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(World Oil) – The methane intensity of oil and gas production in the Permian basin—an area responsible for half of U.S. oil production and one fifth of natural gas—declined by more than 50% during the 2022-2024 period as improved operations, better equipment and the utilization of AI and other advanced technologies led to reductions across all observable plume rates (large and small), according to a new analysis by S&P Global Commodity Insights.
PetroChina has quietly approved a multi-billion-dollar refinery and petrochemical complex in northeast China’s Dalian, marking a strategic shift amid declining fuel demand and growing petrochemical appetite. The final investment decision has been made, according to multiple sources, but it has not yet been formally announced. The new facility, to be built on Changxing Island, will feature a 200,000 bpd crude refinery and a 1.4 million ton-per-year ethylene unit, alongside polyethylene, polypropy
China has started construction of what would be the world’s largest hydropower dam. Chinese Premier Li Qiang on July 19 led a ceremony marking groundbreaking for the Motuo Hydropower Station, a project with an estimated cost of $167 billion that could generate as much as three times the electricity of the 22.5-GW Three Gorges project. […] The post China Breaks Ground for World’s Largest Hydropower Station appeared first on POWER Magazine.
Energy services firms Saipem and Subsea7 have signed a binding merger agreement to create a leading energy services company under the name of Saipem7, which will…
The One Big Beautiful Bill Act (OBBBA) has changed the game for renewable energy developers. With fewer subsidies to fall back on, developers are being pushed to rethink where and how they build projects. It’s no longer about chasing tax credits, it’s about finding the projects that can stand on their own two feet. Here are five of the biggest shifts developers should have on their radar when building their pipeline and project strategy post-OBBBA. 1.
(World Oil) – TotalEnergies has announced the start of production from the BEGONIA and CLOV Phase 3 offshore Angola projects, which together will add a total of 60,000 bpd of new production. The two subsea tie-back projects will deliver additional production leveraging available capacity on existing FPSOs, TotalEnergies stated, citing added benefits of low marginal costs and low carbon intensities.
The UK government has raised the maximum prices it is willing to guarantee developers of wind power projects in a bid to reinvigorate investment in renewable energy and keep its ambitious decarbonization targets on track. The increase, announced on July 23rd, underscores the challenges faced by clean energy developers contending with inflation, rising interest rates, and strained supply chains.
The past few years have brought decades worth of change to electric utilities. An increasing fraction of supply is coming from intermittent sources like solar and wind. Energy storage technology has become economically viable and has seen widespread deployment. And the industry as a whole is grappling with what seems like insatiable new demand from […] The post At a Time of Accelerating Change, Utilities Need to Build Flexibility into Their Strategy for Load Growth appeared first on POWER
The past few years have brought decades worth of change to electric utilities. An increasing fraction of supply is coming from intermittent sources like solar and wind. Energy storage technology has become economically viable and has seen widespread deployment. And the industry as a whole is grappling with what seems like insatiable new demand from […] The post At a Time of Accelerating Change, Utilities Need to Build Flexibility into Their Strategy for Load Growth appeared first on POWER
Global energy technology company SLB has been awarded a technologies and services contract for carbon storage site development in the North Sea by the Northern Endurance Partnership (NEP)…
Kinder Morgan Inc. (KMI) delivered a strong second-quarter performance, reporting a 24% increase in net profit as natural gas demand continues to drive growth across its pipeline and infrastructure business. The company posted $4.04 billion in revenue for Q2, representing a 13.2% year-over-year increase , and beating MarketBeat’s consensus by 550 basis points.
(World Oil) – Global supply of liquefied natural gas is set to surge the most since 2019 next year, primarily driven by production additions in North America, the International Energy Agency said. The increase in supply will accelerate to 7%, or 40 billion cubic meters a year in 2026, following a 5.5% expansion this year, the IEA said in its quarterly gas market report.
The U.S. Nuclear Regulatory Commission on Thursday granted multiple licensing and regulatory approvals necessary for the 800-MW Palisades nuclear plant in Michigan to restart operations later this year. Palisades is now authorized to receive new fuel and formally transition licensed reactor operators to on-shift status, Holtec International said in a statement.
As renewable energy becomes the foundation of electricity systems around the world, the importance of stationary battery storage is no longer in question. Lithium-ion batteries are being deployed at unprecedented rates to support grid reliability, integrate variable generation, defer infrastructure upgrades, and provide flexible capacity across multiple electricity markets.
The Scottish Government has granted joint venture partnership between Ørsted, Simply Blue Group and Subsea7, the developers of Salamander floating offshore wind farm…
(Oil Price) – PJM Interconnection, the operator of the largest U.S. electric grid, has issued a maximum generation alert and load management alert for July 24 due to expected high peak load demand amid a heat wave. PJM Interconnection, whose area covers 13 mid-Atlantic and Midwest states and the District of Columbia, said that the alert does not require any action from customers.
Shares of U.S. LNG producers jumped in early trading Monday after the European Union agreed to dramatically increase its energy imports from the United States, pledging $250 billion in annual purchases under a new transatlantic trade framework. The move includes LNG, oil, and nuclear energy and was announced in Brussels earlier today. Cheniere Energy, NextDecade, and Venture Global were among the biggest pre-market gainers, with some stocks rising as much as 8.8% before the U.S. market opened.
A combined $92 billion in energy and artificial intelligence (AI)-related investments were announced across Pennsylvania last week, with projects ranging from new data centers to natural gas plants and grid modernization efforts. The initiatives could mark a transformative step for both the state, which is emerging as a national tech powerhouse, and the U.S. as leader in the next era of digital infrastructure.
Corpus Christi’s recent ship channel improvement project deepened the channel to 54 feet from 47 feet and widened it to 530 feet in most places. That enables more efficient transport of crude oil, LNG and other commodities, including ship traffic by very large crude carriers. And it attracted three major pipelines from Permian Basin so that the Port of Corpus Christi became the largest energy exporter in the U.S. and the third largest in the world.
Mirion Technologies, a leading provider of advanced radiation safety solutions, has announced the launch of the Vital Platform. This software offers a single, unified system for accessing data across nuclear power sites to work more efficiently, enhance worker safety, and solve operational challenges faster. The launch includes the platform’s first application, Vital Supervision, designed to […] The post Mirion Technologies Launches Vital Platform for Nuclear Industry appeared first on POW
(Oil Price) – Demand for electricity from data centers handling AI technology drove the price of the largest electricity auction in the United States to a new record, exceeding last year’s all-time high by 22%. Organized by PJM Interconnection, the capacity auction covers 20% of American consumers and aims to ensure that there is enough generation to respond to spikes in demand, averting blackouts.
Shell has taken a final investment decision (FID) on the development of the Mina West offshore gas field in Egypt’s Mediterranean waters, a move aimed at alleviating the country’s widening domestic supply gap and reinforcing its integrated gas strategy. The announcement, made jointly with Kuwait Foreign Petroleum Exploration Company (KUFPEC), comes as Egypt struggles with LNG import dependence and declining output from legacy fields.
Have you ever wanted to instantly move, add or delete structures in your solar designs and get real-time data about how those adjustments affect your DC output? Do you wish you could reposition roads and electrical routes or play with distances between elements to find the most effective configuration? Do you want to create smart and bankable plans fast and accurately?
(Corrects currency figures to C$ throughout, and removes operating expenses figure in key details) Overview * Surge Energy Q2 production averaged 23,589 boepd * Co reports Q2 net income C$31.91 mln * Company raises average 2025 production guidance to 23,000 boepd, cuts capex by $15 mln * Q2 adjusted funds flow at C$72.
CorPower Ocean has secured a grant from the EU Innovation Fund to support the development of VianaWave, a pre-commercial 10MW wave energy farm to be deployed off the coast of northern Portugal…
(Oil Price) – Investments in fusion technology have jumped by $2.6 billion in the year to July, the most since 2022, the Fusion Industry Association said in a new report on Tuesday, noting that the growth in funding for fusion energy companies “is the most striking indicator of the industry’s accelerating trajectory.” The association’s report showed that total funding for fusion efforts has exceeded $9.7 billion since 2021, with more than $2.6 billion raised in the last year alone.
Electricity generation in the United States hit a record high in the first half of the year, as power demand is growing with data center expansion. Electricity provided by utilities in the U.S. rose by 4% in January to June, to an all-time high of 2,188 terawatt hours (TWh) for the period, according to data from clean energy think tank Ember cited by Reuters columnist Gavin Maguire.
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Shares of U.S. liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade, Venture Global, and Cheniere Energy jumped between 7% and 8.
TotalEnergies has started production from the BEGONIA and CLOV Phase 3 projects, adding a total of 60,000 barrels per day of production offshore Angola.
Oil & Gas 360 – CALGARY, AB , July 22, 2025 /CNW/ – Enbridge Inc. (Enbridge or the Company) announced that it has reached a final investment decision on Clear Fork, a 600 MW solar project in Texas. Clear Fork will be a utility scale solar facility located near San Antonio , with 600 MW of capacity. Construction is underway, and the facility is expected to enter in service during the summer of 2027.
Kazakhstan has unveiled an ambitious new energy strategy that will triple its petroleum product exports by 2040, with refined fuel volumes set to hit 39 million tons per year, up from 17 million now, with export share rising to 30% of total output. The sweeping 2025-2040 plan marks a sharp departure from previous government policy, which capped fuel exports at just 10% under a 2024 draft framework.
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By John Lee. The Ministry of Oil has signed a contract with US-based Schlumberger to increase natural gas production at the Akkas gas field in Anbar province. Speaking at the signing ceremony, Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, described the project as a major milestone in Iraq's gas development strategy.
July 28, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. We are committed to sharing the insights and knowledge that our team gathers to help you stay ahead in this dynamic sector. From mergers and acquisitions to regulatory changes and technological advancements, we cover all the key developments that impact the industry.
Offshore Energies UK has today responded to the news that the Department for Energy Security & Net Zero (DESNZ) has increased the strike price caps and extended the duration for wind technologies in the upcoming Allocation Round 7 (AR7) Contracts for Difference (CfD) round. The government has designed CfDs to encourage investment in renewable energy projects, particularly offshore wind farms.
Investments in fusion technology have jumped by $2.6 billion in the year to July, the most since 2022, the Fusion Industry Association said in a new report on Tuesday, noting that the growth in funding for fusion energy companies “is the most striking indicator of the industry’s accelerating trajectory.” The association’s report showed that total funding for fusion efforts has exceeded $9.7 billion since 2021, with more than $2.6 billion raised in the last year alone.
Data center demands are shifting rapidly in today’s energy landscape. A customer that signed on for 10 MW just months ago may now be requesting 40. For energy suppliers across the country, scenarios like this are becoming the new normal as artificial intelligence (AI) infrastructure accelerates load growth and turns predictable load patterns into risky […] The post Smart Strategies for Energy Suppliers in the Data Center Boom appeared first on POWER Magazine.
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