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IOCs enhanced resilience at low oil prices in 2018

Companies | UCERGY Insight | 19/02/2019 | 16:14 GMT

Despite the 40% decline in oil prices in the fourth quarter in 2018, International Oil Companies (IOCs) have reported increased production of hydrocarbons ranging from 1-23% including major oil firms. Among those oil producer, which reported their results… [read more]

Oil could soon be transforming Guyana’s economy

Oil | UCERGY Insight Journal | 08/02/2019 | 01:09 GMT

Guyana, an English-speaking country on South America’s north Atlantic coast on the eastern side of Venezuela, is set to become a major producer of hydrocarbons...[read more]

BP performance and oil price expectations

Companies | UCERGY Insight Journal | 06/02/2019 | 20:52 GMT

BP has doubled its earnings compared with last year while achieving $26.1 billion cash flow and $12.7 billion net profits for 2018. Major drivers for the enhanced performance include increased oil and gas production, with six major projects last year, and enhanced refining capabilities with existing fields which lowered the impact…[read more]

Potential implications of Venezuela’s production decline

Oil | UCERGY Insight Journal | 05/02/2019 | 02:47 GMT

Venezuela’s oil production could decline to less than 1 million barrel per day, from a current production level of 1.1 million per day, says a new report published today by Wood Mackenzie. This comes as a result of imposing the US sanctions..[read more]

Aramco Hydrogen Initiative: What does it mean for the oil industry?

Opinions | By Yousef Alshammari | 29/01/2019 | 16:53 GMT

Saudi Aramco has unveiled its plan to launch a hydrogen refuelling station in Dhahran in partnership with Air Products, an initiative which will be the first of its kind in the Middle Eastern region..[read more]

Exxon doubles its crude refining capacity in Beaumont

By UCERGY Insight Journal on January 29th, 2019 | 22:23 GMT

Driven by the significant increase in the US shale oil production, ExxonMobil has announced today it will add a new crude processing unit to its Beaumont refinery in Texas which will increase its processing capacity by 250 tbbl/d [read more]

Keeping Chilled in a Warming World

Opinions | By Julian Hunt on January 29th, 2019 | 23:24 GMT

Regardless of the causes of global warming, we can be sure that the Earth is warming and so air-conditioning demand. It is expected that air-conditioning demand will rise 30% by 2050 due to increase in population, wealth and world temperatures [read more]

Key Takeaways from the EIA Outlook

By UCERGY Insight Journal on January 28th, 2019

The US Energy Information Administration (EIA) has just released its Annual Energy Outlook (AEO) for the year 2019 which shows a significant increase in the production of oil, natural gas, and renewable sources of energy, particularly wind [read more]

China’s Oil Demand Strong Despite Economic Slowdown

By UCERGY Insight Journal on January 27th, 2019

China continues to exhibit strong oil demand which rose by 3.5% this year, to 10.7 million barrels a day, compared with 4.3% average growth in the past years, despite its slow economic growth which is expected to be 6.2% in 2019 [read more]

Growth in shale was due to investments, Not price

By UCERGY Insight Journal on January 23th, 2019

According to the US Energy Information Administration (EIA), the US oil production increased from 6 mbbl/d, in 2010 to 9 mbbl/d, in 2015, and further to 11.7 mbbl/d in 2018. Most of the growth in the US oil production was in the Permian and Bakken fields [read more]

Electricity demand grows two times faster than energy demand

By UCERGY Insight Journal on January 22th, 2019

The growth in energy demand has been driven by economic growth in emerging economies including China, India, and the ASEAN countries. However, the growth rate of electricity demand has become double the rate of energy demand driven mainly by air conditioners [read more]

What might energy leaders discuss in Davos 2019?

By UCERGY Insight Journal on January 22th, 2019

The Davos meeting this year is equally taking place at a time of critical uncertainty of slowing global energy demand, slowing economic growth in China, expected recession, and the expected rise of interest rates by the US Federal Reserves [read more]

Could Natural Gas be a future transport fuel?

By UCERGY Insight Journal on January 21th, 2019

The use of natural gas as a transport fuel has been a well-established practice. However, it accounts for a very small share of the global passenger fleet, with only around 17 million natural gas vehicles (NGVs) worldwide served by 24 thousand refuelling stations [read more]

Blockchain-Based Oil Trade: Opportunities and Challenges

By UCERGY Insight Journal on January 17th, 2019

Oil companies including Chevron, Total, and the Indian refining giant, Reliance, have formed a new consortium for a blockchain-based oil trade digital platform, VAKT, considered to be the first of its kind [read more]

Recent Energy Development in Latin America and the Rule of Law

By Rodolfo Rueda Ballesteros on January 16th, 2019

According to the World Energy Issues Monitor issued by World Energy Council, Latin America and the Caribbean region (LAC), especially southern LAC countries are still dealing [read more]

Lower car sales in China could reduce its oil demand in 2019

By UCERGY Insight Journal on January 15th, 2019

China has had an unprecedented decrease in the number of internal combustion cars this year with total sales of 28.08 million cars, a decrease by 2.8% from 2017. This decrease includes 4.1% drop in passenger-cars sales [read more]

How could the Caspian field change the gas landscape in Europe?

By UCERGY Insight Journal on January 14th, 2019

BP is preparing to drill six new exploration wells in Azerbaijan by 2020, in an effort to produce sufficiently high quantities of natural gas to be transported to Europe via a short-cut Trans-Anatolia Pipeline passing through Turkey [read more]

Energy transformation will spark demand for key precious metals

By UCERGY Insight Journal on January 13th, 2019

The increase of shifting to renewable sources of energy will spark a rising demand for many precious metals required to manufacture key of parts of renewable energy technologies, a new report published by the International Renewable Energy Agency (IRENA) says. [read more]

Could Norway be the next leader in Electric Mobility?

By UCERGY Insight Journal on January 8 2019

The Norwegian Road Federation (NRF) has reported that the number of sales of new Electric Vehicles (EVs) has reached a 1/3 of Norway’s total car sales (148 thousand cars) in 2018, a rise by %20.8 from the year 2017 [read more]

The 2019 Energy Agenda, What’s expected?

By UCERGY Insight Journal on January 4, 2019

The year 2018 has had several events that will have a remarkable impact on shaping the energy sector in 2019 across all of its domains, oil and gas, climate change, renewables, trade, and the global economy. The year 2019 will witness continued climate negotiations, while the oil sector [read more...]

Would it be a Happy New Year for the oil market?

BY UCERGY Insight Journal on December 23, 2018

Prices continue to decline driven by rising concerns over a supply glut and the increase in shale oil production but experts see a market balance in early 2019 [read more…]

UCERGY Insight Goes Live with Le Fonti International

BY UCERGY Insight Journal on December 23, 2018

UCERGY Analysts has been hosted in a live TV show by the Italian Business Channel Le Fonti International to share its latest insight on many global issues including oil markets, US oil policy, Brexit, and the future of natural gas. In a 15-minute lively broadcast [read more…]

After securing the Katowice agreement, what’s next for climate action?

By UCERGY Insight Journal on December 17, 2018

Climate negotiations in the Polish city of Katowice have culminated in a major agreement that paves the way for the implementation of the Paris Agreement on climate change. The agreement marks a milestone in the history of climate action as it establishes a framework for [read more]

Wind-Powered Car Manufacturing: A new Mercedes-Benz-Statkraft initiative

By UCERGY Insight Journal on December 15, 2018

Mercedes Benz has announced that it is entering into an agreement with the Norwegian energy giant, Statkraft, to supply wind energy to its car manufacturing plants in Germany in an effort of achieving its 100% CO₂ neutral facilities by 2022. This is the first project [read more…]

Carbon Capture and Storage: Who will pay the cost?

By UCERGY Insight Journal on December 13, 2018

A new report has been launched by the Global CCS Institute at the United Nations Climate Summit (COP24) which highlights the role of carbon capture and storage in curbing carbon emissions and meeting climate goals. Carbon capture and storage is technology [read more…]

Canada’s Oil and Gas Sector Constrained by its Climate Targets

By UCERGY Insight Journal on December 11, 2018

Canada’s oil and gas emissions are rising, and oil companies are weakening the process of energy transition and achieving climate goals, says a new report which has been published by the Canadian Environmental Defence today at the UN Climate Summit taking place in Katowice, Poland [read more]

Reaching a cut deal of 1.2 million barrel, Is it Sufficient?

By UCERGY Insight Journal on December 7, 2018

OPEC and its cooperating allies, the OPEC+, have struck a deal to curb production by 1.2 million barrels, a reduction deal to be reviewed in April 2019. While OPEC countries would contribute by 800 thousand barrels reduction, the non-OPEC countries would reduce by 400 thousand barrels making a total of 1.2 million barrels cut [read more]

The OPEC Meeting: What to expect?

By UCERGY Insight Journal on December 6, 2018

The OPEC 175th ministerial meeting is due to be held this morning in Vienna after the OPEC Joint Ministerial Monitoring Committee (JMMC) meeting was concluded which recommended a production cut of no less than 1 million barrel for six months. The optimism to reach an agreement has been observed so far. However, prices are still in [read more]

The G20 Summit, what does it mean for the energy sector?

By UCERGY Insight Journal on December 3, 2018

The G20, a group bringing together the world’s most powerful economies, concluded its summit in the Argentinian capital, Buenos Aires last weekend with a declaration of major development and support for a course of actions [read more]

Renewing Global Commitment to Nuclear Technology

By UCERGY Insight Journal on November 29, 2018

Nuclear technology as an important element towards achieving the UN Sustainable Development Goals. This has been the theme of the international ministerial conference on nuclear technology held at the IAEA in Vienna, where more than 100 countries, presented their activities and projects in the area of nuclear technologies. Major issues focused on [read more]

Global Advancements in Nuclear Safeguards

By UCERGY Insight Journal on November 8, 2018

The IAEA has hosted the International Safeguards Symposium which brought together more than 500 participants from more than 100 countries to discuss the latest advances in safeguards innovation and technologies. The symposium looked at four key issues; emerging safeguards challenges [read more]

Why have prices risen after the OPEC meeting?

By UCERGY Insight Journal on June 23, 2018

The Organisation of Petroleum Exporting Countries (OPEC) has announced yesterday that they will ease their production cuts to achieve a 100% compliance of the 1.2 mbbl cuts agreed in 2016 between the OPEC member states. Markets have not reacted as expected to this announcement causing the WTI to rise to nearly $69 and Brent to reach close to $76 [read more]

Vienna holds the Austrian World Summit R20

By UCERGY Insight Journal on MAY 15, 2018

Under the patronage of Austrian President Van der Bellen, the city of Vienna hosted its 2^nd Austrian World Summit known as R20 which calls for global action on climate and mitigate carbon emissions. This year the summit hosted the UN Secretary-General Antonio Guterres who [read more]