Energy
Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.
Shell completes sale of Western Desert assets in Egypt to Cheiron Petroleum Corporation and Cairn Energy PLC
| September 24, 2021 | Energy
In need of more oil, China is set to splurge over $120 billion on services and drill 118,000 wells through 2025
| September 24, 2021 | Energy
China is looking to pump up oil and gas production in the years ahead to meet climbing domestic demand and reduce the record-high share of imports in its oil consumption. A Rystad Energy report projects a surge in spending till 2025, which will be accompanied by a drilling spree totaling 118,000 wells that will create significant opportunities for suppliers.
Deltamarin and GTT receive ABS approval in principle for a new LNG-fueled Aframax vessel design
| September 24, 2021 | Energy | Alternative | Maritime | Technology
Deltamarin and GTT have received Approval in Principle (AiP) from the classification society American Bureau of Shipping (ABS) for the LNG fueled Aframax tanker design. The AiP was received at the Gastech 2021 exhibition in Dubai.
EIA expects increasing consumption of natural gas by US industry in 2021 and 2022
| September 24, 2021 | Energy
Based on our September Short-Term Energy Outlook, we expect industrial sector natural gas consumption to rise throughout 2021 and to exceed pre-pandemic 2019 levels. We forecast the growth to continue into 2022, and natural gas delivered to industrial consumers will average 23.8 billion cubic feet per day (Bcf/d) that year. If realized, this amount would be near the current record high for annual industrial natural gas consumption set in the early 1970s.
GTI launches Veritas, an initiative to measure and verify companies’ methane emissions reductions
| September 24, 2021 | Energy | Alternative
EIA expects US hydropower generation to decline 14% in 2021 amid drought
| September 23, 2021 | Energy
In our latest Short-Term Energy Outlook (STEO), we forecast that electricity generation from U.S. hydropower plants will be 14% lower in 2021 than it was in 2020. Extreme and exceptional drought conditions have been affecting much of the western United States, especially California and states in the Pacific Northwest, which are home to the majority of U.S. hydropower capacity.
Bureau Veritas issues novel design approval for what will be the world’s largest very large gas carriers (VLGCS)
| September 23, 2021 | Energy
A new ‘Panda’ design is conceived at Jiangnan as the shipyard and BV cooperate on an enhanced and revolutionary design for 93,000 CBM VLGCS.
Synergy Group to technically manage Maersk Tankers fleet
| September 23, 2021 | Energy
DNV and LISCR award AiP to HHI for 40,000 CBM liquefied CO2 carrier design
| September 23, 2021 | Energy | Maritime | Technology
Classification society DNV and the Liberian International Ship & Corporate Registry (LISCR) have awarded an Approval in Principle (AiP) to Hyundai Heavy Industries (HHI) and Korea Shipbuilding & Offshore Engineering CO. (KSOE) for a new 40,000 CBM liquified CO2 carrier design. The handover of the AiP certificate took place during the Gastech trade fair in Dubai.
Natural gas revenue made up an increasing share of total revenue for some U.S. oil producers
| September 23, 2021 | Energy
West Texas Intermediate (WTI) crude oil prices have surpassed 2019 levels after having dropped significantly in 2020 when the market initially responded to the COVID-19 pandemic.
More rail tank cars meet DOT-117 safety standards in 2020
| September 23, 2021 | Energy | Intermodal | Rail
More than half (54%) of rail tank cars carrying Class 3 flammable liquids in 2020 met new safety requirements, an increase from the 48% in 2019, according to the Fleet Composition of Rail Tank Cars Carrying Flammable Liquids: 2021 Report released today by the U.S. Department of Transportation’s Bureau of Transportation Statistics.
Seismic vessel utilization recovers to pre-Covid-19 level as market embraces energy transition jobs
| September 23, 2021 | Energy
The Covid-19 pandemic has been devastating for the seismic industry for several quarters, keeping nearly half of its global fleet inactive – until recently. A Rystad Energy report shows that the seismic fleet’s hibernation is now over, as vessel utilization has recovered to pre-Covid-19 levels in the third quarter of 2021. About 68% of the fleet, or just over two-thirds of the vessels are now surveying or under way, while only one-third remain inactive.
Arctic oil, gas production is booming despite climate fears
| September 23, 2021 | Energy | International Trade
Key US oil price weakens with post-hurricane supply recovery
| September 22, 2021 | Energy
US energy exports show first surplus since at least the 1970s
| September 22, 2021 | Energy
Rystad Energy’s Vice President gas and power markets, Xi Nan, comments on China’s pledge on coal
| September 22, 2021 | Energy | Conventional | By The Numbers
Oil gets a boost on US stocks draw and supply tightness / Extra comment on China’s coal wow - Rystad Energy
| September 22, 2021 | Energy | Conventional | By The Numbers
U.S. energy trade lowers the overall 2020 U.S. trade deficit for the first time on record
| September 22, 2021 | Energy | Conventional
In 2020, the U.S. net merchandise trade value of energy products—the value of petroleum, natural gas, coal, and electricity exports less the value of their imports—was a surplus of $27 billion.
Tennessee Gas Pipeline and Southwestern Energy Company announce responsibly sourced natural gas agreement
| September 22, 2021 | Energy | Conventional
Oil inches up as trader mood swings on China concerns and US supply - Rystad Energy
| September 22, 2021 | Energy | Conventional | By The Numbers
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