Reaping Wind at Sea: A $1 Trillion Industry
Offshore wind could become a cornerstone of the world's power supply as steep cost reductions and improved technology unleash the potential of the green energy source, said the International Energy Agency (IEA) on Friday.Renewables replacing fossil fuel is crucial to meet a globally-agreed goal of limiting temperature…
Why Canada is the Next Frontier for Shale Oil
The revolution in U.S. shale oil has battered Canada's energy industry in recent years, ending two decades of rapid expansion and job creation in the nation's vast oil sands. Now Canada is looking to its own shale fields to repair the economic damage. Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations…
U.S. Shale Greater Threat to OPEC After Oil Price War
In a corner of the prolific Bakken shale play in North Dakota, oil companies can now pump crude at a price almost as low as that enjoyed by OPEC giants Iran and Iraq. Until a few years ago it was unprofitable to produce oil from shale in the United States. But the steep slide in costs has U.S. shale operators…
Big Oil Revels in Trump Triumph
The U.S. energy industry on Wednesday reveled in Republican Donald Trump's presidential victory, expecting him to be a strong advocate for more oil and gas output and to cut red tape that has held back billions of dollars of investment in new projects. The world's largest energy market saw a boom in oil and gas output under Democratic President Barack Obama's administration…
Maersk, Qatargas Ink LNG Propulsion Deal
The world’s largest LNG exporter Qatargas has signed a technical collaboration agreement with the Maersk Group to explore opportunities related to the use of LNG marine propulsion. It is estimated that the use of LNG propulsion can lead to a potential reduction in CO2 emissions of 25% compared to the use of conventional shipping fuels.
Sheltered from Biggest Risks, Green Fuel to Ride Out Oil Crash
Green power is cheap enough to compete with fossil fuels and will buck the trend of falling investment in oil and gas as it can offer long-term returns sheltered from political risk, investors and industry analysts say. Oil prices have dropped by around 75 percent since mid-2014, leading the International Energy…
Solar Energy Depends on U.S. Funding Shift
The United States must redirect spending from wasteful solar power tax credits and prepare the electricity grid for large-scale solar energy use if the industry is to play a significant role in lowering carbon emissions, a report led by MIT researchers said on Tuesday. Current tax incentives aimed at encouraging…
Solar Power is Shaking up Global Energy
One by one, Japan is turning off the lights at the giant oil-fired power plants that propelled it to the ranks of the world's top industrialised nations. With nuclear power in the doldrums after the Fukushima disaster, it's solar energy that is becoming the alternative. Solar power is set to become profitable in Japan as early as this quarter…
Caterpillar to Stay in Peoria
After a multiyear study focused on modernizing its global headquarters, Caterpillar Inc. today reaffirmed it will remain in Peoria, Illinois, and revealed a design that will eventually span 31 acres on the city’s riverfront. A three-tower building located in the heart of a six-block campus, which includes innovative…
Will the Saudis Drive U.S. Shale Out of Business?
There has always been a close link between U.S. oil production, international prices and OPEC, so it should come as no surprise that North America's shale drillers find themselves locked in a battle with Saudi Arabia over prices and market share. Until the 1950s, the United States accounted for more than half of all global oil production.
Mitcham Industries Announces Acquisition
Mitcham Industries, Inc. has announced that its wholly-owned subsidiary, Seamap Pte Ltd., ("Seamap"), which designs, manufactures and sells specialized marine seismic equipment, has acquired the marine energy source product lines from ION Geophysical Corporation. The product lines acquired are the Digishot energy source controller and the Sleeve Gun energy source…
