(BOE Report) – Japan’s demand for liquefied natural gas (LNG) may grow by more than 10% to some 74 million metric tons by 2040 under a government scenario where the renewable energy rollout goes slower than expected, a senior industry ministry official said. Japan’s domestic LNG demand continued to fall last year, dropping by 0.4% to 66 million tons due
(Oil Price) – President Donald Trump campaigned on the promise of “unleashing U.S. energy dominance,” but the reality is that the United States has already achieved this goal. Over the past decade, the U.S. has cemented its position as a global energy leader, excelling in production, innovation, and influence. Here’s a closer look at the evidence behind America’s energy dominance. Oil
(Oil & Gas 360) – With slightly less than a month left before his annual global night of magic, Santa received a lengthy Christmas list after this year’s COP 29 climate action conference in Azerbaijan. The group and the International Energy Agency (IEA) have cited five key areas. They look to triple renewable energy capacity while doubling energy efficiency. Another major
(Oil Price) – Spanish utility giant Iberdrola plans to double its UK investments to $31.3 billion (24 billion British pounds) by 2028, Europe’s biggest electricity company said in a statement. Iberdrola, one of the biggest utilities and renewable energy developers in Europe and the Americas, previously planned to invest $15.7 billion (12 billion pounds) in the UK between 2024 and 2028. Now
(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 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 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.
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
Yahoo Finance LONDON – BP’s new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss to slow
Oil Price Transitioning hydrogen from its current deployment – produced from hydrocarbons for local industrial use – into a global green commodity is a huge task. The few projects now reaching FID usually involve unique two-party agreements or guaranteed offtake within development consortiums. The lack of globally accepted standards, and the price risk of long-term contracts, remain major hurdles holding
U.S. News President Joe Biden’s administration on Tuesday unveiled final rules for new clean energy subsidies in an effort to make jobs and wages in green industries competitive with those in oil and gas. The guidelines for companies seeking to claim tax credits tied to job quality are aimed at delivering on Biden’s vision that fighting climate change will create
