Sunday, August 9, 2020

Energy Costs News

Indonesia Plans New Gas Pricing for Industrial Users

© anekoho / Adobe Stock

Indonesia plans to unveil a new gas pricing policy for industrial customers in March in a bid to lower energy costs for manufacturers, Energy and Mineral Resources Minister Arifin Tasrif said on Thursday.Indonesia's President…

LNG Suited for Select VLCC Routes

Image: SEA\LNG

SEA\LNG has released the results of its third investment study, which underlines liquefied natural gas (LNG) as a compelling investment solution for Very Large Crude Carriers (VLCCs) on the Arabian Gulf to China trade route.Conducted by Opsiana…

COP 25: The Affordable Energy Transition

Image: DNV GL

By Sverre Alvik, Energy transition program director, DNV GLIt is not too good to be true, it is the economic reality that lies ahead of us. The energy transition facing us in the coming decades is an affordable one. In fact…

Energean Seeks to Pipe Karish Gas to Cyprus

Stena's DrillMAX drilling Karish North, offshore Israel (Photo: Energean)

Energean Oil & Gas said on Tuesday its Energean International unit submitted an application to import and supply natural gas to Cyprus starting in 2021.In its application to Cypriot authorities, it said it sought to supply…

Renewable Power Capacity to Rise 50% in Five Years

© ZhangHuaHong / Adobe Stock

Global renewable energy capacity is set to rise by 50% in five years' time, driven by solar photovoltaic (PV) installations on homes, buildings and industry, according to the International Energy Agency (IEA).Total renewable-based power capacity will rise by 1.2 terawatts (T

Offshore Wind – A Brief History

Credit: Used with permission of Worldsfairchicago1893.com

Happy 80th birthday Maritime Reporter & Engineering News! Eighty years is a significant publishing and business accomplishment!Birthdays always cause a look back. An 80-year review starts in 1939, the close of one very challenging decade…

Study Prompts Investments in LNG as Marine Fuel

Image: SEA\LNG

A new study by the consulting group SEA/LNG reveals “a strong investment case” for LNG as a marine fuel in the container shipping market.The study was commissioned from the independent simulation and analytics company Opsiana…

Offshore Wind Ready To Take Off in US

Image: Institute for Energy Economics and Financial Analysis

Up and down the East Coast, initiatives to develop a massive and largely untapped market can make sea change in American offshore wind, says the  Institute for Energy Economics and Financial Analysis (IEEFA).IEEFA pointed…

Green Energy on the Rise in Thailand

Photo courtesy of BCPG

BCPG Public Company is looking at ways in which innovation in technology and energy management are encouraging consumers to generate reusable energy and sell it on the retail market, Bundit Sapianchai told Oxford Business Group’s online broadcasting channel, Global Platform.

Trump Rails Against Oil Prices, OPEC Pushes Back

© Igor Groshev / Adobe Stock

U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea.

Record Low Bid for 24/7 Block Mixing Wind and Solar at Chile Tender

Project Render (Photo: Verano Capital)

Verano Capital, an American project developer headquartered in Santiago, has announced that the 47 MW solar project they initially developed was selected in Chile’s latest energy tender with a winning bid at $25.38/MWh, the…

Japan Fires Up Biomass Energy as Fuel Shortage Looms

© Mikael Damkier / Adobe Stock

As the sun sets on Japan's solar energy boom, companies and investors are rushing into wood-burning biomass projects to lock in still-high government subsidies. More than 800 projects have already won government approval…

Australia Plans to Limit LNG Exports

© Carabay / Adobe Stock

Australia's conservative government unveiled a radical plan on Thursday to restrict exports of liquefied natural gas (LNG) at times when domestic shortages push up local prices, aiming to ease soaring energy costs for local manufacturers.

Chevron Boosts Permian Shale Output

File Image: A typical shale oil project (AdobeStock)

Nearly a century after Chevron Corp amassed the No. 2 stake in America's largest oilfield, Chief Executive John Watson is hitting the accelerator on developing the company's vast Permian Basin holdings. In an interview, Watson…

Tanzania raises power tariffs by 8.5%

Backbone project of 400 KV was recently completed Photo Tanzania Electric Supply Company (TANESCO)

Tanzania's energy regulator has approved a power tariff hike of 8.53 percent by the state-run utility, less than half of what the utility said it needed to stem losses. The Tanzania Electric Supply Company (TANESCO) had sought…

IEA welcomes Italy's Plan to Revisit Energy Strategy

Italy is sending strong signals about its long-term energy goals (Photo Jebulon, Wikimedia Commons) Courtesy IEA

In its latest country review of energy policies, the International Energy Agency praised Italy's comprehensive long-term energy strategy and the acceleration of its efforts to comply with 2020 goals on renewable energy, climate change and energy efficiency.

Oil Glut to ease by 2017, says IEA's Birol

The International Energy Agency (IEA) expects oil markets to reach a balance between supply and demand in 2017 as the current oil glut slowly eases, IEA chief Fatih Birol said during meetings in South Korea. The head of the…

Refiners on Track to Spend Record on US Clean Fuel Standards

Major refiners like Valero Energy Corp are on track to pay record amounts this year for credits to comply with U.S. renewable fuel rules, corporate filings show, a trend that hurts profits and has some looking to export more to avoid the cost.

German Government Agrees to Ban Fracking Indefinitely

Germany's coalition government agreed to ban fracking for shale gas indefinitely on Tuesday, after years of fractious talks over the issue, but environmental groups said the ban did not go far enough and vowed to fight the deal.

Yara Logs Strong Growth

Courtesy Yara

Yara International ASA delivered lower underlying first-quarter results compared with a year earlier. EBITDA excluding special items was down 12% driven by lower fertilizer prices and deliveries, but partly offset by positive currency effects and lower energy cost.