Category: Highlights

Why isn’t wind power going gangbusters? In Europe, the energy crisis is causing solar power growth to break record after record. In the United States, the Inflation Reduction Act has provided major incentives to the renewable energy sector. For the last two weeks, the world’s preeminent energy and environmental experts have reemphasized the extreme urgency of decarbonization at COP27. And yet wind power has yet to enjoy the windfall. In fact, across Europe, major wind turbine makers are reporting massive losses and laying off swaths of employees. Just this month, Denmark-based Vestas Wind…

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As seen in data by the World Nuclear Industry Status Report, most nuclear energy programs were started in the 1970s, a fact that reflects in the age of nuclear reactors today. Despite some nuclear programs having ended (and many more scheduled for phase-out), the number of nuclear programs in the world has plateaued for many decades as some nations still take up the technology, most recently the United Arab Emirates and Belarus in 2020. Poland at the end of October announced that it is looking to start using nuclear energy…

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Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, has entered into a long-term trademark licensing agreement with Be Energy Limited (BE), marking a return of the Caltex® brand to fuels retailing in Pakistan. Chevron has appointed BE as Chevron’s licensee of the Caltex brand to sell, market and distribute fuel in Pakistan, with a view to grow the Caltex-branded service station network to over 400 retail stations within eight years across the country. Commenting on the agreement, Ahmed Zahid Zaheer, Country Chairman and General Manager of Chevron Pakistan…

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Our nation’s Strategic Petroleum Reserve (SPR) is running dangerously low. New statistics released indicate our national emergency oil stockpile, which is intended to protect the United States from unexpected and severe supply disruptions, has hit another historic low. It’s a dangerous point for the United States, and even worse, it’s self-inflicted. With these facts in mind, new reports indicate the Biden administration plans to sell oil from the Strategic Petroleum Reserve to assuage fuel prices, which was on the forefront of the mind of voters in last week’s midterm elections. According to new data released from…

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Deepwater oil and gas production is set to increase by 60% by 2030, to contribute 8% of overall upstream production, according to a new report from Wood Mackenzie, as cited by Rig Zone.  Ultra-deepwater production is set to continue growing at breakneck speed to account for half of all deepwater production by 2030. In the oil and gas exploration and production (E&P) industry, deepwater is defined as water depth greater than 1,000 feet while ultra-deepwater is defined as greater than 5,000 feet. Deepwater production remains the fastest-growing upstream oil and gas…

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