US onshore oil production averages a 33 percent IRR, observes a Wood Mackenzie report ‘How oil & gas Majors can scale in renewables’. By comparison, a wind project in a developed country generates around 7 percent IRR, while solar earns just 5 percent.
Crude prices have suffered their steepest and fastest fall in a decade. The Brent crude price has fallen to just $58.68 per barrel from $86.70 at beginning of October, a decline of a third. The price of crude is determined primarily by actual and prospective supply-and-demand factors and secondarily by […]
China is the world’s second largest importer of LNG after Japan and an important customer for U.S. LNG. For example, this year between January and August, China purchased 1.6 of the 14.9 million tonnes of U.S. LNG, according to Thomson Reuters’ data, but Sept. 24 marked the start of President […]
Even today, gas from the North and Irish Sea supplies almost half of the UK’s needs leaving the lion’s share to imports via 4 pipelines fromEurope and Norway and some 9 percent to LNG tankers. 80 percent of the UK’s 25 million homes are powered by gas, one quarter of […]
The GCC states are facing up to the challenge of combining energy diversity with security