When energy analysts and the media discuss the price of crude oil, they are typically referring to one of a small group of specific types of crude oil that are widely and actively bought and sold. The use of such benchmark crudes makes it easier for buyers and sellers to price the variety of crudes that are produced around the world.
The world needs a full transition towards a low-carbon economy
Natural gas is creating a new reality for economies around the world.
The Ukraine crisis caused relations between Russia and the EU to fall to their lowest point since the Cold War. But despite the bickering and outright conflicts, both still need each other: Europe relies on Russian gas to keep warm, and Russia in turn needs revenues. With winter on its way and capital flight from Russia reaching dangerous levels, the outlook should draw the EU and Russia back together.
The IEA Oil Market Report (OMR) for October reduced its forecast of global oil demand for 2014 by 0.2 million barrels per day (mb/d) from the previous month, to 92.4 mb/d, on lower expectations of economic growth and the weak recent trend. Annual demand growth for 2014 is now projected at 0.7 mb/d, rising tentatively to 1.1 mb/d in 2015 as the macroeconomic backdrop improves.
Increasing access to modern forms of energy is crucial to unlocking faster economic and social development in sub‑Saharan Africa, according to the International Energy Agency’s (IEA) Africa Energy Outlook, a Special Report in the 2014 World Energy Outlook series.
Diversification of gas supply has been a strategic priority for the European Union since its dependence on imports began to grow in the early 2000s.
Statoil ASA (STL), Norway’s biggest energy company, will sell its 15.5 percent stake in the Shah Deniz field in Azerbaijan to Malaysia’s Petroliam Nasional Bhd for $2.25 billion as it seeks to reduce investment and prioritize high-value projects.
The share-price boom at U.S. energy firms has gone bust, due to slumping global growth and tumbling crude prices.
EIA projects average U.S. household expenditures for natural gas, heating oil, electricity, and propane will decrease this winter heating season (October 1 through March 31) compared with last winter, which was 11% colder than the previous 10-year average nationally.
Sanctions against the Russian Federation, more specifically in its energy section, seem to have been gradually nullified due to a counteraction by Moscow, which as of late made significant progress on several long-standing issues that have long-term effects on the global natural gas sector.
The global energy efficiency market is worth at least USD 310 billion a year and growing, according to a new report from the International Energy Agency that confirms the position of energy efficiency as the world’s “first fuel”.
After this summer’s war in Gaza battered Israel’s international reputation, the country’s leaders say they have a new foreign policy tool to build relations with its neighbors: natural gas.
Canada is one of the world's five largest energy producers and is the principal source of U.S. energy imports.
Malaysia is the world's second-largest exporter of liquefied natural gas and the second-largest oil and natural gas producer in Southeast Asia, and is strategically located amid important routes for seaborne energy trade.