(World Oil) – Turkey said it wants to help increase oil and natural gas production in Syria, the latest step in Ankara’s overtures for deeper involvement in the reconstruction of the war-torn country. Turkish authorities are also working on ways to meet Syria’s electricity needs after more than a decade of conflict damaged the country’s infrastructure, Turkish Energy Minister Alparslan
(Oil Price) – The future of data centers is about to make a huge draw on the power grid. According to a DOE-backed report from Lawrence Berkeley National Lab, U.S. data center energy use could nearly triple by 2028, eating up as much as 12% of the country’s electricity. Why? Blame AI and its insatiable hunger for powerful chips and energy-guzzling
(Investing) – WASHINGTON – The U.S. Department of Energy has zeroed in on three regions of the country it has determined are in major need of new electric transmission infrastructure and eligible for future federal funding, it announced on Monday. The DOE selected Lake Erie-Canada, including parts of Lake Erie and Pennsylvania; the Southwestern Grid Connector, including parts of Colorado, New
(World Oil) – e2Companies has announced a strategic collaboration with Nabors that will expand business opportunities for integrated power solutions in the oilfield and broader energy markets. By combining Nabors’ global expertise and relationships in oil and gas with e2Companies’ Virtual Utility®, the companies aim to develop and market tailored solutions for the unique demands of the oilfield and assess
(Oil Price) – The world’s consumption and exports of thermal coal are expected to rise this year from 2023 to hit fresh record-highs, according to export and power generation data cited by Reuters columnist Gavin Maguire. Coal-fired electricity generation has increased so far this year by 2% compared to 2023, to hit new highs as power demand in emerging markets grows. Coal power
(BOE Report) – Major U.S. utilities are expected to spend heavily on upgrading their electric lines and grids over the next five years to cater to power-hungry sectors, although experts worry that their plans to raise rates sharply to offset higher costs may face regulatory hurdles. In the past few weeks, about nine utilities had raised their capital expenditure forecast by
(Oil & Gas 360) – Home to some of the highest electricity prices on the planet, England is promoting a Demand Side Response (DSR) program to incentivize people to “adjust” their electricity consumption at peak periods. Incentives include coupons for consumer goods and credits on people’s credit cards with similar incentives for businesses as well. DSR skeptics say the program isn’t
(Oil & Gas 360) – As Artificial Intelligence (AI) expands to potentially revolutionize every aspect of human existence, the expected electrical demands required by the power devouring technology in its earliest stages present a formidable planning and financing challenge for utilities and other power plant developers. The so-called electrical boom, the result of everything from growing economies and populations, cloud computing
(Oil & Gas 360) – Earlier this week, the world-famous Paris Auto Show saw some international political heft inserted into its usual line-up of fast cars over the European Union’s electric vehicle (EV) mandates. BMW’s CEO Oliver Zipse warned that EU efforts to virtually eliminate the production of internal combustion engines (ICE) and diesel-powered vehicles over the next ten years
(Investing) – MEXICO CITY – Mexico’s Senate voted to amend the country’s constitution late on Wednesday to give dispatch preferences to state electricity company CFE, cementing the national power generator’s preferential status above foreign or private competitors. The initiative passed the upper chamber of Congress with 86 votes to 39, meeting the requirement of two-thirds support to change the constitution. The
(Oil Price) – Moderating inflation and reduced market volatility compared to 2022 and 2023 resulted in lower prices for renewable electricity in power purchase agreements across Europe. During the third quarter of 2024, power purchase agreements (PPAs) for electricity sourced from renewable energy showed a 12.4% decline in price, compared to the same period of 2023, according to data from price
(Oil Price) – UK power group Drax has found that wood burnt at its biomass power station in the UK is “highly likely” to have come from environmentally sensitive areas of old forests in Canada, the Financial Times reported on Wednesday, citing internal Drax emails it has seen. A Drax internal review has found that the wood from its suppliers from British Columbia
