supply

Oil production is expected to steadily outstrip supply until 2020 but after this point, additional investment will be needed to boost output

SmartestEnergy has signed a deal to adopt a flexible energy management platform. Created by Origami Energy, the technology allows both providers and users of flexible energy contracts to accurately monitor and automatically dispatch large numbers and types of assets in real-time. SmartestEnergy says the role of energy flexibility is growing in importance as the industry continues […]

A House of Lords Committee has warned of potential threats posed to the UK’s energy trade if the nation leaves the EU. In a new report, the EU Energy and Environment Sub-Committee suggests Brexit risks the UK’s currently “frictionless trade in energy with the EU”. The EU currently supplies around 12% of British gas and […]

A British demand response firm has announced plans to become an energy supplier and take on the Big Six. Flexitricity plans to give its industrial, commercial and public-sector customers access to National Grid’s flexible power market, known as ‘the Balancing Mechanism’, by seeking a supply licence. The Balancing Mechanism is the real-time flexible electricity market […]

Higher oil prices are continuing to drive up wholesale energy costs by as much as 10%. That’s the suggestion from energy consultancy Inprova Energy, which says this is largely a result of OPEC and other major producers extending an agreement to cut crude oil production by nearly 2% until the end of 2018. It claims […]

Britain is importing an “increasing amount” of electricity from continental Europe which is putting its supply at risk. A new report projects the UK will receive 67TWh of power from interconnectors by 2030 – a 10-fold increase in the projection made five years ago. In the 12 months to March this year, the UK imported […]

Global gas supply is forecast to grow at a rate of 1.4% a year by 2030. That’s according to a new report from data and analytics firm McKinsey Energy Insights (MEI), which predicts natural gas will represent 23% of the global energy mix by 2030, up from 22% in 2016. The company expects total natural gas […]

Liquefied Natural Gas (LNG) oversupply will last into the mid-2020s. That is according to a new study from Aurora Energy, which says this is likely to dampen the value of contracts in the market as LNG hits the bottom of its boom-bust cycle. The firm predicts weak demand is likely to prevent a swift recovery […]

Kazakhstan is to cut its uranium output by 10% in 2017. The world’s biggest producer of the nuclear fuel plans to make the reduction in the face of a prolonged supply glut that has seen its price fall from $50 (£40.6) to 20$ (£16.25) a pound over the last five years. This drop is thought […]

Chinese oil demand is forecast to reach record levels this year. The state-owned China National Petroleum Corporation (CNPC) predict the nation’s requirements will grow 3.4% to reach almost 12 million barrels a day. Combined with surging automotive sales and efforts to fill Strategic Petroleum Reserves with 90 days of forward cover, this has led refineries to ramp up production despite […]