Solar boost has seen renewables reach almost 50% of global capacity by 2025.
Data from the International Renewable Energy Agency, which was shared with us exclusively on Tuesday, showed that renewable power accounted for almost half of 'world's electric capacity in 2013. This is due to a record-breaking increase in solar installations. Some industry leaders have called for increased investment in fossil fuels as the Middle East conflict has resulted in record monthly gains. However…
Expana raises EU sunflower production forecast amid rising energy costs
Expana maintained its forecast of European Union 'rapeseed production in 2026 as?20.8 millions metric tons but increased?its forecast on?sunflower, as farmers turn to the less energy and fertiliser consuming crop amid rising prices. In a report published monthly, the consultancy increased its forecast of EU sunflower seed production for 2026/27 from 9.9 million metric tones in February. In the case of soybeans, it reduced its estimate from 3.2 to 3.1 millions tons.
India's kitchens are forced to stop cooking hot food because of a shortage of cooking gas
As a result of the Middle East conflict, cooking gas is in short supply across the country. To make LPG (liquefied Petroleum Gas) last longer, cooks are switching to simpler meals that require less fuel. As a result of Iran's war on terror, shipping through the Strait of Hormuz has been effectively halted. This has led to an increase in energy and transportation costs. It also affects the output of oil and gas producers in the Middle East.
Sponsored: Policy, AI, and Capital Take Center Stage at ADIPEC 2025
ADIPEC 2025 kicks off in Abu Dhabi with a powerful message from Dr. Sultan Al Jaber for a balanced and inclusive approach to meeting energy demand, built on reinforcement, not replacement. Opening addresses and high-level sessions featuring CEOs and ministers spotlighted the importance of embracing all energy sources, all technologies, and all systems that enhance energy resilience and provide the world with prosperity for all.
Exxon exceeds Wall Street profit estimates, thanks to Guyana and Permian oil production
Exxon Mobil beat Wall Street's first-quarter profit estimate on Friday as higher oil and natural gas production in Guyana and Permian Basin helped boost earnings. According to data compiled and analyzed by LSEG, the profit for the quarter January-March was $7.71billion or $1.76 a share. This beat analyst expectations of $1.73 a share. Exxon and the energy sector as a whole have had a turbulent start to the new year, after U.S.
Exxon exceeds Wall Street profit estimates, thanks to Guyana and Permian oil production
Exxon Mobil beat Wall Street's first-quarter profit estimate on Friday as higher oil and natural gas production in Guyana and Permian Basin helped boost earnings. According to data compiled and analyzed by LSEG, the profit for the quarter January-March was $7.71billion or $1.76 a share. This beat analyst expectations of $1.73 a share. Exxon and the energy sector as a whole have had a turbulent start to the new year, after U.S.
CERAWEEK - Small nuclear power struggles on the cusp of US electric demand boom
Small modular nuclear reactors are touted by everyone from the U.S. Energy Secretary to Big Tech as the answer to the booming demand for power. However, the technology has struggled to reach commercialization due to cost and regulatory obstacles. The artificial intelligence industry, which is powered by energy-hungry data centres, will likely increase electricity consumption in the United States. Small modular reactors supporters say that the technology would eventually be cheaper…
The cold weather in the US boosts diesel prices, but masks economic challenges
Since the beginning of the year, the cold temperatures in the Northeast U.S. have led to an increase in demand for heating oil. This has helped to offset the slowdown in recent years due to reduced industrial activity. The Energy Information Administration (EIA), according to its data, reported that the U.S. inventory of distillate fuels - including diesel and heating oil - fell this month to its lowest seasonal level in 2014. The sharp increase in heating oil consumption is reflected by the decline.
EU Unveils $220B Escape Route from Russian Fossil Fuels by 2027
The European Commission on Wednesday unveiled a 210 billion euro [about $220 billion] plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy.The invasion of Ukraine by Russia, Europe's top gas supplier, has prompted the European Union to rethink its energy policies amid sharpened concerns of supply shocks. Russia supplies 40% of the bloc's gas and 27% of its imported oil…
COP 25: The Affordable Energy Transition
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, the future energy system is not only affordable, it is cheaper than the energy system we have today. And this creates an opportunity to invest more to achieve the future we want.Let me be more precise: in just one generation…
"Green" Ammonia's Future as a Marine Fuel
Ammonia, the same pungent solution used in fertilizers and cleaning agents, may one day be the key to transporting renewable energy around the world. There are currently a number of government and corporate projects assessing the feasibility of converting excess renewable energy from sources like wind, solar, tidal and nuclear into ammonia and then back into usable energy.In its purist form, ammonia or NH3…
2/3 of Electricity by Solar PV, Wind by 2050
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. By midcentury, 40% of final energy demand will be met by electricity (up from 19% in 2017), 63% of which will be generated by solar PV and wind, said the…
DAVOS: Oil Majors Huddle in DAVOS to Mull Future
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions was worrying for those present - pressure is rising and the industry is losing a battle not to be seen as one of the world's biggest evils.The answer? Lure investors…
MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL
The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa (MENA) region will remain the main global supplier of oil and gas for decades to come."Among its forecasts for 10 global regions…
EU Lawmakers Set Energy Efficiency, Renewables Targets
European Union lawmakers on Tuesday targeted energy savings of 32.5 percent and a renewable energy uplift of 32 percent by 2030, in a push to meet the bloc's pledge under the Paris climate accord to curb global warming.National governments now have until the end of the year to draft their own plans for implementing the bloc's overall climate goal of lowering greenhouse gas emissions by at least 40 percent from 1990 levels by 2030…
Yaskawa Ups Investment in The Switch
Yaskawa Corporation is making a multimillion-euro investment to strengthen the R&D capabilities of The Switch and purchase new equipment at the company’s factory in Lappeenranta, Finland.The investment will enable drive train testing of up to 15 MW. The Switch will now become Yaskawa European’s Environmental Energy Division, leading the Japanese company’s global business in the marine, wind and turbo/industry…
Ampelmann Debuts S-type Walk-to-Work System
Dutch company Ampelmann says it has designed its latest motion compensation access system, the S-type, as a cost effective and safe option in the transportation of workers and luggage to and from offshore platforms. The company, a provider of offshore access systems to the energy industry, is launching the new Walk-to-Work system as an alternative to using helicopters or baskets. In total, the cost of using the system will be around 30 perceent cheaper than helicopters, the manufacturer said.
Innovative Cruise Ship Hosts LNG Conference
As part of the international trade conference "Making LNG Happen: Combining Forces for Sustainable Shipping," 80 representatives from the fields of business, politics and science visited the cruise ship AIDAprima in Rotterdam on Thursday, January 26, 2017. The guests included Dirk Brengelmann, Ambassador of the Federal Republic of Germany in the Netherlands and his Norwegian colleague Martin Sørby. Hosting the event onboard AIDAprima was symbolic and significant…
The Switch set to boost marine growth
The Switch is targeting growth of 200% within the marine segment in the next five years, building on the momentum of a flurry of recent orders, its acquisition of Wartsila Drives, and the financial muscle of its parent company, the EUR 3.3 billion turnover Yaskawa Electric Corporation. The Finnish headquartered business, a specialist in the development and supply of advanced drive train solutions, believes…
Energy Efficiency Gains Ground Despite Lower Energy Prices -IEA
As governments focus on implementing their commitments to save energy and reduce carbon emissions under the recently ratified Paris agreement, a new report from the International Energy Agency (IEA) highlights the progress made by energy efficiency policies around the world over the past year, particularly in China and other emerging economies. The role of energy efficiency in the global energy transition is examined in the IEA’s Energy Efficiency Market Report2016…