Month: February 2021

Baker Hughes Co. (NYSE: BKR) on Friday reported the total number of rotary drilling rigs operating in the United States hit 402 this week ’ a five-unit week-on-week increase. The most recent U.S. rig count reflects a four-unit increase in oil rigs (to 309), a one-unit increase in gas rigs (to 92), and no change
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The European Solar Initiative and Solar Power Europe have teamed up to launch the new Solar Manufacturing Accelerator. This new platform is aimed at accelerating the deployment of solar PV manufacturing projects in Europe ’ something that strengthens the EU’s leadership in clean energy technologies. It also contributes to the re-industrialization of Europe. This initiative
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fanjianhua | Moment | Getty Images A Swedish firm backed by investors including Spotify founder Daniel Ek plans to build a steel production facility in the north of the country that will be powered by what it describes as “the world’s largest green hydrogen plant.” H2 Green Steel, which was established in 2020, will focus
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(Bloomberg) — Oil fell the most since November with a stronger dollar and concerns surrounding inflation weighing on crude’s best start to the year on record. Futures in New York declined 3.2% on Friday, with a rising dollar reducing the appeal of commodities priced in the currency. Yet, the U.S. crude benchmark still managed to
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Nuclear energy will “absolutely” be politically palatable, billionaire philanthropist, technologist and climate change evangelist Bill Gates recently told Andrew Ross Sorkin on CNBC’s “Squawk Box.” Nuclear power has to overcome a baneful reputation garnered by association with the atomic bomb and radioactive disasters, but it’s a necessary, worthy and surmountable challenge to correct the naysayers,
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(Bloomberg) — Oil flipped between small gains and losses as the market weighed a tightening global supply outlook against indications prices may be overextended. Futures in New York were little changed after chopping around a one-year high on Thursday. The oil futures curve continues to signal a tighter market, with Brent’s nearest contract trading at
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By Alex Grant, Principal, Jade Cove Partners, San Francisco, USA, & Paul Martin, Chemical Process Development Expert, Toronto, Canada Exxon first correctly identified combustion of their hydrocarbon products as the cause of future catastrophic climate change as early as 1977.¹ But for decades, Exxon successfully ensured that their investors and the world’s governments would not know what
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Offshore wind turbines being installed in waters off Zhoushan, Zhejiang Province, China, on September 3, 2020. Yao Feng | Visual China Group | Getty Images The world added more than 6 gigawatts (GW) of new offshore wind capacity in 2020, with China responsible for over half of installations in the sector, according to new figures
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(Bloomberg) — Oil surged to the highest in more than a year as the market looks ahead toward an accelerating decline in global inventories and a comeback in demand. Futures in New York climbed 2.5% Wednesday, rising to the highest since January 2020. Energy Information Administration data showed crude output fell to 9.7 million barrels
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(Bloomberg) — Oil dipped in New York as technical indicators signal prices are due for a pullback following a strong rally this month. The market is pricing in a strong short-term deficit, according to oil trader Vitol Group. But uncertainty remains over when demand will come back in force, and U.S. production is resuming in
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Editor’s note: Note that this evaluation does not take social, environmental, or public health costs into account, and natural gas comes with high social, environmental, or public health costs. Those costs, for the most part, are not priced into power plant costs in the United States. A supplemental report to the U.S. Energy Information Administration’s
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Bloomberg) — Trafigura Group sees oil markets firming in the coming months as most of the world emerges from lockdowns and production losses from the recent U.S. deep freeze add to a tighter supply outlook. “We have a strong market going into summer,” Ben Luckock, co-head of oil trading at the commodities trading giant, said
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