Upstream In Perspective

A desire for lower-carbon, reliable electricity is reviving interest in nuclear power generation. S&P Global energy market experts Yulia Ivanovskaya and Conway Irwin join EnergyCents hosts Hill Vaden and Sam Humphreys to discuss how demand from datacenters is contributing to a revival of interest in nuclear power and to consider what challenges must be overcome to convert this enthusiasm to electricity. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

NewMed Energy is focused on exploring for and bringing to market natural gas discoveries from the Eastern Mediterranean. The Israel-based firm is partnered with Chevron on its Leviathan Project and has additional interests in earlier-stage projects in waters off Cyprus and Morocco.     Kul Karcz, NewMed Energy VP of Exploration and ESG Manager, joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss NewMed’s exploration activity in the Eastern Mediterranean and consider some of the opportunities and challenges in working to monetize discoveries from the gas-rich province.    Learn more about NewMed Energy at: https://newmedenergy.com/about-us/   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Oil markets have responded with complacency to sanctions on major producers, rerouting of tankers, and military unrest in the major supply areas. S&P Global oil markets expert Karim Fawaz joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss why this complacency may represent a new normal as spare capacity within OPEC+ and supply growth from outside OPEC meet moderating demand in the US and China.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

EVPassport is working to accelerate the adoption of electric vehicles by improving the user experience when charging through its focus on reliability and ease of adoption.  The California-based EV-charging platform received a $200 mm investment from Northleaf Capital Partners in 2023 and today operates more than 5,000 chargers in 35 states through partnerships with hotels, parking garages, and multi-family residential properties. Hooman Shahidi, EVPassport CEO and co-founder, joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss the company’s path since its 2020 founding and how the company’s commitment to customer experience differentiates it from other EV-infrastructure innovators. Learn more about EVPassport at: https://www.evpassport.com/ Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Despite being a key component in lithium-ion battery manufacturing for electric vehicles, Graphite has so far escaped the media attention that its comparable metals, lithium, cobalt and nickel has had. But with the roll out of EV’s and energy storage, graphite demand is expected to grow by around 20% by the end of the decade. S&P Global metals expert Gavin Montgomery joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss the role both natural and synthetic graphite have to play in the energy transition and which markets will play the biggest role in the future. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

The steel industry accounts for almost 10% of the world’s final energy demand and greenhouse gas emissions. Nucor (NYSE: NUE), North America’s largest steel producer and recycler, pioneered lower-emission electric arc furnace steelmaking more than 50 years ago and continues to prioritize innovation in sustainable steel as it works toward a 2050 net-zero target. Tabitha Stine, Nucor General Manager of Energy Solutions Services, joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss Nucor’s net-zero ambition and how the steelmaker is partnering with utilities, datacenters, and others to limit its carbon footprint. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en  

India plans to grow its refining capacity by about 60% to 8 mmbd over the next 10 years to meet both domestic demand and spur refined-product exports. S&P Global Refining Expert Pulkit Agarwal joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss India’s ambition to expand its largely state-owned refining capacity and how planners expect to balance interest in both petrochemicals and transportation fuels.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en  

The United Kingdom established state-owned Great British Energy in July 2024 to develop domestic clean energy supply, create jobs, and advance the country’s net-zero ambition. Glenn Rickson joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss what role this company will play in the renewable power sector and impact this will have on risk tolerance for future clean energy developments.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

The African Energy Chamber began in 2018 to promote the continent’s energy sector and support indigenous companies’ efforts to expand their networks and engage international partners. The organization is preparing to host its fourth annual African Energy Week conference from November 4-8 in Cape Town, South Africa where this year's theme is, "Invest in African Energies: Energy Growth through an Enabling Environment." NJ Ayuk, African Energy Chamber Founder and Executive Chairman, joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss the chamber’s ambition to eliminate energy poverty by 2030, as well as its belief that goals can be realized with commitments to innovation in both traditional and emerging energy domains. Learn more about African Energy Chamber and African Energy Week at: https://energychamber.org/ https://aecweek.com/   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Capacity auction prices for 2025/2026 delivery year jumped nearly 10x from the prior delivery year to $269.92/MW-day for much of PJM, a regional power market in the eastern United States. S&P Global Power Markets Expert Tanya Peevey joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss reasons behind the price spike and consider whether rule changes will help incent investment in long-duration power supply for the region.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Led by investment in intermittent renewables, Texas has added more new power supply to its grid over the past five years than any other state. However, the lack of growth in long-duration power generation and increased frequency of extreme weather events have given way to reliability concerns within ERCOT. S&P Global power markets expert Mike Pickens joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss the Texas Energy Fund and how regulators expect state-backed low-interest loans can unlock investments in new gas-fired generation projects in ERCOT. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Europe’s Carbon Border Adjustment Mechanism (CBAM) now requires its trade partners to declare the carbon content associated with production of imported goods including iron, steel, aluminum, cement, fertilizer, hydrogen, and electricity. Trade partners will be asked in 2026 to buy CBAM certificates for these specified goods to access European markets.  S&P Global Expert Coralie Laurencin joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss CBAM’s recently begun transitional period and how policy makers expect it to support decarbonization ambition and increase the competitiveness of European industry.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en  

itselectric, a Brooklyn-based electric vehicle (EV) curbside charging company, partners with municipalities and property owners to install, operate, and maintain public chargers on sidewalk curbs. The Level-2 charging ports use spare electrical supply from nearby buildings via a revenue share with property owners and allow EV-drivers to recharge their vehicles without the hassles of locating off-street parking, garages, or out-of-the way charging stations.  Tiya Gordon, itselectric co-founder and COO, joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss itselectric’s business model and how the company is working behind-the-meter to accelerate zero-emission vehicle adoption in cities. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

The California Air Resources Board (CARB) pioneered much of North America’s emissions-reduction policies and is now in the process of updating its regulations as net-zero deadlines near. S&P Global experts Erin Tully and Matt Williams join EnergyCents hosts Hill Vaden and Sam Humphreys to discuss California’s Low Carbon Fuel Standard (LCFS) and Cap-and-Trade Program and how these initiatives may evolve as the state makes progress toward its goal of net-zero emissions by 2045. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

New Zealand announced on August 26, 2024, that it will reverse its 2018 ban on offshore oil and gas exploration before the start of 2025. S&P Global Expert Joe Keith joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss background behind New Zealand’s exploration ban and how domestic demand for natural gas influenced a campaign for its reversal.   Note: this podcast was recorded on August 7, 2024.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en  

Metals are increasingly a part of the global energy story as low-carbon technologies compete with fossil fuels for market share. Energy planners are therefore paying renewed attention to, and often investing in, the metals and mining sector. S&P Global Expert Nick Trickett joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss how clean-electron ambition is stimulating interest in global metals and how China has become a major player in the sector.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Production from shale has always been driven by those wells drilled in core acreage. While core inventory depletes each year, each well’s recovery rate is low enough that production growth remains possible with improvements in technology. S&P Global Expert Prescott Roach joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the potential for refracs in North America’s mature shale plays and why industry is optimistic about incremental oil and gas volumes from already-drilled wells.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Low-cost manufacturing of solar technologies has enabled one of the fastest growth trajectories of global low-carbon energy supply. The pace of growth, led by China, has led to both a glut in supply and protectionist measures from other countries looking to develop solar capabilities of their own. S&P Global expert Cormac Gilligan joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss the success of solar in decarbonizing electricity markets and share perspective on what the future may hold for the fast-growing sector. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Diversified Energy owns and operates onshore natural gas wells in the United States and has built itself by acquiring the long-lived, non-core assets of other operators. The company prides itself on ensuring consistent free cash flows from operations; reducing its portfolio’s scope 1 methane emissions; and retiring end-of-life wells through its Next LVL Energy affiliate.   Diversified Energy Senior Vice President of Investor Relations & Corporate Communications Doug Kris joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss how Diversified’s core competencies acquiring, managing, and retiring mature upstream assets enable the company to deliver shareholder value and meet, or exceed, sustainability goals.   Learn more about Diversified Energy at: https://www.div.energy/about-us/   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

The Atlantic Margin, the play between the west coast of Africa and the east coast of South America, is increasingly under the upstream spotlight. With high E&P potential in countries like Guyana, Suriname and Namibia, many major oil and gas players are keen to explore and invest.  S&P Global experts Ford Tanner and Ida Hockerfelt join EnergyCents hosts Hill Vaden and Sam Humphreys to discuss the potential in the Atlantic Margin, as well as the responses from governments in the region towards foreign investment.  Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en