Category: Energy Market

Australians Could Struggle to Stay Warm This Upcoming Winter as Gas Shortage Looms

March 15, 2023
AEMOanthony albaneseAustraliaBusiness & MarketsChris BoweneconomyenergyEnergy MarketInternationalWorld
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Australians could struggle to stay warm this winter after the energy market regulator warned of a potential gas shortage. Daniel Westerman, CEO of the Australian Energy Market Operator (AEMO), said that as the country transitioned to net-zero, the southern—and colder—states of New South Wales, Victoria, Tasmania, the Australian Capital Territory and South Australia could be affected….

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Glencore Mints Record Earnings from High Energy Prices

August 4, 2022
Business & Marketscoal miningCompaniesenergyEnergy MarketGlencore
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Glencore, one of the largest diversified natural resources companies in the world, announced record earnings in the first half of 2022. “Elevated energy market dislocation, volatility, risk and supply disruption, led to record prices for many coal and gas benchmarks and physical premia, underpinning a $10.3 billion increase in group-adjusted EBITDA to $18.9 billion,” Glencore…

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Aussie Energy Firm Tells Customers to Look Elsewhere for Better Deals, Warns Prices Could Double

May 31, 2022
AustraliaAustralian Energy Market OperatorBusiness & Economyeconomic policieseconomyEnergy MarketInternationalnet zeroWorld
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Independent energy retailer, ReAmped Energy in Brisbane, has taken the extraordinary step of suggesting its customer’s shop around for better deals warning they could be paying twice as much on their next power bill. CEO Luke Blincoe said the energy market was “incredibly volatile” and that his company could not guarantee competitive prices in the…

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Russia Expects $321 Billion in Energy Exports in 2022 Despite Recent Sanctions

April 5, 2022
Business & Economycommoditieseconomic policiesEnergy MarketEuropeInternationalMarketsRussia-Ukraine WarRussian sanctionsWorld
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Despite severe Western sanctions levied against Russia since its war with Ukraine began Feb. 24, Russia is expected to earn nearly $321 billion from energy exports in 2022, an increase of more than a third over 2021, Bloomberg News reported. Moscow’s economy has survived a full month of sanctions and is emerging with a relatively…

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350 Million People Impacted by Global Power Outages: Report

February 1, 2022
Business & EconomyBusinesses in COVID-19economyEnergy MarketIHS MarkitInternationalMarketspower outagesWorld
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Significant power outages in 2021 affected around 350 million people, or 4 percent of the world’s population, according to a new study. In a report titled “Are We Entering an Age of Increasing Power Supply Disruptions?” IHS Markit discovered that extreme weather events and energy transition trends eroded reliability and disrupted some of the world’s…

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Biden Regulatory Uncertainty, Tight Market Supporting High Oil Prices

January 13, 2022
Business & Economycommoditiescrude oileconomyEnergy MarketMarketsNatural gasPolicies & ImpactsUS
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Crude oil and natural gas prices are off to a hot start this year, driven by strengthening global demand, tighter supplies, and regulatory uncertainty. But some Wall Street institutions and the U.S. Energy Information Administration (EIA) are split on if this momentum can be sustained throughout 2022. In its January Short-Term Energy Outlook (STEO), the…

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