Energy news
Solar-powerd Plane flies cross country making a stop in Washington.
A fully Solar powered airplane landed in Washington on Sunday after a flight from St. Louis heading towards the end of its journey across the United States in an attempt to promote clean energy technologies. With the completion of this journey, this aircraft will be one of its kind to complete a day and night journey across the US. One of its kind being the first solar-powered aircraft.
Locals to lead to the end of wind farm era?
A new guidance is indeed a revolutionary move of the UK government as the authorities aim to bolster onshore wind energy projects. But the new guidance, which will give local communities of England a voice and power to block these onshore initiatives, might lead to the end of onshore wind farm era. Even though the government will try to sweeten the possibility of a window with view of wind turbines with money, residents might be not in favor of wind farms as these facilities often roil outstanding landscapes and disrupt peaceful lives.
UK should make the best of its colossal shale gas reserves
It seems that the UK might have a golden goose as IGas Energy Plc informed that it had much more shale gas than initially estimated. This revelation might mean an approaching revolution which in turn will significantly decrease the UK reliance on foreign gas. Thus the country should take advantage of its colossal shale gas reserves.
BP to add 2 drills in Alaska as tax breaks bring a wave of investment
New tax breaks have brought a wave of investment as BP Plc decided to add two new drill rigs to the North Slope. The project, which is to be wrapped up by 2016, is an essential element of a $1 billion investment plan the British oil giant wants to introduce over the next five years.
Buffet satisfied with $5.6B NV Energy purchase
After waiting for an attractive potential haul, Warren Buffet must be satisfied with the latest acquisition agreement which was announced on the 29th of May. Warren Buffett’s MidAmerican Energy Holdings Co. is to spend whooping $5.6 billion in cash for NV Energy which is the Nevada’s company, aiming to strengthen its position in the state. Analysts are convinced that this deal might be a start of a string of acquisitions in the sector.
Chevron rather optimistic about its Australia’s LNG projects
Chevron Corp., the US’s second largest oil company, stays rather optimistic on its LNG projects located in Australia as the Gorgon LNG development is in 60 percent finished. The two projects, Gorgon and Wheatstone, poured as much as $30 billion to the local economy, not to mention that they added thousands of job positions. While the projects are smoothly progressing, the oil giant informed that it was negotiating some contracts as it aimed to sell more LNG from the Gorgon project.
“Wave Park” Shown the Green Flag by the Scottish Government
On the 23rd of May the Scottish government has given the go ahead to Edinburgh-based company Aquamarine Power to set up power generation plant in the form of “Wave Parks” which will generate electricity harnessing the inexhaustible tidal energy off the cost of the Western Isles.
Natural Gas Export Terminal lights burning Debate
Ever since the boom in natural gas, US energy prices have revised substantially, but have also sparked fears of great environmental harm. Currently, the technique used to unlock huge reserves of natural gas is called FRACKING and is widely criticized by environmentalists.
Green – the color of the future. Big Green Initiatives
It may not come as a surprise that green initiatives are being launched. This is an ultimate sign of growing understanding and developing the sense of responsibility for the future of humankind and the Earth as in fact good planets are hard to find.
Fuels of the future. Neither dream nor whim – just necessity
We are standing at this point when we just have to either find or develop the fuel of the future. The fact is that mounting concerns over climate changes push us to look for alternative fuels or just fuels of the future. The need is even bigger when we take into account the fact that all reserves of known fossil fuels are slowly running out…
BG again truly interested in exploration and LNG
It seems that BG Group Plc is ready to once again to concentrate on exploration and liquefied natural gas (LNG) as it wants to regain its investors’ favor. The company, which is the UK third largest natural gas producer, aims to engage its partners into investment as it will try to expand its operations.
Glencore Xstrata saw its copper output climb 18%
Glencore Xstrata Plc, one of the world’s biggest mining companies, informed that its saw copper output climb staggering 18 percent in the first quarter as its assets in Congo increased significantly the production. Indeed, increased copper production in Africa certainly helped the company enjoy strong first-quarter performance as it seeks ways to expand.
ArcelorMittal records loss in Q1
Surprisingly or not, ArcelorMittal S.A. informed that it recorded a net loss of around $345 million for the first quarter ended March as the giant steelmaker has been facing though market conditions, including low demand for steel. Despite the first-quarter net loss, the world’s largest steelmaker has not revised its projections for the ongoing year as it expects that steel and iron ore sales will substantially surge in the near future on growing demand from the world’s second economy. But the fact is that the company’s restructuring attempts have also brought a ray of hope while the steel markets has finally started stabilizing.
Annan group says Congo lost $1.4bn on sales of mine sales
It seems that international companies and African politicians continue to take advantage of rich mineral resources of Africa, nothing has change. Thus findings of a team headed by former UN secretary general Kofi Annan should not be surprising as thee group claims that the Democratic Republic of Congo lost as much as $1.36 billion because of contracts signed in the 2010 – 2012 period. The staggering loss was mainly caused by iniquitous mining contracts signed by the Congo government and offshore companies, not to mention that prices of these mining assets were understated.
Risk of EU – China solar panel trade war nears
The wraith of the EU – China solar panel trade war is nearing as the European Commission decided to impose provisional tariffs on Chinese solar panels as the institution seeks ways to protect the Europe-based industry. For an answer from China, the EC did not have to wait long as the Chinese government underlined that it would not allow anyone or anything to harm its solar companies. Therefore it seems that a trade war between China and the European Commission might be knocking at the door.
China demand for iron ore makes Rio Tinto more optimistic about future
At last, mining giants such as Rio Tinto Plc and BHP Billiton Ltd are more than satisfied as they enjoy strong China’s demand for iron ore. The industry leaders note that iron ore imports by the world’s second economy jumped to the highest level in four months as the country has been recently witnessing the slow revival in the steel sector. The new positive trend has encouraged Rio Tinto to continue its expansion plans as it wants to take advantage of the visible upward trend. Yet BHP Billiton Ltd and analysts as well strongly underline that in the future global iron ore supplies would grow at the faster pace than demand, hence the prices might decrease substantially.
BHP gets rid of Pinto Valley for $650m
BHP Billiton informed that it finally got rid of the Pinto Valley copper mine and a railroad in Arizona. The lucky buyer of these assets is Canada’s Capstone Mining Corp. which is to pay as much as $650 million to the global mining giant. The sale price for these assets is substantially higher than analysts’ estimates ranging from $200 million to $300 million. Interestingly, everything indicates that the BHP Billiton’s divestment operation is speeding up.
Sea – unknown mineral realm
The truth is that we need minerals to survive. Therefore, many analysts and researchers are looking for new sources of minerals.And to cut a long story short, all ideas of extraction of minerals from sea and seawater are innovative. But the most important thing is to find ways of the extraction that will not be harmful for the environment as we have only one planet to live on
Hargreaves to resume mining with new £42m backing from shares
It was out of the blue when Hargreaves Services informed that would be backed by institutional investors, to the tune of £42 million, to once begin mining in England. The difference, however, will be in the type of mining assets the company will focus on, namely the so-called SURFACE mines. Hargreaves as a logistics company for bulk materials can increase its operational capabilities by moving into surface mining segment.
