Tuesday, November 5, 2024

Energy Resources News

Italy's Lombardy will award two hydroelectric plant contracts by 2025

The local administration announced on Wednesday that the northern Italian region of Lombardy would award concessions to two small hydroelectric plants within its territory before the end of the next year. According to the region, the auction has attracted mostly Italian bidders. This could allow newcomers access to the capital-intensive industry.

NextEra's performance in the third quarter beats estimates due to its renewables strength

NextEra Energy beat Wall Street's expectations for its third quarter profit on Wednesday. This was due to the strength of its renewables division. The forecasts for this year are brighter than ever, thanks to the growing demand for electricity from homes and businesses, as well as AI-backed data centres…

Turkey plans to quadruple its wind and solar power capacity by 2035

Alparslan Bayraktar, the Energy Minister of Turkey, said that $108 billion in public and private investments will be needed to quadruple Turkey's wind and solar power generation capacity to 120,000MW by 2035.Bayraktar, speaking at a conference to announce Turkey's roadmap on renewable energy resources…

US approves major geothermal projects on public land and seeks to support others

The Biden Administration announced on Thursday measures to expand geothermal power on U.S. Public Lands, including the approval of a large project located in Utah and steps to accelerate permits for discovering new resources. These moves align with the goal of President Joe Biden…

What we can learn from China's latest military exercises around Taiwan

China's day of wargames around democratically-governed Taiwan was Monday a warning against'separatist actions. Although they appeared shorter, the drills were intense and fast-paced in their simulation of attacks and deployments of ships and aircraft. The last major war games were held in May…

METI official: Japan could increase LNG purchases for emergency reserves to almost 1 million T per year.

An official from the industry ministry stated that Japan may increase its purchases of LNG for emergency purposes to at least twelve cargoes per year, up from the current three, in order to protect against supply shocks. The plan to boost reserves involves the second largest LNG buyer in the world, China.

Putin praises cooperation with OPEC+ and BRICS

Vladimir Putin, the Russian president, said that on Thursday his vast energy sector would be able achieve its goals as well as overcome "illegal", western sanctions. He also praised ties with BRICS groups and OPEC+. The Russian oil and natural gas industry accounts for about a third (or more) of the total budget revenue.

European and Southern African Development Banks to lend an extra $220 million to clean energy projects

The European Investment Bank and Development Bank of Southern Africa announced on Wednesday that, together, they will lend an additional 200 millions euros ($220.16million) to renewable energy project in South Africa. The EIB and DBSA have pledged 400 million euros at the COP27 Climate…

Texas gas plant rejected from state funding program

Texas energy regulators denied funding requests for an electric power plant project, despite the fact that it was named as a finalist in a state program to build out natural gas-fired generation of electricity. The Public Utility Commission of Texas rejected late Wednesday the application…

Four states join forces to build an interconnector for Azeri windfarms

Azerbaijan formed a joint-venture company with Georgia, Romania, and Hungary on Tuesday. The aim is to build an interconnector undersea across the Black Sea to connect planned Azeri Windfarms with Europe. Green Energy Corridor Power Company, based in Bucharest, Romanian capital will oversee the construction of a 1…

Autry Stephens, Texas Oil Billionaire, Dies at the age of 86

Autry Stephens died at the age of 86 after a long battle with cancer, Endeavor Energy Resources announced on Friday.He was known for his relentless work ethic and frugal attitude. He continued to work even while under medical treatment and relying on friends to fly in a private plane…

Protecting Offshore Energy Sources via USV

Photo courtesy Mr. Dave Meron

When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some favor the former while others advocate for the latter. However, what is often lost in the arguments on both sides is that regardless of the type of energy being extracted or generated…

Thinking Holistically about Hydrogen’s Place in the Energy Transition

©Shawn Hempel/AdobeStock

As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need for a wide-lens view of the situation is clear. This includes knowing the capabilities and pitfalls of renewable energy sources at our fingertips, hydrogen being one that is especially prevalent.Kees van Wingerden…

Thinking Holistically About Hydrogen’s Place in the Energy Transition

© magann / Adobe Stock

As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need for a wide-lens view of the situation is clear. This includes knowing the capabilities and pitfalls of renewable energy sources at our fingertips, hydrogen being one that is especially prevalent.Kees van Wingerden…

MethanQuest: Test Results In for Renewable Hydrogen, Methane as a Fuel

Microgrid Concept for Inland Port: In the MethanGrid research group DVGW, Rolls-Royce Power Systems and other partners have developed a complete locally coupled energy supply system for the Karlsruhe inland port facility. Electricity, gas, heating, industry and transport - all the current sectors - are coupled by means of this microgrid so that the available energy, including renewables, can be optimally exploited. Image courtesy Rolls-Royce Power System/MethanQuest

As the maritime industry embarks on 'the path to zero', it is widely acknowledged that there is currently not a 'silver bullet' solution, nor is it likely that a solution will emerge from a vaccum. Collaboration is the path forward, and efforts such as MethanQuest offer promise.The…

Wood, NERA Team Up for AI-Powered Subsea Inspections

Image credit ipopba - AdobeStock

Oil and gas engineering firm Wood has teamed up with National Energy Resources Australia (NERA) to develop and deliver an AI Inspection tool for subsea oil and gas infrastructure.The companies say that the solution has the potential to revolutionize the way asset inspections are conducted…

Annova LNG Sign Deal with Enbridge

Houston liquefied natural gas company Annova LNG has signed a 20-year supply deal with Enbridge, a Canadian pipeline company that owns a 10.5 percent stake in Annova's proposed export terminal.The precedent agreement with Enbridge Inc.’s Valley Crossing Pipeline LLC (VCP) would provide…

KN Bags $148Mn Loan for its LNG Terminal

The Nordic Investment Bank (NIB) and Lithuanian liquefied natural gas (LNG) and oil terminal operator AB 'Klaipedos Nafta' (KN) have signed a EUR 134.1 million (USD 148 million) loan agreement to optimize costs of LNG terminal.The 25-year maturity loan will be directed to finance…

U.S. Needs to Revive Shallow-Water GoM E&P

The US should define the Gulf of Mexico Shallow Water Province as a distinct entity to avoid stranding more than $20 billion of its oil and gas resource, said a new research.According to a research from the Bureau of Safety and Environmental Enforcement (BSEE) and Bureau of Ocean Energy Management (BOEM) the GOM Shallow Water Province…

Mayflower Joins Connecticut Offshore Bids

Mayflower Wind has submitted bids to the Connecticut Department of Energy and Environmental Protection in response to Connecticut's Request for Proposals.Mayflower is a joint venture of Shell New Energies US LLC and EDPR Offshore North America LLC. It has submitted two proposals with the state…