Energy

Flirting With Disaster: the Return of Offshore Drilling

It’s been decades since a fisherman out of Montauk on Long Island told me about seeing a ship in the Atlantic Ocean east of Long Island similar to those he had seen searching for oil in the Gulf of Mexico when he was a shrimper there. Karl Grossman CounterPunch I telephoned oil company after company and each gave a firm denial about having any interest in looking for petroleum off Long Island. That was until a PR man from Gulf ... Read More »

Lebanon asserts against using maritime borders for gas pipeline from Israel to EU

Lebanon on Thursday warned its Mediterranean neighbours that a planned EastMed gas pipeline from Israel to the European Union must not be allowed to violate its… Devdiscourse Beirut has an unresolved maritime border dispute with Israel – which it regards as an enemy country – over a sea area of about 860 sq km (330 square miles) extending along the… Israel is hoping to enlist several European countries in the construction of a 2,000 km (1,243 miles) pipeline linking vast ... Read More »

ExxonMobil makes biggest natural gas discovery in two years off the coast of Cyprus

ATHENS- Exxon Mobil announced on Thursday that it has made the world’s third-biggest natural gas discovery in two years off the coast of Cyprus in the Eastern Mediterranean at the Glaucus-1 well. Nasos Koukakis CNBC The region is already know for some of the world’s largest such discoveries. It wants to become an alternative energy source for Europe. Based on preliminary interpretation of the well data, the discovery could represent a natural gas resource of approximately 5 trillion to 8 ... Read More »

The golden age of hydrocarbons has finally reached SA

JOHANNESBURG – There is is no gentle way of announcing it, or more telling, a more sophisticated way of avoiding saying it, that South Africa has officially entered its golden age of hydrocarbon extraction. Ambassador Bheki Gila In spite of the voices of sceptics, their disbelief not so much the fact that we have entered the age, but that it is golden, it would be naiveté of a disturbing kind that the country keeps walking into an age unbeknown to ... Read More »

Australia Really Should Be Panicked About Coal

While China may not have banned imports yet, long-term demand is set to plummet globally. Mihir Sharma Bloomberg Sydney is a wonderful, modern town. But, over the past few days, all anyone here has wanted to talk to me about is that most 19th-century of industries: coal. It’s not hard to see why, after a startling report last week — quickly denied — that some Chinese ports had blocked shipments of Australian coal. The Australian dollar briefly tanked on the news. Australia’s trade ... Read More »

The Eastern Mediterranean Gas Forum

A Lebanese perspective Energy ministers from Egypt, Cyprus, Greece, Israel, Italy, Jordan, and the Palestinian Authority took an important step toward establishing an Eastern Mediterranean Gas Forum (EMGF) on January 14, in Cairo. Mona Sukkarieh Executive According to the declaration that followed the meeting, the EMGF will, among other things, assist in the creation of a regional gas market, ensure the security of supply and demand, optimize resource development, facilitate the… The forum’s raison d’être is regional energy cooperation. Almost ... Read More »

GOM Region-Wide Sale to Offer 14,700 Blocks in Shallow, Deepwater

The Interior Department’s Bureau of Ocean Energy Management next month plans to offer 78 million acres for oil and natural gas prospecting in the Gulf of Mexico (GOM), basically all available unleased areas in federal waters. Carolyn Davis NGI Lease Sale 252, scheduled to be livestreamed on March 20 from New Orleans, is to include nearly 14,700 blocks that are three to 231 miles offshore, in the Western, Central and Eastern planning areas in water depths that are nine-to-11,115 feet. ... Read More »

Israel’s Leviathan Energy Prize: Where Will The Gas Go?

Israel is finally emerging as a natural gas player in the Mediterranean. In the last week of January, the Israeli Navy conducted a complex drill simulating attacks on the country’s offshore oil and gas infrastructure. Ariel Cohen Forbes The exercise included coordinated operations between dozens of naval vessels and aircraft, and even incorporated a live-fire missile test against an abandoned cargo vessel (imitating an enemy transport… Israel’s week-long “Raging Sea” operation comes on the heels of two joint military drills ... Read More »

New areas in Crete made available for hydrocarbon explorations

The Hellenic Managing Authority for Hydrocarbons is launching the process that will make new areas available for the exploration and production of hydrocarbons in the maritime area south of… Nefeli Tzanetakou ibna These are maritime plots that had remained unassigned in previous concessions and whose data and been reassessed and enriched. In any case, it is expected that the same successful model will be applied, which has mobilized the investment interest of major oil companies, such as French Total, American ... Read More »

Egypt says “NO” to East Med

An unequivocal “no” from Egypt received the East Med gas pipeline. Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, in an interview with the Cyprus News Agency, said he was opposed to the transportation of gas from East Mediterranean to Europe via the East Med pipeline. Nefeli Tzanetakou ibna He even justified his position by saying that the feasibility study for this project would last up to two years, which in itself is a luxury the region of ... Read More »

EU adopts French, German compromise on Nord Stream 2 pipeline to Russia

Overcoming differences between Paris and Berlin, EU diplomats reached a deal on the pipeline, placing stricter regulations on the project. France said it wanted to “ensure European control” of its own energy needs. DW France and Germany have reached a compromise that will allow Berlin to remain the lead negotiator with Russia on the Nord Stream 2 gas pipeline, European leaders confirmed on Friday. “Regarding the gas directive, we have reached an agreement and this was possible because Germany and France worked closely together,” ... Read More »

A draft plan from Puerto Rico’s utility reveals a huge shift towards solar power

The island’s future is slowly bending towards renewables, with ambitious plans for the future. Ε. Α. Crunden Think Progress A year and a half after Hurricane Maria, Puerto Rico is increasingly looking towards more resilient energy sources as the island works for long-term recovery. According to a draft version of the 2019 integrated resource plan (IRP) from the publicly-owned Puerto Rico Electric Power Authority (PREPA), renewable energy is increasingly appealing for the island. The IRP, shared with ThinkProgress, lays out ... Read More »

Israel Boosts Protection Of Gas Fields, Shipping

TEL AVIV: With over 80 percent of Israeli’s commerce carried by sea and its offshore gas fields crucial to the economy, the country is boosting spending on protecting its shipping lanes, littorals and… Arie Egozi Braking Defense Hezbollah sees the large natural gas reservoirs and the rigs that probe them in the Mediterranean as potential targets and this puts heavy pressure on the Israeli navy to safeguard them. David Ben–Bassat, former commander of the Israeli navy, told Breaking Defense that ... Read More »

Revolt and Repression in Zimbabwe

The Zimbabwean government’s decision to hike fuel prices has sparked fierce opposition.  Piers Pigou What triggered this explosion of unrest? In this Q&A, Crisis Group’s Senior Consultant Piers Pigou explains how economic hardship is driving ordinary citizens to unprecedented acts of resistance. On 12 January, in response to persistent fuel shortages compounded by manipulation and mismanagement of a currency crisis, President Emmerson Mnangagwa announced a fuel price hike of over 200 per cent to $3.31 per litre – making the ... Read More »

Energy price cap could leave customers £200 a year out of pocket

Householders could be left more than £200 a year out of pocket as the energy regulator has admitted a cap on bills which comes into force today could reduce the number of customers shopping around for a… Sam Meadows Telegraph The cap, which applies to the default energy tariffs paid by consumers after any fixed-rate period comes to an end, prevents suppliers charging the average household more than £1,137 a… Ofgem said the cap will help the 11 million households ... Read More »

Energy price cap could mean people missing cheapest deals, warns consumer champion

Which? said the cheapest tariffs had vanished from the market as suppliers prepared for the cap’s implementation Joe Watts Independent Theresa May’s energy price cap which comes into force on Tuesday could mean people missing out on the cheapest electricity and gas prices, the UK’s foremost consumer group has warned. Which? said some of the cheapest tariffs available had been vanishing from the market as suppliers adjusted their operations in the run-up to the cap’s implementation. The prime minister argued the cap would cut bills for millions ... Read More »