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Power & Energy Commodity Reports

US must grasp opportunity to build sustainable energy system

London, 18 December 2014

The United States is in a strong position to deliver a reliable, affordable and environmentally sustainable energy system, the International Energy Agency (IEA) said today as it released a review of U.S. energy policy. To do so, however, the country must establish a more stable and co-ordinated strategic approach for the energy sector than has been the case in the past.

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Winners and Losers from Cheaper Oil

London, 17 December 2014

Oil prices have fallen by around 40% since the middle of the year, and The Economist Intelligence Unit forecasts that lower oil prices will persist. In 2015 we are forecasting that Brent will average $80/barrel, rising slightly to $85/barrel in 2016. The stable, but high, oil price environment seen between 2011 and the first half of 2014 has been undermined by strong growth in non-OPEC supply led by North American production of unconventional oil: namely shale and light, tight oil from the US and oil sands in Canada. At the same time, weaker economic fundamentals have taken their toll on growth in global demand for oil. These supply and demand factors put together have sent oil prices crashing since July.

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Short-term investment models for shale make it more vulnerable to project cuts

London, 15 December 2014

With oil prices plummeting to a five year low, and project cut backs likely in 2015, short-term funding for US shale may lose out to the country’s higher cost deep water developments, the latest article by leading petroleum industry advisor Gaffney, Cline and Associates (GCA) suggests.

Read more: Short-term investment models for shale make it more vulnerable to project cuts

Trebling in insolvencies in UK Oil & Gas Services

London, 15 December 2014

The number of insolvencies of UK oil and gas services companies has trebled in the last year  compared to the year before, with 18 businesses becoming insolvent in 2014 compared to 6 in 2013 (12 months to 30 September), according to research by Moore Stephens, the Top Ten accountancy and consultancy firm.

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Geopolitical tensions and US shale oil are transforming the oil market

London, December 2014

With geopolitical risks threatening oil supply at the same time as US shale oil flows across the market, the future of the global oil industry looks uncertain. Simon Redmond, Global Industry Focused Team Director at Standard & Poor’s Ratings Services and Stuart Elliott, Editorial Director at Platts Energy Research Company, met to discuss why investment is key for its future and why the US is coming out on top. Taron Wade, Director at Standard & Poor’s Ratings Services, moderated their conversation.

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Could falling oil prices spark a financial crisis?

London, 5 December 2014

The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns. 

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How the EU can progress towards an ‘Energy Union’

Brussels, 1 December 2014

The European Union has made progress in liberalising energy markets, and its global leadership on climate change is to be commended, the International Energy Agency (IEA) said today as it released its review of EU energy policies.

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Global Petrochemical Prices Fell 4% in October

London, 20 November 2014

Prices in the $3-trillion-plus global petrochemicals market extended its fall by 4% in October, as upstream energy prices continued to slide.  Petrochemical prices, expressed as a monthly average, fell to $1,324 per metric ton (/mt) from $1,384/mt in September, according to the just-released monthly Platts Global Petrochemical Index (PGPI).

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Energy sector must tackle longer-term pressure points: WEO 2014

London, 12 November 2014

Events of the last year have increased many of the long-term uncertainties facing the global energy sector, says the International Energy Agency’s (IEA) World Energy Outlook 2014 (WEO-2014). It warns against the risk that current events distract decision makers from recognising and tackling the longer-term signs of stress that are emerging in the energy system.

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U.S. Ethane Exports ‘Imminent’ Amid Flood of Supply from Shale Plays

Denver, 10 November 2014

U.S. ethane production, forecast to reach 2.5 million barrels per day (b/d) by 2024, will cause supply to exceed domestic demand, making exports “imminent,” according to a report from Bentek Energy, an analytics and forecasting unit of Platts, a leading global provider of energy, petrochemicals, metals and agriculture information.

Read more: U.S. Ethane Exports ‘Imminent’ Amid Flood of Supply from Shale Plays