Low oil prices and mounting financial stress is resulting in small and medium-sized shale oil extractors going bankrupt, and this could have far-reaching consequences.
BY KELD LOUIE PEDERSEN
Like large, patient marionettes, oil wells continue to pump up and down day after day, all year around, also at the US' large shale oil fields, which serve as a partial explanation for ample oil supply in the global market.
The ongoing patent lawsuit between GE and Siemens Gamesa stands to greatly backfire for the US giant, which could force players such as Ørsted to find new offshore wind turbines. The power company itself claims this risks leading to ”potentially irreversible” delays on a gigawatt-scale project.
With the country’s hydroelectric reservoirs now at low levels after a dry spring, Norwegian policymakers consider reducing electricity export to Europe, but any move to do so, barring emergency, must adhere to single energy market regulations, says interest group.