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U.S. Utility-Scale Battery Storage Has Surged 15-Fold Since 2020

OilPrice

For years, battery systems have only played a marginal role in U.S. electricity networks, with power utilities focusing more on building out capacity from natural gas plants and renewable energy sources.

Utilities 273
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Middle East Gas Exports Soar to Meet Global Demand

OilPrice

Gas production in the Middle East has grown by about 15% since 2020, and the future growth underscores the determination of regional producers to monetize gas reserves and develop export potential to meet global demand.

Gas 303
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OPEC Reports a Global Oil Production Decline in 2024

OilPrice

Global crude oil production declined by 1% last year, for the first time since 2020, averaging 72.58 million barrels daily, OPEC said in the latest edition of its Annual Statistical Bulletin.

Oil 323
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China Leads the World in AI Energy Innovation

OilPrice

As early as 2020, the Chinese state-owned natural gas giant Gas Holdings Ltd. From managing energy storage to more accurately forecasting energy supply and demand, large language models can make the whole sector smarter, by streamlining energy systems and minimizing waste.

Energy 269
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Critical Minerals Fuel Geopolitical Competition

OilPrice

The United States Energy Act of 2020 provided an operational definition of ‘critical minerals’ as those that are: essential… While not all of these ‘critical’ materials are rare, they are not naturally available everywhere in the world, leading to potential geopolitical minefields as competition over these supply chains heats up.

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India’s Power Pivot as Coal Cracks and Renewables Surge

OilPrice

Despite the lowest coal prices in Asia in four years, India’s coal power generation dipped in May to the lowest since the Covid lockdowns of 2020, as a lack of heatwaves and soaring renewable energy installations and generation pushed down coal demand in the electricity sector.

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U.S. Sanctions Target Iran’s Oil Smuggling Network

OilPrice

The sanctions hit a smuggling network run by Iraqi businessman Salim Ahmed Said, who the Treasury says has been disguising Iranian oil as Iraqi crude since 2020—generating billions in revenue for Tehran. Several vessels were also sanctioned for aiding the operation, part of what the U.S.…

Oil 309