We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
 The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predicting that any of the following will happen, and they will be surprises to most people if they do. But, I think there is an outside chance that one or more will occur, and this would move markets and policy debates in unexpected directions.
1. U.S. crude oil and natural gas production decline for the first time since 2008 and 2005, respectively. The colossal markdown in world oil prices has belatedly been followed by a slightly smaller, but nevertheless dramatic markdown in U.S. natural gas prices. The drop in prices has already resulted in announcements from U.S. drillers that they will curtail their drilling operations significantly next year.
But drilling that is already contracted for will likely go forward, and wells waiting for completion will be completed. It can be costly to pull out of drilling contracts. And, failing to complete already successful wells and bring them into production is downright foolish since the costs incurred in drilling the wells including future debt payments remain. In those circumstances, some revenue at lower prices is preferable to no revenue at all.
Having said all that, scaled-down drilling plans when combined with what's left in drillers' immediate inventory both to drill and complete may not be enough to overcome the prodigious production decline rates from existing wells in deep shale deposits of oil and gas which have provided almost all the recent growth in U.S. production. The decline rates are 60 to 91 over three years for tight oil plays and 74 to 88 percent over three years for shale natural gas plays.
If low prices continue for a second year, the cheers for "Saudi" America will disappear. It was never to be anyway. What America has left is high-cost oil and natural gas. And, even at high prices both were likely to peak and decline in the next 5 years. Now, low prices may bring peak production rates in the coming year for both U.S. oil and natural gas--peaks that may never be seen again.
2. World crude oil closes below $30 per barrel. I think that such a price would only last a short time unless the world is in the throes of the next Great Depression. But since OPEC has reaffirmed that it will continue to pump oil at current rates until non-OPEC production declines, look for this game of chicken to create increasing inventories of oil worldwide for several months. The underlying cause for rising oil inventories is slowing economic growth in much of Asia, especially China, and economic stagnation in Europe and Japan. Any pickup in worldwide growth would send oil significantly higher than where it is today as oil demand increases.
3. Developments in solar thermal energy show that it can solve the storage problem for electricity from renewable energy. The difficulty with renewable energy supplying electricity is that electricity is very expensive to store (and so we do very little of this). Storage is important because renewable energy production comes when the wind blows and the sun shines, but not always when we need it. A breakthrough in solar thermal may be in the offing that would overcome previous limits on temperatures generated by solar thermal capture devices and make it possible to store heat cheaply enough to run solar electric generating plants around the clock at high output.
4. A climate agreement in Paris calls for binding greenhouse gas emissions limits. Expectations are exceedingly low for next summer's international climate conference to be held in Paris. The aim is to agree on binding limits for carbon emissions for the world's nations. Few people think that will happen no matter what the urgency of the matter.
But we cannot know what climate events might occur between now and the Paris conference that would change the outcome. It would have to be big, on the order of an ice shelf plopping into the ocean and raising sea-level enough to notice. Nevertheless, I would say that such a disturbing event becomes more likely with time and might be necessary to move the world's nations to a binding emissions agreement.
Even some progress in the direction of a binding agreement will have the world's energy analysts talking about stranded assets, a reference to the oil, natural gas and coal that would have to be left in the ground in order to avoid breaching agreed limits on carbon emissions. That would have significant consequences for the companies whose work is extracting and refining hydrocarbons.
5. Oil prices reach $100 per barrel before December 31, 2015. This is the other extreme from surprise No. 3. Almost all analysts expect oil prices to remain low, and many believe we are now entering a new era of cheap oil. (I, of course, don't buy it.) An earlier and more dramatic drop in production than anticipated and a greater rise in demand than anticipated could easily bring prices back above $100. I think this is more likely to happen later in 2016. But the timetable for a return to prices above $100 could be accelerated by many factors not now apparent.
I regard none of these events as likely which is why they would be surprises. But even one of these surprises would result in large financial gains or losses for many. And, either of two of them--binding greenhouse gas emissions limits or a breakthrough in renewable energy storage--would have giant consequences for the entire world.
About Author:
Kurt Cobb is an author, speaker, and columnist focusing on energy and the environment. He is a regular contributor to the Energy Voices section of The Christian Science Monitor and author of the peak-oil-themed novel Prelude. In addition, he has written columns for the Paris-based science news site Scitizen, and his work has been featured on Energy Bulletin (now Resilience.org), The Oil Drum, OilPrice.com, Econ Matters, Peak Oil Review, 321energy, Common Dreams, Le Monde Diplomatique and many other sites. He maintains a blog called Resource Insights.
Views and opinions / conclusion expressed herein are personal views of the author and not that of COALspot.com.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
|
|
|
Showing 3266 to 3270 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
|
| |
| |
|
