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Global research and consultancy group Wood Mackenzie has predicted that the global Carbon Capture, Utilisation and Storage (CCUS) market will surge 28-fold by 2050 to 2,061 million tonnes per annum, surpassing trillions of dollars in value. According to WoodMac, countries across the globe led by U.S., Canada and Europe have committed $80 billion for CCUS so far, with just 50 CCUS projects with a capacity to store 51 million tonnes of CO2 per year currently operational.
In the dynamic and demanding world of natural gas processing, the pursuit of efficiency is relentless. For engineers and project managers across the Texas energy landscape, the core challenge remains the same: how to maximize the recovery of valuable products, meet stringent quality specifications, and maintain cost-effectiveness. The answer often lies not in overly complex, capital-intensive machinery, but in the elegant application of fundamental thermodynamic principles.
U.S. power utilities are set to spend $212.1 billion in capex this year, which would be a 22.3% increase on the year as they race to secure new electricity supply for data centers, the Financial Times has reported, citing data from Jefferies. Compared to 10 years ago, the rise in investment stands at an impressive 129%. According to the investment bank, capex in the power utility sector in the United States will hit an all-time high in 2027, at $228.1 billion.
Crude oil prices began trading with a loss this week as traders anticipated another OPEC+ supply boost next month at a rate of 411,000 barrels per day, taking the cumulative increase this year to 1.78 million barrels daily, according to preliminary reports. At the time of writing, Brent crude was trading at $67.63 per barrel, with West Texas Intermediate at $65.23 per barrel, following Reuters reporting over the weekend that OPEC+ was going to extend its production additions in August.
Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand. Brent crude futures fell 13 cents, or 0.19%, to $67.
OPEC+ will make its August oil production decision on the fly during the upcoming July 6 meeting, Russia confirmed on Friday, suggesting there would be no pre-negotiating behind closed doors. "We'll review it during the meeting, as is traditional," Russian Deputy Prime Minister Alexander Novak told reporters, adding to market anticipation ahead of the gathering.
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Despite the Western push to diversify critical minerals supply away from China, Beijing is set to further tighten its grip on the market of key battery metal lithium. China is poised to become the world’s biggest lithium miner by next year, surpassing Australia, commodity price reporting agency Fastmarkets forecasts. China already has an outsized dominant position in the refined lithium market, where it held a 73% market share as of 2024, per data from the International Energy Agency (IEA).
(The opinions expressed here are those of the author, a columnist for Reuters) *Israel halted gas exports to Egypt after start of war with Iran *Exports were resumed on June 23, but highlight Egypt’s gas supply challenges *Egypt gas production declined sharply in recent years, unlikely to recover soon By Ron Bousso LONDON, June 30 [Read more]
SEARCH JOBS >> CREATE ACCOUNT SIGN IN Oil & Gas Jobs ▼ Search Jobs Jobs By Category Featured Employers Ideal Employer Rankings Oil & Gas News ▼ Headlines Most Popular Oil Prices Events Training Equipment SOCIAL Rigzone AI ▼ RigzoneGPT Chatbot Recruitment Job Postings & Talent Database Packages Search CV/Resumes Recruitment Dashboard Post Job FAQ | Advertise WTI Crude $65.52 +0.43% Brent Crude $67.77 +0.06% Natural Gas $3.74 +6.04% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEW
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Japan engages in “unfair” automobile trade with the United States and should increase its imports of U.S. energy resources and other goods to help reduce the U.S. trade deficit, President Donald Trump said in an interview broadcast on Sunday.
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Early in Donald Trump’s presidency, he announced his ambitions to acquire Greenland. In March, Trump said, “We need Greenland for international safety and security. We need it. We have to have it.” As well as stating ambitions to counter Russia’s presence in the Arctic, taking control of Greenland would put vast quantities of rare earth minerals and rare earth elements in the possession of the United States.
The Kremlin said in remarks published on Sunday that the tougher the sanctions imposed on Russia by Europe, the more painful the recoil would be for Europe’s own economies as Russia had grown resistant to such “illegal” sanctions.
Donald Trump has railed against modern dishwashers, washing machines, light bulbs, showerheads and toilets. He's turned his ire into a presidential edict.
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