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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.
(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
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.
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.
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.
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.
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 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
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.
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
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.
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.
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.
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.
(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.
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.
Manufacturers in PV Solar Industry Push for Price Increases, Prices Expected to Rise This Month PolysiliconThisWeek'sPrices:Thisweek,themainstreamconcludedpriceformonorechargepolysiliconisRMB34.5/KG,whilemonodensepolysiliconispricedatRMB32.0/KGan.
The total number of active drilling rigs for oil and gas in the United States slipped again this week, according to new data that Baker Hughes published on Friday, following a 8-rig decrease in the week prior. The total rig count in the US fell by 2 to 537 rigs, according to Baker Hughes, down 47 from this same time last year. The number of oil rigs fell by 1 to 424 after falling by 7 during the previous week—and down by 54 compared to this time last year.
(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.
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.
Jinko Solar Submits 1440MWh Solar-Storage Project Proposal in Australia Jinko SolarAustraliahassubmittedaproposalfora1440MWhsolar-plus-storageprojectinNewSouthWalesunderthefederalEnvironmentProtectionandBiodiversityConserv.
“There is no peak oil demand on the horizon,” OPEC Secretary General Haitham Al Ghais wrote in the foreword of OPEC’s latest World Oil Outlook (WOO), which sees global oil demand growing by about 19% from now until 2050 to reach 123 million barrels per day (bpd). In view of slowing Chinese demand growth, OPEC revised down its oil demand growth forecasts for all years between 2025 and 2029.
(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.
MDN is a blog/news site primarily focused on the Marcellus/Utica shale and related issues. Sometimes, conventional (non-shale) drilling is a related issue. Today, we have an article that discusses the fact that new conventional drilling still happens in some places in Pennsylvania—in this case, in the City of Warren (Warren County). The president of Bull.
GE Vernova said the first of three blocks of a major natural gas-fired power plant in Taiwan is now online. The company on July 7 said the first 1.3-GW unit of the Hsinta power station is operating, part of the facility's transition from burning coal to using natural gas. The post GE Vernova Brings First 1.3-GW Block of Taiwan Gas-Fired Plant Online appeared first on POWER Magazine.
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 & 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
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.
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.
India has sharply increased its crude oil imports from the United States and Brazil in the first half of 2025, marking a strategic deepening of ties with non-OPEC suppliers amid heightened global volatility and supply risk recalibrations. According to new data from S&P Global Commodity Insights cited by Indian media outlets, US crude shipments to India rose 51% year-on-year to 271,000 barrels per day between January and June, up from 180,000 bpd a year earlier.
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.
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.
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.
OPEC+ never fails to surprise speculators and market analysts. This weekend’s meeting to decide August production levels was expected to be a short routine video call to announce another output hike of 411,000 barrels per day (bpd). Short it was, but the size of the increase for August was bigger than expected— 548,000 bpd. The eight OPEC+ members that are unwinding the cuts are expected to make another supersized increase in September, with which the 2.
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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