Oil
The oil market in
crisis
Wood Mackenzie, March 18, 2020
What’s the oil price, how will this impact production and supply, and what does it mean for the upstream sector as a whole? The coronavirus outbreak has derailed OPEC+, thrown the oil market into turmoil and sent an already unloved sector into freefall. Here we address some of the most frequently asked questions about the oil price crash and what it means for the energy sector.
Gas
German
Court Rejects Last Obstacle to Nord Stream 2 Construction
Pipeline & Gas Journal, March 17, 2020
A remaining legal hurdle for the Nord Stream 2 pipeline has been cleared as the Higher Administrative Court of Berlin-Brandenburg has rejected a complaint regarding the environmental impact assessment (EIA) for a portion of land to be used for the pipeline. A complaint filed by private landowner Malte Haynen and reported by the Eurasia Review claimed that the EIA on which the planning approval for the EUGAL pipeline was based was incomplete. The EUGAL pipeline is the land-based portion of the Nord Stream 2 pipeline that will run 310 miles (500 kilometers) across Germany to the Czech Republic. The pipeline would cross .02 miles of Haynen’s property.
Mining
From the Bloomberg Open, March 18, 2020
“A credit-line crunch looms. Leisure, transportation, health care, energy and mining companies are drawing billions of dollars from existing lines or negotiating new ones. If they draw up to 70% of their available credit, about $700 billion will be sucked from Wall Street’s liquidity pools. Goldman last week said a 100% drawdown may bring seven of the biggest banks close to breaching liquidity ratios.”
Politics
Dunleavy forms bipartisan economic stabilization team to tackle losses related to coronavirus
White house shows support for proposal to send checks to Americans to boost economy