Why oil is down by half, what it means for you

The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing.

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Oil prices take another dive on OPEC report, US supplies

The price of oil took another dive Wednesday to new five-year lows after OPEC projected the world will need less of its oil next year.

 

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Iran: Fall in oil prices is 'treachery'

Iran's President Hassan Rouhani said Wednesday that the sharp fall in global oil prices is the result of "treachery," in an apparent reference to regional rival Saudi Arabia, which opposed production cuts.

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EIA: Despite lower crude oil prices, U.S. crude oil production expected to grow in 2015

The recent decline in crude oil prices has created the potential for weaker crude oil production. 

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DOE offers $12.5B in advanced nuclear project funding

The U.S. Department of Energy (DOE) has issued the Advanced Nuclear Energy Projects loan guarantee solicitation, which provides as much as $12.5 billion to support innovative nuclear energy projects.

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Finland clears way for new nuclear power plant project

The Finnish Parliament has voted 115 to 74 in favor of Fennovoima’s supplement to the Decision-in-Principle regarding the construction of a new nuclear power plant in Pyhäjoki, Finland.

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Latest Energy News - Oil & Gas

New York will move to prohibit hydraulic fracturing

Dec 17, 2014 Gov. Andrew Cuomo's administration will move to prevent fracking in New York, citing unresolv...

Nordic Maritime announces 2D seismic survey contract from MultiClient Geophysical

Dec 17, 2014 This survey is expected to commence in December 2014 and will take approximately 60 days to c...

APPEA: Guidelines support existing shale gas regulation

Dec 17, 2014 APPEA says Western Australia’s Environmental Protection Authority has demonstrated confidence...

Latest Energy News - Power

Workers trapped in a collapse at the Da Dang-Da Chomo hydropower plant under development in central Vietnam located, communicate with rescuers through tube

Workers in collapsed Vietnam tunnel communicating

Dec 17, 2014 Workers trapped in a collapse at the Da Dang-Da Chomo hydropower plant under development in c...
The next two years in MIT’s Department of Nuclear Science and Engineering (NSE) may see fusion research embark on a landmark period of innovation

MIT: The future of fusion power

Dec 17, 2014 The next two years in MIT’s Department of Nuclear Science and Engineering (NSE) may see fusio...
As has been the case for more than a decade, the fate of the global coal market will be determined by China, according to the International Energy Agency

IEA: Coal demand to reach 9 billion metric tons per year by 2019

Dec 17, 2014 As has been the case for more than a decade, the fate of the global coal market will be deter...

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Offshore Technology Conference 2014 News

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PennEnergy brings you the latest news and announcements for The Offshore Technology Conference 2014 from across the industry. Click here for coverage before, during and after OTC – a premier gathering for energy professionals offering peer-selected technical programs and the latest innovations in products and services.

Energy Efficiency

ExxonMobil’s Equipment Builder Group 100 Years

ExxonMobil’s Equipment Builder Group Celebrates 100 Years of Innovation

ExxonMobil’s Equipment Builder Group plays a key role in helping optimise the performance of gas-powered machinery.  Click here to read the full article >>

Webcasts

Managing Enterprise Pipeline Operations in the Control Room and Beyond.

Today’s enterprise oil & gas pipelines are continuously looking for ways to efficiently manage their operations within an ever changing environ...
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Digital Oilfield Solutions The Internet of Your Things

The Industrial Internet of Things is not a futuristic technology trend: it’s here today, and it starts with your things. You don’t need to rip and ...
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Whitepapers

Energize Your Most Vital Business Relationships: Advanced Contract Lifecycle Management in the Oil and Gas Sector

In today’s more dynamic and globalized energy marketplace, formal contracts define nearly every business relationship and ...

Improve Accuracy and Reduce your Lease Operating Expense and Risk in Upstream Oil & Gas Production

In this whitepaper, we will address both the technical approach to achieving the highest possible accuracy in allocation m...

Infographic: Smart Process Applications for a Mobile Workforce

In partnership with PennEnergy Research, OpenText surveyed energy companies in the oil and gas, power and services sectors...

Survey Report: Smart Process Applications for a Mobile Workforce

In partnership with PennEnergy Research, OpenText surveyed energy companies in the oil and gas, power and services sectors...

Oil & Gas Wire News

Polar Vortex Returns for Another Unwelcome Visit

Dec 17, 2014 Polar Vortex Returns for Another Unwelcome Visit

CEO of Codelco to Lead Discussions on Renewables for Mines in Chile

Dec 17, 2014 CEO of Codelco to Lead Discussions on Renewables for Mines in Chile

PowerPlan Announces Patent Pending Regulatory Management Suite

Dec 17, 2014 PowerPlan Announces Patent Pending Regulatory Management Suite

AMP TRILLIUM Opens Compressed Natural Gas (CNG) Station in Canton, OH

Dec 17, 2014 AMP TRILLIUM Opens Compressed Natural Gas (CNG) Station in Canton, OH

Power Wire News

Polar Vortex Returns for Another Unwelcome Visit

Dec 17, 2014 Polar Vortex Returns for Another Unwelcome Visit

Buckeye Power Sales and Building for America's Bravest Team Up to Make a Difference

Dec 17, 2014 Buckeye Power Sales and Building for America's Bravest Team Up to Make a Difference

CEO of Codelco to Lead Discussions on Renewables for Mines in Chile

Dec 17, 2014 CEO of Codelco to Lead Discussions on Renewables for Mines in Chile

PowerPlan Announces Patent Pending Regulatory Management Suite

Dec 17, 2014 PowerPlan Announces Patent Pending Regulatory Management Suite
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Oil Refining & Processing News

Halcon Resources to build natural gas facility in Texas

Halcon Resources Corp. is moving from diesel to natural gas, and has com...
The price of a barrel of oil is just under $58, down from a summer high of $107, and lower than at any time since the U.S. was still in recession in the spring of 2009

Why oil is down by half, what it means for you

So what's going on? A global imbalance of supply and demand that is ripp...

Nord Stream wins Platts award for midstream industry leadership

The Platts Energy Awards recognize companies in the energy industry that...

Flint Hills Resources breaks ground on new project at Corpus Christi oil refinery

In May, Flint Hills Resources received permits for the project from the ...

Oil & Gas Pipelines and Transportation News

New York will move to prohibit hydraulic fracturing

Gov. Andrew Cuomo's administration will move to prevent fracking in New ...

EIA: OPEC net oil export revenues expected to fall in 2014 and 2015

EIA estimates that members of OPEC will earn about $700 billion in reven...

Enterprise begins open season for gas pipeline expansion

The Panola expansion project would be designed to accommodate approximat...

Small leak reported from natural gas pipeline in Michigan

Officials say a small volume of liquid natural gas escaped into the atmo...

Nuclear Power Generation

The next two years in MIT’s Department of Nuclear Science and Engineering (NSE) may see fusion research embark on a landmark period of innovation

MIT: The future of fusion power

The next two years in MIT’s Department of Nuclear Science and Engineerin...
A series of tool thefts from the largest nuclear waste disposal zone at Los Alamos National Laboratory raises concerns about security

Thefts raise security concerns at Los Alamos lab

A series of tool thefts from the largest nuclear waste disposal zone at ...
Congress' 2015 omnibus bill calls for $345 million for continued construction of the Mixed Oxide Fuel Fabrication Facility (MOX) project in South Carolina

Nuclear News: Continued funding confirmed for MOX project

Congress' 2015 omnibus bill calls for $345 million for continued constru...
Unit 1 at Susquehanna nuclear power plant shuts down to repair small water leak inside containment structure

Susquehanna nuclear power plant shuts down Unit 1 due to water leak

Unit 1 at Susquehanna nuclear power plant shuts down to repair small wat...

Coal Fired Generation News

As has been the case for more than a decade, the fate of the global coal market will be determined by China, according to the International Energy Agency

IEA: Coal demand to reach 9 billion metric tons per year by 2019

As has been the case for more than a decade, the fate of the global coal...
In many countries, coal and renewable energy systems are being deployed at greater percentages and, thus, there is increased interest in how to optimally integrate these systems

The Energy Frontier of Combining Coal and Renewable Energy Systems

In many countries, coal and renewable energy systems are being deployed ...
The pipe that needs repair is part of the drainage system that runs beneath the dam at the coal-fired Marshall Steam Station power plant near Charlotte, North Carolina

Duke to repair cracked pipe at coal ash site

The pipe that needs repair is part of the drainage system that runs bene...
Tucson Electric Power Company reduces reliance on coal with 413 MW share of the efficient natural gas-fired Gila River Power Station

Tucson Electric buys 413 MW stake in Gila gas power plant

Tucson Electric Power Company reduces reliance on coal with 413 MW share...

Gas Fired Generation News

Technip awarded oil and gas terminal project by ONGC in India

The hydrocarbons extracted from VA and S1 deep water offshore fields wil...

Halcon Resources to build natural gas facility in Texas

Halcon Resources Corp. is moving from diesel to natural gas, and has com...
The new 1,329 MW, natural gas-fired Warren County Power Station joins Dominion Virginia Power's generation fleet

New 1,329 MW Warren County gas-fired power station

The new 1,329 MW, natural gas-fired Warren County Power Station joins Do...

Enterprise begins open season for gas pipeline expansion

The Panola expansion project would be designed to accommodate approximat...

Renewable Energy

Workers trapped in a collapse at the Da Dang-Da Chomo hydropower plant under development in central Vietnam located, communicate with rescuers through tube

Workers in collapsed Vietnam tunnel communicating

Workers trapped in a collapse at the Da Dang-Da Chomo hydropower plant u...
ET Solutions AG has been chosen to provide turnkey EPC service to a 40 MWp PV power plant in Israel along with local partners G-Systems and Elmor (Solar panel installation at the Ketura Solar project in Israel - Image courtesy of Arava Power Co.)

ET Solar builds a 40 MWp solar power plant in Israel

ET Solutions AG has been chosen to provide turnkey EPC service to a 40 M...
The aerospace company and the utility, Puget Sound Energy, said the plan will move the Renton factory near Seattle toward an all-renewable energy mix

Boeing 737 factory to move to renewable energy

The aerospace company and the utility, Puget Sound Energy, said the plan...
Thirteen workers were killed in a collapse over the weekend at the construction site of the Coca Codo Sinclair hydroelectric power plant in Ecuador (This July 22, 2012 file photo shows one of the work sites at the Coca Codo Sinclair Hydroelectric Project in  Ecuador Photo: Flickr| Mauricio Muñoz)

13 killed in collapse at hydropower plant site in Ecuador

Thirteen workers were killed in a collapse over the weekend at the const...

Exploration & Production News

New York will move to prohibit hydraulic fracturing

Gov. Andrew Cuomo's administration will move to prevent fracking in New ...

APPEA: Guidelines support existing shale gas regulation

APPEA says Western Australia’s Environmental Protection Authority has de...

Halcon Resources to build natural gas facility in Texas

Halcon Resources Corp. is moving from diesel to natural gas, and has com...

ANGA comments on New York decision to prohibit hydraulic fracturing

ANGA’s Paul Hartman calls the decision “ill-advised.” 

Transmission & Distribution

Abengoa to undertake new power transmission project in Argentina worth more than $27 million

Abengoa to develop a new power transmission project in Argentina

Abengoa to undertake new power transmission project in Argentina worth m...
Four Static Var Compensators (SVCs), part of ABB’s family of FACTS technologies, will contribute to the increased use of renewable energy in the southwestern US state

ABB boosts power transmission capacity in Texas

Four Static Var Compensators (SVCs), part of ABB’s family of FACTS techn...
GE, utility, government, and academia partner on underground microgrid project to improve electricity reliability in northern New York

GE teams on underground microgrid project in New York (Video)

GE, utility, government, and academia partner on underground microgrid p...
Several states are adding or increasing incentives for electric vehicle charging stations according to a new brief from the U.S. Energy Information Administration (Image: Row of charging stations at the Hillsboro Intermodal Transit Facility in Hillsboro, Oregon. Author: M.O. Stevens)

EIA: Several states adding incentives for EV charging stations

Several states are adding or increasing incentives for electric vehicle ...

Offshore Oil & Gas News

Nordic Maritime announces 2D seismic survey contract from MultiClient Geophysical

This survey is expected to commence in December 2014 and will take appro...

Technip awarded oil and gas terminal project by ONGC in India

The hydrocarbons extracted from VA and S1 deep water offshore fields wil...

FMC Technologies awarded subsea systems contract for Chevron

FMC Technologies has received an order from Star Deep Water Petroleum Li...

Statoil announces development plan for Gullfaks Rimfaks offshore development

The development will extend the lifetime of the Gullfaks A platform. 

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