Share of electricity in the final demand energy mix will more than double from today’s level to 40% in 2050, with two thirds of that electricity provided by solar PV and wind, said DNV GL.Electrification will transform how energy is produced and consumed…
Gas and variable renewables must work together alongside greater uptake of carbon capture and storage (CCS) to secure a rapid energy transition, according to a new forecast of the energy transition by DNV GL.According to the report '2019 Energy…
Brazil auctioned off the exploration rights to 33 minor onshore and offshore oil and gas blocks on Tuesday, in what authorities framed as a bid to boost the industry outside of the nation's core, offshore pre-salt play.At an event in downtown Rio de Janeiro…
The head of Russia's Rosnedra subsoil agency said on Tuesday that the development of the Pobeda (Victory) offshore Arctic oilfield in the Kara Sea is feasible only at oil prices of $130 to $140 per barrel, Interfax news agency reported.Rosneft…
Australian oil and gas producer Woodside is seeking to reduce its stakes in the Scarborough gas field at home and in Canada's Kitimat liquefied natural gas (LNG) project to cut its capital exposure, its chief executive told Reuters on Tuesday…
Siemens plans to list its energy unit by around September next year, the head of its gas and power division said on Tuesday.The German conglomerate said in May that it was spinning off its gas and power business, which has dragged on the German…
Drilling wells more than three miles deep in the late 1960s was something that GHK Company and partner Lone Star Producing Company believed would product massive amounts of natural gas. The two companies that began this project discovered in…
France-based Vallourec said it has been awarded a contract by Abu Dhabi National Oil Company (ADNOC) for the supply of tubing and casing, over a five year period, with a possible two-year extension, for an amount of $900 million.The award, which…
Hyundai Oilbank, South Korea’s smallest-capacity oil refiner, plans to build a new crude distillation unit (CDU) and a vacuum distillation unit (VDU) by late 2021. The company is planning to build a 200,000-bpd CDU and a 100,000-bpd VDU between the third and fourth quarter of 2021…
The Malaysian Ministry of Agriculture and Agro-based Industry is encouraging all Malaysian States to carry out aquaculture to boost the production of high-quality fishery produce to meet the rising demand, as well as to create a healthy environment…
German railway company Deutsche Bahn AG (DB) will be purchasing about 8% of the total production of the 295-MW Nordsee Ost offshore wind farm from 2024.Deutsche Bahn will continue to steadily increase its purchase of electricity from renewable energy sources in the coming years…
Floating solar photovoltaic (PV) panels are making a splash in Southeast Asia. Development of floating solar PV power plants is expected to increase 100-fold in the region over the next five to 15 years, according to energy research firm Rystad Energy…
Calgary-based fuel and lubricant business firm Parkland Fuel Corp. announced that it is acquiring all of the issued and outstanding equity interests of U.S.-based Tropic Oil Co. Inc., as well as equity interests and the assets of certain of its affiliates…
If we are going to store large volumes of carbon dioxide (CO2) in depleted oil and gas reservoirs beneath the seabed we need to be sure that, in the unlikely event of a leak, we can detect it. A research expedition, carrying a world-first experiment…
Oil prices rose more than 2% on Monday after the new Saudi energy minister, Prince Abdulaziz bin Salman, confirmed expectations that he would stick with his country's policy of limiting crude output to support prices.Prince Abdulaziz, son of…
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