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China’s Record Hydro and Solar Cut Coal Power During Heatwave

CDN and International News, Latest, Renewable Energy, Solar / By

By John Kemp (Reuters) – China’s electricity consumption smashed the previous record in July as a prolonged heatwave settled over major load centres, especially in the Yangtze Delta, driving an enormous increase in air-conditioning and refrigeration. Unprecedented load was met by record output from hydro and solar, ensuring coal-fired generation fell slightly compared with the same …

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Brent Likely to Take a Hit From Soft Demand in China, Says Goldman

CDN and International News, Conventional Energy, Latest, Oil / By

Goldman Sachs on Tuesday said it expected Brent crude prices to fall to $68 per barrel by late 2025 if China oil demand remains flat through end of next year. Brent futures were trading around $77 a barrel by 11:46 a.m. EDT (1546 GMT) on Tuesday, while U.S. West Texas Intermediate (WTI) crude was around …

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Russia Complains to Germany over Nord Stream Sabotage Probe

CDN and International News, Energy Topics & Technology, Latest, Pipelines / By

(Reuters) – Russia has complained to Germany over its investigation into the 2022 explosions that ruptured the Nord Stream gas pipelines, the RIA state news agency reported on Monday, after a key suspect escaped arrest in Poland. German media reported last week that German prosecutors had identified a Ukrainian diving instructor as a suspect in the Nord …

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Woodside Gets Environmental Go-Ahead for Scarborough Project; Key Green Group Backs Down

CDN and International News, Conventional Energy, Latest, Natural Gas / By

Summary Shares up 1.3% VS fall in energy index Australia’s laws work in favour of fossil fuel interests – ACF Scarborough commissioning key growth catalyst – analysts (Reuters) – Woodside’s $12.5 billion Scarborough gas project in Western Australia has all primary environmental approvals in place, the firm said on Monday, after a green group agreed …

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Why Canada is on the Verge of an Unprecedented Rail Labor Stoppage

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands / By

For the first time, Canada’s two main railway companies – Canadian National Railway and Canadian Pacific Kansas City – are on the verge of a simultaneous labor stoppage that could inflict billions of dollars’ worth of economic damage. WHY ARE BOTH COMPANIES POISED TO STOP? Contract talks between the Teamsters union and the companies usually …

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Norwegian Oil Investments to Hit Record High as Inflation Drives Up Costs

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil / By

Summary Statistics office compiles oil, gas investment survey Norway oil investments to hit record NOK 257 bln in 2024 (Reuters) – Norwegian oil and gas investments are expected to hit a record this year and stay at elevated levels in 2025, driven by ongoing field developments and rising inflation, a national statistics office (SSB) survey …

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IEA Trims 2025 Oil Demand Outlook as China Offsets Global Gains

CDN and International News, Latest, Oil / By

By Noah Browning (Reuters) – The International Energy Agency (IEA) kept its 2024 global oil demand growth forecast unchanged on Tuesday but trimmed its 2025 estimate, citing the impact of a weakened Chinese economy on consumption. The report from the IEA, which advises industrialised countries, is the second this week to flag that a sluggish economy …

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Tourmaline Oil to Buy Crew Energy in $947 Million Deal

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas / By

Company pushes further into ranks of biggest energy producers Acquisition follows C$1.5 billion Bonavista deal last year Tourmaline Oil Corp. agreed to buy Crew Energy Inc. for C$1.3 billion ($947 million) as Canada’s biggest gas driller pushes to grow production in anticipation of rising gas demand for power and exports. The all-stock transaction is valued at approximately C$6.69 …

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We’re Burning More Climate-Warming Coal Than Ever. Why?

CDN and International News, Coal, Conventional Energy, Latest / By

There’s little doubt that avoiding the most dire effects of climate change requires phasing out power stations that burn coal, the biggest source of carbon dioxide emissions. Yet the opposite is happening. Even as temperatures on Earth smash new records and scientists warn the climate is reaching dangerous tipping points, the amount of coal being …

We’re Burning More Climate-Warming Coal Than Ever. Why? Read More »

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