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The EV Boom Is Dead Without Proper Support

September 21, 2017 OilPrice.com 0

Frankfurt’s car show, one of the most important in the world, this September spotlighted electric vehicles (EVs). France and the United Kingdom have already decreed an end to sale of cars with internal combustion engines by 2040. Norway is looking to do the same by 2025. And China has begun the push to electrify its vehicle fleet. In the process putting pressure on foreign manufacturers to share technology if they want to gain entry to the potentially enormous Chinese market. Politicians, eager to claim credit for factories and jobs, have…

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Argentina Doubles Down On Shale Gas And Renewables

September 13, 2017 OilPrice.com 0

Traditionally one of the most prominent oil and natural gas markets in South America, Argentina is increasingly turning towards alternative forms of energy, with the government exploring shale gas and renewable options as it looks to diversify its power market. The shift comes amid challenges to longstanding hydrocarbons production, which has seen Argentina record export deficits in recent years. Foot on the gas According to the “BP Statistical Review of World Energy 2017”, natural gas accounts for 50.2 percent of Argentina’s…

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How Will Venezuela Deal With A PDVSA Default?

September 13, 2017 OilPrice.com 0

While debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government and the National Assembly) make it a daunting task. By 2020, the country must repay 30 percent of the external debt due to expire in the next 23 years. Venezuela can get access to liquidity via three main ways. The first option is to borrow directly on the financial market which implies that the country must pay an increasingly prohibitive risk…

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OPEC’s Output Drop: Saudis Overcompensate While Compliance Slides

September 12, 2017 OilPrice.com 0

Confirming Monday leaks that OPEC production had dipped last month, the just released OPEC report for the month of September confirmed that OPEC produced 32.755mmb/d (according to secondary source data), a drop of 79,100 bpd, and the first monthly decline in 4 months. According to the underlying data, in the last month output increased in Nigeria (+138.3Kb/d), while declining in Libya, Gabon, Venezuela Saudi Arabia, and Iraq. (Click to enlarge)While secondary sources pegged Saudi production in August at 10.022mmb/d, a drop of 10.3kb/d…

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Can North Korea Survive An Oil Embargo?

September 12, 2017 OilPrice.com 0

The United States has recently suggested a global oil embargo against North Korea, something both China and Russia oppose. The DPRK’s neighbours to the north support UN sanctions against Pyongyang, but have firmly opposed unilateral U.S. sanctions against North Korea. Russia and China have made a commitment never to support sanctions against Pyongyang that could negatively impact the civilian population, a stance that would almost certainly include a full-scale oil embargo. On the contrary, Russia’s plan to de-escalate tensions on the…

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Two Nuclear Plants Are In The Path Of Hurricane Irma

September 7, 2017 OilPrice.com 0

Hurricane Irma is more powerful than all of the other major Atlantic storms this year combined, and it has an eye as large as the entire Detroit metro area. It is being reported that “upwards of 90 percent” of Barbuda has already been destroyed by the storm, and it is being projected that some areas of Puerto Rico could be without power “for between four and six months”. You may want to view these photos and these videos to get a better idea of the immense destructiveness of this very powerful…

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The Next Step In Mexico’s Oil & Gas Privatization Push

September 4, 2017 OilPrice.com 0

Mexico’s Energy Regulatory Commission (CRE) released its first monthly price report on August 18, 2017. As part of its ongoing series of energy reforms that reduce government market controls, the Mexican government converted to a liberalized natural gas market on July 1, 2017. Along with releasing the price index report, Mexico’s pipeline system operator (CENAGAS) launched its natural gas capacity reservation system with electronic bulletin boards for posting natural gas flows. The price index system captures data on…

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How To Incentivize Purchasing Of Eco-Homes

September 4, 2017 OilPrice.com 0

Two seemingly perennial challenges concerning the UK are; the urgent need (and legal obligation) to reduce the country’s carbon emissions by 80 per cent by 2050; and the supply and affordability of homes. Part of the work we do at the British Research Establishment (BRE) is trying to come up with solutions and we think we may have found one that combats both issues at the same time. The underlying principle is simple – low energy homes have lower fuel bills. However, current mortgage affordability assessments have no way of predicting…

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How To Incentivize Purchasing Of Eco-Homes

September 4, 2017 OilPrice.com 0

Two seemingly perennial challenges concerning the UK are; the urgent need (and legal obligation) to reduce the country’s carbon emissions by 80 per cent by 2050; and the supply and affordability of homes. Part of the work we do at the British Research Establishment (BRE) is trying to come up with solutions and we think we may have found one that combats both issues at the same time. The underlying principle is simple – low energy homes have lower fuel bills. However, current mortgage affordability assessments have no way of predicting…

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These Numbers Suggest Yet Another Surge In The Permian

September 4, 2017 OilPrice.com 0

The Permian is the heart of modern oil and gas activity, with well over 300 rigs operating and tremendous growth set to continue. But companies need to continuously drill new wells to fuel this growth, which requires companies to obtain drilling permits from the Texas Railroad Commission (RRC). The current shale resurgence has kept the Commission busy. The RRC has issued 6,262 drilling permits so far this year. There are a total of 53 counties in the Railroad Commission’s Districts 7C, 8 and 8A, where the Permian lies. Drilling permits have…

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