Saudi Arabia

Cal on July 26th, 2017

“Currently, there seems to no plan to end the oil glut in sight. The glut seems likely to continue into next year unless a geopolitical upheaval in Venezuela or the Middle East brings about large, unplanned production cuts.” (Energy analyst, Tom Whipple) As of this month, the total US shale basin is producing a record […]

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Cal on May 28th, 2017

The world’s largest oil producers agreed this week to continue to hold back oil production for another nine months in a bid to raise sluggish world crude oil prices. The deal was agreed between members OPEC and non-OPEC producers including Russia. The participants said they would continue to make cuts of 1.8 million barrels of crude oil a day until March […]

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Cal on April 25th, 2017

Demographers have forecast that India may have the largest population in the world as early as 2022, surpassing China. The US Geological Survey reported that two formations in the Gulf Coast Basin might contain as much as 304.4 trillion cubic feet of natural gas plus 1.9 billion barrels of natural gas liquids, making the area the largest […]

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Cal on April 19th, 2017

    China continues to increase its electricity generation from coal, which was up 7% year over year in the first quarter. As domestic coal production only increased by 4% during this quarter, the result is a surge in demand for imported coal which is expected to be 30 million tons higher this year than last year. […]

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Cal on April 11th, 2017

Fitch Ratings Agency is forecasting that global crude oil prices will average $52.50 this year, up from $45.10 in 2016. This figure is still believed to be below the breakeven point for most Middle Eastern oil exporters. Only Kuwait, which is said to have a breakeven point of $45 a barrel is well below the […]

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Cal on March 28th, 2017

In the US city of San Diego, California the local electric utility has installed a new battery energy storage facility that will store up to 2 megawatts of electricity — enough to power 1,000 homes for four hours. San Diego Gas & Electric’s vanadium redox flow battery substation will store energy from solar panels and release it when resources are […]

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Cal on March 26th, 2017

The US Energy Information Agency (EIA) forecasts US shale oil production will rise by some 300,000 barrels per day this year and another 500,000 b/d in 2018. Industry sources talk about increased efficiency and production gains, suggesting to many that the EIA’s forecast is conservative and that the US shale oil production increase may be higher. […]

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Cal on February 23rd, 2017

China’s current Five-Year Plan envisions building seven new nuclear reactors a year between 2016 and 2020. China currently has 36 nuclear reactors in operation, 21 under construction and more waiting to start. There were only 174 crude oil and natural gas discoveries worldwide last year, compared to an average of 400-500 per year up until […]

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