Energy Press Releases

Rocky Mountain Oil and Gas Industry Donates over $53,000 to Support Military Families

The 3rd Annual Rocky Mountain Oil and Gas Poker Classic, benefiting Project Sanctuary this past November, was another record breaker. The event generated over $24,500 in donations to Project Sanctuary—bringing the three-year total to $53,000 for services to our military families. The donations support Project Sanctuary's six-day retreats, which help military families go from battle ready to family ready.

3esi Honored in Deloitte Fast 50 and Fast 500

This past week Deloitte announced the winners of its prestigious Technology Fast 50™ and Fast 500™ awards, given to some of the fastest growing technology companies in Canada and North America respectively.

Just Released: "Slovakia Oil & Gas Report Q2 2014"

LogoSlovakia has above-average energy import dependency with high overall energy intensity compared with the regional average. As a result, the EU has made development of better gas interconnections a priority for Slovakia as net gas imports are expected to cost the country around US $3.25bn in 2013. The country remains dependent on Russia, but a recently announced EUR5.9bn EU infrastructure programme aims to allow for more flexibility when negotiating gas purchases and may boost supply. Slovakia has a growing renewable capacity, but a drop in nuclear output has left an energy shortfall that will be filled with increased use of expensive gas power. Efforts to raise domestic gas prices are being resisted by the government, which may reduce the attractiveness of the Slovak gas sector to foreign investors.

South Korea Power Report Q2 2014 - New Study Released

LogoThe medium-term outlook for South Korea's electricity sector is positive, as stable economic and demographic growth and the government's greater focus on the sector will provide opportunities and minimise electricity shortfalls. However, in the near term, uncertainty clouds the outlook for both incumbents and new entrants, as the public remains distrustful of nuclear power and certain groups resist the building of new transmission projects. However, the government has shown that it is willing to raise electricity tariffs to rein in demand and fuel import bills.

Slovakia Power Report Q2 2014 - New Study Released

LogoThe energy sector will expand steadily in the short- and longer term. An expansion of Slovakia's nuclear capacity will drive generation, while a steady expansion of its manufacturing sector will drive consumption. By mid-decade, Slovakia should become a net exporter of energy. However, risks remain, such as interference in pricing by the government and the rising costs of the project to build two new reactors at the Mochovce nuclear power plant. Several major investments planned for the years ahead may experience delays or fail to materialise altogether.

Russia Power Report Q2 2014 - New Market Research Report

LogoA slowdown in household consumption and the Kremlin's failure to sufficiently address structural impediments to investment are likely to continue to weigh on the Russian power sector - based on the fact that power demand remains highly correlated with economic development and industrial production. While the Russian power market is huge in terms of its sheer scale, we maintain our view that it will only register subdued growth over our forecast period as macroeconomic headwinds, a difficult political environment and weak institutional capacity continue to discourage foreign investment. As such, with much of the country's aging capacity having been built in the 1960s and 1970s, we expect most of the investment that is channelled into the power sector to be targeted at modernising and substituting aging and inefficient thermal and nuclear capacity, and improving the inadequate transmission infrastructure.

New Market Report Now Available: Kazakhstan Power Report Q2 2014

LogoWe anticipate healthy growth in Kazakhstan's power sector over BMI's 10-year forecast period, both in terms of generation and consumption. Coal will retain its dominance, accounting for over 80% of the country's energy generation by 2023. However, non-hydro renewables will grow rapidly, with a slew of foreign-financed wind and solar projects in the pipeline. The government is also planning to restart the exploitation of nuclear energy, helped by Kazakhstan's vast uranium wealth. Power production will comfortably meet demand, with Kazakhstan's dependence on energy imports decreasing over the 10-year period. For much of the forecast period, system losses will be considerable, but steady investment in transmission and distribution infrastructure will narrow the supply/demand gap significantly.

New Market Research Report: Mexico Oil & Gas Report Q2 2014

LogoWe see the recently passed Mexican energy sector reform as the start of a fundamental paradigm shift for the country's hydrocarbons sector. While it does not challenge the national narrative that hydrocarbons belong to the state, working within these constraints the landmark bill takes steps to incentivise private sector involvement through the creation of a flexible contract system. As such, although we stress that it will take a number of years before results are felt in the country's production and reserves data, over the long term we believe this will bolster investment and could reverse a nearly decade-long decline in oil production.

McAllister… the Service Company Announce Variety of Online Services

Homeowners in need of repair or installation services for air conditioning in Evesham, Cherry Hill or surrounding areas of New Jersey will have an easier time scheduling an appointment this spring. Always committed to providing their customers with convenient ways to get in touch, McAllister… The Service Company is pleased to announce they are now offering a wide variety of online services this spring. Before summer hits, homeowners can get their repairs out of the way, so they can enjoy the warm weather with ease.

Recently Released Market Study: Russia Petrochemicals Report Q2 2014

LogoRussia may be moving towards self-sufficiency in polymer production, but BMI's latest Russia Petrochemicals Report warns of slow market growth in 2014 as key consuming industries exhibit low or negative output at the same time as the domestic market is opening up to imports. However, there should be sufficient demand in the market to avoid an imbalance and Russia should be able to ramp up exports, although margins could be low in the face of competition on the global market from the Middle East and the US.

"Philippines Power Report Q2 2014" Published

LogoThe Philippines' power sector continues to expand, with growth of between 3% and 5% expected throughout our current forecast period to 2018. Recovery following the widespread devastation of Typhoon Haiyan may hamper growth in the short term, but a range of projects in the pipeline means we see strong potential in the longer term, an outlook boosted by an increasingly positive domestic investment environment.

New Market Report: Brazil Petrochemicals Report Q2 2014

LogoProducers claimed they are seeing benefits, with an increase in capacity utilisation expected in the short term and an increase in investment in the medium term. While tax cuts on raw material purchases should help competitiveness, they will be insufficient to resolve bottlenecks in the sector, according to BMI's latest Brazil Petrochemicals Report.

Market Report, "Kazakhstan Oil & Gas Report Q2 2014", Published

LogoKeeping in mind large underground potential, we maintain our optimistic outlook for Kazakhstan. However, we continue to underline risks related to resource nationalism and geological complications on major prospects that could deter foreign investors. Kazakhstan's choice to block the sale of ConocoPhillips' Kashagan stake in order to allocate it to CNPC illustrates the uncertainty of the business environment that surrounds the country.

Poland Oil & Gas Report Q2 2014 - New Market Study Published

LogoWhile shale gas exploration has thus far presented a mixed picture, there have been positive below and above-ground developments in recent months. However, while Poland could see its first commercial flow rates in 2014-2015, we remain cautiously optimistic with regard to the country's shale gas production. At the moment, the need for additional exploration, the fact that most companies will likely wait until new regulations are passed before taking final investment decisions on shale gas projects, and assuming that projects take three years to be developed, we have only factored in significant shale gas production into our forecast from 2018-2019. We note that risks lie to the downside, depending on the industry reception of the new regulations and below-ground results.

Report Published: "Germany Power Report Q2 2014"

LogoWe have long believed Germany's Renewable Energy Source Act (EEG) will almost certainly be reformed and this is now set to occur following the signing of a grand coalition agreement between Angela Merkel's Christian Democratic Union (CDU-CSU) and the Social Democratic Party (SPD) in December 2013. With SPD Chairman Sigmar Gabriel now installed at the head of a new 'super' ministry that will enable him to oversee economic affairs and energy policy, the revision of the EEG is a priority during Germany's current legislative term - with effective reform critical to cutting the huge cost of Germany's ambitious Energiewende (Energy Transformation). Yet, while reform is necessary to stop spiking electricity prices from curbing Germany's industrial competitiveness, we emphasise that Gabriel has a difficult job ahead of him, as he tries to constrain costs of moving from nuclear to renewable, avoid seriously damage the competitiveness of German industry, while at the same time ensuring the Energiewende is a long-term success.

Denmark Oil & Gas Report Q2 2014 - New Market Study Published

LogoDenmark is likely to remain an oil and gas net exporter over our forecast period, despite production decline. The government is confident the country will sustain its position as a net exporter of oil and gas until the end of the decade. We expect a partial recovery in oil and gas volumes over the medium term. However, we forecast that overall production will decline in the long term and that exports will become increasingly thin by the end of our forecast period despite a small drop in consumption.

Report Published: "United Kingdom Oil & Gas Report Q2 2014"

LogoAn uptick in offshore investment is providing some relief from the overall downward trend in oil and gas production from the UK. While we see a small boost to oil production from 2017 onwards based on current projects in the pipeline, without new discoveries and given falling volumes from mature fields, this will likely only stem the decline or lead to a small-scale and temporary increase in the country's oil production While the industry has responded positively to the end of a moratorium on shale gas development, as well as to incentives, strong opposition at the local level has already disrupted drilling plans. These challenges only reinforce our view that shale gas is unlikely to make a significant contribution to total gas output before the tail-end of our forecast period.

Market Report, "Nigeria Oil & Gas Report Q2 2014", Published

LogoNigeria's hydrocarbon sector continues to struggle amid a worsening political and business environment. Most recently, Chevron's decision to move out of the OKLNG project signals that even the large upside potential of the Nigerian gas market is not sufficient to offset the degradation in investor sentiment. The weak output flows in 2012 and 2013 were the consequence of flooding, repeated oil thefts and regulatory uncertainty. We estimate that total oil production for 2013 declined to about 2.4mn barrels per day, and expect production to remain feeble over the coming year. Output should ramp-up more significantly as many large fields come online after 2015, more than offsetting current depletion. Adoption of the Petroleum Industry Bill (PIB), which we do not expect before the Nigerian 2015 election, would be a strong signal for investors that Nigeria's hydrocarbons sector is ready to move forward. Without the adoption of the PIB, further offshore project delays could occur, resulting in a stagnation of Nigerian production.

Romania Petrochemicals Report Q2 2014 - New Market Report

LogoThe Romanian petrochemicals industry is showing solid but not spectacular growth amid a steady recovery in export-oriented industries, but BMI's latest Romania Petrochemicals Report states that the key issue for the sector remains the future of Oltchim, the troubled chemicals manufacturer that the government hopes to privatise this year.

Recently Released Market Study: Greece Oil & Gas Report Q2 2014

LogoWe foresee a steep learning curve for the Greek authorities as they attempt to establish Greece as a destination for exploration and production (E&P) investments. The multi-month delays (on account of fiscal and taxation issues) in the finalisation of the open-door licences in Ioannina and the Gulf of Patras and the nebulous arrangements of the Katakolo licence, along with an ongoing 20-month delay in appointing the statutory hydrocarbons supervisory and management agency (EDEY AE), testify to the inability of the Greek authorities to move through the process (even of this small licensing round) in a timely manner - a negative precursor to the government's aspirations for an international licensing round.

New Market Study, "Israel Oil & Gas Report Q2 2014", Has Been Published

LogoGas production from the Tamar field has largely made Israel self-sufficient in natural gas supplies, though the country did require an emergency LNG cargo during a rare December snow storm. We expect stagnation in production growth in 2015 as bottlenecks at the onshore receiving facility at Ashdod will limit output to 10.5bcm. This should be resolved by 2016 in sufficient time to take output from the Leviathan field where development is due to begin in mid 2014. Gas from Leviathan could flow from late 2018 with export opportunities increasingly likely from this point. We see comparatively strong liquids upside with growing condensate volumes from Tamar and eventually Leviathan.

Fairfax County Planning Commission Recommends Approval for ESI Green Energy Park

LogoThe Fairfax County Planning Commission voted to recommend approval of Envirosolution’s Green Energy Park on the site of its construction debris landfill in Lorton Virginia. The Green Energy Park proposal was filed with the county in April 2013. Prior to the Planning Commission meeting, ESI had amended its proposal to significantly lower the previously approved height of the landfill and reduce the requested term of the extension by 27%. “The vote last night on the amended application is an important step forward for this transformational opportunity for renewable energy in Fairfax County,” said Conrad Mehan of ESI. “The Commission’s vote validates the County’s staff’s January recommendation for approval and makes it clear that the Green Energy Park supports a range of the County’s environmental and economic objectives in a manner that is consistent with its land use plans.”

"United Kingdom Petrochemicals Report Q2 2014" Now Available at Fast Market Research

LogoBMI's latest UK Petrochemicals Report states that recent capacity closures will prevent any return to 2008 levels of production. Instead, the sector will focus on more high-value, low volume production, exploiting niche markets where it has a global competitive edge.

Market Report, "Photovoltaic Generator Market in India 2014", Published

LogoPhotovoltaic Generator Market in India 2014 states that the renewable energy sector is gaining prominence in India. With the country facing a continuous shortfall in the supply of conventional sources required to meet the increasing demand for energy in recent years, the focus is gradually shifting from conventional to renewable sources of energy. In order to reduce the current demand-supply gap for electricity within the country, the renewable energy sector has to be given high importance. With several solar PV projects coming up under the Jawaharlal Nehru National Solar Mission (JNNSM), the demand for PV cells and modules is expected to increase significantly. Moreover, the capital costs involved in setting up solar PV projects in India, along with the feasible geographical location of the country that enables it to receive around 3,000 hours of sunshine each year, makes solar PV a highly viable option for electricity generation. The domestic solar PV industry has also attracted significant investments over the past few years. These factors will ensure that the market continues to exhibit steady future growth. The Government of India is actively involved in the development of the renewable energy sector. Through its various programs, it has directly and indirectly benefitted the solar PV industry. The market is characterized by high competition among players. Although the import of low cost products from China has had a negative impact on the business of organized players, the market continues to exhibit steady growth which is expected to benefit the industry as a whole.

Now Available: Vietnam Oil & Gas Report Q2 2014

LogoOil production is set for robust growth in the short-term, as new projects are brought online or ramped up to peak production levels. However, after peaking in 2016, we forecast output to fall, as new discoveries are insufficient to offset declining volumes from the flagship Bach Ho field. New developments have the potential to boost long-term gas production, but we note that stalled progress on the Block B project could dampen the country's mid-term gas production outlook.

New Market Study Published: Iraq Oil & Gas Report Q2 2014

LogoWhile the start of major upstream projects over in the coming quarters highlights Iraq's potential, volatile production, a challenging security situation and unresolved issues with the Kurdistan region underscore the country's challenges. Although we expect strong growth in both oil and gas output over the course of our forecast period, we expect delays and setbacks to continue, causing production to underperform in light of the country's raw potential. A resolution to the political situation between Baghdad and Erbil will be a key challenge to achieving production targets and long-term growth, particularly with new export infrastructure from Kurdistan to Turkey in place.

Report Published: "South Korea Power Market Outlook to 2030 - Market Trends, Regulations and Competitive Landscape"

LogoThis report examines South Korea's power market structure and provides historical and forecast numbers for generation, capacity and consumption up to 2030. Detailed analysis of the South Korea power market's regulatory structure, import and export trends, competitive landscape and power projects at various stages of the supply chain is provided. The report also gives a snapshot of the power sector in South Korea on broad parameters of macroeconomics, supply security, generation infrastructure, transmission infrastructure, degree of competition, regulatory scenario and future potential. Financial performance of the leading power companies is also analyzed in the report.