Energy

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

Refiner Phillips 66 reports lower third-quarter profit on weak fuel demand

Reuters | October 29, 2024 | Energy

Phillips 66 posted a fall in quarterly profit on Tuesday, hurt by a slump in margins due to lackluster fuel demand.

Net zero target needs $3.5 trillion in annual green energy investment, Wood Mackenzie says

Reuters | October 29, 2024 | Energy | Alternative | Green Shipping

Investment in the green energy transition needs to double to $3.5 trillion per year if the world is to meet the Paris Agreement's goal of reaching net zero emissions by 2050, a report by Wood Mackenzie said on Tuesday.

Zero carbon ammonia for shipping faces cost, safety challenges

At one of the world's biggest bulk export ports in Western Australia, shippers safely completed the first transfer of ammonia from one vessel to another last month, a key test for its adoption as a marine fuel in the push for cleaner energy.

QatarEnergy takes 50% stake in TotalEnergies solar project in Iraq

Reuters | October 28, 2024 | Energy | Alternative

Energy

AJOT | Top Story | October 28, 2024

If you can rent it, don’t buy it

Is the EPC model replacing the lease model in the FPSO sector?

PIL and SSES complete the inaugural LNG bunkering of PIL’s first LNG dual-fuel 14,000 TEU container ship

Pacific International Lines (PIL) and bunkering supplier, Shanghai SIPG Energy Service (SSES), successfully completed the inaugural Liquefied Natural Gas (LNG) bunkering of PIL’s first LNG-powered container vessel, Kota Eagle, on 26 October 2024.

Oil prices plunge 5% after limited Israeli retaliatory attack on Iran

Reuters | October 28, 2024 | Energy

Oil prices tumbled by more than $4 a barrel on Monday after Israel's retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities and did not disrupt energy supplies.

Oil slips nearly $4 a barrel after Israel shows restraint in strikes on Iran

Reuters | October 27, 2024 | Energy

Oil prices tumbled nearly $4 a barrel on Monday after Israel's retaliatory strike on Iran over the weekend bypassed Tehran's oil and nuclear infrastructure and did not disrupt energy supplies, easing geopolitical tensions in the Middle East.

NBPA expresses “grave concerns” over offshore wind area

AJOT | October 25, 2024 | Energy | Alternative

The New Bedford Port Authority (NBPA) has submitted a formal response to the Bureau of Ocean Energy Management (BOEM) regarding the recently proposed Central Atlantic 2 Call Area (Docket No. BOEM-2024-0040), raising significant concerns about its potential impact on the commercial fishing industry.

Today in Energy: U.S. shale natural gas production has declined so far in 2024

AJOT | October 24, 2024 | Energy | Alternative

U.S. natural gas production from shale and tight formations, which accounts for 79% of dry natural gas production, decreased slightly in the first nine months of 2024 compared with the same period in 2023. If this trend holds for the remainder of 2024, it would mark the first annual decrease in U.S. shale gas production since we started collecting these data in 2000.

Brownley, Schneider, Kildee introduce legislation to expand sustainable aviation fuel production and reduce carbon emissions

AJOT | October 24, 2024 | Energy | Alternative

DHL Supply Chain and Diageo partner to deploy hydrogen fuel cell trucks

AJOT | October 23, 2024 | Energy | Alternative

Nikola trucks to be the first Class 8 hydrogen fuel cell electric vehicles operated day-to-day in the state of Illinois

Shell to acquire combined-cycle power plant in priority U.S. trading market

AJOT | October 23, 2024 | Energy

This acquisition secures long-term supply and capacity offtake for Shell in the deregulated Independent System Operator New England (ISO New England) power market, where SENA has held a contract with RISEC under an energy conversion agreement for 100% of the plant’s energy offtake since 2019.

Today in Energy: Market dynamics vary at key natural gas pricing hubs

AJOT | October 23, 2024 | Energy

Pricing hubs provide transactional flexibility to buyers and sellers in the natural gas industry. The integrated North American market has close to 200 pricing hubs, which vary by size, location, type, liquidity, and age. Pricing hubs convey market information and make it easier for buyers and sellers to arrange natural gas deals in physical and financial markets across many time periods: intra-day, daily, weekly, balance-of-month, monthly, seasonally, and annually.

Tourmaline and Clean Energy open new CNG stations, advancing Western Canada’s first commercial-grade natural gas fueling corridor

AJOT | October 23, 2024 | Energy | Alternative

The expanding network of fueling stations represents a significant diesel displacement opportunity by providing a reliable source of compressed natural gas (CNG) for long-haul trucks and other fleets.

U.S. construction costs rose slightly for solar and wind, dropped for natural gas in 2022

AJOT | October 22, 2024 | Energy

The average U.S. construction costs for solar photovoltaic systems and wind turbines in 2022 were close to 2021 costs, while natural gas-fired electricity generators decreased 11%, according to our recently released data. Average construction costs for solar generators increased by 1.7% in 2022, and for wind turbines, they increased by 1.6%.

Amasus signs second contract with bound4blue for world’s largest suction sail system on a general cargo vessel

Amasus, one of Europe’s leading players in the shortsea, bulk, general cargo, offshore, and heavy lift segments, has signed a fresh eSAIL® (suction sail) contract with Spain’s bound4blue. Under the new agreement, a 22-meter unit will be retrofitted on a 90-meter, 3,000 dwt vessel at Astander Shipyard in Santander, scheduled for mid-2025. The installation will set a new benchmark as the largest suction sail system on a general cargo vessel.

Today in Energy: Gasoline prices updated

AJOT | October 22, 2024 | Energy

Updated 10/22/2024

GT Wings awarded $225,000 from the UK Department for Transport’s Smart Shipping Acceleration Fund

AJOT | October 21, 2024 | Energy | Alternative | Green Shipping

GT Wings, a pioneering UK-based wind propulsion company, is thrilled to announce the award of a £225,000 grant from the UK Department for Transport (DfT) through the Smart Shipping Acceleration Fund. This funding will propel a cutting-edge project to further develop GT’s revolutionary AirWing technology, in collaboration with the University of Bath and Carisbrooke Shipping.

BW LNG secures e-procurement deal with Procureship for global LNG fleet

AJOT | October 21, 2024 | Energy | Alternative | Maritime

Energy

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