Carbon dioxide emissions from energy use in the European Union fell by 2.8 percent last year, thanks to reduced use of natural gas following Russia’s invasion of Ukraine, Eurostat reported on Friday. The European Union’s statistical agency said in a report that CO2 emissions from the 27 EU nations was …
Read More »China’s CNOOC Drills in Deeper Waters to Reduce Reliance on Foreign Oil
China’s drive to reduce its dependence on imported oil has led to the construction of a huge concrete facility near Zhuhai, resembling the size of Monaco, which serves as the centerpiece of its deepwater drilling efforts. The facility, operated by a unit of China National Offshore Oil Corp (CNOOC), is …
Read More »China Expected to be World’s Largest Importer of Clean Hydrogen
China is expected to be the world’s largest importer of clean hydrogen, requiring 13 million tonnes of imported hydrogen a year by 2030 due to the huge amount of clean energy required to decarbonise its different sectors, according to a report released by Deloitte on Thursday. Europe’s demand will amount …
Read More »Mitsubishi Shipbuilding Eyes to Fuel Sea Transport with Ammonia
Mitsubishi Shipbuilding Co. Ltd. has entered a deal for technical studies on technologies that would enable ammonia to be used to power vessels. The agreement with Winterthur Gas & Diesel AG (WinGD) will test the gas commonly used for fertilizers on “large, low-speed two-stroke marine engines” currently being developed by …
Read More »Goldman Sachs Looks to Open New Tokyo Desk to Trade Profitable Power Futures
Post-energy crisis hedging enthusiasm is prompting Goldman Sachs Group to launch plans for a Tokyo desk to trade Japanese power derivatives as trading volumes for Japanese power futures on the European Energy Exchange are set to soar by up to 3X. An executive with the European Energy Exchange (EEX) told …
Read More »NASA, SpaceX Launch Roll-out Solar Arrays for International Space Station
NASA has launched its 28th commercial resupply mission with SpaceX, sending 7,000 pounds of cargo to the International Space Station. A SpaceX Dragon spacecraft propelled by a Falcon 9 rocket will bring several measurement instruments, as well as two roll-out solar arrays. The International Space Station Roll Out Solar Arrays …
Read More »WoodMac: $30 Billion in UK Energy Investments at Risk Ahead of Elections
Some $30bn (£24.2bn) of investment in new UK energy projects is at risk if Labour wins the next election, a top energy consultancy has warned. Consultancy giant Wood Mackenzie believed the growing expectation of a Labour government – which has pledged to ban new North Sea oil and gas developments …
Read More »IEA: Global Energy Efficiency Investments Need to Triple by 2030
Annual investments in improving energy efficiency must triple by 2030 in order for the world to remain able to keep global warming below 1.5 degrees Celsius, the International Energy Agency (IEA) said on Wednesday. Driven by spending on buildings and strong electric vehicle sales, global energy efficiency investment reached a …
Read More »Spain on Track to Generate 50% of its Power from Renewables in 2023
Spain is on track to generate more than half of its power from renewable sources this year, the first of the top five European countries by power demand to accomplish this feat, according to Rystad Energy forecasts. Spain will reach this significant decarbonization milestone this year, with renewable-sourced generation surpassing …
Read More »How will Artificial Intelligence Fit into the Energy Sector?
Artificial intelligence is the latest buzz—geeky stuff that can improve energy efficiency, productivity, and outcomes. But it is a fledgling concept, making room for errors. And that’s why the smart move is to test a problem and simulate solutions, sharing the best outcomes industrywide. Artificial intelligence — or AI for …
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