Archive for the ‘Uncategorized’ Category

Egypt’s Sisi outlines national energy policy at World Future Energy Summit

Egypt has set development and reform of its energy sector as a key priority as it seeks to rebuild its economy following the country’s second revolution in the past few years, the country’s president, Abdel-Fattah el-Sisi, said January 19 during his first official visit to the UAE in that role.

During his keynote address to the World Future Energy Summit in Abu Dhabi, Sisi also said he considered the security of the Persian Gulf region to be “part and parcel of Egyptian security.” The annual Abu Dhabi WFES gathering, while primarily a UAE forum for promoting and discussing regional and international renewable energy development, has also developed a significant political agenda.

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Tata Steel’s possible divestment prompts re-evaluation of Britain’s role in global industry

Tata Steel’s potential sale of its long products division to American Gary Klesch has galvanized UK politicians.

In an opposition day debate in the House of Commons on January 14, Ian Wright, the shadow secretary for business, innovation and skills, said Tata’s decision to quit the longs market did not mean the UK should.

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The crude price plunge and LNG, a tenuous link

Over the last several months there has been much discussion about the impact of falling crude oil prices on the liquefied natural gas market. The conventional argument goes something like this: lower crude prices are making oil-linked LNG contracts cheaper and are putting pressure on the spot market as these contracts increasingly undercut spot prices.

At first glance, this argument appears quite compelling. On January 14, 2015, the price of Platts-assessed Dated Brent was $45.73/b. For buyers using 14.5% slope to crude, not uncommon in the Asia-Pacific market, that would equate to an LNG price of just $6.63/MMBtu. By comparison, the Platts JKM price (a spot index for the Asian LNG market) was assessed significantly higher at $9.38/MMBtu on the same day.

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Taking the veil off North Korean steelmaking

Whether or not North Korea hacked Sony Pictures remains to be seen — the latest news is pointing elsewhere in the case that has fueled international focus around freedom of expression and the film, The Interview.

Always secretive about its industrial might, North Korea does have a fairly robust steelmaking capacity of about 12 million mt/year. Here’s a look:

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New Frontiers: Canada’s LNG projects get a sharp dose of reality

Canada has ambitious and expensive plans to become a major force in the LNG market. But it isn’t going to be easy, as Ashok Dutta explains in this week’s Oilgram News column, New Frontiers.

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The price-cost squeeze, and the impact on energy cash flow

The latest from Steven Kopits of Princeton Energy Advisors, who posts here from time to time. Steven is the Managing Director of Princeton Energy Advisors.  He is currently writing a book on supply-constrained oil markets analysis and can be reached at steven.kopits@prienga.com

From late 2011, my presentations posed a simple question: “What if E&P costs continue to rise, and oil prices don’t?”

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Cairn-Vedanta stuck in Indian bureaucratic impasse

No one in India seems to want to be the one to make a decision on the $9 billion Cairn-Vedanta deal.

Eight months after Cairn Energy announced its intention to sell its stake in Cairn India to Vedanta Resources, the fate of the deal still hangs in balance.

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Some fence mending may be needed in the West Virginia natural gas fields

The natural gas industry in West Virginia was rocked March when 20 members of the 100-member West Virginia House of Delegates asked Governor Earl Ray Tomblin to impose a moratorium on new Marcellus Shale drilling permits.

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Shell Australia upbeat on Prelude LNG; focus now turns to Timor

The mood was buoyant among the 120 or so Shell employees and external stakeholders who gathered Sunday in the company’s hospitality suite to watch the Australian Formula 1 Grand Prix in Melbourne, despite the fact that both drivers from the oil giant’s sponsored team, Ferrari, failed to make the podium.

The source of the excitement? Certainly not the prospects for Shell’s two Australian oil refineries at Clyde and Geelong, whose long-term future in the highly competitive Asia Pacific refining sector is generally conceded to be bleak.

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With ICE not talking, CME points Boca spotlight to WTI crude

The really big fireworks show expected to kick off this week’s Futures Industry Association conference fizzled quickly Tuesday when Jeff Sprecher, CEO and president of IntercontinentalExchange, turned down repeated requests to comment on reports that ICE was teaming with Nasdaq OMX Group in a hostile bid for NYSE Euronext.

“I’m not commenting on anything,” Sprecher said Tuesday on the sidelines of the conference in Boca Raton, Florida, a theme Sprecher seemed to repeat to several reporters throughout the day.

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