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The US Department of Energy’s newly rebranded Office of Fossil Energy and Carbon Management aims to fund the research and technology deployment that will help the US reach net-zero carbon emissions by 2050. We spoke with Acting Assistant Secretary Jennifer Wilcox, head of the office and a carbon capture expert, about some of the promising technolog…
 
Silos within the energy industry are coming down as companies confront the need to dramatically cut carbon emissions. The so-called energy convergence is the idea that companies, policy makers and regulators need to be more collaborative across the energy spectrum. Joe Brettell is a partner for strategic engagement at Prosody Group, which consults …
 
The UAE and Saudi Arabia are locked in a dispute over how to ease oil-production limits as global demand recovers from the pandemic. Nareeka Ahir, a geopolitical analyst at S&P Global Platts Analytics, tells us about the oil market risks that could emerge from the fight. She also shares the latest geopolitical risks from the Iran nuclear talks, Ira…
 
Freeport LNG CEO Michael Smith joined us to talk about the state of the market, his company's expansion plans, climate concerns and the start of the Atlantic hurricane season. Activity has started picking up for US developers of new liquefaction terminals after a two-year lull in firm commercial deals that predated the coronavirus pandemic. For exi…
 
As extreme weather events continue across the US, they're disrupting energy supplies and demanding more planning for the future. Texas and California have both in recent weeks asked residents to conserve electricity to avoid power grid failures, only a few months after crippling power outages during Texas' deep freeze. And the Gulf Coast just start…
 
It's no secret that the power sector is undergoing dramatic changes. Market dynamics and ambitious decarbonization goals set by the Biden administration are driving a transition away from fossil fuels and toward more renewable energy and electric vehicles. Consumers and investors are also expressing new expectations for sustainability and a cleaner…
 
Venezuelan sanctions and the Maduro regime have been a backburner issue so far for US President Joe Biden. When he was elected, many energy analysts predicted he would grant some sanctions relief on humanitarian grounds. Fernando Ferreira, director of Rapidan Energy Group’s Geopolitical Risk Service, predicts we'll start to see the White House's di…
 
The US and Iran are entering a sixth round of indirect talks in Vienna aimed at restarting the 2015 nuclear deal. S&P Global Platts Analytics still expects the sides to reach a deal in the coming months, with the Biden administration removing sanctions on Iran's oil, petrochemical, shipping and other sectors by September. This sanctions relief woul…
 
Investors are proving they have climate change and the energy transition on the their minds. Last week, activist investors got at least two seats on the ExxonMobil board of directors, and Chevron's shareholders approved Scope 3 emission targets, both which could lead to lower oil and gas production ahead. The popularity of ESG (environmental, socia…
 
The Biden administration surprised many last week in granting a sanctions waiver to the company building the Nord Stream 2 gas pipeline from Russia to Germany. The move allows work to continue on the almost-finished project, despite long-standing US opposition on the grounds that it will increase Germany's dependence on Russian gas supplies. We spo…
 
The White House and Democrats in Congress are looking at a number of ways to increase taxes and federal revenues from the oil and gas industry as part of their climate and clean energy agenda. They're looking at higher royalty rates on federal lands and eliminating deductions like intangible drilling costs and percentage depletion. We spoke with Da…
 
We're sizing up some of the top geopolitical factors influencing oil markets with Paul Sheldon, chief geopolitical adviser for S&P Global Platts Analytics. The US and Iran entered a fourth round of indirect talks in Vienna this month. Sheldon explains why he still sees good odds of a framework deal emerging within weeks and what that would mean for…
 
Will the cyberattack that forced the largest US oil pipeline to shut down for days be a wake-up call for the industry to rapidly shore up its cyber defenses? On this special episode, we have two interviews from cybersecurity experts. Both say they were not entirely surprised by the attack on the Colonial Pipeline, as they have witnessed the oil and…
 
Just how realistic are the ESG goals being set each quarter by US energy producers in the face of rising pressure from investors, banks and the government to become more environmentally sustainable? The Biden administration has ushered in new climate priorities across the government, including the Environmental Protection Agency reviewing methane l…
 
The US Interior Department has approved more than 500 drilling permits on federal lands and waters since January, despite the Biden administration's halt to new lease sales. The agency has not said when it might resume leasing, other than canceling any sales through June. Producer-state senators contend that this pause will turn into a permanent ba…
 
The Dakota Access Pipeline returns to court today for a pivotal hearing. The Biden administration has been asked by the federal judge in the case to disclose whether it supports an immediate shutdown of the pipeline while the Army Corps of Engineers conducts a new environmental review. We spoke with Senator John Hoeven, Republican-North Dakota, abo…
 
Louisiana sits at the crossroads of US climate policy, from experiencing some of the earliest effects of rising sea levels and changing weather patterns to depending on fossil fuels for economic growth. We spoke with US Senator Bill Cassidy, Republican-Louisiana, about how the Biden administration's climate policies are playing out in his state. He…
 
Argentina's oil production has been on the rise this year, recovering from the demand and price impacts of the coronavirus pandemic. Oil output climbed to 492,000 b/d in February, up from 446,000 b/d in May. While that was still down from 520,000 b/d in March 2020, market watchers appear confident that production will fully recover by the end of 20…
 
Opportunity zones are tax-advantaged investment vehicles that grew out of the Tax Cuts and Jobs Act of 2017 to bring economic redevelopment to impoverished areas. For the oil and gas industry, opportunity zones can benefit producers and investors. US Energy Development, a small upstream producer, recently added an opportunity zone to its portfolio …
 
The administration of President Andres Manuel Lopez Obrador in Mexico came to power with the promise to undo the energy reform of his predecessor, which opened the private sector to investment. During the last 18 months, the government has issued agreements, decrees and regulations in its strategy to benefit the state utility. We spoke to Victor Ur…
 
The dearth of newly sanctioned LNG export projects in 2020 and so far in 2021 — especially in North America, which has been responsible for the majority of new LNG supply globally over the last five years — is a worrisome sign for the market that could lead to more price volatility in the future. In North America, there was only one new liquefactio…
 
Environmental, social and governance considerations have becoming pressing issues among refiners in today's net-zero carbon world. While other refiners and oil companies are starting to embrace ESG, it has been a key part of Meridian Energy's strategy since 2013, when the company was formed. We talked with Meridian CEO Bill Prentice about building …
 
Mexican production of crude oil has declined continuously since reaching a peak in 2004. Since then, the government has tried to bring back production while keeping revenues steady. President Andres Manuel Lopez Obrador has embarked on a new quest to rescue Pemex, whose waning revenues have been needed to help develop Mexico for the last seven deca…
 
As the shortest route from the US Gulf Coast to East Asia, the Panama Canal has emerged as a key fixture in global trade flow dynamics. We spoke with Ricaurte Vásquez Morales, administrator of the Panama Canal Authority, who has been working to reduce congestion of the canal, which has grown in part because of LNG shipments from the US.…
 
For the past several days, much of the producing states of Texas and Oklahoma have been gripped by sub-freezing temperatures, ice storms and snow. Today we talk with Parker Fawcett, North American supply analyst for S&P Global Platts Analytics, to discuss the impact of the severe weather on US oil and gas production, and other consequences of the w…
 
The Uinta Basin in Utah is the producing area of the US Rocky Mountains. Its production has declined in recent years for two reasons: the region's isolation and the gooey, waxy crude produced from it. We spoke with Mark Hemphill, senior vice president for the Rio Grande Pacific Corp. He is project manager for the Uinta Basin Railway, an 85-mile, $1…
 
US President Joe Biden make good on his campaign promises and rejoined the Paris Agreement upon taking office, a move that has huge implications for Mexico in particular, given the current energy strategy of the government, which focuses on fossil fuels. We spoke with Aldo Flores-Quiroga, senior adviser for energy and natural resources at FTI Consu…
 
Apart from simple supply and demand, nothing impacts oil markets as much as geopolitics. Former President Donald Trump did everything he could to load up sanctions on countries like Iran and Venezuela in order to cut down on their crude exports. Now we'll see what President Joe Biden might do and whether those moves lead to more barrels coming back…
 
President Joe Biden's inauguration was particularly momentous, including for energy companies and markets. A flurry of executive actions were signed just hours after Biden took the oath of office, and against that background there are big changes underway in federal policy. Oil, natural gas and energy transition will all be impacted by these early …
 
Today we are looking at oil storage trends. Oil storage sits at the heart of oil pricing, and a lot has happened in this arena over the last year, mirroring crude and product markets. Ahead of S&P Global Platts' Oil Storage Virtual Conference, to be held January 21, we talked with two experts in the field: Richard Redoglia, CEO of Matrix Global Hol…
 
Today we are examining the outlook for new North American liquefaction projects to be sanctioned in 2021 amid a virtual standstill in 2020. The recent runup in the Platts JKM has buoyed developers, but challenges remain. S&P Global Platts natural writer Harry Weber spoke with Charif Souki, co-founder and executive chairman of Tellurian, which is pr…
 
The 2020 US elections were arguably the most consequential of our time. Among the many issues that drove voters to choose one candidate over another was energy. Oil, natural gas and the energy transition all were at play, and now the incoming administration of President-elect Joe Biden will be expected to deliver on promises made. Jasmin Melvin and…
 
Earlier this year the oil market suffered a historic price collapse as pandemic-blunted demand left the world awash in crude. Against this background, the OPEC+ group in April agreed to is deepest-ever production cuts. The agreement was largely successful in fostering a recovery in oil prices throughout the summer and fall, but oil demand outlooks …
 
US crude output fell this year in response to low demand stemming from the coronavirus pandemic. Production has held at around 10.5 million b/d to 11 million b/d since late October, according to the US Energy Information Administration. But that is down roughly 2 million b/d on the year, and many analysts expect little change for 2021. However, som…
 
The presidential election is over, and the results are being certified. President Donald Trump may keep contesting votes in court, but we’re expecting the beginning of the Biden administration come January. Today we look at the state of the midstream oil sector amid an ongoing pandemic and an upcoming Democratic White House that won’t be as friendl…
 
California and its clean car ambitions had a lot riding on the US presidential election. The state's Air Resources Board spent the Trump presidency fighting with the US Environmental Protection Agency about its rollback of Obama-era tailpipe standards, which were set to increase average fuel economy of the US passenger vehicle fleet by 5% annually …
 
The US oil and gas sector is facing several huge transitions all at once: the immediate crisis brought on by the pandemic and a longer-term energy transition away from fossil fuels. Today we're looking at a third shift confronting the US upstream: digital transformation and the need for the oil and gas workforce to catch up in this area. A new surv…
 
Joe Biden is now officially president-elect after securing a win in natural gas-rich Pennsylvania despite the fight over fracking we've heard so much about these last long weeks. S&P Global Platts Analytics predicts a muted production impact if Biden bans new federal drilling permits, putting up to 1.1 million b/d of oil output and 3.7 Bcf/d of gas…
 
Dozens of highly consequential energy issues are at play in this week’s US elections, ranging from who will occupy the Oval Office for the next four years, to who will fill the last open seat on the Texas Railroad Commission. But overhanging all of this is a US economy crippled by the ongoing pandemic. Beth Ann Bovino, US Chief Economist for S&P Gl…
 
It's Election Day in the US, and at a lot is at stake in the energy sector for the next four years. We're revisiting three key policy areas that could shift direction depending on today's vote: * US policy in the Middle East and Washington's relationship with OPEC, with Amy Myers Jaffe, research professor and managing director of the Climate Policy…
 
A victory by Joe Biden in the US presidential election could have a big impact on the US-Mexico relationship and might even force the Mexican administration to change course on its energy goals. Mexico's energy policy is currently focused on fossil fuels, despite having international commitments to move toward green sources of energy and the legal …
 
US oil and gas producers were already facing a tough investment climate by the time this spring's price crash and demand plunge decimated capital spending plans. Layered on top of this near-term crisis is a much bigger, longer-term threat: climate change. A recent Commodity Futures Trading Commission report argues climate change could pose a major …
 
For the global oil market, one of the biggest wildcards of the US presidential election is Iran sanctions relief under a Biden administration. This would return more than 2 million b/d to an already very oversupplied oil market. Today we have two predictions for how this would play out and how quickly. Nareeka Ahir, geopolitical analyst for S&P Glo…
 
The coronavirus pandemic has rapidly accelerated the digitization of US energy companies, moving operational technology and corporate networks into workers' homes. Leo Simonovich, vice president and global head of industrial cyber and digital security at Siemens Energy, says this has heightened the need for oil, gas and power companies to increase …
 
The US presidential election could have far-reaching implications for the global oil market.Chris Midgley, global head of analytics for S&P Global Platts, takes us through the biggest potential impacts for supply, demand and price. He covers Iran sanctions relief scenarios, the outlook for...By S&P Global Platts
 
The US presidential election could have far-reaching implications for the global oil market. Chris Midgley, global head of analytics for S&P Global Platts, takes us through the biggest potential impacts for supply, demand and price. He covers Iran sanctions relief scenarios, the outlook for OPEC+ cohesion, the US upstream forecast under Biden drill…
 
In Part 2 of our look at the US presidential candidates' evolving energy platforms, we examine how progressive Democrats have pushed former Vice President Joe Biden further left on climate and environmental policies. Glenn Schwartz, director of Rapidan Energy Group's Energy Policy Service, shares his latest prediction for how far Biden will go in r…
 
In Part 2 of our look at the US presidential candidates' evolving energy platforms, we examine how progressive Democrats have pushed former Vice President Joe Biden further left on climate and environmental policies.Glenn Schwartz, director of Rapidan Energy Group's Energy Policy Service, shares...By S&P Global Platts
 
In this two-part episode, we look at how both US presidential candidates' energy platforms have evolved since the start of campaigning.They have had to respond to massive market shifts, a string of natural disasters signaling a changing climate, and waning poll numbers in key states.In Part 1, we...By S&P Global Platts
 
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