In a significant turn of events, oil prices have declined following OPEC's downward revision of its oil demand growth forecast, primarily attributing this adjustment to weakening consumption in China. Brent crude oil prices dropped by 0.66 percent to $81.76 per barrel, while West Texas Intermediate
The journey towards global electrification is often viewed through the lens of renewable energy sources such as solar, wind, and hydroelectric power. However, a crucial component that underpins the entire electrification process is frequently overlooked—petroleum. Contrary to the popular belief
In a landmark move aimed at transforming New England's energy infrastructure, the U.S. Department of Energy has awarded a substantial $389 million grant to Power Up New England, an ambitious collaborative project that involves all six New England states. This significant investment is designed to
In a contentious move that has stirred significant debate, Colorado's Energy and Carbon Management Commission (ECMC) has revised its proposed cumulative impact rules concerning oil and gas drilling near homes, particularly in communities already burdened by environmental concerns. This revision
In July 2024, Opec-plus members saw a notable increase in their crude oil production by 240,000 barrels per day, pushing the total output to 34.2 million barrels per day. This rise was predominantly driven by increased production from Iraq, Russia, and Nigeria. This increase, however, was
A groundbreaking memorandum of understanding (MoU) was recently signed between SeaTwirl, a developer of floating wind turbines, and Serica Energy, an offshore oil and gas operator, to explore the electrification of offshore assets and activities using SeaTwirl's innovative floating wind turbines.
