Energy

Energy industry news - solar, wind, hydroelectric, natural gas, petroleum.

Global foreign investments: Diverging trends amid global challenges

AJOT | January 21, 2025 | Energy | Logistics

In 2024, global FDI rose 11% to an estimated $1.4 trillion but dipped by 8% when excluding flows through European conduit economies – which often serve as transfer points for investments before they reach their final destination – reflecting a world grappling with shifting economic dynamics and persistent uncertainties.

Energy

AJOT | Top Story | January 21, 2025

EIA forecasts lower oil price in 2025 amid significant market uncertainties

We forecast benchmark Brent crude oil prices will fall from an average of $81 per barrel (b) in 2024 to $74/b in 2025 and $66/b in 2026, as strong global growth in production of petroleum and other liquids and slower demand growth put downward pressure on prices and help offset heightened geopolitical risks and voluntary production restraint from OPEC+ members.

Energy

AJOT | Top Story | January 21, 2025

Envana secures grant for $5.2M DOE Methane Mitigation Technology Project

“Envana Software Solutions” (Envana) has been awarded a $4.2 million grant by the “U.S. Department of Energy” (DOE) to advance oil and gas methane monitoring and mitigation technologies. The funding is part of the DOE’s Methane Emissions Reduction Program under “Funding Opportunity Announcement” (FOA) 3256: Methane Emissions Reduction Program Oil and Gas Methane Monitoring and Mitigation.

Chevron expresses interest for hydorcarbons’ exploration in Greece, energy ministry says

Reuters | January 20, 2025 | Energy

U.S. oil producer Chevron has expressed insterest in exploring for hydrocarbons southwest of the Peloponnese peninsula in Greece, the Greek energy ministry said in a statement on Monday.

Biden administration moves to protect more of Alaska refuge from drilling

Reuters | January 17, 2025 | Energy

Oil set for fourth week of gains as investors assess US sanctions impact

Reuters | January 17, 2025 | Energy

Vistra’s battery storage facility goes up in flames, spurs evacuation orders

Reuters | January 17, 2025 | Energy | International Trade

One of the world's largest battery storage facilities is being consumed by flames near San Francisco on Friday, and officials say the best solution is to let the factory continue to burn

Today in Energy: A look back at our forecast for global crude oil prices in 2024

AJOT | January 17, 2025 | Energy

Benchmark Brent crude oil prices averaged $81 per barrel (b) in 2024, in line with the $82/b for the year that we had forecast in our January 2024 Short-Term Energy Outlook (STEO) and more in-depth analysis. In the January 2024 STEO, we forecast that markets would be relatively balanced in 2024, changing little from the 2023 average Brent price of $82/b.