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The world will need as much as 19.5 million barrels per day (bpd) of new refining capacity by 2050 to meet rising global oil demand, OPEC said in its 2025 World Oil Outlook (WOO) with forecasts through the middle of the century. Overall, OPEC expects global oil demand to continue rising by 2050, with global oil demand projected to increase by more than 19 million bpd between 2024 and 2050, reaching nearly 123 million bpd.
OPEC released its 2025 World Oil Outlook 2050 yesterday at the OPEC Seminar 2025. The Outlook covers all energy industry segments, but here we focus solely on oil demand and supply. OPEC Global Oil Demand to Grow by 19.2 mb/d by 2050 Subscribe now Summary OPEC launched its World Oil Outlook 2050 yesterday during the OPEC Seminar 2025. Figure 1 is the most critical chart in the Outlook for the oil market.
Chesapeake Utilities Corporation, not to be confused with the former Chesapeake Energy Corporation (which is now Expand Energy), announced that its Ohio subsidiary, Aspire Energy Express, LLC, has entered into an agreement with American Electric Power (AEP) to construct and operate an intrastate natural gas pipeline in central Ohio to feed Marcellus/Utica gas to a.
The Public Utilities Commission of Ohio (PUCO) has approved a landmark tariff structure requiring large new data center customers to pay for a minimum of 85% of their subscribed electricity usage—regardless of actual consumption—for up to 12 years. The measure marks a pivotal step in Ohio’s efforts to address surging demand from hyperscale data centers […] The post Regulator Approves AEP Ohio’s Landmark Data Center Tariff appeared first on POWER Magazine.
AGA Newsroom True Blue Blog Where energy conversations come to life. July 10 th is Chronic Disease Day, and roughly one in six Americans will be affected by chronic disease at some point in their life. According to the CDC, chronic diseases are defined broadly as conditions that last one year or more and require ongoing medical attention or limit activities of daily living or both.
After two years of playing the role of OPEC+ model citizen, Saudi Arabia has decided it’s time to loosen the tie—at least according to the IEA. According to the International Energy Agency, the Kingdom overshot its June production quota by a whopping 700,000 barrels per day, pumping 9.8 million bpd—the highest in two years. OPEC's official production figures are due Tuesday, and some analysts have already suggested they’ll show near-perfect compliance.
The EU natural gas market in late 2025 is expected to face tight supply due to lost Russian pipeline gas, low storage, LNG competition from Asia, and possibly higher gas demand that expected if renewables do not deliver. Prices are expected to increase, potentially exceeding €45/MWh under certain scenarios, especially if hurricanes disrupt LNG shipments from the Gulf of America Share Strong injection demand persisted across Europe in June, as storage operators accelerated refill efforts fo
A month ago, MDN published a post predicting that Marcellus/Utica natural gas production is set to grow thanks to new pipeline projects and demand from data centers and LNG exporters (see Marcellus/Utica Set to Grow Thanks to LNG, Data Centers, Southeast). Today, we shift the focus from customers to what drillers are saying (predicting) about.
A month ago, MDN published a post predicting that Marcellus/Utica natural gas production is set to grow thanks to new pipeline projects and demand from data centers and LNG exporters (see Marcellus/Utica Set to Grow Thanks to LNG, Data Centers, Southeast). Today, we shift the focus from customers to what drillers are saying (predicting) about.
It’s no secret the solar industry has been stockpiling components such as panels and racking since before the Inflation Reduction Act. Under threat of a shortened runway to qualify for credits recently made reality with the passage of the reconciliation bill, the trend has very definitely accelerated. The post Rush Toward Another ‘Safe Harbor’ Begins for Solar Industry appeared first on POWER Magazine.
Oil rose last week and is quiet today, more sanctions around. Today PetroTal report another set of cracking operational numbers from the Bretana field whilst Touchstone report from the newly acquired Central Block. Jadestone have results from the Skua-11ST well which are slightly mixed but overall positive and both Sound and Seascape update on IR. The post Oil price, PetroTal, Touchstone, Jadestone, Sound, Seascape.
France’s solar power generation hit a new record this week, sending intraday electricity prices into negative territory for several hours—a stark reminder of the volatility created by rapid swings in renewable output. At 2 p.m. Thursday, French solar output surged to 19.5 gigawatts, meeting nearly 40% of national demand, according to grid operator RTE.
In a recent op-ed, a county commissioner from Hancock County, West Virginia, warned residents against signing a lease with Tenaska to allow the company to use their land to store carbon dioxide (CO2) as part of the company’s Tri-State CCS Hub project. CCS stands for carbon capture and sequestration. According to the commissioner, storing CO2.
At a remote substation in the Midwest, I watched recently as a team of cybersecurity specialists gathered not to fix a breach but to simulate one. The substation—a medium-impact test site built by one of the nation’s largest utilities—has become a proving ground for the future of grid security. Before the North American Electric Reliability […] The post OT Under Siege: Why Grid Control Systems Need a New Kind of Cyber Defense appeared first on POWER Magazine.
After the latest OPEC meeting follows the producers' group's seminar - its invitation to the great and the good of the energy world held once every two years in Vienna. As the Oilholic heads out there for a business trip, while sitting and musing at London's Heathrow airport before the flight, one cannot but help notice that oil benchmarks are on the up.
Crude oil markets have turned out to be tighter than most analysts appeared to expect, and are ready to absorb OPEC+’s higher-than-forecast supply boost next month. For proof, look no further than oil prices after the latest OPEC+ announcement that took traders and analysts by surprise. On Monday, after OPEC+ said it would add more than half a million barrels daily to its combined output, Brent crude was trading at around $68 per barrel.
(World Oil) – The U.S. sees domestic crude output growth slowing more than expected this year as choppy oil prices limit drilling activity. U.S. crude output is now expected to grow by 160,000 bpd this year to 13.37 million bpd and remain flat in 2026, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday.
Gas-fired power plants, both brand new and existing plants, are hot properties these days. We’ve covered several recent sales of existing gas-fired power plants in the Marcellus/Utica region (and beyond). Here’s another one: investment firm Strategic Value Partners, LLC (SVP) announced yesterday that it’s acquiring Red Oak Power, an 831-megawatt natural gas-fired combined-cycle generation facility.
Recurrent Energy, a subsidiary of Canadian Solar, and a global developer, owner, and operator of solar and energy storage assets, on July 7 announced that the 1,200-MWh Papago Storage facility in Maricopa County, Arizona, has reached commercial operation. The project is now dispatching stored energy to Arizona Public Service (APS), the state’s largest electric utility, […] The post Recurrent Energy Brings Major Arizona Energy Storage Project Online appeared first on POWER Magazine.
Manufacturers in PV Solar Industry Push for Price Increases, Prices Expected to Rise This Month PolysiliconThisWeek'sPrices:Thisweek,themainstreamconcludedpriceformonorechargepolysiliconisRMB34.5/KG,whilemonodensepolysiliconispricedatRMB32.0/KGan.
Earlier this week, Shell warned its second-quarter earnings would be weaker due to lower trade in gas and oil derivatives. Now, Exxon has joined its peer in the warning series, saying weaker oil and gas prices during the second quarter would affect its financial results, and rather substantially, at that. Big Oil is having a difficult moment. The question is whether it would extend in time.
(Oil Price) – Power utilities in the United States have applied for permission to raise electricity prices, with a demand surge from AI data centers suggested as the reason, the Financial Times reported today, citing data from PowerLines, an energy affordability advocacy. In the first half of this year, U.S. power utilities applied for price hikes of a total $29 billion, the FT said, adding this represented a 142% increase on the first half of 2024.
In early April, MDN brought you the exciting news that THE largest gas-fired power plant in the country, along with a MASSIVE data center complex, will be built at a former coal-fired power plant site in Indiana County, PA (see Largest Gas-Fired Power Plant in the U.S. Coming in Western Pa.). The site will be.
As the backbone of modern energy systems, smart grids and digital substations promise efficiency and sustainability—but they also open the door to escalating cyberthreats. This article dives into a layered cybersecurity strategy that blends integrated vulnerability assessments, robust protocols, and defense-in-depth tactics. Packed with practical insights and a look at breakthrough technologies, it empowers utilities […] The post Securing the Power Grid: Cybersecurity Strategies for Smart
Romania Abolishes Double Taxation on Energy Storage, Accelerating 5GW Electro-Storage Capacity Deployment OnJuly8th,Romania'sEnergyRegulatoryAuthority(ANRE)officiallyapprovednewregulationsabolishingdoubletaxationonbatteryenergystoragesystems(BESS).Themovea.
The Middle East is on track to surpass Asia to become the world’s second-largest gas producer in 2025, ranking only behind North America, according to Rystad Energy research and analysis. 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.
(Oil & Gas 360) – Publisher’s Note: Mach Natural Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Register to attend. OKLAHOMA CITY–(BUSINESS WIRE)– Mach Natural Resources LP (NYSE: MNR) (“Mach” or the “Company”) today announced it has entered into two separate definitive agreements: one to acquire certain oil and gas assets from Sabinal Energy, LLC (“Sabinal”), and another to acqu
OTHER U.S. REGIONS: US proposes rules that could boost oil, gas output in US West; Elon Musk confirms buying overseas power plant, shipping it to Memphis for xAI; LNG boom hits a snag in Louisiana’s crowded waterways; NATIONAL: Dallas Fed energy survey shows oil, gas activity contraction; Imports made up 17% of U.S. energy supply.
Kansas regulators have given Evergy the go-ahead to raise the utility's rates to help finance construction of two new natural gas-fired power plants, along with a utility-scale solar power project, in the state. The post Kansas Regulators Back Plan for Two New Gas-Fired Plants, Along With Solar Farm appeared first on POWER Magazine.
Exxon wrapped up its three-well East Med drilling campaign this week with the ‘significant’ Pegasus discovery offshore Cyprus. Nicosia and Exxon remain cautious about the discovery, but MEES understands reserves could be as high as 5tcf.
The world needs $18.2 trillion in oil and gas investments through 2050 to ensure energy supply by the middle of the century, OPEC Secretary General Haitham Al Ghais has told Energy Connects in an exclusive interview. Oil demand is set to continue rising through 2050, with consumption expected at 123 million barrels per day (bpd) then, up from about 104 million bpd this year, according to OPEC’s annual World Oil Outlook (WOO) released last week.
(Investing) – VIENNA -The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast.
A pipeline court case to celebrate (we take our victories where we can find them). Washington Gas Light Company (WGL) seeks to install a 24-inch-diameter high-pressure natural gas pipeline through the Pimmit Hills neighborhood in Fairfax County, Virginia. Fairfax County is a suburb of Washington, D.C. The County Zoning Board of Appeals claimed the project.
Energy solutions provider Ameresco announced a partnership with Alaska’s Juneau Hydropower to develop, build, and operate a 19.8-MW hydropower station at Sweetheart Lake. The facility is located 33 miles south of downtown Juneau. The project also includes installation of a battery energy storage system (BESS) and more than 40 miles of high-voltage transmission infrastructure.
400MW/1.6GWh! Another Large-Scale Energy Storage Power Station Commences Construction OnJuly6th,agrandeventinthefieldofgreenenergytookplaceinFanzhiCounty,XinzhouCity,ShanxiProvince—thecommencementofconstructionforthe400MW/1600MWhindepen.
China accounts for as much as 74% of all wind and solar projects currently under construction, Global Energy Monitor said in a new report, as cited by the Financial Times. The country that is already home to the most sizable wind and solar generation capacity in the world, is in the process of building 510 GW more in utility-scale solar and wind capacity, the climate NGO said.
(Oil Price) – Azule Energy, a joint venture of international majors BP and Eni, has discovered a major natural gas reservoir offshore Angola in the first gas-targeting exploration well in the oil-producing country. Azule Energy, the operator of Block 1/14, has announced a gas discovery at the Gajajeira-01 exploration well, located in the Lower Congo Basin in Angola’s waters.
OTHER U.S. REGIONS: New York has got to face reality – we need natural gas; NATIONAL: TC Energy is bolstering America’s energy dominance through critical investments; Geothermal energy may be poised for growth thanks to shale drilling advances; Why is every natural disaster being politicized?; How AI and technology are reshaping the oil and gas.
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