The EPA chief wants to recover $20 billion in climate funding
He said that the head of the U.S. Environmental Protection Agency wants to terminate contracts signed by the previous administration for the distribution of $20 billion in grant funds to fund clean energy projects and transportation in disadvantaged areas. In a message on X, EPA Administrator Lee Zeldin stated that he would ask the Inspector-General, Congress, and Justice Departments to work together with the agency in order to terminate the contracts with eight regional organizations who were named as financial agents…
EIA: US natgas production and demand will reach record highs by 2025
The U.S. Energy Information Administration released its Short-Term Energy Outlook Tuesday, predicting that both the U.S. Natural Gas output and demand would reach record highs by 2025. EIA's projected dry gas production is expected to rise from 103.1 billion cubic feet per day in 2024, to 104.6 bcfd by 2025, and then 107.3 bcfd by 2026. This compares to a record-breaking 103.6 bcfd for 2023. The agency projected that domestic gas consumption will rise from 90.2 billion cubic feet per day (bcfd) in 2024, to 90.7 in 2025 and then ease back to 90.2-bcfd by 2026.
TotalEnergies exceeds expectations in the fourth quarter profit and signals a stronger 2025
TotalEnergies, the French oil giant, beat the expectations for its fourth-quarter earnings Wednesday. Higher trading profits on the gas market helped to offset the impact of low fuel prices and weak demand. The adjusted net income for 2024's final quarter was $4.4 billion. This is down 15% on the $5.2 billion of the previous year, but still slightly above the $4.1 billion in the third quarter. According to a LSEG analyst consensus, the results exceeded expectations of $4.2 billion. The company expects to see higher gas prices, production upstream and sales of power in early 2025.
Engie continues to see a strong US demand for renewables
Edouard Neviaski, executive vice president of French power company Engie, said that the U.S. is still a major market for the company in terms of renewable energy projects. The U.S. president Donald Trump ordered a stop to spending on the Inflation Reduction Act and Infrastructure Investment and Jobs Act. These climate and infrastructure laws were signed into law in 2009 by his predecessor Joe Biden. Engie signed 4.3 gigawatts in power purchase agreements globally in 2024. This is up from 2.7 gigawatts in 2023. Neviaski stated that there is a high demand for such contracts in the United States.
Chevron will build gas plants for data centers in the AI boom
The oil and gas company Chevron announced on Tuesday that it will build natural gas power plants near data centers in the U.S. as the energy demand for artificial intelligence growth is expected to grow. The second largest U.S. oil and gas producer has partnered with Engine No. The project is a partnership between Engine No. 1 and electric service company GE Vernova. Chevron announced the project a day after Chinese startup DeepSeek revealed an AI model it claims uses much less computing power than leading models in the United States.
Engine No. 1: Chevron and Engine No. GE Vernova will power US datacenters
Chevron, the world's largest energy company, announced on Tuesday that it had signed an agreement to invest with Engine No. 1 and GE Vernova will build natural gas-based energy plants in the U.S. to power co-located data centres. The announcement came just one week after U.S. president Donald Trump announced a private investment of up $500 billion in infrastructure for artificial intelligence. This was done to keep pace with rival nations. The project will use GE Vernova natural gas turbines…
Oil industry unlikely rush to Alaska despite Trump’s call for drilling
U.S. companies will not expand their development in Alaska or the Arctic after President Donald Trump signed an executive order that allows them to do so. Industry representatives and company officials said this, pointing out that a future president would be able to reverse Trump's decision. U.S. Oil Production is Already at Record Levels. This is largely due to the increased production of oil in more accessible areas such as Texas and New Mexico. Companies have also limited their spending on new projects, focusing on returning cash to investors.
BOEM Advances Offshore Wind Leasing in Guam
In support of the current administration’s goals to deploy 30 gigawatts (GW) of offshore wind energy capacity by 2030 and 15 GW of floating offshore wind energy capacity by 2035, the Bureau of Ocean Energy Management (BOEM) today announced the publication of a Call for Information and Nominations (Call) for possible wind energy leasing off the coast of the U.S. Pacific Territory of Guam.This Call will gather public comments to inform potential leasing areas, and results from close collaboration with the Government of Guam…
Mexico's oil production drops to its lowest level of the year in November
Mexico's production levels of liquid hydrocarbons and natural gas fell in November to the lowest recorded all year, and were well below the averages for last year. Official numbers published by regulator showed. The country has missed its 1.8 million barrels per day crude oil and condensate production target twice in November. President Claudia Sheinbaum had promised to keep this goal for the six years of her term. The numbers released late Monday show that Mexico produced 1.747 millions bpd liquid hydrocarbons in November. 1.488 billion bpd was crude oil, and 259,000 bpd was condensate.
Spain's demand for electricity is increasing as renewables set records
According to Red Electrica's estimates, the amount of electricity consumed in Spain increased this year, after two years of decline. A record 56% came from renewable sources, such as solar and wind. The Spanish renewable energy industry has warned about the dangers of future investment in this sector due to the lack of demand for electricity. The preliminary figures indicate that demand increased by 1%, or 1.6% when adjusted for working hours and temperatures from 2023 to 244 terawatt-hours. In its climate and energy plans, Spain has set high targets for renewables.
Indonesia's plans for renewable energy may endanger forests
Indonesia, which is heavily dependent on coal for electricity, needs to move away from fossil fuels. It aims to generate 75 gigawatts from renewable sources over the next fifteen years. This compares with the 13 gigawatts it produces today. This push will be based on the use of biofuels that burn cleaner, i.e. organic material converted into liquid fuel. The government claims that biofuels will reduce Indonesia's dependence on costly fuel imports and greenhouse gases, while increasing palm oil production. This will in turn spur economic growth.
EIA: US natgas production will decline in 2024 as demand reaches record levels, EIA reports
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook, released on Tuesday, predicted that U.S. Natural Gas production would decline by 2024 and demand would rise to a new record. EIA predicted that dry gas production would decline from a record 103,8 billion cubic feet per a day in 2023 down to 103.2 bcfd by 2024 due to fewer drilling activities. The producers have reduced drilling following the average monthly Henry Hub spot gas price. In March, the number of people who are employed fell to its lowest level in 32 years. Since then, it has remained low.
A survey shows that big steelmakers are not switching to renewable energy sources.
A survey of 18 major firms revealed that the world's largest steelmakers are falling further behind in their shift to low-carbon production. Some still rely on fossil fuels as their primary source of energy. The steel industry is responsible for around 7% of the global CO2 emissions. This is about the same as India. Coal-fired blasting furnaces produce 2 tons of CO2 per ton of output. There are alternative technologies, such as electric arc-furnaces (EAFs), which can be powered by renewable sources.
Adani allegations bring India's clean-energy conundrum to the forefront
The allegations of bribery against Adani Group's founder Gautam Adani highlight the increasing difficulty that India's renewable energy developers have in finding buyers for their power. Officials say that while India's central governments wants to move away from coal-fired power generation and towards renewable energy sources, state-owned companies in charge of supplying electricity have been slow to strike deals. U.S. officials allege that Indian billionaire Adani devised a $265-million…
ArcelorMittal delays planned green investments for EU
ArcelorMittal is the second largest steelmaker in the world. It announced on Friday that it was delaying green investments due to uncertainty over European Union regulations. ArcelorMittal received 850 million Euros ($885 million) from the French Government in January to support its 1.7 billion Euro decarbonisation programme in France through 2030 at its Dunkirk site and Fos-sur-Mer site. ArcelorMittal said on Friday that it had not yet made final investment decisions for these projects. This includes the replacement of 2 out of 3 blast furnaces at Dunkirk with green hydrogen-powered installations.
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-year period, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother, and Indonesia’s envoy at the United Nations Climate Change Conference 2024 in Baku, Azerbaijan. Indonesia, which is one of the biggest emitters of greenhouse gases in the world, has committed to achieving carbon neutrality by 2030, by replacing coal-fired plants with renewable energy sources.
Envoy to COP29 says Indonesia will build 75 GW renewable energy within 15 years.
Indonesia will offer international investors the opportunity to build 75 gigawatts of renewable energy in the country within the next 15-years, said its climate envoy on the sidelines the COP29 summit. Hashim Djojohadikusumo is Prabowo’s brother, and Indonesia’s envoy at the United Nations Climate Change Conference 2024 in Baku, Azerbaijan. Indonesia, which is one of the biggest emitters of greenhouse gases in the world, has committed to achieving carbon neutrality by 2030, including through the phase-out and replacement with renewable energy sources.
Japan and Peru agree to cooperate in mineral mining technologies - Nikkei
Nikkei, a Japanese business daily, reported on Saturday that the leaders of Japan will sign a statement on cooperation on mineral mining technology later this month. The aim is to strengthen their supply chains by using Japanese technology. Nikkei reports that Japanese Prime Minister Shigeru shiba will hold a bilateral with Peruvian leader Jose Luis Guajardo during his visit to Peru to attend the Asia-Pacific Economic Cooperation Leaders' Summit (APEC). Japan, a country with limited resources, has actively reinforced global supply chains of critical minerals.
US federal energy revenues to fall 10% by 2024 but remain among the highest ever
The U.S. Interior Department reported that federal revenue from energy production in public lands and water fell 10% to $16.4 billion during the last fiscal year. Interior Department announced on Friday. This was the fourth-highest year since 1982, and the lowest total since 2021. Biden's administration has implemented policies that will help the transition from fossil fuels to renewable energy sources, while reducing new leasing of federal lands. Donald Trump, the President-elect Donald Trump, has pledged to increase oil and gas production through a relaxation of regulations.
Mexican energy plan boosts state-owned power company and sets rules for private producers
Senior officials stated that the government's energy priorities include increasing state-owned CFE and setting rules for companies producing electricity using renewable sources. At a joint press conference with the president of the country, Claudia Sheinbaum said that private companies could add an additional 9,6 gigawatts to their capacity by 2030 using renewable sources. CFE's investment plan of $23.4 billion will see it add 13 gigawatts to its capacity, both for fossil fuels and renewables. CFE will spend $7.5 billion just on transmission infrastructure, as well as on transformers and substations.
