The use of hydrogen as an energy source has gained a lot of attention in recent years. Up to a few years ago, little was known or debated about hydrogen energy and its economic and environmental impact on society. I myself had little knowledge of the hydrogen energy market until …
Read More »Iran Commissions New Oil Terminal to Bypass Hormuz Strait for Exports
Iran has commissioned the Jask oil terminal and pipeline project along the Sea of Oman to bypass the Hormuz Strait for crude oil exports. Located near Jask port in the southern Hormozgan Province, the terminal has capacity to receive up to one million barrels per day (bpd) of light, heavy, …
Read More »U.S. Rig Count Climbs as Oil Prices Recoup Losses
The number of oil and gas rigs in the United States is up 7 this week, according to Baker Hughes, which pegged the total rig count at 491, up 240 from the same time last year. The U.S. oil rig count rose by 7 this week to 387. The number …
Read More »Bitcoin Rises as Elon Musk Supports Trend for more Renewables in Mining
Bitcoin traded above $32,000 on Thursday after Elon Musk said Tesla would likely start accepting it as payment again as more renewable energy was used to mine the cryptocurrency. Tesla had said in May that it would not accept Bitcoin as payment because of the vast amounts of electricity needed …
Read More »Germany and US Announce Deal to Allow Completion of Nord Stream 2
Germany and the United States on Wednesday announced a deal to allow the completion of Nord Stream 2 (NS2) to Europe without the imposition of further American sanctions. The agreement on Nord Stream 2, announced that Germany and the US commit to countering any future Russian attempt to use the …
Read More »Japan Targets 60% Non-Fossil Fuel Power Supply in 2030
Japan expects non-fossil fuel power supply sources to account for roughly 60 per cent of the country’s energy mix in fiscal 2030-31 (April-March) under a draft Strategic Energy Plan released on Wednesday – more than double the 24 per cent share in 2019-20. The country aims to match its 46 …
Read More »China Wants a Piece of The $30 Billion Shipping Fuel Market
China has been raising its marine fuel sales in recent years, aiming to grow its share of Asia’s large bunkering market, which is valued at more than US$30 billion and is dominated by Singapore, Bloomberg reports. Singapore, the leader of the bunkering market, sold nearly 50 million tons of marine …
Read More »US shale’s Tepid Recovery Bodes Well for OPEC+
Saudi Arabia and the other members of OPEC+ may have more room to raise production in the coming years than the market believes if Baker Hughes’ latest earnings are anything to go by. The oilfield services provider said on Wednesday its adjusted profit fell 9 percent in the second quarter …
Read More »Japan’s Hydrogen Economy to Power the Tokyo Olympic Games
When the final torch bearer lights the Olympic cauldron in the Japan National Stadium on July 23, it will mark not only the start of the Games, but a new chapter in the country’s drive towards a sustainable future. For the first time in the history of the Games, hydrogen …
Read More »U.S. and Germany Reach a Deal on Putin’s Pipeline Project
As the Russia-backed Nord Stream 2 natural-gas pipeline nears completion, likely by next month, the U.S. and Germany have struck a deal that would resolve their years-long dispute over the project, according to the Wall Street Journal. A draft proposal under consideration by Washington and Berlin, which was obtained by …
Read More »