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Petrostate Blog for the period 25.12.2017 to 07.01.2018

At this usually slack turn-of-the-year time, writers and commentators take the opportunity to look back at what happened in 2017 and venture guesses and advice for 2018. A broad view on many issues are given in the Quarts News Service Africa that among other things look at “How the African economies tipped to thrive in 2017 actually performed” Continue reading Petrostate Blog for the period 25.12.2017 to 07.01.2018

Petrostate Blog for the weeks 27.11 to 10.12. 2017

In its World Energy Outlook 2017, IEA focuses on the advantages of natural gas for power generation. The role of natural gas in the future is inextricably linked to its ability to help address environmental problems. With concerns about air quality and climate change looming large, natural gas offers many potential benefits if it displaces more polluting fuels. This is especially true given limits to how quickly renewable energy options can be scaled up and that cost-effective zero-carbon option can be harder to find in some parts of the energy system. The flexibility that natural gas brings to an energy system can also make it a good fit for the rise of variable renewables such as wind and solar PV. Continue reading Petrostate Blog for the weeks 27.11 to 10.12. 2017

Petrostate Blog

A tremor in the worlds petro markets was caused recently by Norway’s sovereign fund proposing to sell off some USD 35 billion of its oil and natural gas stocks.  It caused a sharp but temporary drop in the worlds petro-stocks until the Norwegian Central Bank, that manages the fund, explained that they had merely made a proposal to the Ministry of Finance.  The Ministry will now consider the proposal and perhaps take it to the national assembly. A final decision is not expected before far into 2018.

Although the environment lobby was jubilant, the Central Bank denied that the shedding of oil stocks took place because the bank saw a future decline in the global petro industry. The Deputy Governor argued that the move was meant to diversify the economy and guard against drops in petroleum prices. Norway derives a hefty 20% of its GDP from oil and gas.

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