2019-03-01 12:15:00
OIL PRICES WILL BE $60-$70
PLATTS - The next 10-15 years will be a period of stable development for the oil industry and prices will remain relatively high at $60-$70/b, the CEO of Lukoil, Russia's second-largest crude producer, said Wednesday.
"Forecasting prices is a thankless task, but there is reason to expect that they will be relatively high," Vagit Alekperov said during a speech to the Federation Council, the upper house of the Russian parliament.
Alekperov cited the longer-term impact of the 2014 price collapse and forecasts for a slowdown in US production growth as underpinning the forecast.
"The investment depression after the price fall in 2014 must have an effect. The world has not yet really felt the consequences. The significant inertia in the industry and the long investment cycle before production means that the impact, according to our estimations, will only really be seen starting from 2022," Alekperov said.
Those factors and their impact on prices should allow the market to remain balanced after 2025, he said.
Alekperov also discussed the impact of new digital technology on oil production costs. "Today the industry is in the early stages of implementing digital solutions. According to our estimates, they may lead to a drop in the cost of production by 10-20% by 2035."
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Earlier:
2019, March, 18, 13:10:00
BRENT OIL: UNDERVALUED
In the context of supply and demand balance,the current price of BRENT oil is undervalued.Neither OPEC nor the IEA has considerably brought down their forecasts for global oil demand in the current year.
2019, February, 27, 09:50:00
РЫНОК НЕФТИ СТАБИЛЕН
МИНЭНЕРГО РОССИИ - “Сегодня мы видим на рынке более-менее спокойную, стабильную ситуацию, невысокую волатильность и более-менее приемлемые цены, которые устраивают и экспортеров, и потребителей. Мы считаем, что благодаря сделке, в первую очередь, достигнута такая стабильность”, - подчеркнул Александр Новак.
2019, February, 27, 09:45:00
OIL MARKET BALANCE
Abu Dhabi: Energy Minister Suhail Al Mazroui said the oil market is on the “right track” and that the market will quickly return to balance in the first quarter of this year.
2019, February, 27, 09:40:00
OPEC CONTINUE CUTS
REUTERS - Based on current market data, the so-called OPEC+ group is “likely to continue with the production cuts until the end of the year”, the source told Reuters.
2019, February, 20, 11:40:00
СПРОС НА ЭНЕРГИЮ РАСТЕТ
МИНЭНЕРГО РОССИИ - По словам Александра Новака, энергетическая отрасль всего мира сегодня нуждается в высококвалифицированных специалистах: «Мы знаем, что потребление энергии в мире будет постоянно увеличиваться, поэтому нам необходимы новейшие технологии и подготовленные специалисты», - подчеркнул значимость Центра компетенций глава Минэнерго России.
2019, February, 18, 12:25:00
OIL DEMAND GROWTH 1.4 MBD
IEA - Growth in 4Q18 was robust at 1.4 mb/d y-o-y and for 2018 as a whole growth was 1.3 mb/d.
2019, February, 15, 11:50:00
BP ENERGY OUTLOOK 2019
BP - The 2019 edition of BP’s Energy Outlook, published today, explores the key uncertainties that could impact the shape of global energy markets out to 2040. The greatest uncertainties over this period involve the need for more energy to support continued global economic growth and rising prosperity, together with the need for a more rapid transition to a lower-carbon future.
Chronicle:
2022, June, 28, 11:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
2022, June, 28, 11:43:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023
Link to the Congress website: https://bit.ly/3tXVmr7
2022, June, 28, 11:40:00
S.KOREAN NUCLEAR SUPPORT
South Korea’s new president, Yoon Suk-yeol, said on 22 June that in order to rebuild the nuclear industry that was “devastated by the previous administration”, the government will allocate KRW92.5 billion ($70 million) from the energy budget for the restoration of nuclear power generation capacity.
2022, June, 28, 11:35:00
U.S. SMR FOR ROMANIA
Romanian company Nuclearelectrica and NuScale will cooperate with the US Trade and Development Agency (USTDA) on a series of engineering and design activities and studies, as well further technical analyses of the Doicești site, a former thermal power plant site which has been identified as a potential location for the SMR plant.
2022, June, 28, 11:30:00
U.S. SOLAR POWER 25%
US Energy Information Administration reports a capacity factor of 25% for solar generation.
2022, June, 28, 11:25:00
AUSTRALIAN SMART ENERGY
As energy is of national importance, a national policy, national rules and regulations are necessary. At the same time, we are facing massive changes in the energy sector.
2022, June, 27, 11:45:49
OIL PRICE: BRENT NEAR $113, WTI ABOVE $107
Brent edged down 8 cents to $113.04 a barrel , WTI was at $107.38 a barrel, down 24 cents.