July 25 (Reuters) – PetroChina (601857.SS), opens new tab has made the final investment decision to build a new multi-billion-dollar refinery and petrochemical complex in northeast China’s Dalian, following recent closure of a nearby old plant, according to a company official and two industry sources. The new complex comprises a 200,000-barrel per day crude oil...
Category: International
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BP exits giant Australian green hydrogen and renewables hubBP has exited the gigantic
BP exits giant Australian green hydrogen and renewables hubBP has exited the gigantic Australian Renewable Energy Hub, which would feature up to 26GW of upstream wind and solar, much of which would have been used produce hydrogen and ammonia. The oil company had first bought a 40.5% operating stake in the project back in 2022,...
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Global Shift Toward Small Modular Reactors Accelerates, with Key Lessons for Africa’s Energy Future
A new report from the OECD Nuclear Energy Agency (NEA) reveals rapid global momentum behind Small Modular Reactors (SMRs) a technology increasingly being recognised as a strategic tool for clean, reliable, and decentralized energy production. The latest edition of the NEA’s SMR Dashboard identifies 127 unique SMR designs worldwide, up from 98 in the previous...
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Converging Exxon and Chevron operations could spur next mega-merger
LONDON, July 24 (Reuters) – Exxon Mobil and Chevron’s recent major acquisitions raise a provocative question: does the U.S. still need two energy titans, or might it be more efficient for the two to join forces?An $800 billion combination would certainly evoke memories of Standard Oil, the conglomerate John D. Rockefeller created in 1870 that...
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Does the Oil and Gas Industry Need $18 Trillion for Investment to Keep Prices Down?
In the ever-evolving landscape of global energy, few questions spark as much debate as the future of oil and gas demand. With OPEC projecting a staggering $18.2 trillion in new investments needed by 2050 to ensure sufficient supply, the industry finds itself at a crossroads. This figure, outlined in OPEC’s 2025 World Oil Outlook, aims...
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Tenaris secures key contracts for Suriname’s first offshore oil project
TotalEnergies has awarded Tenaris a contract to supply casing, tubing, and Rig Direct® services for the GranMorgu project, Suriname’s first major offshore oil development. Tenaris said it will supply around 47,000 tons of casing and tubing featuring TenarisHydril Blue® and Wedge™ Series connections. The supply includes 13 Chrome steel grades and Dopeless® technology, which enhances...
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Key facts about Chevron, the latest oil heavy weight in Guyana’s Stabroek Block.
Chevron was founded in 1879 as the Pacific Coast Oil Company in California.Chevron Corporation has officially stepped into Guyana’s energy landscape through its recent acquisition of Hess Corporation, one of the original stakeholders in the Stabroek Block. This is Chevron’s formal entry into one of the world’s fastest-growing oil frontiers. The company, founded in 1879...
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Japan power firm plans to build first new nuclear reactor since Fukushima
TokyoReuters — Kansai Electric Power will begin surveys for the construction of a new nuclear power reactor at its Mihama power station in Fukui prefecture, western Japan, to replace the existing facility, the company said on Tuesday. The decision marks Japan’s first concrete step towards building a new nuclear reactor since the Great East Japan Earthquake...
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Namibia targets 143 GWh green baseload power by 2030
Namibia plans to generate 143 GWh of green baseload electricity by 2030 as part of its clean energy push under the recently launched Sixth National Development Plan (NDP6). The target forms part of the country’s strategy to use its solar and wind resources to develop a green hydrogen industry and reduce dependence on fossil fuels....
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OPEC is Playing The Long Game
“There is no peak in oil demand on the horizon,” the head of OPEC, Haitham al Ghais, said last month in Canada. Demand will continue to increase as global population grows, he added. And OPEC will be there to respond with what supply is necessary. OPEC is now playing the long game. Fast-forward a month...