Israel vacates 2GW of renewable energy grid connection space
Thursday, 14 September 2023
The Israeli Ministry of Energy and Infrastructure stated in a latest statement that Israel plans to incorporate an additional 2 GW of renewable energy generation into the national grid. The government of the country stated that the main reason for the suspension of grid connection of newly built renewable energy power plants is grid congestion,and
Expected tightening of global LNG supply and demand
Friday, 08 September 2023
The 2023 Energy White Paper released by the Japanese government recently pointed out that by 2025,LNG supply and demand will further tighten,and the global”LNG competition”will continue. Since the geopolitical conflict,Europe has continuously expanded its sources of natural gas imports,leading to a tightening of global LNG supply and demand.Since 2015,in order to achieve decarbonization goals,global natural
U.S. independent shale oil producers invested in output growth in the second quarter at the fastest rate in three years, a departure from the fiscal discipline that’s been the industry’s focus, according to a report from research firm Rystad Energy. Reinvestment rate surged to 72% in the second quarter, highs not seen since 2020, according
Cost-Effective Catalyst To Supercharge Green Hydrogen Production
Wednesday, 23 August 2023
· The catalyst, primarily made of cheaper cobalt, replaces costly iridium in Proton Exchange Membrane (PEM) electrolyzers. · Giner Inc. tested the catalyst under industrial conditions, noting its superior performance and durability. · This innovation supports the DOE’s Hydrogen Energy Earthshot initiative, aiming to drastically reduce green hydrogen production costs. An Argonne
Conventional Discovered Oil and Gas Volumes Falling to New Lows
Wednesday, 16 August 2023
Despite rising investments in conventional oil and gas exploration, discovered volumes are falling to new lows. That’s what Rystad Energy research shows, the company highlighted in a new release sent to Rigzone, adding that its estimates show that in the first half of 2023, explorers found 2.6 billion barrels of oil equivalent (boe), which the
Six big oil companies to dole out US$7B on exploration in 2023, 14% of total global spend
Thursday, 10 August 2023
Six major oil companies – ExxonMobil, bp, Shell, TotalEnergies, Eni, and Chevron – are poised to play a significant role in global exploration activities this year. According to industry forecasts by Rystad Energy, these major players are expected to collectively spend approximately US$7 billion on exploration in 2023, marking a notable 10% increase compared to
Oil Exploration Grows But Discovered Volumes Fall To New Lows
Friday, 04 August 2023
· Rystad: in the first half of 2023, explorers found 2.6 billion barrels of oil equivalent. · The exploration and production (E&P) industry is in a transitionary period, with many companies exercising increased caution and shifting their strategies to target more profitable and geologically better-understood regions. · In the hunt for new
Goldman Sachs Sees Oil Prices Rising On Record Demand
Wednesday, 26 July 2023
Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit. “We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an
Japan Eyes Creation of Global Gas Stockpile
Wednesday, 19 July 2023
Japan plans to propose a global stockpile for natural gas, similar to the emergency reserve in the oil sector, to help avoid future shortages and stabilize prices. The nation’s government will suggest that the International Energy Agency should create a gas stockpiling framework for member nations, according to people familiar with the details. The proposal
Shell CEO Says Slashing Oil Output Would Be ‘Dangerous and Irresponsible’
Wednesday, 12 July 2023
Reducing global oil and gas production would be “dangerous and irresponsible” as the world still desperately needs those hydrocarbons, Shell’s chief executive Wael Sawan has told the BBC. Last month, Shell unveiled its new strategy to continue investing in oil and gas production and selectively pour capital into renewable energy solutions, angering climate activists and