Insight Blog

The essential perspective on global commodities
04 May 2021

Fuel for Thought: California fracking ban a bigger boon to crude imports than bust for production

California's move to stop hydraulic fracturing permits by 2024 will likely do little to speed up the current decline in output, but any crackdown on production would boost the state's dependence on imported crude. California was once the third-largest oil producer in the US behind Texas and Alaska, according to US Energy Information Administration data. In the early 1980s, crude output in the Golden State reached 1 million b/d, behind Texas' 2.5 million b/d and Alaska's 1

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29 Apr 2021

Italy’s shifting gas sector dynamics make strong case for easing storage rules

Italy’s heavily regulated gas storage system is starting to look like a poor fit with the current realities of the domestic and European gas markets. Could its reform help tackle high energy prices? “I wasn’t trading yet. But I remember it very well—my school closed for 10 days,” said an Italian gas trader, sharing memories of February 2012, when several days of freezing temperatures across Europe and Russia triggered a sudden cut in Russian gas volumes destined to Italy

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28 Apr 2021

Fuel for Thought: Uganda's struggle to pump its first oil may be still far from over

Uganda's long-delayed maiden oil project took a vital step to becoming more than a pipe dream this month but risks still hang over hopes of new export flows from East Africa. France's Total inked the final pipeline deals needed to unlock its multibillion-dollar Lake Albert oil discoveries, and first oil is now expected to flow by early 2025

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