The impact of coronavirus on global renewables markets could make 2020 the first “down year” for solar power capacity addition since the 1980s. This according to BloombergNEF, which has revised down its February global solar photovoltaic demand outlook for the year from between 121 gigawatts (GW) and 152GW to between …
Read More »Saudi Arabia is Starting a Reckless Oil War with Russia, the US Is also a Target
In a reckless move characteristic of his leadership, Saudi Crown Prince Mohammad Bin Salman, known as MBS, spurred an oil crisis this week that cratered financial markets and could devastate American oil producers. After Saudi Arabia indicated it will massively ramp up oil production, oil prices experienced their biggest one …
Read More »US Oil Companies to Slash Spending Amid Saudi-Russian Trade War
American oil producers are slashing their budgets for new operations for the rest of this year, which means far fewer new rigs, a painful downturn for dozens of oil-field services companies and the certainty of layoffs, from Texas to North Dakota. Worldwide, the coronavirus pandemic has kneecapped the petroleum business, …
Read More »Saudi Arabia Keeps Pummeling Russia; Sells Oil at $20
Russia refuses to open negotiations with Saudi Arabia, which is flooding world markets with cheap oil in a brazen attempt to punish Russia for rejecting substantial oil production cuts that would have steadied sinking oil prices. Saudi Arabia has made huge cuts to its official selling prices for oil. Arab …
Read More »Libya’s National Oil Company Calls for Reopening Oil Fields, Ports
Libya’s National Oil Corporation (NOC) on Friday called for reopening the country’s oil fields and ports, closed in January by tribal leaders in protest against the UN-backed government. “We call on those responsible for the closure to immediately lift the blockade and spare oil sector workers and citizens further suffering,” …
Read More »A Novel Biofuel System for Hydrogen Production from Biomass
A research team, led by Professor Jungki Ryu of the School of Energy and Chemical Engineering at Ulsan National Institute of Science and Technology in South Korea, presented a new biofuel system that uses lignin found in biomass for the production of hydrogen. The system decomposes lignin with a molybdenum …
Read More »Brazil Welcomes Its ‘Largest Solar Plant’ with £143.5m Investment
Atlas Renewable Energy has signed a deal with Anglo American to build the ‘largest solar plant’ in Brazil with a R$881 million (£143.5m) investment. The Atlas Casablanca solar plant will have an installed capacity of 330MW, with more than 800,000 panels allowing it to produce enough energy to supply a …
Read More »Total Launches Battery-Based Energy Storage Project in France
Global energy player Total will build a battery-based energy storage project in France’s Dunkirk port district. The battery project will be built with an investment of nearly €15m and will have 25MWh storage capacity and 25MW power output. Total chairman and CEO Patrick Pouyanné said: “This project is part of …
Read More »Saudis Pledge Huge Oil Supply Increases to European Refiners
Saudi Arabia is unleashing a wave of crude toward Europe, traditionally the backyard for Russian oil sales, pledging to supply regional refineries with as much as triple their usual intake from the kingdom. The Saudi shipments, coupled with unprecedented discounts, are turning the European oil market into the most bitterly …
Read More »Putin not Planning any Contacts with OPEC+ Partners Yet
Russian President Vladimir Putin is not planning any contacts with OPEC+ partners for the time being, but they can be quickly arranged if necessary, Kremlin spokesman Dmitry Peskov told reporters on Thursday. “So far no contacts have been planned. However, if necessary, they will be immediately arranged,” he said. Commenting …
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