Spanish multi-energy group Repsol SA has wrapped up construction of the 637-MW Frye Solar plant in the US state of Texas, it said on Thursday, hailing it as the largest solar photovoltaic project it has built to date. Frye Solar is equipped with close to one million solar panels installed …
Read More »OPEC+ Rules in an Increasingly Tight Oil Market
The OPEC+ group is firmly back in control of the oil market and has the power to have it extremely tight in the second half of the year should it choose to do so, industry executives and hedge fund managers say. The market is growing increasingly bullish on oil, expecting …
Read More »The AI Revolution has a Problem: Energy
Artificial intelligence is helping the oil and gas industry boost output by accelerating drilling and boosting efficiency. It offers similar gains to other industries as well and online platforms and websites with AI-powered chatbots are multiplying fast. But there is a problem. AI consumes massive amounts of electricity. A New …
Read More »Russia’s Crude is Trading at $15 above the Price Cap
The World’s Coal Capacity Hit an all-Time High in 2023
Global coal power capacity hit a record last year driven by China, which built the most new capacity, but also helped by a slowdown in coal power plant retirements across the world. This is according to data from Global Energy Monitor, a transition outlet that tracks energy trends. The data …
Read More »U.S. Power Plant Proposals Surge by 90% as Electricity Demand Rises
Proposals for new power generation capacity in the United States have increased by an impressive 90% over the last three years, Bloomberg has reported, in anticipation of a surge in demand for electricity. Notably, some 80% of the proposed capacity is solar plus batteries, with only 3% of proposed power …
Read More »Shell Considers Leaving London Stock Exchange
Shell’s chief executive has floated the possibility of the petrogiant abandoning its “undervalued” London listing. Wael Sawan, who runs the largest company on the FTSE 100, said the embattled London exchange was an “undervalued location” as he joined a raft of global CEOs in complaining about the capital’s equity markets. …
Read More »EU Climate Goals Require $2.7 Trillion in Energy Infrastructure Investment
European energy infrastructure needs $2.7 trillion in investment to reach the EU’s climate goals by 2050 and keep Europe competitive on a global scale, lobby group the European Round Table for Industry (ERT) said in a new report on Tuesday. The EU’s ambition to be a carbon-neutral bloc by 2050 …
Read More »New Zealand Considers ICE Car Import Ban by 2040
The New Zealand government has plans to ban the import of internal combustion engine vehicles by 2040 as part of its net-zero efforts. According to local publication Stuff, a draft document prepared by the country’s Climate Change Commission suggests that “Decarbonising transport will require a rapid increase in electric vehicle …
Read More »Low Natural Gas Prices Curb U.S. Oil Production Gains
U.S. oil producers are not in a rush to significantly boost production despite oil prices hovering at a six-month high, as multi-year low natural gas prices are holding back drilling in parts of the Permian and costs have increased, analysts and industry executives tell Reuters. Last week, WTI crude prices …
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