New Industry Minister: Japan will keep nuclear but boost renewables as part of its energy mix
Japan will continue to restart nuclear power plants safely and use as much renewable electricity as possible, said Industry Minister Yojimuto on Wednesday. This indicates that the policy of newly appointed Prime Minister ShigeruIshiba is not likely to change significantly. Ishiba had promised to eliminate nuclear power before he was elected leader of the Liberal Democratic Party. He was sworn into office on Tuesday. He was the sole candidate who opposed nuclear power in Japan.
Coronavirus Spurs Oil Majors to Cancel IP Week Events
The list of parties at London's International Petroleum Week, one of the world's biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan's SOCAR cancel events due to the coronavirus, trading sources said. IP Week is a key oil traders' gathering that takes place every year in February. This year, it is scheduled for Feb. 24-27. Oil majors, national oil companies and trading firms host receptions for networking throughout the week.
Green Shipping Fuels of the Future
Ammonia and hydrogen are promising potential fuels of the future in a de-carbonized shipping industry, which has to switch to alternative, zero carbon fuels in order to meet the targets set out in the initial International Maritime Organization (IMO) strategy on reduction of GHG emissions from ships, an IMO symposium on sulfur 2020 and alternative fuels heard on Friday (18 October).Setting the scene…
One year On, OPEC Closer to Target Production Cuts
OPEC is closing in on its goal of reducing oil inventories held by industrialised nations to their five-year average, the original target of a supply-cutting pact with Russia and others, figures from the group's head of research showed on Tuesday. Oil stocks in developed OECD economies, which were 340 million barrels above the five-year average in January 2017, were just 74 million barrels above that level last month, Ayed Al Qahtani, OPEC's head of research, told a conference.
Plan to Support Coal, Nuclear Divides U.S. Energy Industry
U.S. industries that rarely agree - gas drillers and renewable energy producers - urged a federal agency on Monday to dump a government directive to prop up ageing nuclear and coal plants, saying the electricity grid was already reliable. The split in the energy industry showed that a Trump administration push to make the country energy "dominant" by boosting output from every part of the sector may face hurdles.
Perry's Proposed Grid Rule Scrambles Energy Alliances
U.S. Energy Secretary Rick Perry's attempt to save the coal and nuclear industries by proposing a new grid resiliency rule is making for some odd bedfellows across the energy sector. The proposed grid resiliency rule threatens to turn two of the Trump administration's most loyal groups of supporters against one another, as the gas and coal industries square off for a fight over market share. The White…
Japan Fires Up Biomass Energy as Fuel Shortage Looms
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, offering 12.4 gigawatts (GW) of capacity -- equal to 12 nuclear power stations and nearly double Japan's 2030 target for biomass in its basic energy policy. The sheer number of projects has raised questions about how they will all find sufficient fuel…
All Drill, No Frack: US Shale Leaves Thousands of Wells Unfinished
U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the country – a sign that output may not rise as swiftly as drilling activity would indicate. Rising U.S. shale output has rattled OPEC's most influential exporter Saudi Arabia and pushed oil prices to a near four-month low on Wednesday. U.S. production gains are frustrating Saudi-led attempts by the world's top oil exporters to cut supply…
Morgan Stanley Focuses on Smaller, Smarter Trades
Nancy King, global head of commodities trading at Morgan Stanley, has spent the last few years remodeling what used to be one of the most profitable units on Wall Street, by downsizing and focusing on smaller, smart trades for customers instead of the big, risky bets it used to make on its own account. The shift in strategy, which has cut the size of Morgan Stanley's commodities business by roughly two thirds…
ExxonMobil, Princeton Launch Energy Research Projects
In association with their partnership focused on energy technologies, ExxonMobil and Princeton University have selected five research projects that center on solar and battery technologies, plasma physics, Arctic sea-ice modeling, and the impact of carbon dioxide absorption on the world’s oceans. In June 2015 ExxonMobil committed $5 million over five years to the Princeton E-ffiliates Partnership,…
ExxonMobil Invests $15 Mln in Austin Energy Institute
ExxonMobil announced that it will invest $15 million as a leadership member of the University of Texas at Austin Energy Institute to pursue technologies to help meet growing energy demand while reducing environmental impacts and the risk of climate change. The joint research initiative will study transformational energy innovations including integrating renewable energy sources into the current supply…
Finalists of Wind Propulsion Innovations Awards
The International Windship Association (IWSA) has announced the shortlist, selected by shipping industry experts, for the inaugural Wind Propulsion Innovation Awards 2016 and voting is now open to everyone to select the winners in three categories – Innovation, Technology User and Research. The Lifetime Achievement Award is a closed vote for IWSA members. The Awards will be presented at a ceremony at the SMM2016 on 8th September 2016 in Hamburg.
Clinton's Pledge to Curtail Fracking Falls on Deaf Ears
Hillary Clinton's vow to regulate oil and gas fracking almost out of existence was met with skepticism Monday, failing to convince either industry or environment groups that she would - or could - end the controversial drilling practice if she becomes president. The front-runner for the Democratic party nomination used a debate in Flint, Michigan on Sunday night to oppose fracking anywhere local communities were against it…
School Students Win Offshore Challenge Prize at UH
Today, a team of eight students from West Side High School in Houston emerged victorious from the first annual High School Offshore and Technology Stars Challenge, which was co-hosted by the Bureau of Safety and Environmental Enforcement (BSEE) and the Ocean Energy Safety Institute (OESI) at the University of Houston. Other participating schools include Energy Institute High School, Charles H. Milby High School and Young Women’s Preparatory Academy.
Iqarus Acquires C-CHEC at Subsea Expo
Offshore and onshore health and medical solutions company Iqarus is set to acquire occupational hygiene consultancy C-CHEC to deliver a new integrated offering to global industries. Dougie Collin, currently Director of Occupational Hygiene for C-CHEC, will head up Iqarus’ Environmental Sciences Division and will bring his team and over 30 years of experience to expand Iqarus’ capability as an international player in providing healthcare solutions in remote and difficult environments.
U.S. Nuclear Operators Look to Save Plants
The U.S. nuclear industry has made a last-minute push to urge the Obama administration to protect the country's 100 nuclear units in its forthcoming carbon rule and prevent the early retirement of several plants. Representatives of the Nuclear Energy Institute met on July 21 with White House officials who are currently reviewing the final version of the Environmental Protection Agency's Clean Power Plan.
Dozens of U.S. Companies Bet on Nuclear Power Revolution
The Pentagon's top arms provider and firms partly funded by Silicon Valley billionaires Bill Gates and Paul Allen are among dozens of companies collectively betting more than $1.3 billion that a new wave of nuclear power can be a force to fight climate change. Advanced nuclear power plants, which will employ techniques such as using fuels other than uranium and coolants other than water, have attracted private investments from more than 40 companies from Florida to Washington state…
Energy Institute to Adopt Experience of Energy Firms
Sochi hosted today the 14th meeting of the International Supervisory Board (ISB) of the Energy Delta Institute (EDI) as well as an international meeting of the Institute’s partners under the topic of ‘Future of the European Power Industry’. Taking part in the meetings were Sergey Khomyakov, Deputy Chairman of the Gazprom Management Committee, Han Fennema, CEO and Chairman of the Executive Board of Nederlandse Gasunie…
AMS Wins Energy Technology Competition Grant
Autonomous Marine Systems Inc. (AMS), a marine data collection, monitoring and transmission solutions provider, recently won first prize in the oil and gas track of the Longhorn Energy Club’s Energy Technology Competition, the company announced. The competition is held in conjunction with the University of Texas Energy Week conference hosted by the Energy Institute and student-run Longhorn Energy Club…
‘Business as Unusual’ for Oil in the Medium Term
The recent crash in oil prices will cause the oil market to rebalance in ways that challenge traditional thinking about the responsiveness of supply and demand, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR). The U.S. light, tight oil (LTO) revolution has made non-OPEC production more responsive to price swings than during previous market selloffs, the report said, adding that this would likely set the stage for a relatively swift recovery.
