Speaking at this year's International Union of Marine Insurance conference in Berlin, Simon Williams, chairman of IUMI's offshore energy committee, reported continuous growth in the sector with 2015 capacity reaching around $7bn, although he cautioned that $5.5bn was more realistic.
The consensus among analysts is that cheaper oil should be broadly neutral for Latin American countries in general, with clear winners and losers. Their expectation is that net oil exporters will suffer from lower oil prices and net oil importers will benefit. Although we can agree with that general short-term diagnosis, it is predicted that a sustained period of lower oil prices will have a net negative impact on Latin America and on the prospects of U.S. manufacturing companies doing business in the region.
Dow Chemical is investing $6bn to enlarge its manufacturing facilities in the United States by 40 percent, based on a wager that low natural gas prices here will persist into the middle of the next decade, a Dow executive said recently.
LPG shipping earnings are forecast to remain buoyant on the back of low oil prices and the absence of fuel substitution, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.
The global lubricants market is estimated to reach a demand totaling 44,165 kilo tons by 2020, up from 39,140 kilo tons in 2013, according to a report from Transparency Market Research. The increase is based on growth rates of 1.72 percent between 2014 and 2020.
A steep rise in vessel orders risks bringing the recent bonanza in oil tanker shipping to an abrupt end, according to the latest edition of the Tanker Forecaster, published by shipping consultancy Drewry.
During the past 2 years, more flexible sourcing strategies across the wind power supply chain have resulted in cost reductions, enabling greater geographic market access while reducing risk and ensuring profitability for wind turbine vendors and their partners in the component value chain. Overcapacity, however, persists in most, though not all areas of the supply chain, providing purchasers with more choice, flexibility, and cost control.
Global oil and gas exploration projects worth more than $150bn are likely to be put on hold next year as plunging oil prices render them uneconomic, data shows, potentially curbing supplies by the end of the decade.
The United States has enough shale gas to supply the surge of recently announced petrochemical expansions and, despite anemic prices, producers have no plans to stop pumping as long as demand exists, a Southwestern Energy executive said Thursday.
Global liquefied natural gas (LNG) trade is booming, and Australia will play a growing role in the Asian market despite increasing competition and cost pressures, according to the 2014 Gas Market Report that was recently released by the Bureau of Resources and Energy Economics (BREE).
