(Bloomberg) Germany’s Heide oil refinery and its partner Orsted A/S have shelved plans for a green hydrogen plant due to increased investment costs and associated economic risks. This is at least the second such project Orsted has dropped in recent months, after deciding not to proceed with an electrolyzer at the Humber refinery in the UK. The …
Orsted Walks Away From Green Hydrogen Project Citing High Costs Read More »
(Reuters) – The global oil market will see a slight surplus of supply in 2024 even if the OPEC+ nations extend their cuts into next year, the head of the International Energy Agency’s (IEA) oil markets and industry division told Reuters on Tuesday. At the moment, however, the oil market is in a deficit and …
IEA Sees Surplus Oil Supply in 2024 even if OPEC+ Extends Current Cuts Read More »
Summary More OPEC+ cuts likely next year, analysts say U.S. inventory reports seen showing rising crude stocks Coming up: API report, 2130 GMT LONDON, Nov 21 (Reuters) – Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the …
(Reuters) – Siemens Gamesa, the struggling wind division of Germany’s Siemens Energy (ENR1n.DE), plans to cut costs by around 400 million euros ($436 million) by 2026, according to presentation slides posted online ahead of the company’s capital markets day. The goal was to “simplify organization and optimize overhead costs” while the Siemens Gamesa’s onshore wind …
Siemens Energy’s Struggling Wind Unit Unveils $436 million in Cost Cuts Read More »
The U.S. Coast Guard on Monday said it was still looking for the source of a leak from an underwater pipeline off the Louisiana coast in the Gulf of Mexico that it estimated had released more than a million gallons of crude oil. The 67-mile long pipeline was closed by Main Pass Oil Gathering Co …
U.S. Coast Guard seeks source of some 1.1 million gallons of crude oil in Gulf of Mexico Read More »
The biggest oil-storage hub in the US — a massive network of tank farms known as the “Pipeline Crossroads of the World” — is rapidly losing its primacy as a signal for domestic supply and demand. For decades, traders watched inventory levels at Cushing, Oklahoma, to track US crude balances, but the US’s increasing integration …
Oil Traders Struggle as Decades-Old Signal of U.S. Market Weakens Read More »
(Bloomberg) It’s about to get very noisy in the climate world as more than 70,000 people flock to the United Arab Emirates for the COP28 summit starting next week. Making sense of the many announcements about to land will be a challenge. The main headlines will rightly focus on what nearly 200 countries agree on at the United Nations-backed …
How to Tell If a Climate Deal Will Succeed or Fail Read More »
By Geoffrey Cann It Happens To Everyone at Some Point After five years at our current home, we decided this year it was time to renovate. The pandemic brought it to a fore when we ran out of working space, forced on us from work from home policies. We quickly grew frustrated with the work arounds, the inefficiencies, …
When Your ERP Technology Landscape Reaches End of Life – Geoffrey Cann Read More »
(Bloomberg) For the second time in six years, NRG Energy Inc. is making a big change after activist investor Elliott Investment Management LP objected to the strategy being pursued by the independent US power producer. On Monday, NRG announced it’s replacing Chief Executive Officer Mauricio Gutierrez following a dispute over the company’s $2.8 billion acquisition …
NRG Replaces CEO After Another Battle With Elliott Over Strategy Read More »
The Organization of the Petroleum Exporting Countries and allies (OPEC+) are likely to extend or even deepen oil supply cuts into next year, after a more than 15% drop in Brent prices from a peak in September, eight analysts have predicted. OPEC+ is set to consider whether to make additional cuts when the group meets …
More OPEC+ Cuts Likely Next Year, as Oil Prices Plunge – Analysts Weigh In Read More »
