Exxon retreated from oil trading in pandemic as rivals made fortunes
Exxon Mobil’s effort to build an energy trading business to compete with those of European oil majors unraveled quickly last year as the firm slashed the unit’s funding amid broader spending cuts, 10 people familiar with the matter told Reuters. The cuts left Exxon traders without the capital they needed to take full advantage of […]
For state-owned power utility companies in the Pacific, it’s time to cut the cord
State-owned power companies in the Pacific are increasingly becoming a fiscal risk in part due to their outdated management practices. Reforms are needed to allow them to prosper and perform into the future.
China to bring solar and wind power generation to 11% of total electricity use in 2021
China has flagged it will seek to raise its power generation from solar and wind plants to around 11% of the country’s total power consumption in 2021, from 9.7% in 2020, said the National Energy Administration (NEA) in a draft rule on Monday. Chinese President Xi Jinping has announced that China will boost the share […]
Oil maintains upward momentum but virus concerns cap gains
SINGAPORE (Reuters) -Crude oil climbed on Wednesday after industry data showed U.S. inventories declined more than expected and OPEC raised its outlook for oil demand, but gains were capped by worries about the coronavirus and by rising supplies.
It’s time for a green social contract
The green transformation will have far-reaching socio-economic implications. Action is needed to ensure domestic and international social equity and fairness.
Analysis: High stakes at sea in global rush for wind power
LONDON(Reuters) – Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy. The drive among top fossil fuel producers to make fast inroads […]
Oil drops below $64 as rising OPEC+, Iranian output weighs
LONDON (Reuters) – Oil fell to below $64 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States and expectations of a wider demand recovery in 2021. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on […]
Building the Smart Grid: The Role of IoT in Powering Tomorrow’s Cities
As the population increases in the urban areas of countries, these cities are facing the obstacles of directing sufficient power to cater to everyone’s needs while employing the functions of these outdated power grids. Built many decades ago, current electric grids are unpredictable in performance, expensive to operate, and unproductive. A single fallen stick from […]
Solar Power-Renewable Energy for Power Generation
Solar Power System Electricity is one of the most essential needs for human in the present. With ever increasing concerns on energy security and environmental issues, utilization of renewable energy generation has gain rapid development and global acceptance over the past few decades. Now a day renewable energy has become a trend to get utilized […]
