Energy
Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.
Venezuela oil exports almost triple even as US adds sanctions
| December 01, 2020 | Energy
Oil near $45 with OPEC+ struggling for consensus on output
| December 01, 2020 | Energy | Logistics
Oil-hungry Asia lures armada of tankers carrying American crude
| December 01, 2020 | Energy | Logistics
Prices at stake: If OPEC+ increases output in January, a 200 million-barrel glut will build through May
| November 30, 2020 | Energy
As the world is aching to put an end to a devastating 2020, oil producers are now assessing the lasting effect of the pandemic into 2021 – and in particular, the consequences of oil demand destruction to global balances.
Oil pares losses with vaccine hopes offsetting OPEC+ uncertainty
| November 30, 2020 | Energy
As global oil demand outlook weakens, planned refining capacity boom set to keep utilization low
| November 25, 2020 | Energy
The ongoing energy transition combined with the effects of Covid-19 will drive future oil demand to lower levels than what was expected just months ago. As a result, a plethora of planned refinery additions will far exceed closures towards 2025, and utilization rates will likely never recover to pre-pandemic levels unless some capacity closes early, a Rystad Energy market analysis reveals.
Pre-Thanksgiving gasoline prices at lowest level since 2015
| November 25, 2020 | Energy
The average U.S. regular retail gasoline price (the price that consumers pay at the pump) during the week before Thanksgiving this year was $2.10 per gallon (gal), the lowest average retail gasoline price for the Monday before Thanksgiving since 2015, according to the U.S. Energy Information Administration’s (EIA) Gasoline and Diesel Fuel Update.
World may not have enough heavy lift vessels to service the offshore wind industry post 2025
| November 25, 2020 | Energy | Project / Heavy Lift | Maritime Project
Offshore wind is booming, and as turbine and project sizes grow, demand for specialized installation vessels will soar. The market for vessels capable of installing large offshore wind components is quickly being outpaced by growing demand from the global development pipeline, a Rystad Energy analysis shows.
New York generated the fourth most electricity from renewable sources of any state in 2019
| November 23, 2020 | Energy
In 2019, more electricity was generated from renewable sources in New York than in all but three states, according to the U.S. Energy Information Administration’s (EIA) Electric Power Monthly. New York’s 39.4 million megawatthours (MWh) of renewable electricity generation was more than any other state east of the Mississippi River and accounted for 30% of the state’s total electricity generation in 2019.
Africa’s renewable energy capacity is set for consecutive years of growth, exceeding 50 GW in 2025
| November 23, 2020 | Energy
Africa’s installed capacity of renewable energy, which stood at 12.6 gigawatt (GW) in 2019, is set for consecutive years of growth, a Rystad Energy analysis shows. The continent’s capacity is forecast to reach 16.8 GW in 2020, add another 5.5 GW in 2021, and further climb to 51.2 GW in 2025, led by growth in solar and wind projects in Egypt, Algeria, Tunisia, Morocco and Ethiopia.
Off-grid solar generation could affect how Africa uses coal, natural gas for electricity
| November 20, 2020 | Energy
In the International Energy Outlook 2020 (IEO2020), the U.S. Energy Information Administration (EIA) projects electricity generation in Africa using two cases with different assumptions about how future electricity needs are fulfilled. In the Maximum Grid Expansion case, in which a centralized grid is developed to meet electricity demand throughout the continent, EIA projects that solar photovoltaic generators will meet 13% of Africa’s electricity generation in 2050. In this case, EIA’s projections do not include off-grid, stand-alone generators. In contrast, in the Maximum Off-Grid case, where demand growth in the southern half of the continent (Africa-South) is met by off-grid resources, solar energy—from both grid-connected and off-grid systems—will provide 21% of continent-wide electricity generation in 2050.
Trump wins fight to close solar tariff loophole he granted
| November 19, 2020 | Energy
Oil hits two-month high with vaccine news buoying demand hope
| November 18, 2020 | Energy
Uganda to start building oil export pipeline in first half 2021
| November 18, 2020 | Energy
Hydrogen opens a prolific service industry as coming project spending bakes a $400 billion pie
| November 18, 2020 | Energy | Alternative | By The Numbers
A wave of green and blue hydrogen projects that are poised to be developed in coming years could unlock about $400 billion worth of spending for the service industry between 2020 and 2035, a Rystad Energy industry analysis reveals.
The Gulf of Mexico saw its largest decrease in crude oil production since 2008 in August
| November 18, 2020 | Energy | Conventional | By The Numbers
In August 2020, the Federal Offshore Gulf of Mexico (GOM) saw its largest monthly decrease in production of crude oil since September 2008, dropping by 453,000 barrels per day (b/d), or 27%.
NABTU and Ørsted sign landmark MOU for U.S. offshore wind workforce transition
| November 18, 2020 | Energy | Alternative
Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen
| November 18, 2020 | Energy | Conventional | By The Numbers
Saudi Arabia aims next to be largest hydrogen exporter
| November 18, 2020 | Energy
Last U.S. oil giant in Venezuela looks to Biden to keep foothold
| November 18, 2020 | Energy | Conventional
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