world news

PwC and TOP Education join forces - 3 June

PwC Australia has acquired a 15 per cent stake in TOP Education, a Sydney-based private higher education provider, in move that will strengthen the firm's focus on Australia's third largest export - international education.




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World's top 40 miners down but not out - 7 June

The world's top 40 mining companies were in a race to the bottom in 2015, with falling market capitalisations and net losses leaving them slower, lower and weaker, according to PwC's Mine 2016 report released today.




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Who's the fairest of them all? Australian entertainment & media industry needs diversity to grow - 8 June

A lack of diversity in Australia's media and entertainment workforce in terms of ethnicity, gender, age and thinking is dragging on the industry's growth, according to a PwC report released today.




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EIA forecasts U.S. crude oil production to decline because of low oil prices (4/15/2020)

In the April 2020 update of its Short-Term Energy Outlook (STEO), released on April 7, and before a recently announced agreement by oil producing countries to limit production, the U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil production will average 11.8 million barrels per day (b/d) in 2020, a 4% decline from the 2019 production levels. Crude oil production will average 11.0 million b/d in 2021, a 6% decline from 2020 (Figure 1). If realized, the STEO 2020 production decline would mark the first annual decrease since 2016. The majority of the forecasted production decline occurs between the first and fourth quarters of 2020, dropping from 12.7 million b/d to 11 million b/d (13%) and remaining around that level through 2021. The forecast did not incorporate the April 12 joint announcement by the Organization of the Petroleum Exporting Countries (OPEC) and several other non-OPEC countries to reduce crude oil production. These production reductions may significantly affect global balances and could provide upward price pressure that would affect U.S. crude oil drilling and production. ...




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WTI crude oil futures prices fell below zero because of low liquidity and limited available storage (4/22/2020)

On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of the following trading day. Monday marked the first time the price for the WTI futures contract fell below zero since trading began in 1983. Negative prices in commodity markets are very rare, but when they occur they typically indicate high transactions costs and significant infrastructure constraints. In this case, the WTI front-month futures contract was for May 2020 delivery, and the contract was set to expire on April 21, 2020. Unless they have made other arrangements ahead of time, market participants that hold WTI futures contracts to expiration must take physical delivery of WTI crude oil in Cushing, Oklahoma. Typically, most market participants close any futures contracts ahead of expiration through cash settlement in order to avoid taking physical delivery, and only about 1% of contracts are physically settled. The extreme market events of April 20 and April 21 were driven by several factors, including the inability of contract holders to find other market participants to sell the futures contracts. In addition, in this case, the scarcity of available crude oil storage meant several market participants sold their futures contracts at negative prices, in effect paying a counterparty to close out of the contracts. ...




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Record low demand and low crack spreads drive refinery run declines (4/29/2020)

Transportation fuel demand in the United States has decreased since mid-March 2020, as a result of reduced economic activity and stay-at-home orders aimed at slowing the spread of the 2019 novel coronavirus disease (COVID-19). With low demand and a decrease in profitability, as measured by crack spreads, U.S. refineries have reduced gross inputs (runs), which dropped to 12.8 million barrels per day (b/d) for the week ending April 17, 3.8 million b/d lower than the previous five-year (2015–19) average and the lowest level since 2008 (Figure 1). Gross inputs increased slightly to 13.2 million b/d the week of April 24. ...




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Low crude oil prices, record-high inventories, and low demand drive gasoline prices down (5/6/2020)

On April 27, 2020, the U.S. average regular retail gasoline price was $1.77 per gallon (gal), the lowest price since February 2016. On May 4, the U.S. average gasoline price increased slightly to $1.79/gal. The United States declared a national emergency on March 13 in response to concerns regarding spread of the 2019 novel coronavirus disease (COVID-19). From March 16 to May 4, the U.S. average regular retail gasoline price fell by $0.46/gal. The lower gasoline prices reflect low crude oil prices, low gasoline demand, and rising gasoline inventories. ...




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Annual Energy Outlook 2020




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AEO2020: Alternative Policies - Varying Residential Solar Photovoltaic Utility Rate Structure




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AEO2020: Alternative Renewables Cost Cases




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AEO2020: Alternative Policies - Carbon Fee Cases




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AEO2020: Alternative Policies - 50% Carbon-Free Generation by 2050











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Astronomers in Hawaii capture high resolution images ..ky imaging’ technique, probe into planet's cloud tops - Firstpost

  1. Astronomers in Hawaii capture high resolution images ..ky imaging’ technique, probe into planet's cloud tops  Firstpost
  2. Giant Planet More Astounding Than Before  NEWS9 live
  3. Scientists obtain 'lucky' image of Jupiter  BBC News
  4. New images of Jupiter captured by astronomers using `lucky technique`  WION
  5. Scientists probe Jupiter's violent storms, lightning strikes  EdexLive
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'Walked all night on tracks, left behind as I couldn't keep up' says Aurangabad tragedy survivor; 16... - Firstpost

  1. 'Walked all night on tracks, left behind as I couldn't keep up' says Aurangabad tragedy survivor; 16...  Firstpost
  2. Sorry, we have run out of all words today  Mumbai Mirror
  3. NHRC issues notice to Maharashtra govt over deaths of migrant workers in Aurangabad train mishap, seeks det...  Zee News
  4. 16 walking home to MP fall asleep on rail tracks, run over in Maharashtra  The Indian Express
  5. Tragedy on tracks  The Indian Express
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Riyaz Naikoo’s killing a shock, says Hizbul Mujahideen boss Syed Salahuddin - Hindustan Times

  1. Riyaz Naikoo’s killing a shock, says Hizbul Mujahideen boss Syed Salahuddin  Hindustan Times
  2. Hizbul Mujahideen chief Syed Salahuddin claims responsibility for Handwara attack, says `India has upper ha...  Zee News
  3. DSP among six injured in Budgam as cops, residents clash over lockdown violation  Times of India
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