The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors…
France's new Energy Law slashes Renewable Targets, Eases Pressure on EDF
After years of debate, France has finally passed a new law on energy that reduces its "wind and solar" targets and removes the mandate for EDF (the state-owned firm) to shut down nuclear plants. We need to stop the internal family fighting. "We need both renewables and nuclear," said Roland Lescure, finance minister. After almost three years, the law will be passed by decree after bitter debate among legislators.
France Slashes Renewable Energy Targets in New Law
France set out a new energy law after years of wrangling on Thursday which slashes its wind and solar power targets and drops a mandate for state-run firm EDF to shutter nuclear plants."We need to stop our internal family squabbling. We need both nuclear and renewables," finance minister Roland Lescure told reporters.The law, to be pushed…
Canada and Australia LNG cargoes headed to the Atlantic after Arctic storm in a rare move
Ship tracking data revealed that at least three LNG cargoes, loaded in Australia and Canada, are headed to Europe and the Americas, instead of Asia, their usual destination. This is because an Arctic storm has curtailed?exports out of the U.S. The diverting of "supply" away from Asia could lead to a tightening in supply and support the spot LNG price in that region.
Shell In Advanced Discussions to Buy LLOG Exploration for Over $3B
Shell is in advanced discussions to buy LLOG Exploration offshore in a deal valued at more than $3 billion. This would increase the oil major's portfolio of upstream oil and gas producers by acquiring one of the biggest privately owned oil and natural gas producers in the U.S. Gulf. Sources said that the parties were in advanced talks, and that an agreement was close.
Turkey Cuts Russian Urals Oil Imports, Turns to Kazakh, Iraqi Supply
Turkey sharply reduced its imports of Russia's flagship Urals crude oil in November, shipping data from energy consultancy Kpler showed, as Western sanctions on Russian energy suppliers tightened and Turkish refineries shifted to alternative grades.Shipments of Urals to Turkey fell by 100,000 barrels per day from October levels, with total imports dropping to around 200…
China adopts its first standards for renewable steel, cement, and polysilicon
According to a notice published by the National Development and Reform Commission on Friday, China has set for the first-time renewable energy mandates in the steel, polysilicon, and cement industries as well as some data centres. Beijing's Renewable Portfolio Standards, or RPS (Renewable Portfolio Standards), set targets for the percentage…
Shanghai's solar conference focuses on losses and pricing reform
The mood will likely be subdued when the largest solar energy conference in the world kicks off on Tuesday in Shanghai, as Chinese solar panel manufacturers grapple with the oversupply of panels and price reforms. The majority of solar farms in the world are powered by modules and cells made in China. However, the top Chinese producers…
Transmission operator: Ukraine imports more gas
The operator of the national gas transmission system reported that Ukraine increased its gas imports to approximately 15.5 million cubic meters (mcms) per day over the weekend and Monday, compared with 14.5 mcms per day the previous week. After Russian missiles damaged the production facilities to the east of Ukraine, Ukraine was forced…
Oil below $60 puts US producers in a tough position regarding growth and capital returns
Analysts have warned that a drop in oil prices to below $60 per barrel as a result of an intensifying trade war could cause anxiety throughout the U.S. Oil Patch, forcing companies to take additional measures, including reducing share buybacks or capital expenditures. Brent crude and West Texas Intermediate futures (WTI) fell to their lowest levels since February 2021 as tariffs introduced by U.S.
Spot prices drop on rising renewable supply
The French spot electricity price for Thursday dropped on Wednesday, as the renewable energy supply was expected to increase and demand to fall in most countries of central Western Europe. French baseload electricity for Thursday fell 10.6% to 81.35 Euros ($89.66 per megawatt-hour (MWh) at 0836 GMT. The French equivalent contract was 36.5% cheaper at 26.25 Euros/MWh.
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S.
Japan has a plan to make green steel work.
The energy transition is a major challenge, and one of them is decarbonising steel production. This is especially true when consumers around the world are unwilling to pay more money for greener steel products. In order to achieve this, government policies and regulations will likely be used to set prices in a sector that is responsible for 8% of the global carbon emissions.
Japan has a plan to make green steel work.
The energy transition is a major challenge, and one of them is decarbonising steel production. This is especially true when consumers around the world are unwilling to pay a premium for greener steel products. In order to achieve this, government policies and regulations will likely be used to set prices in a sector that is responsible for 8% of the global carbon emissions.
Oil industry unlikely rush to Alaska despite Trump’s call for drilling
U.S. companies will not expand their development in Alaska or the Arctic after President Donald Trump signed an executive order that allows them to do so. Industry representatives and company officials said this, pointing out that a future president would be able to reverse Trump's decision. U.S. Oil Production is Already at Record Levels.
Sources say that Chinese exporters will increase prices and renegotiate after the tax rebates are cut.
Analysts and traders said that Chinese exporters will increase prices on a variety of products, from used cooking oil to aluminium, and renegotiate their contracts to pass the cost of Beijing’s tax incentives. On Friday, the world's second-largest economy announced that it would reduce its export tax rebate rates for certain refined oil products, solar panels, batteries, and non-metallic minerals from 13% down to 9%.
Chugoku's nuclear reactor restart plan shows Japan's commitment to the sector
Chugoku Electric Power Company, Japan, said Tuesday that it plans to restart the 820 megawatt (MW), No.2 nuclear reactor at Shimane Nuclear Power Plant in December and resume its commercial operations in January. The restart shows that Japan is committed to bringing more nuclear power plants back into operation. Shigeru Shiba, the new prime minister, has changed his initial opposition due to energy security concerns.
Rural towns in New Mexico's arid region are looking to treated oil wastewater for a drought solution.
Stephen Aldridge, a pilot of a four-seater helicopter, could see a dozen lagoons filled with toxic waste glistening in the distance between drill rigs. The mayor of Jal, a tiny town nestled in the middle of U.S. Oil Country near the Texas border, saw the scene as a chance to find water for the state that is suffering from a worsening drought.
UK energy prices rise 10% due to extreme weather and geopolitics
The British energy regulator Ofgem raised the price cap for household energy bills on Friday by 10%, from October 1, to a level of 2,250.64 pounds per year. This increase was blamed on extreme weather conditions and conflicts like the war in Ukraine. Brearley stated that the increase in price cap will be difficult for many families. The…
Energy @ Sea: Powering Up in the Blue Desert
Last year marked the beginning of the United Nations Decade of Ocean Science for Sustainable Development, lasting from 2021 until 2030. With 10 years comes 10 challenges—goals for regional, national and global participants to work towards for positive, collective impact on our oceans. Included in the 10 are ocean-based solutions for climate change…