Record US Crude Exports, Rising Shale Output Boosts Oil Flow to Houston
Oil pipelines from the top U.S. shale field to Houston that have run half empty are filling again as rising output has absorbed most of the space on lines to the main south Texas export hub in Corpus Christi.U.S. crude exports climbed to a record of about 4.5 million barrels per day (bpd) in March, spurred by recovering Chinese demand and competitive pricing for U.S. oil. Sanctions on Russian crude purchases by the European Union and Britain also have boosted demand.Pipelines…
Russian ‘Spy Ship’ in the North Sea Raises Concerns About Maritime Infrastructure Security
A new documentary produced by a consortium of public broadcasters in Sweden, Denmark, Finland and Norway has revealed what appears to be a profound threat to maritime and undersea energy and data infrastructure in the North Sea and the Baltic region. The Shadow War includes footage of a Russian research vessel called Admiral Vladimirsky allegedly collecting data on windfarms, gas pipelines, power and internet cables.The film, which has been widely reported in the UK press this week, asserts that Russia is systematically mapping the vulnerabilities of maritime infrastructure in the North Sea.
Aus Upstream Capex Touches at US$10bln pa
The Australian renewable energy pipeline is surging above 100GW of solar, wind and utility storage projects. Investment is currently matching upstream capex, at US$10 bn per annum.Only 1GW is currently owned by Upstream companies – the majors, said Rystad Energy, the energy research and business intelligence company.By the end of the decade, upstream companies will be the dominant renewable developers in country and regionally. The driver will be economics as much as an increasing desire to ride the solar-coaster.Woodside and Santos are absent from the chart (for now) but both are making strides in the sector. Woodside is focusing on…
Offshore Oil Service Firms Dominate Energy Bankruptcies
Offshore oil drilling and service companies, hurt by the energy industry's shift to lower-cost shale and away from deepwater projects, are dominating the year's energy bankruptcies in North America, according to law firm Haynes and Boone. There were fewer oilfield service companies seeking protection this year than last but those that did have had larger debts. Through October, 44 oilfield services companies filed for bankruptcy in the United States and Canada owing creditors $24.8 billion, compared with 72 companies and $13.48 billion for all of 2016.
Global Clean Energy Investments Fall Again
Clean Energy Pipeline, the online daily financial news and data service dedicated to the clean energy sector, released its preliminary analysis of venture capital, private equity, project finance, mergers and acquisitions and public markets activity during 4Q13 and 2013. New investment in the global clean energy sector totalled $58.2 billion in 4Q13, a 15% increase on the $50.7 billion invested in 3Q13 but a 21% decrease on the $74.1 billion recorded in the corresponding period in 2012. Despite the quarterly increase, total investment throughout 2013 decreased 20% year-on-year to $212 billion. Total investment in the global clean energy sector has now fallen for two consecutive years.
