The Covid-19 pandemic has everyone rethinking what steps to take for resilience today, and how to safeguard that resilience for an uncertain energy future. Nearly every oil and gas executive said, in the just released EY Oil and Gas Digital Transformation and the Workforce Survey, that their company will have to change how it operates coming out of the downturn. What’s implied by that result is that oil and gas executives don’t expect the market to ever go back to where it was.
They are right. Oil demand is unlikely to return to the path it was on before the pandemic. New ways of living, working and operating our day-to-day lives have taken hold and are likely to permanently transform traditional choices. When we get to
A series of statements last week by the Mauritian Police about the Voice Data Recorder (VDR) of the oil spill ship, Wakashio, has attracted a lot of attention in Mauritius.
There appears to be a divergence from the accounts offered by the Panama Maritime Authorities and what the Wakashio’s Voice Data Recorder reveals.
It will be crucial that this discrepancy is properly investigated, to ensure the uncertainty surrounding the Wakashio does not continue to persist, given the impact the oil spill has had on the country which is still in a state of National Environmental Emergency.
Questions have also been asked about why other vessels
The Indian Ocean island of Mauritius is still reeling from the devastating oil spill caused by the Panama-flagged, Japanese-owned vessel, The Wakashio. More questions are now being asked about the cause of the incident as the original claims start to unravel.
The first day that the Panama Maritime Authorities landed in Mauritius on September 8, they claimed that the captain had ordered a change of course to “find internet or a telephone signal.”
While this captured many headlines, most in Mauritius were doubtful about this account, given that internet connectivity was easily available even 12 nautical miles off shore, where most vessels on the busy
Newspaper reports in Mauritius this week have raised concerns about tampering with the oil fingerprinting linked to the Japanese-owned vessel, the Wakashio.
The vessel ran aground amid a network of highly protected areas in Mauritius at the end of July, and was responsible for the biggest oil spill in Mauritius history 12 days later, setting off a State of National Environmental Emergency in the country and an ecological crisis as endangered species on a highly protected reserve were directly impacted by the spill.
In the national Mauritian newspaper, the Le Mauricien on 4 October 2020, a full page is devoted to the concerns about the handling of the oil fingerprinting by the crew of the Wakashio.
SANTA FE, N.M. (AP) — GOP congressional challenger Yvette Herrell embraced President Donald Trump’s border-wall strategy and burnished an anti-abortion, pro-petroleum philosophy in a bid to unseat Democratic Rep. Xochitl Torres Small during a televised debate.
“I’m proud to stand with President Trump on securing our southern border,” Herrell, a former state legislator, said during the Wednesday night face-off.
For the past two decades, oil has fuelled Colombia’s economic growth, one of the strongest in Latin America.
But the country’s reserves could run dry in six years. While there is much potential in unconventional reserves, the courts have imposed a moratorium on fracking in Colombia, which means that oil is currently off limits.
Colombia must look for other sources of revenue to recover from the economic fallout from the Covid-19 pandemic. But the government has other options for boosting the economy. It says it will bank its recovery on three “pillars” with the aim of pushing GDP to grow by 6 per cent next year (Capital Economics forecasts that GDP will fall 7.5 per cent in Colombia this year and bounce back by 5 per cent next year).
The first is renewable energy. Colombia is rich in renewable resources. It receives regular sunlight all year round. La Guajira, a
A common misreading of Darwinism is that only the strongest survive. Not quite. Charles Darwin argued that organisms that mutated to adapt to changing environments would, through a process of natural selection, lead to the evolution of new species. It had nothing to do with strength, but adaptability. And while the oil and gas industry has some of the world’s cleverest engineers and scientists, they don’t call it Big Oil because it’s especially good at change. We all know that if the energy sector’s cost structure does not evolve, the entire industry will end up like the prehistoric giants who provided the raw material for fossil fuels in the first place.
On Monday September 24, at a virtual meeting hosted by the UN Headquarters in New York, 60 world leaders signed a ‘Leaders Pledge for Nature’ to stop the loss of biodiversity. Heads of State from France, Germany, UK, Netherlands, Panama signed.
Noticeably, the embattled political leaders from Japan and Mauritius were not signatories.
The Leaders Pledge in New York was part of an important UN Summit to avoid the world heading into a major period of biodiversity collapse, as planet Earth grapples with the highest extinction rates since homo sapiens became a distinct species, in what has been called the Sixth Mass Extinction. Rather than being caused by colliding asteroids or other natural phenomenon, this new age of extinction is being caused by man.
The front lines of this extinction battle is happening live on
American shale fracking technology, and to a lesser extent Canadian oil sands, enabled easy access to billions of barrels of reserves and ushered in a new “era of energy abundance” driven by way too many producers producing – or capable of producing – way too many molecules. The result was a “no moat” energy sector, margins got clobbered, and energy stocks got hammered. Today, the global oil and gas industry is beholden to state controlled energy companies (Saudi Arabia, Russia, etc.) to withhold millions of barrels of spare production capacity off the market simply to achieve WTI=$40/bbl. Meanwhile, technology companies have flourished as smartphones and CPUs/GPUs continue to evolve to higher levels of sophistication and performance, while emerging technologies like 5G, the cloud, AI, and the IoT (internet-of-things) have become reality. E-commerce and many other technology trends have been pulled forward and accelerated by COVID-19 and the WFH and SFH
(Bloomberg) — U.S. stocks advanced, led by gains in the biggest technology companies, as investors weighed the chances Democratic lawmakers and the White House will reach a deal for a fiscal-stimulus package. Oil tumbled on concern the market may be oversupplied.
The Nasdaq 100 headed for its biggest gain in a month as Amazon.com, Microsoft and Tesla advanced. The S&P 500 Index’s advance was limited by declines in energy producers. Trading was volatile, with stocks pushed around by the latest developments tied to efforts to forge a stimulus bill acceptable to Democrats and Republicans. Talks were set to continue Thursday as officials sought a breakthrough.
European stocks closed slightly higher. Gold advanced, while Treasuries held steady. Oil tumbled to about $39 a barrel on concern about oversupply amid sluggish economic growth.