Exxon has lost over $1 Billion from Russian sanctions October 17, 2016 Exxon has turned into a collateral victim of the U.S. economic sanctions against Russia. So while supermajor BP’s chief executive Bob Dudley said earlier this week that he was “a little saddened” with the way the Deepwater Horizon movie has painted his company, Exxon’s Rex Tillerson has perhaps an even greater reason to be a [...]
The energy celebrity that rose from the presidential debate October 13, 2016 The US has quite the penchant for creating celebrities. The manufactured stars that we already have at our disposal are never enough. Like Rice Krispie treats, you tell yourself “just one more” but there is always the next YouTube sensation—or in this case, a private citizen who manages to pique our interest, at least for a [...]
Is 2016 the turning point for energy storage? October 12, 2016 In the future, when investors look back at the year that represented the turning point for clean energy, 2016 may be it. The industry overall is growing at a breath-taking pace, but perhaps not for the reason that some investors think. Energy storage, rather than solar power and wind power, are the real factors that [...]
New oil discovery in Alaska could reverse three decades of decline October 10, 2016 A minor oil firm just announced that it has made a “world-class” discovery in Alaska, which could be the largest find in the state in years. Caelus Energy LLC, a small company backed by private equity, says that it has discovered oil on Alaska’s northern coast. The field could hold as much as 6 billion barrels [...]
Goldman Sachs warns ‘oversupplied’ market will curtail crude price rise October 6, 2016 Crude prices are unlikely to pass $55 in the near term, Goldman Sachs’s head of commodities research Jeff Currie has said in an interview with Bloomberg television. A recent rally in prices will be curbed by low-cost players such as Russia, combined with an upcoming ‘wall of supply’ from large-scale projects commissioned in the past 5-10 years, [...]