DOE-backed report: U.S. data centers' power consumption could triple by 2028
According to a Department of Energy report, the U.S. power consumption for data centers could triple within three years and account for 12% of all electricity consumed in the United States. The Lawrence Berkeley National Laboratory's report is due to be released this Friday. It comes as the U.S. government and power industry are trying to figure out how the sudden increase in data center demand by Big Tech will impact electrical grids, electricity bills, and climate change. According to a Berkeley Lab report…
Galp, a Portuguese company, plans to produce biofuels by 2026
Galp Energia, a Portuguese oil refiner and producer, announced on Thursday that it expects to produce biojet fuel and biodiesel from waste at an industrial scale unit being built in its Sines refinery by 2026. Galp and Mitsui, a Japanese company, entered into a joint venture last year to invest 400 millions euros ($415million) in a plant that will produce 270,000 tons of hydrogenated vegetable oil (HVO). The green hydrogen generated by the electrolyser powered either by solar or wind energy will be used to convert waste materials such as used cooking oil into biojet fuel and renewable biodiesel.
Sinopec, a top refiner, claims that China's oil demand will peak in 2027.
Sinopec, the state-owned refinery, said that China's oil demand will peak in 2027. This is due to a decline in diesel and gasoline consumption, which has slowed down global oil markets. Sinopec stated that the peak oil demand in 2027 will not exceed 800 million metric tonnes, or 16 millions barrels of crude oil per day. Sinopec predicted peak China oil demand at 800 million tonnes around 2026-2030. The energy sector in China faces new uncertainty by 2025, with the return of President-elect…
North Dakota oil plants slow to return online after wildfires in October
The state's Industrial Commission reported on Wednesday that oil operators in North Dakota are still working to bring some of their facilities online after wildfires in October swept through counties with significant oil production. According to Justin Kringstad of the North Dakota Pipeline Authority, the outages were limited to isolated production sites such as well pads that experienced local equipment damage, or a loss in electricity due to damaged electrical lines. Mark Bohrer is the assistant director of North Dakota Department of Mineral Resources' oil and gas division.
North Dakota oil operators are still bringing back some facilities online after wildfires in October
The state's Industrial Commission reported on Wednesday that oil operators in North Dakota are still working to bring some of their facilities online after wildfires in October ravaged key oil-producing counties. Mark Bohrer is the assistant director of North Dakota Department of Mineral Resources' oil and gas division. He said that the October production in the state was down by 520,000 bbls. This was primarily due to operators closing in wells in order to prevent damage from wildfires. Bohrer said that the (drop in production) number is significant.
Oil Falls on Demand Worries, Market Awaits Fed Advice
Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates.Brent futures fell 90 cents, or 1.2%, to $73.01 a barrel by 1:36 p.m. EST (1836 GMT), while U.S. West Texas Intermediate crude slipped 86 cents, or 1.2%, to $69.85. That puts both crude benchmarks on track for their lowest closes since Dec. 10 and cut the premium of Brent over WTI to a 12-week low of $3.56 a barrel…
US offers PG&E a conditional loan of up to $15 billion for climate resilience
The Department of Energy announced on Tuesday that the United States had offered PG&E, a California-based utility, a conditional $15 billion loan to upgrade its electrical grid and support climate resilience. PG&E is a natural-gas and electric utility and the parent company of Pacific Gas and Electric Company. It serves about 16,000,000 people in northern and central California. The loan will be paid in cash over several years if the U.S. Department of Energy Loan Programs Office finalizes the record amount. It will be used for projects to refurbish PG&E’s hydroelectric and power lines.
Climate tech firms receive $80 million for removing carbon from paper mills and sewage plants
SAN FRANCISCO, Dec. 17 - Google H&M Stripe, and other members of the Climate-focused Frontier Coalition will purchase $80 million in carbon credits from a company that uses oil industry technology to collect emissions at paper mills and another firm that uses rocks to do the exact same thing at sewage treatment plants. While the U.S. president-elect Donald Trump will likely withdraw from an agreement to limit global warming and reduce support for carbon sequestration, companies from sectors such as tech and finance are continuing to back efforts to remove CO2 from the atmosphere.
Abu Dhabi's ADNOC Gas names Fatema Al-Nuaimi as its new CEO
ADNOC Gas in Abu Dhabi announced on Tuesday the appointment of Fatema al Nuaimi to its CEO position, with effect from January 1, after Ahmed Alebri decided to step down following nearly two years as the leader. In a press release, the company stated that Al Nuaimi would lead the delivery ADNOC Gas’ ambitious business strategy, which is focused on decarbonization and future-proofing. Alebri, meanwhile, will be the CEO of ADNOC Sour Gas as of next month. Al Nuaimi is the executive vice president of downstream business management at ADNOC.
BHP and Rio Tinto will build a low-carbon iron plant in Western Australia
BHP Australia and Rio Tinto Australia will develop together a pilot plant for producing low-carbon iron using Pilbara ore as part of their efforts to accelerate decarbonisation within the steel industry. The companies announced this in a statement released on Tuesday. The facility will produce molten steel using direct reduced iron technology (DRI), and renewable energy in an electric melting furnace (ESF). It could have a production of up to 40,000 tons per year. BlueScope Steel will develop the facility in Western Australia's Kwinana Industrial Hub.
Phillips 66 sells stake in Texas pipeline to $865 million
Phillips 66 announced on Monday that it will sell its 25% stake of the Gulf Coast Express pipeline, located in Texas, to an ArcLight Capital Partners affiliate for $865 millions. This puts the U.S. refiner in a position to surpass its asset sale goal. Phillips 66, despite a decline in refinery profits, has chosen to maintain stable payouts for investors by reducing costs and setting a target of $3 billion via non-core assets sales. Before Monday's announcement, the company had already sold fuel stations, pipelines and a share in a joint venture retailing in Switzerland to raise $2.7billion.
China's thermal energy generation increased by 1.9% from Jan-Nov, despite a growth in renewables.
Official data released on Monday showed that China's fossil fuel power generation increased by 1.9% in the first eleven months of this year. This is despite the rapid expansion of renewable energy plants in the last few years. According to the National Bureau of Statistics, thermal power generation from January to December was 5.74 trillion Kilowatt-hours. Thermal power production in November increased by 1.4% on an annual basis to 517.5 billion kWh. In November, the hydropower output dropped 1.9% compared to last year. It was 82.3 billion kWh.
Daniel Winter named President of Danfoss Power Solutions
Danfoss today announced that Daniel Winter has been named president of Danfoss Power Solutions. He succeeds Eric Alström who, after 12 years with Danfoss, has decided to seek new challenges outside the company.Daniel Winter will join the Danfoss Group Executive Team and take over as President of Danfoss Power Solutions on January 1, 2025. He is well-prepared for the new role and has extensive experience within the company. He currently serves as Chief Financial Officer for Danfoss Power Solutions…
EIA says that US power consumption will reach new highs by 2024 and 25.
The U.S. Energy Information Administration stated in its Tuesday Short Term Energy Outlook that the U.S. will reach record levels of power consumption in 2024-2025. EIA projects that the power demand in 2024 will reach 4,086 kilowatt hours and 4,165 kWh. This compares to 4,012 billion in 2023, and a record of 4,067 in 2022. EIA predicts that by 2024, residential customers will purchase 1,494 billion kWh of electricity, commercial customers 1,420 billion and industrial customers 1,026 billion.
Equinor, BP and TotalEnergies invest in Britain's carbon-capture projects
They announced on Tuesday that Equinor, BP, and TotalEnergies have made the final investment decisions for two of Britain's first projects to capture and store carbon in the north. The Northern Endurance Partnership Project, which is a joint venture between the three companies, will store carbon dioxide permanently for an initial amount of 4 million tonnes per year. Equinor holds 45% of NEP. BP has 45%, and TotalEnergies 10%. Equinor, BP and BP are also partners on the Net Zero Teeside Power Project. This project is a 742 megawatts (MW), gas-fired plant with carbon capture.
US Diesel Exports to ARA Set to Rise
Diesel shipments from the U.S. Gulf Coast to Europe's main trading and refining hub, the Amsterdam-Rotterdam-Antwerp (ARA) region, are set to rise owing to improving export margins on the back of scarce supply in Europe and rising U.S. refinery production, according to traders and ship tracking data.Europe is seeking higher transatlantic diesel imports, as weaker export margins for shipments from east of Suez slowed flows on that route in the last two months. Rising European gasoil demand…
Exxon names GM's former president to lead oil and gas business
Exxon Mobil announced on Tuesday that Dan Ammann - the former president of General Motors will be taking over its most profitable and largest business in early 2013. Ammann, who joined Exxon in 2012 to lead its Clean Energy Unit, Low Carbon Solutions (Low Carbon Solutions), will replace Liam Mallon, a 34-year veteran of Exxon, as president and CEO of Exxon’s Oil and Gas Pumping Business, starting on February 1, 2025. Ammann's appointment and that of Barry Engle, a former GM executive as president of Low Carbon Solutions reflects the continued reshaping by outsiders of top management at this U.S. oil company.
German Cabinet approves $1.4 billion subsidy to reduce 2025 electricity network fees
The German cabinet approved a proposal to provide a subsidy of 1.3 billion euros ($1.37 billion) for electricity network fees that consumers will pay next year. This was announced by the Economy Ministry on Tuesday. High energy prices are straining household budgets in Europe's largest economy and affecting industrial production. The ministry stated that the subsidy would be funded by federal funds. It is expected to reduce the network charges, which make up approximately 20% of the electricity bill.
Cuba announces new restrictions and a contingency plan as the energy crisis intensifies
Cuba has asked businesses and state-owned companies to reduce their air conditioning usage and generate more electricity using renewable sources, and also to take other conservation measures. This is as the communist government faces its worst energy crisis for decades. In a 16-page decret published on Tuesday, the new regulations give the top energy users in the public and private sectors three years to install sources of renewable energy capable of producing 50% or more of their electricity during daylight hours.
Russian drones and missiles strike Ukraine's capital, east, south, and southeast
Officials in Ukraine said that Russian missiles destroyed residential buildings in Kharkiv in eastern Ukraine and Odesa, in the south. A blizzard drones also caused temporary power outages in Mykolaiv Region and targeted Kyiv's capital, they added. Russia is gaining territory in Ukraine's eastern part and is launching nightly attacks against distant cities, using cheap "suicide drones" as well as low-cost, "decoy drones" that stall Ukrainian air defences. Ukraine's air force reported that of the 145 drones it used over night…
