Oil Price Daily News Update

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Oil Price Daily News Update


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Oil Price Daily News Update

Chinese Premier Announces Clean Energy Push

Posted: 21 Apr 2014 01:53 PM PDT

Chinese Premier Li Keqiang has restated the government’s plans to aggressively build clean energy capacity throughout the country in an effort to reduce air pollution. Li’s announcement, which he made on the central government’s website, comes as major Chinese cities have been suffering from catastrophic levels of smog. Li’s statement laid out plans to build new solar, wind, nuclear and hydropower plants. China is already one of the world’s largest markets for clean energy. It installed a record 12 gigawatts of solar…Read more…

U.S. Funds Nervous About U.S. Sanctions On Russia

Posted: 21 Apr 2014 01:45 PM PDT

Several U.S. funds are concerned about the investment risk posed by potentially broad economic U.S. sanctions on Russia in response to Moscow’s actions in Ukraine. According to Reuters, securities filings submitted by major funds show that fund managers believe that there is a major downside risk to investments in Russian assets. If the U.S. and Europe issue biting sanctions, they could cut into the Russian stock market, contribute to a devaluation of Russian currency, lead to a credit downgrade, or cause asset freezes. These cautionary notes…Read more…

Japan Imports Record Level Of LNG, Coal

Posted: 21 Apr 2014 01:33 PM PDT

Japan reported that it imported record levels of coal and liquefied natural gas for the fiscal year that ended in March. Japan has been forced to import vast amounts of fossil fuels to make up for an energy shortfall caused by its decision to shutter nearly all of the country’s 54 nuclear reactors after the March, 2011 earthquake. The country was already the world’s largest importer of LNG before the disastrous meltdown at the Fukushima I Nuclear Power Plant, but has steadily increased imports since the crisis. Before the disaster,…Read more…

Future Stars of the Energy Sector

Posted: 21 Apr 2014 09:13 AM PDT

I’ve been watching the indexes — one day up, the next down.  It might not inspire confidence but as an energy specialist, I couldn’t be happier – energy issues have done especially well in this choppiness.  That’s not a reason to get comfortable, however – we’re still going to look for value.  And I think we’re going to find it next in natural gas.  Some really oily plays have made us a lot of money recently:  Anadarko (APC) gave us a great settlement on Tronox, Noble (NBL) sits…Read more…

PLUG: Harness The Power Of A Steady Short Squeeze

Posted: 21 Apr 2014 09:10 AM PDT

Five weeks ago, fuel cell stocks, and Plug Power (PLUG) in particular were all the rage. At the end of February, Plug announced a huge contract with Wal-Mart for 1,738 of their GenDrive fuel cell units, to be deployed over the next two years. More importantly in the eyes of many, the deal also included a six year service contract.For a company that had been struggling to gain mainstream acceptance for a disruptive technology, the blessing of the mighty Wal-Mart was a godsend and the stock reacted accordingly. PLUG closed on February 25th, the day…Read more…

Where Would Increased U.S., EU Sanctions on Russia Leave Energy Investors in Ukr

Posted: 21 Apr 2014 09:04 AM PDT

The EU and the US say they will impose “further costs” on Russia over its actions in Ukraine, as unrest continues in the east of the country. Tension has been rising in eastern Ukraine, with pro-Russian activists occupying buildings in more towns. On 14 April White House spokesman Jay Carney warned that Russia’s actions “will come with a cost,” which has Western energy companies deeply invested in Russia, such as Exxon Mobil and BP, increasingly nervous. While Russia denies stoking unrest in eastern Ukraine, British Foreign Secretary William…Read more…

Global Energy Advisory – 18th April 2014

Posted: 21 Apr 2014 08:58 AM PDT

Delays Ahead for Mexico Energy ReformsImplementation of Mexico’s much-awaited sweeping energy reforms is likely to be delayed as lawmakers grapple with secondary legislation that is trying to make its way through a current congressional session, which ends on 30 April. The latest news is that the lawmakers may need “extra weeks” to pass the secondary laws, which have yet to be presented in the session. In December, Mexico’s Congress approved sweeping energy reforms that will end state-run Pemex’s monopoly on crude…Read more…

The 3 Most Important Numbers in Energy – 18th April 2014

Posted: 21 Apr 2014 08:49 AM PDT

The Insider’s weekly run-down of critical figures and happenings from around the energy world.$1.35 billion. Amount that major base metal mining firm GlencoreXstrata is paying to acquire African oil producer Caracal Energy.The miner announced the acquisition this week, which will raise its stake in onshore fields in the central African nation of Chad to 85%. An interesting comment on the state of commodities markets—especially given the company has been exiting assets on the metals mining side of late.  19.3%. Increase in coal…Read more…

Russia’s Arctic Prize Won’t Be As Big As Many Think

Posted: 18 Apr 2014 05:56 PM PDT

Gazprom sent its first shipment of oil from its controversial Russian Arctic offshore platform on April 18, a landmark event that Russian President Vladimir Putin said would contribute to economic growth. “The start of loading the oil produced at Prirazlomnaya means that the entire project will exert a most encouraging influence on Russia’s presence on the energy markets and will stimulate the Russian economy in general and its energy sector in particular,” he said. Putin was on hand to witness to first shipment of 70,000 tonnes…Read more…

Canada Embracing Climate Control Measures to Support Oil Sector

Posted: 18 Apr 2014 05:49 PM PDT

Environmental advocacy groups put Canadian oil sands on the same footing as a weapon of mass destruction. With limited trade options on hand, provincial leaders are now trying to recast the Canadian oil sector’s image with a green hue.The processes involved in exploiting the more viscous form of crude oil found in the Athabasca region of Alberta are viewed as detrimental to human health and the global environment.A government report last week found the emissions tied to oil sands means the Canadian energy industry passed the transportation sector…Read more…

Central Asian Hydroelectric Water Wars Heat Up

Posted: 18 Apr 2014 05:44 PM PDT

Kyrgyzstan’s Toktogul hydroelectric power plant low water levels may cause water shortages this spring and summer for downstream Uzbek cotton farmers. Uzbekistan annually uses 53 billion cubic meters of water for irrigation and during the growing season the country needs an additional three billion cubic meters, which are provided by the Toktogul HPP. Kyrgyz authorities earlier said that this year the Toktogul reservoir had accumulated only eight billion cubic meters of water, instead of 11 billion required for normal operation. To provide…Read more…

Water Wars: The Next Clash between India and China

Posted: 18 Apr 2014 05:41 PM PDT

A China watcher named Claude Arpi has drawn attention to a recently posted article on the website of the Yellow River Conservancy Commission under China’s Ministry of Water Resources. The article speaks of the necessity and feasibility of diverting the waters of some rivers, including the Brahmaputra (called Yarlung Tsangpo in China), to meet water supply needs in China’s arid north and northwest. This further confirms the fact that, in spite of several denials, China is still progressing with the controversial project that could spell…Read more…


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