July, 2025

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OPEC: The World Will Need an Extra 19.5 Million Bpd Refining Capacity by 2050

OilPrice

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.

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OPEC: No Peak Oil Demand. Global Oil Demand to Grow by 19.2 mb/d to 123 mb/d by 2050

Energy Outlook Advisors

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.

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AGA Report Shows Fossil Fuels Produce 87% of World Energy Supply

Marcellus Drilling News

The American Gas Association’s 2025 Energy Institute Statistical Review of World Energy was published on June 26, 2025, covering full-year 2024 data on global energy and emissions statistics. Global energy supply reached an all-time high with natural gas contributing the most incremental supply additions of any single energy source in 2024. Nearly 87% of global.

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Carney: new Canadian oil pipeline Is ‘highly likely’

Oil & Gas 360º

(Oil Price) – A new oil pipeline to Canada’s Pacific coast is highly likely to make it to the federal government’s list of projects of national interest, Canadian Prime Minister Mark Carney told Calgary Herald in an interview published this weekend. “I would think, given the scale of the economic opportunity, the resources we have, the expertise we have, that it is highly, highly likely that we will have an oil pipeline that is a proposal for one of these projects of national interest,” C

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A Transformative Dawn: South Fork Wind Leads America’s Offshore Reboot

POWER Magazine

Winning POWER’s highest honor, South Fork Wind—the first commercial-scale offshore wind farm in U.S. federal waters—stands as a beacon for the power sector’s ambition to forge new industries in the The post A Transformative Dawn: South Fork Wind Leads America’s Offshore Reboot appeared first on POWER Magazine.

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Fueling Healthcare on Chronic Disease Day 

American Gas Association

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.

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Global Carbon Emissions Reach Record High Despite Green Efforts

OilPrice

In late June the Energy Institute (EI) released the 2025 Statistical Review of World Energy, which was published previously for more than 70 years by BP. Here is the link to the full 2025 Statistical Review of World Energy. The Review confirmed that a troubling trend continues. Despite historic investments in renewables and net-zero pledges from nearly every major economy, global carbon emissions hit a record high in 2024.

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More Trending

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Aspire Energy Building New Pipeline in Ohio to Feed Power Plant

Marcellus Drilling News

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.

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Jinko Solar Submits 1440MWh Solar-Storage Project Proposal in Australia

EnergyTrend

Jinko Solar Submits 1440MWh Solar-Storage Project Proposal in Australia Jinko SolarAustraliahassubmittedaproposalfora1440MWhsolar-plus-storageprojectinNewSouthWalesunderthefederalEnvironmentProtectionandBiodiversityConserv.

Energy 147
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Renewable Energy Surges, but Grid Crisis Looms as Demand Grows and Policies Shift

POWER Magazine

The U.S. electric power sector is experiencing a surge in renewable energy deployment, yet the grid faces mounting pressure from skyrocketing demand and shifting federal policies. As data centers and The post Renewable Energy Surges, but Grid Crisis Looms as Demand Grows and Policies Shift appeared first on POWER Magazine.

Energy 204
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Fueling the American Dream

American Gas Association

AGA Newsroom True Blue Blog Where energy conversations come to life. It’s the 4 th of July! As we celebrate Independence Day, and the freedom we enjoy, energy security has been quietly supporting the American dream for decades. Today’s energy revolution has been critical in securing reliable, affordable energy, insulated from the volatility of international energy markets.

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Solar Surge Sends French Power Prices Negative

OilPrice

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.

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Top 8 Takeaways Every Trader Should Know From EVOLVE 2025

Enverus

EVOLVE 2025 brought together leading voices across energy trading, analytics and clean fuels to unpack today’s most pressing market dynamics. From evolving benchmarks to retail analytics, one thing rang loud and clear: adaptation isn’t optional, it’s strategic. We attended four of the most impactful sessions and distilled the must-know insights for traders navigating a market shaped by geopolitical shocks, credit risk, benchmark shifts and clean energy disruption.

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Marcellus/Utica May Finally Be on the Verge of Production Increase

Marcellus Drilling News

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.

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U.S. production growth to slow amid drilling decline, says EIA

Oil & Gas 360º

(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.

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OT Under Siege: Why Grid Control Systems Need a New Kind of Cyber Defense

POWER Magazine

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.

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Vienna bound ahead of OPEC seminar

Oilholics Synonymous Report

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.

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Saudi Arabia's Production Increase Sparks Credibility Concerns

OilPrice

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.

Barrel 322
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OPEC+ members agree to larger-than-expected oil production hike in August

CNBC: Energy

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Hancock County Commissioner Claims CCS Will Limit New M-U Drilling

Marcellus Drilling News

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.

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U.S. power utilities seek price hikes on AI demand

Oil & Gas 360º

(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.

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Rush Toward Another ‘Safe Harbor’ Begins for Solar Industry

POWER Magazine

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.

Energy 179
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Four-Fold Increase in OPEC+ V8 Production Ceiling in August. What is the Impact?

Energy Outlook Advisors

The OPEC+ group of eight, the V8, which made voluntary cuts and began unwinding them in April, met virtually today and decided to raise the production ceiling by 548 kb/d in August, four times the initial increase planned last December. This exceeded market expectations, including ours, of 411 kb/d. Here is an excerpt from the press release “ In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with

Barrel 177
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OPEC+ Surprises With Oversized Output Hike

OilPrice

OPEC+ will ramp up oil production more aggressively than anticipated in August, accelerating the rollback of its 2023 voluntary supply cuts in a bid to capture market share amid peak summer demand. At a virtual meeting Saturday, eight core members led by Saudi Arabia agreed to add 548,000 barrels per day (bpd) to global supply—exceeding earlier expectations of a 411,000 bpd hike.

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Manufacturers in PV Solar Industry Push for Price Increases, Prices Expected to Rise This Month

EnergyTrend

Manufacturers in PV Solar Industry Push for Price Increases, Prices Expected to Rise This Month PolysiliconThisWeek'sPrices:Thisweek,themainstreamconcludedpriceformonorechargepolysiliconisRMB34.5/KG,whilemonodensepolysiliconispricedatRMB32.0/KGan.

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NJ Marcellus-Fired Red Oak Power Plant Sold to Investment Firm

Marcellus Drilling News

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.

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Mach Natural Resources LP Announces Transformative Acquisitions in the Permian Basin and San Juan Basin

Oil & Gas 360º

(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

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Westinghouse, Radiant Selected for First Fueled Nuclear Microreactor Tests at INL’s DOME Facility

POWER Magazine

Nuclear microreactors developed separately by Westinghouse and Radiant are poised to become the first fueled designs tested at the Demonstration of Microreactor Experiments (DOME) facility—the world’s first dedicated microreactor test bed slated to open at Idaho National Laboratory (INL) in early 2026. The first fueled experiment is expected to begin as early as spring 2026. […] The post Westinghouse, Radiant Selected for First Fueled Nuclear Microreactor Tests at INL’s DOME Facility appea

Energy 162
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Exxon Makes ‘Significant’ Cyprus Gas Find, Wraps East Med Drilling Campaign

Mees

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.

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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. The group reported a decline in OPEC and partner production while non-OPEC oil producers boosted output last year, in line with analyst predictions and relatively healthy oil prices.

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Romania Abolishes Double Taxation on Energy Storage, Accelerating 5GW Electro-Storage Capacity Deployment

EnergyTrend

Romania Abolishes Double Taxation on Energy Storage, Accelerating 5GW Electro-Storage Capacity Deployment OnJuly8th,Romania'sEnergyRegulatoryAuthority(ANRE)officiallyapprovednewregulationsabolishingdoubletaxationonbatteryenergystoragesystems(BESS).Themovea.

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Natural Gas Price Breakdown – Heading Back into $2 Territory?

Marcellus Drilling News

The NYMEX “front month” futures contract for natural gas (August contract) slid lower yesterday for a second day in a row. The price dropped 12.6 cents per million British thermal units (MMBtus), or nearly 4%, to $3.214 yesterday. The price was down 19.8 cents (nearly 6%) over the past two days. According to one analyst.

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World oil market may be tighter than it looks, IEA says

Oil & Gas 360º

(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.

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UK’s Largest Solar Park Enters Commercial Operation

POWER Magazine

A global energy infrastructure management group said one of its solar-plus-storage projects in the UK is now online. Quinbrook Infrastructure Partners on July 1 said the 373-MW Cleve Hill Solar Park has started commercial operation, and represents the largest solar power and energy storage installation built to date in the UK. Quinbrook on Tuesday said […] The post UK’s Largest Solar Park Enters Commercial Operation appeared first on POWER Magazine.

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Petronas ships its first LNG cargo to Japan from its new facility in Canada

BOE Report

Malaysia’s state energy firm Petronas on Monday said it has successfully shipped its first liquefied natural gas (LNG) cargo to Japan from its newly operational LNG facility in Kitimat, Canada. Petronas has a 25% stake in the Kitimat LNG plant in British Columbia on Canada’s west coast.

IT 122
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Big Oil Braces for Oil Price Hit

OilPrice

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.

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400MW/1.6GWh! Another Large-Scale Energy Storage Power Station Commences Construction

EnergyTrend

400MW/1.6GWh! Another Large-Scale Energy Storage Power Station Commences Construction OnJuly6th,agrandeventinthefieldofgreenenergytookplaceinFanzhiCounty,XinzhouCity,ShanxiProvince—thecommencementofconstructionforthe400MW/1600MWhindepen.

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