A shot heard round the world Last November 27, OPEC sparked the decline in crude oil prices that would see both international benchmark Brent crude, and U.S. benchmark WTI crude, lose more than 50% of their value. The group decided to move away from its traditional role of maintaining a reasonable crude oil price in order to protect its market
After Paris: U.S. and Russian air strikes target ISIS’s $50 million monthly oil revenues As the battle against ISIS continues, allied forces are increasingly targeting oil assets and the convoys of trucks being used to smuggle oil from ISIS-controlled oilfields. The idea is to cut off the major source of funding for the Islamic State’s barbaric terrorist activities. It is
An interview with Corey Goulet, President of Keystone projects for TransCanada. Editor’s Note: In March 2015, Oil & Gas 360® interviewed Corey Goulet, boss of the Keystone XL pipeline project. Today (Nov. 6, 2015), the U.S. State Department and the Obama Administration officially denied TransCanada’s application to build the Keystone XL pipeline. In light of today’s announcement, Oil & Gas 360®
Renewables continue growth Renewable sources of energy continue to grow in importance both inside the U.S. and internationally. Solar energy makes up an important portion of the overall renewable energy mix, but the growth in total capacity has slowed along with installation. Historically, Europe has been a strong source of demand for solar energy, but its growth in solar energy
Coast Guard seeks to deliver protection against “invisible” attacks. United States Coast Guard Commandant Vice Adm. Paul F. Zukunft in a keynote address at the Center for Strategic and International Studies on June 15 said that while the U.S. port facilities have hardened their perimeters and they now notify the U.S. Coast Guard of intrusions in order to identify possible coordinated attacks, there is a notable hole
EIA: U.S. remains the largest hydrocarbon producer for the third straight year The United States remained the world’s top producer of petroleum and natural gas hydrocarbons in 2014, according to Energy Information Administration (EIA) estimates. U.S. petroleum production increased by 3 quadrillion Btu (1.6 MMBOPD) in 2014, while natural gas production increased by 5 quadrillion Btu (13.9 Bcf/d) over the
Earlier this year, the U.S. and the E.U. began a sanction regime against Russia in response to the ongoing crisis in Ukraine. The sanctions are being used to target specific industries in the Russian economy, particularly oil and gas, the defense industry and the banking sector. Some companies, such as Russia’s oil company Rosneft (ticker: ROSN), have hired lobbyists to
Increased natural gas production is projected to satisfy 60% to 80% of a potential increase in demand for added liquefied natural gas (LNG) exports from the Lower 48 states, according to recently released EIA report. The report, Effect of Increased Levels of Liquefied Natural Gas Exports on U.S. Energy Market, considered the long-term effects of several LNG export scenarios specified by
Cove Point Begins Construction, Freeport Secures Financing Japanese/Asian Customers Lock Up Capacity of Both Projects With three years of governmental review and permitting out of the way, Dominion (ticker: D) announced today it has begun construction activities on its Cove Point LNG Export project on the western shore of the Chesapeake Bay in Maryland. The estimated price tag to add
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