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Power & Energy Commodity News

PEGAS: Successful launch

Leipzig, 27 March 2015:

PEGAS, the pan-European gas trading platform operated by Powernext, announces the successful launch of products for the British and Italian gas hubs on 26 March 2015.

Read more: PEGAS: Successful launch

Oil: Why The Latest Rally Needs To Be Sold

London, 27 March 2015: 

Oil prices breached the $50 mark on Thursday as Saudi Arabia and other Gulf states deployed airstrikes into Yemen in defense of the Sunni leadership and against the Shiite Houthi rebels.  While oil has moved upwards rapidly after retesting old lows in the low 40's last week, this latest 4% move in oil is counterintuitive and needs to be sold.

Read more: Oil: Why The Latest Rally Needs To Be Sold

Oil and Gas exploration costs set to fall 33%

Edinburgh, 26 March 2015

The oil and gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed. However in an effort to drive value, Wood Mackenzie says the industry is addressing a long standing cost inflation issue, and asserts that on average exploration costs will fall by a third, softening the blow of budget cuts. Although overall well numbers will dip in 2015, Wood Mackenzie says drilling activity in 2016 is set to recover as many explorers seize their chance to drill at lower costs.

Read more: Oil and Gas exploration costs set to fall 33%

Genscape launches Gulf Coast Crude Fundamentals Report

London, 26 March 2015

With continued incentive to store crude, and Cushing at historic levels, traders look to Gulf Coast; Genscape provides weekly look into factors driving this critical area. Meeting the demands of oil market participants for a holistic and highly accurate view into the key factors driving U.S. markets, Genscape launched its new Gulf Coast Crude Fundamentals Report, which provides weekly insight and analysis based on the company’s proprietary monitoring data for storage, transportation, and refining in the region.

 

Read more: Genscape launches Gulf Coast Crude Fundamentals Report

Seasonal Gas Outlook Webinar

London, 26 March 2015

TODAY: Get Thomson Reuters analysts’ view on where the market is going this summer: Thursday, March 26, 2015 2:00 pm GMT  

Read more: Seasonal Gas Outlook Webinar

Wall Street Losing Millions From Bad Energy Loans

London, 24 March 2015

Oil companies continue to get burned by low oil prices, but the pain is bleeding over into the financial industry. Major banks are suffering huge losses from both directly backing some struggling oil companies, but also from buying high-yield debt that is now going sour.

Read more: Wall Street Losing Millions From Bad Energy Loans

V-shaped recovery in oil prices unlikely

London, 20 March 2015

Brent will average $52/bbl in 2015 and $58/bbl in 2016 according to Bank of America Merrill Lynch Global Commodity Research.

Read more: V-shaped recovery in oil prices unlikely

Solar Eclipse: Can European Grids Pass the Flexibility and Resilience Test?

London, 20 March 2015

The solar eclipse - which will happen today - is raising questions of grid reliability and flexibility in the European power generation market. Grid instability due to the large amount of variable solar power on the grids will drive industry experts to rethink the importance of a flexible and resilient grid infrastructure.

Read more: Solar Eclipse: Can European Grids Pass the Flexibility and Resilience Test?

Rig count down but production steady ...

Denver, 19 March 2015

Oil production from key shale formations in North Dakota and Texas increased by 19,000 barrels per day (b/d), or 1%, in February, according to Bentek Energy, an analytics and forecasting unit of Platts, a leading global provider of energy, petrochemicals, metals and agriculture information.

Read more: Rig count down but production steady ...

100,000 Layoffs and Counting: Is this the New Normal?

London, 19 March 2015

This time a year ago, the oil industry's biggest problem was finding a way to deal with the "retirement tsunami" about to crash down on it as older oilfield workers hung up their cork boots to enjoy freedom-55. Now, with oil prices still in the doldrums, many of those same workers are lucky to be hanging onto their jobs, while others have been booted from the payroll as an ugly wave of layoffs takes hold.

Read more: 100,000 Layoffs and Counting: Is this the New Normal?