Mahin Siddiqui, associate at Gulf Intelligence, looks at how the current energy era is presenting opportunities for the storage industry.
The energy era has brought challenges and opportunities for the global energy industry. For all stakeholders in the energy supply chain, this remains a critical and uncertain time, and adaptation has become vital.
As the US shale boom shows resilience, and OPEC keeps its spigots at full flow, oil prices have halved to reach the $50 glass ceiling. At the same time, oil supplies from the North Sea and West Africa have reached their peak from the last three years and Russian nonchalance over a low price environment continues. Additionally, the historic deal between Iran and the super powers in June 2015 is expected to add another two million barrels of crude to an overflowing energy market once sanctions are fully lifted.
On the demand side many worry about China. As the locus of world oil demand, a further oil spread is foreseen as Beijing slows down to ...