Read more about the article Higher-For-Longer Oil Scenario Is Here To Stay

Higher-For-Longer Oil Scenario Is Here To Stay

Oil prices have been on a climb for over a week now as hostilities in the Middle East continue, and despite recent talk of a glut, the physical market is flashing signs of tightness—and higher oil for longer. Earlier this month, analysts were quick to start warning of an oil glut looming over the world as traffic via the Strait of Hormuz recovered in leaps and bounds amid the U.S.-Iran ceasefire. That was one shaky ceasefire, however, and it broke down soon enough to the apparent surprise of most oil forecasters. Traffic via Hormuz is once…

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Read more about the article With The U.S.-Iran Deal Collapsing, How Exposed Are Oil Markets Right Now?

With The U.S.-Iran Deal Collapsing, How Exposed Are Oil Markets Right Now?

Even before the 30-day mark was reached in the 60-day negotiating process that would see the 14-point memorandum of understanding (MOU) agreed between Washington and Tehran crystallise into a full and final peace deal, the starting point for the whole process has been broken by both sides. U.S. Central Command (CENTCOM) and President Donald Trump stated that Iran had violated the MOU by firing on commercial vessels in the Strait of Hormuz, enforcing pre-approved shipping routes, and threatening to collect transit tolls. In response, the U.S. military…

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Read more about the article Why India Could Dominate The Sustainable Aviation Fuel Market

Why India Could Dominate The Sustainable Aviation Fuel Market

Last year, the International Air Transport Association (IATA) revealed that sustainable aviation fuels (SAF) production represents only 0.6% of total jet fuel consumption, well below the 65% target by the global aviation industry to reach net-zero carbon emissions by 2050. SAF currently costs two to five times more than conventional jet fuels, with the hefty price premium creating a significant economic barrier for airlines that operate on razor-thin margins.  Additionally, there is not enough global refining capacity or raw materials such…

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Read more about the article Oil Market Loses Its Safety Net as Iran Conflict Reignites

Oil Market Loses Its Safety Net as Iran Conflict Reignites

The global oil market is much more exposed to the latest re-escalation in the Middle East, as most of the buffers that cushioned the initial shock of the Iran war are wearing thin and unable to prevent the next oil price spike. For weeks, market participants were too complacent that the U.S.-Iran memorandum of understanding would reopen the Strait of Hormuz and the oil flows would recover steadily by the end of the third quarter. The reality dawned on the oil market last week, when the re-escalation all but closed the Strait of Hormuz, again, and…

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Read more about the article Why the EU Still Can’t Agree on Its Next Round of Russia Sanctions

Why the EU Still Can’t Agree on Its Next Round of Russia Sanctions

Many European Union diplomats thought that it would become easier to approve sanctions on Russia after the departure of former Hungarian Prime Minister Viktor Orban in May, after 16 years in power. Seen as the most Kremlin-friendly leader in the bloc, other European politicians and diplomats had often lamented that Budapest had watered down both the blacklisting of key Russian individuals and measures aimed at weakening Moscow’s economic and military prowess. So, expectations were high when the European Commission’s proposal for a 21st…

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Read more about the article The U.S. Needs 5000 Miles of New High-Voltage Lines Annually. It Only Built 392

The U.S. Needs 5000 Miles of New High-Voltage Lines Annually. It Only Built 392

There is an old Yiddish expression that translates literally as “stop beating the teapot” which we would freely translate as, “We’ve heard this before, so why don’t you just stop?” Well, as new numbers come out and our great leaders keep coming up with new solutions to whatever they think ails the energy sector, we just can’t resist. So here they are, the latest yearly average of miles of high-voltage transmission added to the grid since 2010: Transmission lines of under 345KV are largely used for local…

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Read more about the article Russia’s Financial Crisis Casts a Shadow Over Central Asia’s Nuclear Future

Russia’s Financial Crisis Casts a Shadow Over Central Asia’s Nuclear Future

Kazakhstan and Uzbekistan may soon have to rethink their plans to develop nuclear energy. Rosatom, the Russian nuclear entity that has agreements to build nuclear plants in both Central Asian nations, is experiencing major financial difficulties. Alexei Likhachev, Rosatom’s boss, has announced the entity is cutting its investment program by nearly 50 percent this year due to “poor economic conditions.” Likhachev also said Rosatom would strive to slash operating costs by 10 percent within the next 18 months. "We immediately…

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Read more about the article New Zealand Oil Explorers Rush to Secure Offshore Permits Before Election

New Zealand Oil Explorers Rush to Secure Offshore Permits Before Election

Small oil and gas companies are vying to secure exploration permits offshore New Zealand in the coming months before a potential reinstatement of the drilling ban in the country. Last year, New Zealand reopened for oil and gas exploration, ready to receive applications for exploration projects after a seven-year pause, following the lifting of a ban on such activity installed by the previous government. The upstream policy reversal has not led to new drilling contracts so far. But some of the oil and gas firms willing to secure permits…

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Read more about the article Nigeria Targets Record 3 Million Bpd Oil Output by 2030

Nigeria Targets Record 3 Million Bpd Oil Output by 2030

Nigeria is set to ramp up crude oil production to 3 million barrels per day by 2030, according to the country’s upstream regulator, which says reforms aimed at accelerating investment and reducing project delays are beginning to reverse years of declining output. The target would nearly double the country’s current crude production and mark the highest level in Nigeria’s history, according to Bloomberg.  The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the government’s objective remains achievable…

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