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Oil Major Total Sees 10 Million Bpd Supply Gap In 2025
France's supermajor Total is warning that the world could find itself with a shortfall of supply of 10 million barrels per day (bpd) between now and 2025, due to continued underinvestment in the industry, the OPEC+ pact, and cracks in the U.S. shale business model.
read more... 11/02/2021
Daily (10.02.2021): Oil prices at 13-month highs on Tuesday amid supportive factors on the supply and demand side
Crude oil futures continued their rally, to hit their highest levels in 13 months on Tuesday, driven by a series of encouraging factors on the supply and demand side. A weaker dollar provided further support to oil prices. Hence, Brent crude rose by 53 cents, or 0.9%, to settle at $61.09 a barrel. U.S. WTI crude added 39 cents, or 0.7%, to close at $58.36 per barrel. Both contracts had hit their highest since January 2020 after having risen for six straight sessions.
read more... 10/02/2021
UK's 2024,2025 capacity market target cut to 40.1 GW, but year-head target raised
The UK government is seeking to contract 40.1 GW in the next four year-ahead capacity market auction (T-4) for delivery 2024/2025, in an auction due to start March 9, National Grid ESO said Feb. 9.
read more... 10/02/2021
Uniper, Port of Rotterdam mull green hydrogen plant
Maasvlakte, a man-made site on the Dutch North Sea coast, is the gateway to Rotterdam, the biggest bunkering port in Europe. From there, hydrogen could be supplied by pipeline to major industrial complexes in North Rhine-Westphalia, Germany.
read more... 10/02/2021
Novatek sees LNG supply shortfall by 2030
LNG supply could fall short by about 150mn t/yr by the end of this decade without additional FIDs, an issue that "needs to be addressed", Novatek chief financial officer Mark Gyetvay said at the virtual European Gas Conference.
read more... 10/02/2021