Nasdaq WASHINGTON (Reuters) – The U.S. proposed rules on Friday for how energy companies can access billions of dollars in tax credits for producing low-carbon hydrogen using new clean energy sources but left thorny issues, such as how nuclear power could benefit, uncertain. The credit will be based on the life-cycle greenhouse gas emissions from the power source used in hydrogen production,
Oil Price As green hydrogen becomes an ever more important clean energy source, governments and energy companies must prepare for a steep incline in production in the coming years and ensure they have the correct infrastructure to transport it. Some regions of the world are already establishing major hydrogen corridors, such as the Spain – Netherlands link in Europe. Adapting
World Oil (Bloomberg) — President Joe Biden is set this week to announce as much as $7 billion in funding for hydrogen projects across the country as part of a competition to jump-start production of the clean-burning fuel in the U.S., according to people familiar with the matter. The funding for so-called hydrogen hubs, where the gas can both be
World Oil WO) – Chevron U.S.A. Inc., through its Chevron New Energies division, has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC, and thus a majority interest in ACES Delta, LLC, which is a joint venture between Mitsubishi Power Americas, Inc. and Magnum Development. ACES Delta is developing the Advanced Clean Energy Storage project in
Investing The Biden administration’s climate agenda is facing an unexpected challenge in drought-prone Corpus Christi, Texas, where a proposed clean hydrogen hub would require the installation of energy-intensive, expensive and potentially environmentally damaging seawater desalination plants. The Gulf Coast port is in the running for up to $1 billion available under President Joe Biden’s 2021 Infrastructure Investment and Jobs Act
World Oil (WO) — Technip Energies won a contract award from ExxonMobil for front-end engineering and design (FEED) for the world’s largest low-carbon hydrogen production facility. The low-carbon hydrogen, ammonia and carbon capture facility in Baytown, Texas, will produce 1 billion ft. of low-carbon hydrogen per day. It will also capture over 98% of related CO2 emissions, which is around
World Oil (WO) — MMEX Resources Corp., sponsor of the Trans Permian H2Hub announced that The U.S. Department of Energy (DOE) approved its concept paper to advance to the final application stage under the guidance for funding clean hydrogen infrastructure. On September 22, 2022, the DOE released its Funding Opportunity Announcement (FOA) to solicit Regional Clean Hydrogen Hubs (H2Hubs) under
CNBC The United States’ Inflation Reduction Act represents a “turning point” when it comes to the economics of technologies such as renewables and hydrogen, according to Goldman Sachs. During an interview with CNBC’s Steve Sedgwick on Tuesday, Michele DellaVigna — who is Goldman’s commodity equity business unit leader for the EMEA region — touched upon a number of issues related
CNBC Hydrogen use by the G-7 could jump by four to seven times by the middle of this century compared to 2020 in order to “satisfy the needs of a net-zero emissions system,” according to a new report from the International Renewable Energy Agency. In a foreword to the report, IRENA Director-General Francesco La Camera said it had “become clear
Oil Price Saudi Arabia’s national oil company Saudi Aramco has launched a $1.5 billion Sustainability Fund that will invest in technology supporting a “stable and inclusive” energy transition, making this among the largest-ever sustainability-focused venture capital funds in the world. “Managed by Aramco Ventures, the fund is an extension of the Company’s efforts to meet the world’s growing energy demand, with lower greenhouse
Nasdaq Hydrogen power has been on the market for decades but has never really been able to break the glass ceiling of mass-market appeal, mainly due to a host of technical and cost issues. But some experts now believe that the hydrogen economy is ready for take-off, with Goldman Sachs predicting hydrogen generation could eventually grow into a $1 trillion per
CNBC Plans to build a major hydrogen plant in the Netherlands will go ahead following a final investment decision by subsidiaries of oil and gas giant Shell. In an announcement Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. According to Shell, the 200 megawatt electrolyzer will be located
