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Germany now generates over 35 percent of its yearly electricity consumption from wind and solar sources. Over 30 000 wind turbines have been built, with a total installed capacity of nearly 60 GW. Germany now has approximately 1.7 million solar power (photovoltaic) installations, with an installed capacity of 46 GW. This looks very impressive. Unfortunately, most […]

Since the end of the 1990s Egypt has dreamt of becoming an East Mediterranean gas and energy hub. The discoveries offshore in the Nile Delta at the end of the 20st Century, that kickstarted the LNG boom sparked hope, but regional and internal conflicts which led to the removal of president Husni Mubarak and the […]

Conflicts in the Middle East attract an entanglement of interventions, any of which could turn the region into a powder keg, and Turkish intervention in Libyan civil conflict adds a new dimension. Turkey’s parliament approved a bill to deploy Turkish troops to Libya to assist and advise the forces of Government of National Accord against the […]

Enbridge, which wants to change the contract terms on the largest Canadian oil pipeline network, believes that Canadian producers who have opposed that change may want to stall a review of the proposal in the hope that the fate of the other pipelines in the works could become clearer soon, a senior Enbridge executive told […]

The world’s largest oil exporter, Saudi Arabia, significantly raised its crude sales to the world’s largest oil importer, China, in 2019, boosting its exports to China by 47 percent and beating Russia for the top Chinese supplier spot for the first time in four years, according to Chinese customs data as carried by Reuters on […]

Chevron Corporation (NYSE: CVX) posted a fourth-quarter loss of $6.6 billion versus earnings of $3.7 billion for the same period of 2018, on the back of massive write-offs of $10.4 billion predominantly in its U.S. shale gas assets.   Chevron’s quarterly loss, which was the steepest in a decade, did not surprise analysts and Wall […]Read More

Russian oil firm Tatneft could strike a deal with Zimbabwe to supply fuel to the crisis-stricken African country in exchange for diamonds, the Zimbabwe Independent reported on Friday, describing the potential deal as ‘murky’ because Zimbabwe’s Minister of Mining, Winston Chitando, told the news outlet that he was not aware of any such development.   […]

The oil market is “troubled by both rising demand worries and rising fuel stocks,” said Ole Sloth Hansen, head of commodities strategy at Saxo Bank A/S in Copenhagen. “It’s going to take a firm commitment by OPEC+, or rising geopolitical tensions, to achieve a sustained recovery.” (Click to enlarge) (Click to enlarge) (Click to enlarge) […]

What we’re most likely to see as anti-US and anti-Iranian protests continue to consume Iraq is a compromise that allows U.S. influence to remain under the guise of NATO, or a compromise that allows the U.S. to withdraw while appearing not to have–whichever way you wish to interpret it.  Already, the groundwork is being laid […]Read More

Market Movers The biggest thing moving the market this week continues to be the China-originating coronavirus as flight cancellations pick up momentum, cutting down massively on jet fuel demand, while some analysts have predicted oil could slip dangerously close to $50 a barrel before the crisis is over. Russia has now closed its 2,600-mile border […]

Friday January 31, 2020 In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s take a look. […]

The Fed met this week, and there were really no surprises. They left interest rates unchanged as expected, and the statement and press conference that accompanied their decision reiterated their intention to do whatever it takes to promote growth in the U.S. economy and to try to nudge inflation upwards towards their 2% target. The […]