(Oil Price) – Germany-based utility giant RWE is expanding its U.S. portfolio beyond renewables, focusing a large part of planned $19 billion investments in the United States by 2031 on gas-fired power generation. RWE – which ditched U.S. offshore wind last year after the Trump Administration signaled renewables would not be a priority and wouldn’t be supported going forward – is now betting
(World Oil) – The Texas Independent Producers & Royalty Owners Association (TIPRO) has launched a new electricity procurement initiative aimed at helping oil and gas operators manage rising power demand and costs across Texas. The TIPRO Power Texas program, developed in partnership with Arise Energy, provides member companies with access to competitive electricity sourcing options through a digital procurement platform that connects users
(Oil Price) – Hydrocarbons are set to meet about three-quarters of the expected 500% surge in power demand from data centers, as the AI boom and global economic growth push energy demand “accelerating across every dimension,” Sultan Al Jaber, ADNOC chief executive, said on Tuesday. The surge in AI use and the data centers to handle the technologies are set to
(BOE Report)– The Trump administration’s plans to cancel nearly $8 billion in Energy Department grants are illegal because contracts had already been signed and will cause consumer energy prices to skyrocket, the top Democrat on the U.S. Senate energy committee said. Earlier this month, the Energy Department canceled $7.56 billion in funding for clean energy projects that it claimed would
(Oil Price) – NRG Energy will buy a portfolio of gas-fired power generation facilities valued at $12 billion from LS Power Equity Advisors, as the Houston-based firm bets on the growing U.S. electricity demand. The deal for the portfolio of natural gas generation facilities and a commercial and industrial virtual power plant (C&I VPP) platform from LS Power will be a
(Oil Price) – In recent years, interest in developing the U.S. nuclear power capacity has grown. Under the Biden administration’s push for a green transition, more companies were encouraged to invest in clean energy. In addition, the power demand is expected to grow much more rapidly than previously thought, as the tech sector drives demand with plans to construct huge data centres. This,
