Many major corporations have made sustainability commitments which often include ensuring a minimum level of renewable energy is used to produce their goods and services. These targets are generally higher than local utilities can provide, so corporations are increasingly striking deals to procure their own renewable energy and, in some cases, ditching their traditional power provider completely.Read more
Under pressure from depressed oil prices and voluntary production cuts, the Saudi economy is feeling the pinch. To provide some much-needed relief and capital to diversify their economy, the Saudi royal family is moving towards an IPO of Saudi Aramco, as early as 2018.Read more
Alternative [Energy] Facts: Lazard’s latest Levelized Cost of Energy Analysis shows just how competitive some unsubsidised alternate energies have become versus unsubsidised conventional sources.Read more
On November 30th, after months of negotiations, OPEC reached a deal to curb their oil production in an attempt to boost the global oil price. Two weeks later, a second deal was struck with non-member countries, most notably Russia. Despite an initial oil price jump of almost 20%, serious concerns remain that, in the long-term, the deals will not provide the desired price increase for the group of oil-producing nations. As agile shale oil players in the United States mobilise in response to the higher price and growing optimism in the industry, it is not hard to see why...Read more
Never has the expression “winds of change” seemed more appropriate than in the case of DONG Energy. DONG is the largest energy company in Denmark and has significant operations in the UK. Once you accept that DONG is actually the name of the company, you may be equally surprised to hear that the acronym stands for Dansk Olie og Naturgas (Danish Oil and Natural Gas). Far from its origins in oil and gas, today DONG Energy is a champion of offshore wind.Read more
November 7th: COP22, the follow-up session to last year's Paris UN Climate Change Conference kicked off in Marrakech, riding a wave of momentum from the signing of the Paris Agreement by 190+ countries and a recent announcement by U.S. and China to formally ratify the agreement.
November 8th: Donald Trump becomes president-elect of the United States of America, quickly appointing a leading climate-change denier to head the EPA transition team. Both the Paris Agreement and the new U.S. Administration's policies could have profound implications for the global energy industry. Right now the only thing that is certain is uncertainty.Read more