Energy

Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.


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EIA expects crude oil prices to average near $50 per barrel through 2022

AJOT | January 21, 2021 | Energy

In its January Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids will be greater than global supply in 2021, especially during the first quarter, leading to inventory draws. As a result, EIA expects the price of Brent crude oil to increase from its December 2020 average of $50 per barrel (b) to an average of $56/b in the first quarter of 2021. The Brent price is then expected to average between $51/b and $54/b on a quarterly basis through 2022.

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Crowley awarded fuel distribution contract for Arctic North Warning System, a critical link for national security

AJOT | January 21, 2021 | Energy

The U.S. Defense Logistics Agency-Energy (DLA-Energy) has awarded Crowley Solutions a five-year, $15 million contract for fuels transportation and distribution services for the Canada North Warning System locations supporting the nations’ joint security efforts.

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Oil tanker owners pay to move crude in wake of supply cuts

Bloomberg | January 21, 2021 | Energy

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route.

For Trudeau, life after Trump is off to a rocky start
Energy
Bloomberg | Top Story | January 21, 2021

For Trudeau, life after Trump is off to a rocky start

President Joe Biden’s cancellation of the Keystone XL project has put Justin Trudeau in a no-win situation. He has no good options to retaliate. But a failure to fight back could fracture the unity of his own country.
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Seeing awards plunge to a 16-year-low, these suppliers are better placed for a life-or-death transition

AJOT | January 20, 2021 | Energy | Conventional | By The Numbers

Oil and gas supply chain companies have seen their profits squeezed since the E&P cost cuts of the previous downturn – and just as the industry could finally hope for better days, the Covid-19 pandemic caused the value of 2020’s awarded contracts to slump to a 16-year low of $446 billion.

Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen

AJOT | January 20, 2021 | Energy | Conventional | By The Numbers

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Graves, Westerman & McMorris Rodgers Statements on Biden Administration Plan to Revoke Keystone XL Pipeline Permit

AJOT | January 20, 2021 | Energy | Conventional

Committee on Transportation and Infrastructure Ranking Member Sam Graves (R-MO), Committee on Natural Resources Ranking Member Bruce Westerman (R-AR), and Committee on Energy and Commerce Ranking Member Cathy McMorris Rodgers (R-WA) today released the following statements on the incoming administration’s expected revocation of a permit to build the Keystone XL pipeline between Canada and the United States

Oil tanker owners pay to move crude in wake of Saudi supply cuts

Bloomberg | January 19, 2021 | Energy | Conventional | Logistics

Loop Energy appoints George Rubin as CCO

AJOT | January 19, 2021 | Energy | Alternative | People | Appointments

Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen

AJOT | January 19, 2021 | Energy | Conventional | By The Numbers

Adani to Raise $2.5 Billion From Green Deal With Total

Bloomberg | January 18, 2021 | Energy | Alternative | International Trade | Ports & Terminals

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The UK offers operators best profit conditions to develop big offshore fields; Kuwait, Canada follow

AJOT | January 18, 2021 | Energy | Conventional | By The Numbers

This year marks the beginning of a recovery after a disappointing 2020, when the Covid-19 pandemic caused sanctioning of offshore projects to dip to $44 billion from $99 billion the year before. Rystad Energy projects offshore sanctioning to rebound to at least $56 billion in 2021 and keep rising to as high as $131 billion in 2023.

Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen:

AJOT | January 18, 2021 | Energy | Conventional | By The Numbers

SPDC completes sale of interest in Oil Mining Lease 17 in Nigeria

AJOT | January 15, 2021 | Energy | Conventional

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Hong Kong innovation takes center stage at CES 2021

AJOT | January 15, 2021 | Energy

More Than 22 of Hong Kong’s Hottest Startups Will Showcase New Solutions and Technological Breakthroughs at This Year’s Virtual Exhibition

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The dynamism of the Asian market and the rise in fuel prices increase freight rates in Valenciaport

AJOT | January 15, 2021 | Energy | Conventional | By The Numbers

The Valencia Containerised Freight Index (VCFI) of December experienced a growth of 4.19% with respect to the previous month, confirming the trend of the last five months of the year of increased freight rates.

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