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Power grids around the world are decentralizing at a rapid pace as renewable energy production vastly reshapes where electricity is produced. This will require a massive systems overhaul in the way that our power grids are designed, maintained, and protected. Instead of maintaining grid management at a central hub, more and more software and hardware developments are taking place at the grid edge. According to Wood Macenzie, ‘grid edge’ is “an umbrella term to cover all the distributed hardware, software and business innovations…
President Kassym-Jomart Tokayev is trying to position Kazakhstan as a leading advocate for changing “the architecture of international relations” in ways that give “middle powers” a greater say in global affairs. In an opening speech at the May 29-30 Astana International Forum, Tokayev offered a full-throated endorsement for a return to a global order rooted in multilateralism. While many emerging threats, such as global warming, are transnational, “our responses are becoming increasingly fragmented,” he said.…
China has been steadily increasing its energy investing, and therefore its influence, in emerging economies for years now. Through its ambitious Belt and Road infrastructure program, Beijing has poured over a trillion dollars into developing its trade relations around the planet since its inception in 2000. In Africa, China is the primary trading partner, and therefore a critical strategic ally in developing the continent’s energy sector. So far, the vast majority of Chinese investment has gone to the development of fossil fuels, but that…
For most of the past century, energy producers could count on steady oil demand growth. From industrial development in China to population booms in emerging markets, the global appetite for oil kept expanding like clockwork. There were occasional exceptions, like the 2008-2009 recession and the demand slump from COVID-19, but global oil demand has increased at an average rate of about 1.2 million barrels per day (bpd) for nearly 60 years. But a recent forecast from the U.S. Energy Information Administration (EIA) suggests that the world may…
Sales of drilling rights in the oil sands of Alberta are on the decline, reversing an earlier boom. The trend, attributed to Trump’s tariffs and the consequent oil price dive, was aggravated by OPEC+’s decision to unwind its cuts faster than expected. It’s also not going to affect production outlooks for Canadian oil. Land prices in Alberta’s oil sands are down 18% from last year to C$771 per hectare, or $561, Bloomberg reported this week. The trend reflects a wider decline in land lease prices, at 25% from a year ago, and,…
U.S. midstream companies are hesitant to commit to new pipeline builds amid market volatility and tariff uncertainty. Some companies are announcing new projects, especially those bringing natural gas to power data centers, but the industry is generally in a wait-and-see mode regarding greenfield projects despite the Trump Administration’s regulatory push to accelerate energy infrastructure expansion. Firms have announced in recent months new pipeline projects, but many others have preferred to buy operating assets in deals with competitors…
The Department of the Interior has announced that the U.S. Geological Survey (USGS) has discovered large oil and gas deposits in the Mowry Composite Total Petroleum System that spans parts of Wyoming, Colorado and Utah. The report estimates large hydrocarbon resources, including 473 million barrels of oil and 27 trillion cubic feet (tcf) of natural gas. That’s multiples higher than the 90 mn barrels of oil and 7.3 tcf of natural gas that the Mowry Composite system has produced since exploration began in the 1950s. “This new USGS…
Daniel Ives of Wedbush Securities raised his 12-month price target on Tesla to a Street-high $500 from $350 on Friday morning, citing the near-term launch of Tesla's autonomous ride-hailing Cybercabs as a major catalyst to spark the "golden age of autonomy." "We believe the golden age of autonomous is now on the doorstep for Tesla with the Austin launch next month kicking off this key next chapter of growth for Musk & Co. and we are raising our price target from $350 to $500 reflecting this massive stage of valuation…
Via Metal Miner With the United States and China ratcheting down the tariff war (for 90 days at least), many expected that the export of rare earths and permanent magnets would soon return to pre-trade war conditions, as MetalMiner’s weekly newsletter weighed in on in the past. However, that does not seem to be happening on the ground. Now, alarm bells are going off as market insiders anticipate a major shortage in global rare earth supplies. China Allow Some Export of Rare Earths There is a bit of positive news: China has granted…
Exploitation of the vast Vaca Muerta shale in Argentina’s central southwest has unlocked a gargantuan unconventional hydrocarbon boom for the crisis-riven South American country. Rising oil and natural gas production from the 7.7-million-acre shale play is responsible for Argentina’s burgeoning hydrocarbon output, which is proving to be a silver bullet for the crisis-prone economy. President Javier Milei’s economic shock therapy, coupled with soaring oil and natural gas production, has put Argentina on the path to recovery. Growing…
Chevron confirmed Wednesday that a fire has injured at least 17 workers and left one missing on its Benguela Belize Lobito Tomboco (BBLT) offshore platform in Angola. The fire started on Tuesday, with details released to Reuters on Wednesday by Chevron subsidiary Cabinda Gulf Oil Company Ltd. (CABGOC), which operates the platform. Emergency teams are continuing search-and-rescue operations for the missing worker, while four of the injured reportedly remain in serious condition. CABGOC stated that the cause of the fire remains under…
The European Union will propose to G7 finance ministers to lower the price cap on Russian crude from the current $60 per barrel to $50, European Economic Commissioner Valdis Dombrovskis said. Established in December 2022, the G7 oil price cap prevents Western-allied companies from providing shipping, insurance, and related services for Russian crude sold above $60 per barrel. The main objective of the price cap is to cripple Russia's ability to fund its war in Ukraine, while also maintaining reasonable flows of Russian oil to global markets to…
China installed a record 60 gigawatts (GW) of new solar photovoltaic (PV) capacity in the first quarter of 2025 – the highest ever recorded in a first quarter in the country’s history, according to Rystad Energy research and analysis. Rooftop PV accounted for 60%, or 36 GW, of that total, marking the largest quarterly capacity addition for distributed PV in China’s history. The surge was largely driven by the urgency to meet policy deadlines set by the National Energy Administration’s (NEA) new guidelines, which were released…
Egypt is once again facing a resurgence of natural gas shortages, drawing headlines as the country enters the peak summer season. With soaring temperatures above 40°C expected in the coming months, electricity demand—driven largely by air conditioning—is putting intense pressure on the national grid. In response, the Cairo government is scrambling to implement emergency measures to avoid blackouts. Despite Egypt’s ambition to become a regional energy hub and key LNG supplier to Europe and global markets, the country is struggling…
North Africa’s most resource-rich nation, Libya—home to vast hydrocarbon and mineral reserves—is once again at a crossroads. Despite its potential, the country continues to struggle with instability and lacks the international attention needed for sustainable progress. Backed by Western and Turkish support, Libya’s internationally recognized government is attempting to revitalize its upstream oil and gas sector, which is already attracting notable global interest. At the African Energy Forum in Paris, Abdolkabir Alfakhry,…
Among Central Asian citizens, China now has a better image than the United States, according to a comprehensive survey of political attitudes. The Democracy Perception Index bills itself as the “world’s largest annual study on how people perceive democracy.” The 2025 edition features data collected from over 111,000 respondents in 100 countries worldwide, including Kazakhstan, Kyrgyzstan and Uzbekistan. The results show that belief in democracy’s potential to ensure stability and prosperity remains strong, but public confidence…
Saudi Aramco, the biggest oil company in the world, largely owned by the Saudi state, slashed its dividend by 30%. The company divides its dividend into a base dividend and a variable dividend, which depends on business metrics. So why be surprised by the drop? Well, in the past five years during which Aramco has been a public company, it jiggled the dividend, but not by much. This cut is something else again. Presumably, the company is telling its investors (including the Saudi government) something. But first,a quick look at Aramco as a publicly…
US military leaders are increasingly concerned that the United States faces the prospect of global flashpoints turning into prolonged, multi-front confrontations stoked by the United States' main adversaries -- Russia, China, Iran, and North Korea. Amid tightening ties between the four countries, this likely means that short, geographically contained wars -- the kind of confrontations that the US military has largely anticipated -- are things of the past, US military officials said on May 13 in Washington at a conference hosted by the Center for…
On the heels of my recent article outlining how California’s unique fuel regulations — not corporate price gouging — are driving up gasoline prices in the state, new developments have added urgency to that conversation. On May 6, California Senate Minority Leader Brian W. Jones (R-San Diego) sent a letter to Governor Gavin Newsom sounding the alarm over what could become an energy and economic crisis in the state. Citing an analysis by University of Southern California professor Michael Mische, the letter warns that gas prices…
Saudi Arabia is again making news in the oil markets. In a move reminiscent of the disastrous price war of 2015-2016 (see OPEC’s Trillion Dollar Miscalculation), the kingdom has decided to boost oil production in a market that is already adequately supplied. The goal is to reclaim lost market share from non-OPEC producers and send a clear message to fellow OPEC members who haven’t been sticking to the script. The increase will add 411,000 barrels per day (bpd) to global supply in June, and marks the third monthly hike in a row.…
Saudi Arabia is driving a faster-than-planned oil production ramp-up among the eight OPEC+ members that were keeping a cap on their output. Saudi Arabia is also raising its oil prices for Asian buyers amid falling benchmarks. This has confused some, even though the moves point in the same direction, of stronger demand down the road. Yet this stronger demand won’t help the Saudis avoid some fiscal pain. One often-cited figure when it comes to oil prices and Saudi Arabia’s budget is $90 per barrel. This is the price of Brent crude that…
An assessment by the US Geological Survey reveals potential undiscovered oil and gas in two formations under much of the US Gulf Coast from Texas to Florida. The survey detailed that here are technically recoverable resources of 35.8 trillion cubic feet of gas and 28 million barrels of oil. That’s enough gas to power the entire United States for 14 months at the current rate of consumption, the USGS said in a note. “USGS energy assessments typically focus on undiscovered resources – areas where science tells us there may be a…
In November of last year, at the annual COP climate conference, global leaders agreed that in order to advance progress toward climate goals, developed countries would need to collectively provide a minimum of $300 billion in climate finance to the world’s poorest countries by the year 2035. Accordingly, at the end of Joe Biden’s presidential term, he announced a record $11 billion climate finance provision. Now, President Donald Trump has slashed climate finance down to nothing, in a move that will have far-reaching consequences…
Last week’s worst blackout Europe has ever seen in modern times was a wake-up call for the EU – and the rest of the world – that regardless of booming renewable energy capacity installations, power supply will not be secure unless grids are capable and flexible enough to accommodate clean energy and meet rising demand. Renewable energy proponents have been touting for years the record-breaking solar and wind capacity additions in Europe and elsewhere, calling at the same time for more investments in grids. With headline-grabbing…
