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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.
Both primary energy consumption and carbon emissions from energy use fell at their fastest rate seen since the Second World War, while renewable energy continued its trajectory of strong growth, with wind and solar power recording their largest ever annual increase. World oil production fell for the first time since 2009 by 6.6
wind farm in the North Sea and the hydrogen produced will be used in the refinery.?. —Martin Neubert, executive vice president and CEO of offshore wind, Ørsted. ??. The Lingen Refinery processes about five million tonnes of crude oil a year (~100,000 barrels ?a a day), producing fuels, heating oil and chemical feedstocks.
The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). million barrels per day this year and 12.8
Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. The gradual decline foresees a decrease in crude oil production by around 30% and natural gas production by around 15% by 2030.
Suncor Energy, a Canadian integrated energy company that is one of the top oil sands producers in the country, will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. Suncor also plans to divest its wind and solar assets.
Petrochemicals are rapidly becoming the largest driver of global oil demand. Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. Source: IEA. —Dr Fatih Birol, IEA Executive Director.
In the first half of 2022, motors with oil cooling became the dominant form in the electric car market, taking 50% market share, according to a report from IDTechEx. IDTechEx is predicting oil to gain an even greater market share with purely water jacket-cooled motors remaining in a significant way. This is where oil cooling comes in.
DSIC) has delivered the wind-assisted Very Large Crude Carrier (VLCC) New Aden to China Merchant Energy Shipping Co., Dalian Shipbuilding Industry Co. Ltd (CMES). The vessel has an overall length of about 333 meters, a moulded width of 60 meters and a moulded depth of 30 meters. The designed draft is 20.5
The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. While diesel and oil-based power is still uneconomic at $60/barrel, the pressure to switch is reduced.
These results indicate that coal and oil are the energy sources leading to most emissions, and that hydro, wind, and nuclear are the energy sources leading to least emissions. On the two extremes, coal and oil result in about 176 times the emissions from hydro.
In today’s Electrek Green Energy Brief (EGEB): Saudi Arabia’s first wind farm is now connected and producing clean energy. more… The post EGEB: Oil kingdom Saudi Arabia launches its first wind farm, the Middle East’s largest appeared first on Electrek. Click here to learn more and get your quotes. — *ad.
of the methane encountered during oil production. of the methane in gas flares used by the oil and gas industry. During oil production, producers encountering pockets of methane typically use flare stacks to burn off the vented gas.
To achieve this, hairpin winding technology is used in the stator as well as combined oil-water cooling. The rotor and stator are internally oil-cooled and the active parts are installed in a water cooling jacket. The new electric motor is available in power ratings between 150 and 230 kilowatts continuous output.
EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.
Gold Hydrogen is a novel source of carbon neutral hydrogen produced from depleted oil reservoirs that are ready for plug and abandonment, extending the life of wells that would otherwise be a significant burden. Cemvita Factory’s mission is to reimagine heavy industries such as oil & gas and mining for the net-zero economy.
These results indicate that coal and oil are the energy sources leading to most emissions, and that hydro, wind, and nuclear are the energy sources leading to least emissions. On the two extremes, coal and oil result in about 176 times the emissions from hydro. Nuclear 0 0 Wind 2.5 Natural gas 87.9 Geothermal 16.5
Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.
These results indicate that coal and oil are the energy sources leading to most emissions, and that hydro, wind, and nuclear are the energy sources leading to least emissions. On the two extremes, coal and oil result in about 176 times the emissions from hydro. Energy source. Proportional amount of emissions relative to hydro.
The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines. mb/d this year, world oil demand is forecast to expand by 2.2 mb/d to 101.6
Deep declines in wind, solar and battery technology costs will result in a grid nearly half-powered by the two fast-growing renewable energy sources by 2050, according to the latest projections from BloombergNEF (BNEF). Wind and solar grow from 7% of generation today to 48% by 2050.
In countries that choose to continue or increase their use of nuclear power, it can reduce reliance on imported fossil fuels, cut carbon dioxide emissions and enable electricity systems to integrate higher shares of solar and wind power.
The Brent crude oil spot price averaged $112 per barrel in 2012, and EIA’s July 2013 Short-Term Energy Outlook projects averages of $105 per barrel in 2013 and $100 per barrel in 2014. Almost 80% of the projected increase in renewable electricity generation is fueled by hydropower and wind power. Liquid fuels.
Building on the UK’s leading electronics research, the resulting electric drive system exceeded the latest permanent magnet motor performance while simultaneously removing the need for both rare-earth magnets and copper windings, delivering a package both cost effective and recyclable at its end of life.
While oil will remain the most widely used fuel, overall energy demand will be reshaped by a continued shift toward less-carbon-intensive energy source as well as steep improvements in energy efficiency in areas such as transportation, where the expanded use of advanced and hybrid vehicles will help push average new-car fuel economy to 48 mpg (4.9
megawatt (MW) turbines has been installed at the world’s largest floating wind farm, off the Norwegian coast. Hywind Tampen is also Norway’s first offshore wind farm – and it will power offshore oil and gas platforms. The first of 11 8.6
The power output remains constant over the duration of the race, so there is no thermally induced de-rating—a major advantage of the electric motors with direct oil cooling developed by Porsche. Highly efficient motors with direct oil cooling. The Mission R is on a par with the performance level of the Porsche 911 GT3 Cup.
The US Department of the Interior has proposed the first-ever offshore wind lease sale in the Gulf of Mexico. more… The post Move over, oil – offshore wind is headed to the Gulf of Mexico appeared first on Electrek.
In today’s Electrek Green Energy Brief (EGEB): French oil giant Total changes its name to TotalEnergies to mark its shift to renewables. The first wind turbine has been erected at Hornsea Two offshore wind farm in the UK, and it will be huge. Tesla now offers price matching, so it’s important to shop for the best quotes.
Second, LNG is, and has been, less expensive than MGO and is now in some regions cheaper than heavy fuel oil (HFO). Moreover, to comply with IMO’s 2020 global sulfur limit, ships must either switch from HFO to more expensive very low sulfur fuel oil (VLSFO) or use HFO with a scrubber, if they have one installed. Credit: The ICCT.
The composite blocks can be made from low-cost and locally sourced materials, including the excavated soil at the construction site, but can also utilize waste materials such as mine tailings, coal combustion residuals (coal ash), and fiberglass from decommissioned wind turbine blades.
Ørsted, the world’s leading offshore wind developer, together with the major industrial companies in the North Sea Port cluster, have launched the SeaH2Land vision for a gigawatt scale project to reduce carbon emissions in the Dutch-Flemish industrial cluster with renewable hydrogen.
EVs charging in Vermont are estimated to produce the fewest emissions—oil and gas make up only 1.2% of the electricity sources in the state while cleaner sources such as nuclear, hydro, biomass, wind, and solar make up the rest. Annual well-to-wheel emissions from a typical ev by state, 2015. Source: DOE. Click to enlarge.
The US Bureau of Ocean Energy Management (BOEM) today announced it has finalized two Wind Energy Areas in the Gulf of Mexico that will have the potential to produce enough clean energy to power nearly 3 million homes. The post Move over, oil – wind energy is officially coming to the Gulf of Mexico appeared first on Electrek.
The global rare earth market, driven by demand from industries including electric vehicles and offshore wind, is expected to increase five-fold by 2030 and the NdPr oxide price is forecast to increase at a CAGR of 4.8 - 9.9%, underpinning strong economics for the investment. China currently supplies 98% of Europe’s rare earth magnets.
An annual contribution of at least €1 billion from the oil and gas industries in the form of a reallocation of public subsidies paid until now to the oil sector—which total €19 billion according to the Court of Auditors—with the rest allocated to debt reduction. Hydrogen Production Natural Gas Power Generation Solar Wind'
By the end of this decade, it aims to have developed around 50 gigawatts of net renewable-generating capacity (a 20-fold increase), increased annual low carbon investment 10-fold to around $5 billion and cut its oil and gas production by 40%. In 2020, bp announced its net zero ambition and its new strategy.
In Brazil, the rebound of road transport activity after the April low drove a recovery in oil demand, while increases in gas demand in the later months of 2020 pushed emissions above 2019 levels throughout the final quarter. As travel and economic activities pick up around the world, oil consumption and its emissions are rising again.
China will see the largest increase—more than 4 million oil-equivalent barrels per day. As conventional production declines, more of the world’s oil demand will be met by emerging sources that only recently became available in significant quantities: oil sands, tight oil, deepwater, NGLs and biofuels. Natural gas.
A coalition of major oil & gas, power, automotive, fuel cell, and hydrogen companies have developed and released the full new report, a “ Road Map to a US Hydrogen Economy. ” Demand potential across sectors, base and ambitious cases. Road Map to a US Hydrogen Economy ”. million jobs by 2050.
It will produce low-carbon fuels such as renewable diesel from waste in the form of used cooking oil, waste animal fat and other industrial and agricultural residual products, using technology developed by Shell. The facility will not use virgin palm oil as feedstock.
It aims to experiment, test and develop energy solutions based on hydrogen, solar, tidal and wind power. The green hydrogen used by Energy Observer is made from seawater using on-board renewable sources of electricity (solar, wind and hydropower).
Oil accounts for most of this decline as, for the first time, global consumer spending on oil is set to fall below the amount spent on electricity. Global investment in oil and gas is expected to fall by almost one-third in 2020. At the same time, many national oil companies are now desperately short of funding.
Daewoo Shipbuilding & Marine Engineering (DSME) announced that DNV has awarded an Approval in Principle (AIP) for the new DSME Rotor Sail System, designed for ultra-large crude oil carriers and LNG carriers. A rotor sail is a tall rotating cylindrical column on the deck of a ship that provides propulsion from the wind.
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