(Oil & Gas 360) – Despite some of the highest electricity prices in the world, the United Kingdom is relegating coal to the ash heap of history as it closes the doors on the Ratcliffe-on-Soar Power Station in north-central England. The plant was commissioned in 1970 with a net electrical output of 2,000 megawatts. October 1 will mark the
(Oil Price) – This week, the International Energy Agency said that the COP28 targets for expanding wind and solar capacity were “within reach”. Yet there was a “but”. That had to do with the fast expansion and upgrade of grids and the equally fast buildout of energy storage capacity. That “but” can doom the whole transition—if it’s not already doomed.
(Oil & Gas 360) – A combined effort between one of the world’s most storied cities and the United Nations aimed at generating more urgency on climate action awaits those in New York this week at the United Nations Climate Change Conference. Climate Week NYC is from September 22 to 29. The event is held every year in partnership with
(Oil & Gas 360) – According to McKinsey and Company’s 2024 Global Energy Perspective, released earlier this week, the world is failing to reach the CO2 reduction targets outlined in the Paris Agreement nine years ago. The study examines the financial, policy, technological, and infrastructure progress on the “1.5 Degree Pathway,” which outlines steps to limit global warming to
World Oil (WO) – Kent is strengthening its presence in Houston, Texas, with significant strategic investments aimed at expanding its operations and capabilities in the region. Building on its 66-year legacy in the Americas, the company is doubling down on its commitment to the U.S. market as a central hub for its global operations. In the first half of 2024
(Oil & Gas 360) – While Americans continue to enjoy some of the lowest food costs in the world (as a percentage of income) due to a steady increase in the farming sector’s economic efficiencies, American agriculture is also emerging as a small but growing source of domestic natural gas. Farm biogas (aka renewable natural gas, or RNG) is gaining
Oil and Gas 360 Ford’s on-going” market therapy” regarding a less than enthusiastic reception for its three EV models is costing the company about $3 billion to convert a Canadian plant from its purpose-built EV design to produce more of its Super Duty truck models (F-250, 350 and 450). Trucks constitute the lion’s share of Ford’s business; its F-150 internal
Oil Price Qatar will invest $180 million in a Europe-based critical minerals investment company, joining the U.S. development bank in supporting the firm that invests in key metals for the energy transition outside China. Qatar Investment Authority (QIA), the Gulf nation’s sovereign wealth fund, said on Wednesday it would invest $180 million in TechMet, an investment company focused on building businesses across
Oil Price The energy transition would need a major change in the mentality of stock market investors to succeed. Investors’ focus on relatively fast returns and immediate financial performance right now makes them reluctant to invest in transition companies. And this could become the death knell of that transition. “Public markets are probably the cheapest cost of capital,” KKR partner
Yahoo Finance Construction of U.S. solar-manufacturing plants by Chinese companies is surging, putting China in position to dominate the nascent industry, as other American factories struggle to compete despite federal subsidies. Chinese companies will have at least 20 gigawatts’ worth of annual solar panel production capacity on U.S. soil within the next year, enough to serve about half the U.S.
World Oil (Bloomberg) – Oil giant Occidental Petroleum Corp. clinched a record carbon removal deal with Microsoft Corp. amid the software titan’s push to reduce its expanding emissions. Occidental, which is building a carbon-capture portfolio through its subsidiary 1PointFive, plans to build a fleet of plants that suck carbon dioxide directly from the air. Microsoft on Tuesday agreed to buy
Oil and Gas 360 Publisher’s Note: Industrial power company One Energy to host a virtual analyst and investor day on Monday, July 1, 2024, from 1:00 p.m. to 2:30 p.m. (ET). Registration is required: registration link. FINDLAY, Ohio–(BUSINESS WIRE)–One Energy Enterprises Inc. (“One Energy”), an industrial power company, announced today that it will host a Virtual Analyst and Investor Day
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