Tag: oil and gas

Cleaning Up: Oil majors adapt to the new renewables’ reality

Cleaning Up: Oil majors adapt to the new renewables’ reality

September 11, 2022 |

With cost economics and international pr­e­ssure on climate mitigation driving clean energy growth, companies in the oil and gas sector are also redefining their expansion strategies and aligning them with the new reality. These companies have massive infrastructure in the areas of offshore and onshore exploration, refineries, pipe­lines and transport systems, and have en­ergy-intensive operations. Thus, they are ideal sites for clean energy integrati­on.

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EU Energy Security & Climate Action: White Paper

EU Energy Security & Climate Action: White Paper

August 30, 2022 | ,

The white paper covers the nature of the EU’s security of supply challenge, an assessment of the levers which can address this challenge in the short- and mid-term, and recommendations on specific actions for European states to take. The analyses conducted confirm that there is a path for Europe to secure its energy supply over the next winters and into 2025, and to do so in conformity with its medium-term climate commitments.

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Energy produced in Britain is the safest option: UK Energy Secretary Kwasi Kwarteng 

Energy produced in Britain is the safest option: UK Energy Secretary Kwasi Kwarteng 

July 12, 2022 |

Unlike many in Europe, our energy comes from a variety of highly diverse, reliable, and secure sources. On electricity, our diversity of supply is a great strength. We have the world’s second largest installed capacity of offshore wind – only just beaten by China in fact only a year ago. We have onshore wind, we have solar power, we have nuclear, we have hydroelectric power, and of course we’ve got interconnectors between us and countries in Europe.

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bp’s Statistical Review of World Energy 2022

bp’s Statistical Review of World Energy 2022

July 5, 2022 | ,

According to the report, electricity generation increased by 6.2% in 2021 – similar to the strong bounce back seen in 2010 in the aftermath of the financial crisis (6.4%). Wind and solar reached a 10.2% share of power generation in 2021, the first time wind and solar power have provided more than 10% of global power and surpassing the contribution of nuclear energy.

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Renewables rescue Turkey’s electricity sector

Renewables rescue Turkey’s electricity sector

June 22, 2022 |

Wind and solar power generation lowered Turkey’s import bills by preventing seven billion USD fossil fuel imports in the last 12 months. In the following months, approximately 700 million USD in savings is expected each month if the gas price remains the same. While the Transmission System Operator reserves limited capacities for wind and solar, auctions attract 10-15 times more applications than the auctioned capacities.

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Tax relief for oil and gas is trouble for UK bills and energy transition

Tax relief for oil and gas is trouble for UK bills and energy transition

June 12, 2022 |

By introducing additional tax relief limited to oil and gas investment, Treasury incentivises a slower transition and pushes companies to allocate profits towards new oil and gas developments instead of renewables. If this revenue had instead been spent on supporting energy efficiency measures it would have the potential to lift households out of energy poverty for good. 

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E3G Briefing: UK’s Home Energy Security Strategy

E3G Briefing: UK’s Home Energy Security Strategy

June 9, 2022 | ,

Ofgem has predicted that the energy price cap will hit £2,800 in October. The UK government has provided £37bn this year just to keep people afloat. Investing now in long-term, enduring solutions can prevent similar sums from being required up to 2030 and potentially beyond. The government could act now to reliably lower bills by launching a national mission to upgrade the UK’s cold and leaky homes.

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Clean Energy Is the Key to Real Energy Independence

Clean Energy Is the Key to Real Energy Independence

March 12, 2022 |

President Biden has laid out a plan for $550 billion in clean energy investment over the next 10 years. It’s a plan to create jobs, save families an average of $500 a year in energy bills, and help to make our country more secure. Ending our dependence on oil will distance U.S. families and businesses from the volatility of global markets. It will take us out of the business of subsidizing aggression from petro states like Russia. And it will help us confront the global climate crisis—the existential environmental challenge of our time.

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IEEFA: Russia-Ukraine conflict adds impetus to Asia’s energy transition

IEEFA: Russia-Ukraine conflict adds impetus to Asia’s energy transition

March 7, 2022 |

Russia’s invasion of Ukraine spells further turmoil for global energy markets already reeling from extreme price volatility over the past two years. For Asian economies dependent on imported fossil fuels, volatile prices since 2020 have caused fuel shortages, exorbitant government subsidy burdens, inflation, food scarcity, and political instability. Distributed generation sources, energy storage technologies, microgrid systems, and electric transit technologies, among many other alternatives, can help countries improve self-sufficiency to create a more secure energy system.

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United Kingdom Energy Trends

United Kingdom Energy Trends

January 4, 2022 | ,

Energy trends focuses on the supply and demand of coal, oil, gas, electricity and renewables in the United Kingdom. According to the update, low carbon sources generated 51.5 per cent of the total in Quarter 3 2021, down 3.2 percentage points on the previous year.

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Strong Upside Risks For Renewables Growth In Taiwan Following Referendum

Strong Upside Risks For Renewables Growth In Taiwan Following Referendum

November 27, 2021 |

Taiwan’s wind and solar power capacity will continue to grow in the coming decade, with favourable referendum results for a nuclear phase-out and a liquified natural gas (LNG) terminal relocation to pose a further upside risk. Taiwan has set in place a pipeline of solar and wind power projects, signifying the government’s commitment to their renewable power targets.

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Total Energies plans to set up 500 MW of solar projects in Libya

Total Energies plans to set up 500 MW of solar projects in Libya

November 24, 2021 |

Total Energies and Libya’s General Electricity Company signed a Memorandum of Understanding (MoU) for the long-term development of solar photovoltaic projects with a total capacity of 500 MW to supply electricity to the national grid and a $2 billion investment in crude oil and gas extraction. The agreements were made at the Libya Energy & Economy Summit, which was organised by the Government of National Unity and was the first economic conference in Libya in 10 years.

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Are oil and gas companies serious about the renewable energy transition? Here’s what the evidence says.

Are oil and gas companies serious about the renewable energy transition? Here’s what the evidence says.

November 13, 2021 |

Citizen protests in many parts of the world indicate that public sentiment is rapidly turning against polluting energy sources. Public and private investors alike are pulling money out of fossil fuel companies to avoid the risk of stranded assets. What’s more, renewable electricity generation is now cheaper than both existing and new fossil fuel-based power. So for any fossil fuel company that wants to live, a reorientation toward renewable energy seems a logical way forward, right?

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The UK Clean Power Plan

The UK Clean Power Plan

October 11, 2021 |

The Government’s recent enshrining in law of a 78% reduction in UK greenhouse gas (GHG) emissions by 2035 (compared to 1990 levels) will lead to a major shift in the UK’s energy system in the coming decade. The Government now needs to strengthen its strategy for meeting that target. Key to that will be the phase-out of unabated gas-fired electricity generation in the UK, effectively removing the last major source of power sector emissions.

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Hydrogen Market in the Middle East

Hydrogen Market in the Middle East

October 9, 2021 |

The development of clean energy resources continues to evolve across the Middle East. Recognising the potential of clean hydrogen, the region is now looking to diversify its economy through the production of clean hydrogen. The availability of existing oil and gas infrastructure and cheap renewable generation makes the GCC countries ideally placed to capitalise on this.

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Green Giants? China’s National Oil Companies Prepare for the Energy Transition

Green Giants? China’s National Oil Companies Prepare for the Energy Transition

October 5, 2021 | ,

This report, part of the China Energy and Climate Program at Columbia University’s Center on Global Energy Policy, provides a baseline for understanding how China’s NOCs are responding to climate change. Authored by Dr. Erica Downs, Senior Research Scholar at the Center on Global Energy Policy, the report examines the activities the three companies identified as part of their emerging energy transition strategies before Xi Jinping unveiled the carbon peaking and carbon neutrality targets, and why they didn’t do more.

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Demethanization: The New Viral Energy Transition Sensation

Demethanization: The New Viral Energy Transition Sensation

September 29, 2021 |

Decarbonization has become the catch-all term for climate action. But while carbon dioxide is the biggest contributor to global warming, the case for tough action against methane emissions, known as ‘demethanization’, is literally becoming clearer by the day. As satellites and detectors closer to ground train increasingly sophisticated sensors at sources of ‘the other greenhouse gas’, this is lifting the veil on emissions that have long proven more elusive than CO₂.

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IEA Key World Energy Statistics 2021

IEA Key World Energy Statistics 2021

September 21, 2021 | ,

IEA Key World Energy Statistics (KWES) is an introduction to energy statistics, providing top-level numbers across the energy mix, from supply and demand, to prices and research budgets, including outlooks, energy indicators and definitions. KWES is part of the IEA’s annual edition of the world’s most comprehensive series of energy databases and data services, which include World Energy Statistics and Balances and the full range of fuel information data services.

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GE Renewable Energy signs deal with Polish oil refiner

GE Renewable Energy signs deal with Polish oil refiner

August 26, 2021 |

GE Renewable Energy and Polish oil refiner PKN Orlen have signed a memorandum of understanding to work together and to support the offshore wind projects in Poland. According to statements issued by each company, GE Renewable Energy’s expertise will help Orlen compete for additional offshore wind leases in Poland.

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