A 2013 UK Shale Gas Revolution? Unlikely.

adminBusiness Electricity, Business Gas, Energy Efficiency, International, Utilities Market Regulation, Wholesale Utilities Markets

Natural gas prices in the US have dropped by almost two thirds since they started ‘fracking’ for shale gas. Could we see a similar boost to the UK economy any time soon? Shale Gas – probably the only hope we have of producing a significant amount of useful, home-grown energy in the next decade or two. Some say it is … Read More

Libyan oil production already on the increase

mattInternational, Wholesale Utilities Markets

Libyan rebel leaders have already called workers back into oil refineries and said pre-conflict levels of production could be reached as early as next year. The country’s Transitional National Council (TNC), recently recognised by the United States as the nation’s legitimate governing body, said damage to its oil infrastructure is not as bad as previously feared. The Libyan TNC stated … Read More

Oil price up after OPEC stalls production

mattInternational, Wholesale Utilities Markets

The price of oil has jumped up to over $118 per barrel as OPEC is so far failing to agree on an increase in production Most of the members of the oil cartel voted against upping production levels, in an unusual show of disagreement between the nations. There are tensions within the Organisation of Petroleum Exporting Countries (OPEC), with two … Read More

High oil price affecting demand – IEA

mattInternational, Wholesale Utilities Markets

The International Energy Agency (IEA) has said the current high price of oil is beginning to affect demand. The IEA has said the global demand for oil has been slowing over the last few months, due to very high prices. Despite their concerns, the IEA did not change it’s global oil demand growth forecast, which is at 1.4 million barrels … Read More

Oil prices at two and a half year highs

mattInternational, Wholesale Utilities Markets

Oil prices have risen to a two and a half year high due to supply concerns and the strength of the dollar The drop in the strength of the dollar means that other commodities such as gold and silver have also risen in price. Other commodity prices are also on the increase, such as food, metal and cotton.

Japan quake increases energy price worries

mattEnergy Efficiency, International, Wholesale Utilities Markets

What does the catastrophic record-magnitude earthquake in Japan mean to the worldwide energy industry? With the disastrous events in Japan following the record magnitude earthquake, the country has experienced some problems with one of its nuclear power stations in Fukushima. Nuclear reactors are meant to be built to withstand seismic activity, but the plant is still experiencing some significant difficulties, … Read More

Energy Secretary on UK oil dependency

mattInternational, Wholesale Utilities Markets

Oil price rises due to middle east conflict, UK energy secretary says UK needs to become more energy independent. UK Energy Secretary Chris Huhne has called for the UK to speed up a move away from foreign oil vulnerable to factors such as civil unrest. The recent turmoil throughout the Middle East has sent the price of oil up dramatically, … Read More

OPEC decides on no cuts to crude oil output

mattInternational, Wholesale Utilities Markets

The intergovernmental consortium has decided not to further reduce the amount of crude oil exported in fear of damaging the global economy. The Organisation of Petroleum Exporting Countries (OPEC) controls 40% of the world’s oil. The decision came at a meeting in Vienna, and it was unclear as to what OPEC would decide, given that Algeria and Libya were calling … Read More