil’s claims that its Permian Basin oil and gas reserves are world-class will need the immediate attention of the new board, according to a new analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). In recent investor presentations, ExxonMobil has highlighted the superior performance of its oil wells […]

IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs

IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs

Commission’s 21-year-old pipeline policy puts contracts ahead of utility customers

December 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improves

October 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]

IEEFA: Canadian assessment of LNG ‘rising tide’ would drown balance sheets in red ink

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 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 brief: Second quarter results show that shareholder dividends pushed oil supermajors deep into red

IEEFA brief: Second quarter results show that shareholder dividends pushed oil supermajors deep into red

ExxonMobil, recently kicked out of the Dow Jones Industrial Average, posted the worst performance among supermajors in Q2

August 25, 2020 (IEEFA)— One day after ExxonMobil was kicked out of the Dow Jones Industrial Average, a new analysis shows that the company suffered through one of its worst quarters in years, characterized by sharply negative free cash flows and massive borrowing to sustain its shareholder dividends. Overall, the five global oil and gas […]

IEEFA report: China unlikely to come to rescue of overbuilt U.S. LNG industry

IEEFA report: China unlikely to come to rescue of overbuilt U.S. LNG industry

Falling prices and shrinking demand constrain market, even before coronavirus crisis

July 29, 2020 (IEEFA) — A rebound of the ailing U.S. liquefied natural gas (LNG) industry isn’t likely to come from Chinese demand, according to a new study by the Institute for Energy Economics and Financial Analysis (IEEFA). Global LNG markets have been hammered by collapsing prices, falling consumption, and an enormous supply glut in […]

IEEFA report: Transition planning a must as South Africa’s export markets pivot away from thermal coal

New energy technology replacing coal-fired power faster than predicted

16 September 2019 (IEEFA South Africa) ‒ South African coal exports are approaching long-term decline, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA) out today. Author of the report Simon Nicholas, energy finance analyst with IEEFA, says the sector needs to come to terms with the prospect of fading […]

IEEFA Global: A $51 Billion Gap (and a $51 Billion Opportunity) in BRICS Nations’ Renewable Energy Development

How to Meet the Goal? Through "Blended Finance" Where Public Funds Unleash Private Money

Here, in one chart, is an IEEFA picture worth a thousand words. While some $130 billion was invested last year in renewable-energy development in the BRICS countries—Brazil, Russia, India, China, and South Africa—billions more are required if these countries are to meet their commitments to climate-change mitigation policies. The four countries, in all, have announced […]

October 17, 2016 Read More →

More News and Commentary

Barely 10% of $17 trillion in COVID stimulus spent on green projects

The Guardian: Trillions of dollars poured into rescuing economies around the world from the Covid-19 crisis have been spent in ways that worsen the climate crisis and harm nature because governments have failed to fulfil promises of a “green recovery” from the pandemic. Only about a tenth of the $17tn in bailouts provided by governments […]

July 20, 2021 Read More →

Russian, Belgian joint venture plans 1GW Vietnam offshore wind farm

offshoreWind.biz: Russian oil & gas company Zarubezhneft and DEME Concessions Wind have signed a Memorandum of Understanding to jointly develop a 1 GW Vinh Phong wind farm offshore Vietnam. The consortium plans to commission the project’s first phase with 600 MW capacity by 2026 and the second phase with 400 MW capacity by 2030. The […]

July 19, 2021 Read More →
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IEEFA U.S.: Prices are up—but the oil industry’s return is more complicated

Rising oil prices fail to mask long-term fundamental weaknesses for oil business

Former ExxonMobil CEO Lee Raymond advanced the idea in the 1980s that the quality of management trumped all else in evaluating the oil industry’s prospects. He believed oil company executives were in the best position to project supply and demand, ride worldwide growth cycles, and provide robust returns to investors, no matter how oil markets […]

Russian finance minister warns transition threatens revenues

Bloomberg ($): Russian Finance Minister Anton Siluanov warned the Kremlin needs to brace for falling revenues after a stress test showed the global clean energy push could lead to a significant decline in demand for fossil fuel exports. Modeling done by his ministry showed carbon pricing and the rise of renewable energy could cause “radical […]

July 9, 2021 Read More →

AES accelerates closure of 1,097MW of coal units in Chile

Argus Media: US utility AES is accelerating the shutdown of 1,097MW of coal-fired power generating units in Chile, in line with the greening of its corporate strategy and the country’s decarbonization plan. Ventanas units 3 and 4 in the central coastal city of Puchuncavi and Angamos 1 and 2 in the northern port city of […]

July 7, 2021 Read More →

Australia ranks last for climate action among 193 nations in UN report

Renew Economy:  Australia has been ranked dead last for climate action in the latest Sustainable Development Report, which assesses the progress of countries towards achieving the Sustainable Development Goals. In the latest edition of the report, produced by the UN-backed Sustainable Development Solutions Network, Australia received the lowest score awarded to any of the 193 […]

July 1, 2021 Read More →

Novatek-led venture mulls wind power for gas-fired Siberian plant

Upstream Online: Novatek-led liquefied natural gas producer Yamal LNG is considering adding a wind power plant to its existing gas-fired generation facilities in Russia as it aims to drive down its carbon emissions. The existing generation facilities already provide electric power and heat to the operator’s flagship LNG plant near the port of Sabetta in […]

June 30, 2021 Read More →

UAE considering becoming first OPEC member to set net-zero goal

Bloomberg ($):  The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won’t require it to sell less oil. The country is considering a 2050 target to align with a […]

June 25, 2021 Read More →

Rosneft claims low-sulfur Arctic oil to yield “green barrels”

The Barents Observer:  Russian state company Rosneft is about to start the development of one of Russia’s biggest ever oil projects, and company leader Igor Sechin is eagerly seeking justification of his multi-billion dollar investments in the remote tundra of Taymyr. The Vostok Oil is to produce as much as 30 million tons of oil […]

June 18, 2021 Read More →

Carmichael plans India plastics plant supplied by Australian coal

The Guardian: The owners of the controversial Carmichael mine in Queensland want to build a US$4bn plant in India that would use Australian coal to make plastic. Adani Enterprises, which owns the Carmichael coalmine, said in submissions to Indian authorities the plant will use 3.1m tonnes of coal a year at the plant to make […]

June 17, 2021 Read More →