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.
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.
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…
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.
If one thinks that renewable energy is the future, then s/he can be surprised with a new decision made by BP Plc. Surprising or not, BP Plc has informed that it wants to get rid of its US wind arm. The sale of the US wind farm assets will close a chapter in the BP’s history of involvement in renewable energy which is also named the fuel of the future. The company intends to fully focus on its oil and gas projects as they are most profitable.
Exxon Mobil Corp. is incessantly continuing its attempts to clean up mess caused by the Arkansas oil spill. Another oil spill adds to concerns over the safety of pipeline systems and their conservation. But the Arkansas oil spill has also led to the beginning of a debate on the pipeline sector and the safety in general, not to mention the prospects of the Keystone XL project as well.
Everything indicates that BP Plc will have to dive into its pocket to cover all demands related to the Deepwater Horizon oil spill. On the 25th of February, the Gulf oil spill trial began. It is strongly believed that BP Plc, Transocean Ltd and Halliburton Corp. will have to play hard if they do not want to pay so much.
On the 31st of January, Royal Dutch Shell PLC informed that it saw a 13 percent jump in profit for the fourth quarter. As it was underlined by the Europe’s biggest energy company, increased costs in both exploration and output were balanced by high refining margins. However the profit for the final fiscal quarter did not meet with analysts’ estimates due to weaker prices in North America.
At last! The UK Green Deal energy efficiency scheme is due to be entirely launched on the 28th of January. The green initiative has been strongly backed by Nick Clegg, the Deputy Prime Minister, and Ed Davey, the Energy Secretary. According to the scheme, Britons will be able to borrow money to pay for energy efficiency improvements so that they can go green and save money in the future. However, the industry has welcomed the launch of Green Deal with mixed feelings.
According to a Deloitte’s study published on the 18th of January, over 90 percent of the North Sea developments in 2012 were granted tax relief. Tax breaks, which have been recently introduced, are expected to encourage investors to engage more in the North Sea, the well-known oil province.
The Obama administration wants the U.S. offshore wind industry to flourish. As it reposes hope in renewable sources of energy, it decided to award $28 million in grants to seven projects. Those projects are aimed at developing different kinds of power-generation technologies.
On the 28th of November, the Green Investment Bank (GIB) is due to be officially opened by the Business Secretary Vince Cable. The Green Investment Bank, which will be entirely dedicated to green projects, is funded with £3 billion of UK government’s money. The official launch of the new bank is to take place in Edinburgh. The Business Secretary Vince Cable is expected to announce two green projects which will be supported by the first green bank in the world.
Four Nigerian farmers decided to sue Royal Dutch Shell before a Dutch court over Nigeria spill case. Shell is accused of three oil spills in the Niger Delta which led to loss of livelihoods of fisherman and farmers from the area. The case could set a precedent for damage claims against international companies and their global environment responsibility.
UK industry leaders believe that ministers should set a specific target for restricting carbon emissions from power generation. More than 50 businesses, including so well-known names such as Asda, Sky, PepsiCo, Microsoft, Marks and Spencer, have signed the letter to Chancellor George Osborne, in which they encourage the government to set a 2030 target on decarbonising the power sector in the UK. Moreover industry leaders have also warned Chancellor George Osborne that mixed signals on green energy policy might weaken investment in renewable energy in the UK.
A Chinese company specializing in auto parts production is to rescue U.S. battery maker A123 Systems, a recipient of a quarter-billion dollar green technology grant from the Obama administration. The Chinese company, China’s Wanxiang Group Corp., wants to obtain a controlling stake in the U.S. battery maker A123 Systems.
On Tuesday millions of people all over India had to go without power as one of the worst blackouts the world has ever seen hit the country, trapping people working in mines, stranding hundreds of railway passengers and plunging entire hospital buildings into complete darkness when power grids broke down for the second consecutive time in just two days.
Marelli Motori says the time and energy it has invested in the African market in the last few years is starting to pay off. The global Italian generator giant’s regional manager for Africa, Dean Pratt: “During the past three years we have invested a lot of time and energy in growing the Marelli [...]
With developing alternative sources of energy having become a top priority globally, especially with nuclear technology being looked at increasingly skeptically after the Japan disaster, we spoke to Ms. Elizabeth Dipuo Peters, the Energy Minister of South Africa, to find out where she thinks the future of South Africa’s Energy sector lies. Ms. Elizabeth Dipuo Peters [...]
After unveiling the revolutionary Concept Plane design last year, Airbus, the global leader in aircraft manufacturing, has come out with the Airbus Concept Cabin – a plane that demonstrates what the experience of flying will be like for passengers in 2050. The Airbus Concept Cabin will offer personalized zones instead of the traditional cabin classes [...]