Starmer, the UK's ambassador to Berlin, is there for talks on resetting ties with Europe
On Wednesday, British Prime Minister Keir starmer will discuss an economic and defense accord with German leaders. He hopes to use his two-day trip to Europe's leading powers Germany and France as a chance to reset the relationship with the rest. Starmer stated that he wanted Britain move past the previous Conservative Government's fractious relationships with European allies, and place improved ties as the core of his efforts in order to boost Britain's economy.
Starmer wants to help Europe reset its ties by pursuing a defence deal with Germany
British Prime Minister Keir Starmer will discuss a landmark economic and defence accord with German leaders on Wednesday, hoping to use a visit to pursue a "once-in-a-generation opportunity" to reset relations with the rest of Europe. Starmer, who is on a two-day trip to Germany and France to promote Britain's economy, said that he wanted to see Britain move past the fractious relationship with European allies of the previous Conservative government and place improved relations at the center of his efforts.
Russia claims it has disrupted Ukraine’s power grid and weapons supplies with a massive strike
Russia announced on Monday that it had launched a massive attack on Ukraine, which it claimed had disrupted electricity supplies and rail transport of weapons and ammunition to front-line positions. Ukrainian officials claimed earlier that Russia launched over 100 missiles, and approximately 100 drones of attack at Ukraine during morning rush hour. And striking energy plants nationwide. In a press release, the Russian Defence Ministry stated that missiles were fired from air and sea.
US sanctions 400 additional targets for helping Russia's war efforts
The State Department announced that the United States imposed sanctions Friday on more than 400 individuals and entities for supporting Russia's military effort in Ukraine. This included Chinese firms, which U.S. officials believed were helping Moscow skirt Western sanctions while building up its military. Washington has warned Beijing repeatedly over its support of Russia's defence industrial base. It has also issued hundreds sanctions to limit Moscow's capability to exploit certain technologies in military applications.
US sanctions 400 additional targets for helping Russia's war efforts
The State Department announced that the United States imposed sanctions Friday on more than 400 individuals and entities for supporting Russia's military effort in Ukraine. This included Chinese firms, which U.S. officials believed were helping Moscow skirt Western sanctions while building up its military. Washington has warned Beijing repeatedly over its support of Russia's defence industrial base. It has also issued hundreds sanctions to limit Moscow's capability to exploit certain technologies in military applications.
Thinking Holistically About Hydrogen’s Place in the Energy Transition
As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need for a wide-lens view of the situation is clear. This includes knowing the capabilities and pitfalls of renewable energy sources at our fingertips, hydrogen being one that is especially prevalent.Kees van Wingerden, an expert with more than 45 years’ experience in industrial safety and infrastructure development, makes the case for…
Oil Prices Extend Losses After Saudi Pledge
Oil prices retreated about 2% on Wednesday, extending the previous day's declines after Saudi Arabia said it would quickly restore full production following last weekend's attacks on its facilities and as U.S. crude stockpiles rose unexpectedly.Tension in the Middle East remained elevated, however, after the Saudi Defence Ministry held a news conference, displaying drone and missile debris it said was "undeniable" evidence of Iranian aggression. U.S. President Donald Trump on Wednesday said he ordered a major increase in sanctions on Iran in the latest U.S.
Waterborne Signs MoU with Hydrogen Europe
Hydrogen Europe and the Waterborne Technology Platform signed a Memorandum of Understanding (MoU) on 13 May 2019 to foster opportunities of hydrogen based fuels as part of zero-emission waterborne transport.The European research and innovation platform for waterborne industries said in a press release that this MoU will help both parties to identify opportunities for hydrogen-related technologies in order to reduce the significant emissions of waterborne transport.Furthermore…
NOPEC Bills: Leverage for White House
For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the U.S. Congress, the “No Oil Producing and Exporting Countries Act of 2019” (NOPEC) is generating a lot of comment.The amount of attention being paid to the proposed legislation is out of all proportion to its probability of being enacted into law - unless oil prices spike higher at some point during the remainder of 2019 and 2020.Similar NOPEC bills were introduced into the House of Representatives (HR 948) and the Senate (S 370) early last month…
Carbon Trust to Make Offshore Wind Vessels Greener
The Carbon Trust's Offshore Wind Accelerator (OWA) issued a Request for Information (RFI) on the potential to reduce emissions and fuel consumption in offshore vessels. OWA plans to start a new industry competition next month.The RFI is the first stage in the competition that will have an estimated funding envelope of circa GBP 400,000.The results from the RFI will help gauge the current interest and development levels, and assist efforts to tailor the competition to best suit industry needs.The initial focus will be on systems…
Saudi Energy Minister Goes to OPEC with a Weak Hand: Kemp
Saudi Arabia’s energy minister, Khalid al-Falih, must play a bad hand of cards as well as he can at next week’s meeting of OPEC and non-OPEC oil producers in Vienna.Falih’s challenge is to get other countries on board with output cuts to avert another crash in oil prices next year while disguising the kingdom’s diminishing leverage in the oil market.Front-month Brent futures have fallen by a third since the start of October while the six-month calendar spread is in contango…
Houthis Say They Fired Missile at Saudi Aramco Center
Yemen's armed Houthi movement launched a ballistic missile at a Saudi Aramco facility in Saudi Arabia's southwestern Jizan province on Monday, the group's al-Masirah TV reported, but a Saudi-led coalition said the rocket fell in the open desert.The Houthis, an Iran-allied group that holds much of Yemen including the capital Sanaa, have fired a series of missiles into the kingdom in recent months, part of a three-year-old conflict in Yemen widely seen as…
JP Morgan Knew Ex-minister Linked to Firm in Nigeria Oilfield Deal
JP Morgan Chase has acknowledged it knew a former Nigerian oil minister convicted of money laundering would benefit when it transferred over $800 million of government funds to a company he controlled, according to a court document seen by Reuters. JP Morgan made the acknowledgement in its legal response to a lawsuit filed by Nigeria over transactions made by the U.S. bank when Royal Dutch Shell and Eni bought offshore oilfield OPL 245 from Malabu Oil and Gas in 2011.
Houthis Attack Saudi Oil Tanker
An attack on a Saudi tanker by Yemen's Houthis will not hit oil supplies, Saudi Arabia's energy minister said on Wednesday, after the Iran-allied group said it had targeted a warship in response to an air strike that killed civilians. The Western-backed, Saudi-led coalition which includes other Sunni Muslim states says the Houthis attacked the oil tanker off Yemen's main port of Hodeidah on Tuesday. The Houthis, however, say they targeted a coalition warship in response to an air strike on Hodeidah on Monday that killed at least a dozen civilians…
Is Aramco Share Sale Distorting OPEC Policy? Kemp
By restraining production, OPEC and its allies have succeeded in eliminating excess oil stocks and accelerating the recovery in prices, but they are paying an increasingly high price in terms of market share. U.S. producers will capture all the growth in global oil consumption this year, according to forecasts from the U.S. Energy Information Administration ("Short-Term Energy Outlook", EIA, March 2018). The agency predicts total crude and liquids production will rise by 2.0 million barrels per day (bpd) in 2018.
OPEC Pact Likely to Evolve Rather Than Terminate
"The lexicon of exit is not found in our vocabulary", OPEC Secretary-General Mohammad Barkindo told reporters on the sidelines of a conference in Cairo on Monday. Ministers from the Organization of the Petroleum Exporting Countries have been anxious to counter speculation about an early end to production curbs. Barkindo was reinforcing the message that the current curbs will be maintained until at least the end of this year and could be continued into 2019 ("Barkindo stresses ongoing cooperation, not exit", Argus, Feb. 12).
Israel Seeks Diplomatic Solution to Med Gas Spat with Lebanon
Israel seeks a foreign-mediated diplomatic resolution with Lebanon over a disputed Mediterranean gas field, the Israeli energy minister said on Wednesday after a surge in hostile rhetoric between the enemy countries. "We hope for, and are prepared to move forward on, a diplomatic resolution to this matter," Yuval Steinitz told the Ynet news site when asked about the Block 9 field, for which Lebanon has issued an oil and gas exploration tender, drawing condemnation from Israel's defence minister last week. Writing by Dan Williams
U.S. Shale Surge Sends Warning to OPEC: Kemp
U.S. crude oil production is set to increase by more than 1.2 million barrels per day in 2018 compared with 2017, according to the latest short-term forecasts from the U.S. Energy Information Administration. U.S. crude production will average almost 10.6 million barrels per day (bpd) this year compared with 9.3 million bpd in 2017 ("Short-Term Energy Outlook", EIA, Feb. 6). The forecast has been revised sharply higher from less than 10.3 million bpd at the time of the last prediction in January 2018 and 9.9 million bpd in July 2017 (http://tmsnrt.rs/2EpmSoV).
Peak Oil Demand and its Implications for Prices: Kemp
Even if oil consumption reaches a peak and then starts to fall, the world will still need large quantities of oil for many decades to come. The prediction is contained in a thoughtful paper co-authored by Spencer Dale, chief economist of BP, and Bassam Fattouh, director of the Oxford Institute for Energy Studies. "Global oil demand is likely to continue growing for a period, driven by rising prosperity in fast-growing developing economies," they wrote in a paper published on Monday.
Israel, Lebanon Argue over Offshore Block, Beirut Slams 'Threat'
Israel described as "very provocative" on Wednesday a Lebanese offshore oil and gas exploration tender in disputed territory on the countries' maritime border, and urged international firms not to bid. Lebanese President Michel Aoun, whose country considers Israel an enemy state, described the comments as "a threat to Lebanon". "When they issue a tender on a gas field, including Block 9, which by any standard is ours ... this is very, very challenging and provocative conduct here," Israeli Defence Minister Avigdor Lieberman said.
