In this episode of the Energy News Beat Daily Standup, the hosts, Michael Tanner and Stuart Turley discuss several key energy headlines: the creation of a $5 billion African Energy Bank to support the continent's oil and gas industry, the development of a 287 MW pumped storage hydro power facility at a former Kentucky coal mine, Turkmenistan's potential gas exports to Turkey and Europe, and the impact of an oil price plunge on BP and Shell. They emphasize the significance of localizing energy projects in Africa, the positive economic impact of repurposing coal mines, and the geopolitical implications of Turkmenistan's gas exports. They also highlight fluctuating oil prices and the potential manipulation of oil inventory data for political reasons.

Highlights of the Podcast

00:00 - Intro

01:20 - $5 billion in initial capital: Africa Energy Bank created to fund continent's oil and gas industry

03:24 - Rye Development Converting Former Kentucky Coal Mine into 287 MW Pumped Storage Hydropower Facility

04:58 - Erdogan Says Turkmenistan Could Soon Begin Gas Exports to Turkey and Europe

07:05 - Oil Price Plunge Hits BP and Shell Shares

09:54 - Markets Update

10:38 - Oil Prices Fall After API Reports

12:01 - Outro

Please see the links below or articles that we discuss in the podcast.

Rye Development Converting Former Kentucky Coal Mine into 287 MW Pumped Storage Hydropower Facility

June 4, 2024 Mariel Alumit

Rye Development will receive $81 million in funding from the Department of Energy (DOE) to convert former coal mine land in Bell County, Kentucky, into a closed-loop, 287 MW pumped storage hydropower (PSH) facility – […]

Erdogan Says Turkmenistan Could Soon Begin Gas Exports to Turkey and Europe

June 4, 2024 Mariel Alumit

Turkmenistan could soon begin exporting natural gas to Turkey and then Europe via the expanded Trans Anatolian Natural Gas Pipeline Project (TANAP), Turkey’s President Recep Tayyip Erdogan was quoted as saying on Tuesday. Turkmenistan, rich […]

Oil Price Plunge Hits BP and Shell Shares

June 4, 2024 Mariel Alumit

The slump in oil prices so far this week has dragged down shares in the top UK-based oil and gas supermajors, Shell and BP, with their stock falling on Tuesday and pushing London’s main FTSE […]

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