LONDON, April 29 (Reuters) – Electrification was the
greatest achievement of the 20th century, according to the U.S.
Academy of Engineering.
For people in North America and Europe, the availability of
power at the flick of a switch has become so commonplace it is
no longer remarkable.
LONDON, April 25 (Reuters) – Britain’s most ambitious smart
grid project is being built on a housing estate in Leighton
Buzzard, a rapidly growing commuter town north of London.
UK Power Networks (UKPN), which owns and operates
electricity cables and lines across southeast England, is
installing a giant battery farm that will supply electricity to
local users at peak times.
LONDON, April 24 (Reuters) – U.S. crude stocks held by
refiners, traders and pipeline companies have hit the highest
level since the Great Depression, as refiners hold out for
cheaper prices before they take in more domestic oil.
Stocks rose 3.5 million barrels last week to almost 398
million barrels, according to the latest data from the Energy
Information Administration (EIA). It is the highest volume of
crude in commercial storage since weekly records began in 1982
LONDON, April 22 (Reuters) – The White House likes to claim
a share of the credit for the drilling revolution that has
transformed North America’s energy production and security.
Except the revolution has largely taken place on private
rather than public land, and energy producers feel frustrated
about the numerous obstacles and long delays in obtaining
permission to drill in areas directly controlled by the
LONDON, April 17 (Reuters) – Combined production of crude
oil, gas and condensates in the United States is on course to a
hit a record this year, passing the previous peak set in 1972.
The rise in output has confounded the famous forecast made
by Shell geologist M King Hubbert who predicted that U.S. oil
and gas production would peak in the 1970s and then decline.
LONDON, April 15 (Reuters) – Electro-Motive Diesel, the
world’s largest diesel locomotive manufacturer, has taken
delivery of the first of four specially designed liquefied
natural gas (LNG) tenders ultimately destined for use on the
Canadian National railroad.
The remaining tenders, each equipped with a fuel tank
capable of carrying 45,500 litres of LNG, are due to be
delivered before the end of June, according to specialist
industry publication “Railway Age”.
LONDON, April 14 (Reuters) – Extreme winter weather and
increased congestion have slowed rail shipments on large parts
of the U.S. network to a crawl since the start of the year,
prompting farmers and other rail users to complain.
“(We) are growing increasingly concerned about the
deterioration in service that is now occurring over significant
areas of your system,” regulators at the Surface Transportation
Board (STB) wrote in a letter to Burlington Northern Santa Fe
(BNSF) railroad at the beginning of February.
LONDON, April 11 (Reuters) – U.S. exploration and production
companies are finding accumulations of crude and condensates
twice as fast as they are producing them, according to
statistics published on Thursday.
Proved reserves of crude stood at 30.5 billion barrels at
the start of 2013.
If condensates are included, proved reserves reached 33.4
billion barrels, the highest since 1976, according to a new
report from the U.S. Energy Information Administration (“U.S.
crude oil and natural gas reserves proved reserves” April 10).
LONDON, April 9 (Reuters) – The United States has replaced
OPEC as the marginal petroleum supplier to the world thanks to
the shale revolution and improvements in automotive fuel
Net U.S. imports of crude and products have halved over the
last five years, or by an amount equivalent to the entire daily
crude exports of Saudi Arabia.
LONDON, April 7 (Reuters) – The oil market has rarely been
so quiet. Benchmark Brent has traded in a narrow range of $5
either side of $110 per barrel since the summer of 2012.
Price volatility has fallen to some of the lowest levels
since crude futures markets were established in the early 1980s.