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On 25 February this year Platts, a division of S&P Global, announced the inclusion of delivered, or CIF (Cost, Insurance and Freight), Rotterdam offers of North Sea oil cargoes into its flagship Dated Brent benchmark starting from 1 October 2019. Competing price reporting agency (PRA) Argus is already publishing its ‘New North Sea Dated’ assessment […]
Over the last six months, LNG Canada and Golden Pass LNG final investment decisions committed nearly 30 Mtpa of new LNG supply capacity surpassing all the new LNG supply committed over the entire period 2015-17. Expectations for 2019-20 involve a record number of new LNG supply projects reaching FID. This paper provides an overview covering […]
In this Oxford Energy podcast James Henderson, Director of the Natural Gas Programme at OIES, and Jeff Edwards, General Manager at Shell Energy responsible for global LNG market analysis, discuss Shell’s LNG Outlook 2019. The Outlook provides a consensus view of key trends in the LNG industry, and as a result the podcast addresses a […]
In February 2019, the EU reached a political agreement to amend the Gas Directive to extend its scope to apply to pipelines from third countries to the EU. The proposal is aimed primarily at Nord Stream 2 – a pipeline which would bring Russian gas to Germany and has been under construction across the Baltic […]
President Trump’s tweet on February 25 urging OPEC to ‘relax’ and to take it ‘easy’ with their cuts, and that a ‘fragile’ global economy can’t tolerate a higher oil price, did have an immediate price impact, with the Brent price declining by 4 per cent on the day, from nearly $67/b down to $64/b. But […]
In the power generation sector, the competition between gas and coal, at least for the fossil fuel share, can be intense in many countries. However, there are some areas of the world where there is little or no coal fired power generation and the principal means of generation is oil and/or hydro. Many of these […]
The current sweet-sour crude oil imbalance is creating challenges for producers and refineries alike. While OPEC+ is striving to balance the market by the first half of 2019, unplanned outages from countries such as Venezuela, Iran and Canada and OPEC+ cuts have contributed to a large deficit in medium/heavy sour crudes. This is having a […]
In this issue of the OIES Quarterly Gas Review we updated our “LNG tightness” metric (with thanks to Argus Media) that measures the spread between the US Gulf Coast LNG FOB and the Henry Hub price. It is interesting to keep track of this ‘LNG tightness’ in a fast-changing energy world. In December 2018 with […]
The question of flexibility is always important for the gas industry because of the seasonal nature of gas demand. In the past few years the role of flexible Russian gas in meeting Europe’s growing call on gas has been indispensable. This paper looks at how Russia meets its own flexibility requirements in the domestic market and […]
Energy transition risk is often viewed as a long-term risk, the impacts of which will not be felt for decades to come. However, this view may not be correct because even though completion of the transition might take decades, the increased uncertainty around the transition impacts the energy markets on a much shorter time scale […]
This paper analyses the political economy of oil and gas in Libya, examining how the country’s politics affect the oil and gas industry, what has and has not changed since 2011, and the implications and outlook for the future. It begins by briefly reviewing the history of oil and gas development in Libya before 2011. […]
After a sharp fall towards the end of 2018, oil prices in 2019 started on a positive note recovering some of their losses. From the low point of $50/b reached on 28 December, the daily Brent price has increased to above $60/b with many analysts now expecting another year of sustained price volatility driven by […]
In May 2019 we will be holding our annual Brainstorming event.
Amongst other topics the issues dicussed at the meeting will cover:
• Storm Clouds Brewing for the Global Economy?
• Geo-Politics of Energy: Chaos theory tests oil’s resilience
• Oil Market Dynamics: Back to Square one?
• Crude oil pricing systems in flux
• Dynamics of Gas Markets
• Climate Change, Technology and the Electricity Sector
We aim to bring together thirty participants from energy companies, financial institutions, governments and international organisations for a wide-ranging discussion on topical energy issues.
In June 2019 we will be holding our third annual Electricity Day.
This year's theme is 'An Integrated Energy Systems Approach to Decarbonization Policy: Is it the Way Forward?' covered over three sessions:
I. What benefits, if any, can ‘integrated’ or ‘whole energy system’ thinking bring to our approach to particular energy issues, such as the decarbonization of difficult sectors such as heat?
II. What roles do different modes of storage and different technologies play in realising an integrated, whole system approach to decarbonization?
III. What are the key policy and commercial challenges of an integrated energy systems approach?
For more information about our electricity programme please click here.
Changes to the ‘Dated Brent’ benchmark: more to come https://t.co/gW10n8rPMi
March 21st
New OIES paper looks at LNG projects vying for FID in 2019-20, reviews 5 areas, costs and competitiveness, and the… https://t.co/pz3UDcUcQU
March 20th
Outlook for Competitive LNG Supply https://t.co/qmG43CklMw
March 20th