Grab your tables now and save upto 20% before the early bird offer expires at midnight on Friday, 11 February
The Middle East Energy Awards are all set to celebrate energy projects, initiatives, individuals, and companies shaping the future of energy in the Middle East. With less than three weeks left for the Middle East Energy Awards 2022, we’re excited to announce that the early bird offer for table reservations are now open and valid […]
Oxfordshire facility was able to achieve record-breaking energy from sustained fusion for over five seconds
The Joint European Torus (JET) facility reported a record-breaking production of energy from a sustained nuclear fusion experiment in a win for the future energy technology. The UK-based facility was able to successfully produce 59 megajoules of heat for over five seconds, breaking its previous record of 21.7 megajoules set in 1997. These results are […]
BP aims to generate earnings of $9-10bn by 2030 driven by businesses from bioenergy, convenience, electrification, renewables and hydrogen.
British multinational company BP has announced its annual financial results, reporting underlying replacement cost profit, a proxy for net profit, of $12.8bn for 2021, its highest in eight years, compared to a loss of $5.69bn during 2020. The firm’s underlying profit for Q4 2021 was $4.1bn, up 24 percent quarter-on-quarter, compared with $3.3bn in Q3 […]
A brief technology and best practice note on energy management for today’s connected process industry from Honeywell
Almost all process industry facilities have begun to engage in energy management initiatives. Yet sometimes the benefits from these initiatives can erode as fast as they are achieved. This is primarily because things change, whether that is in the process, systems, fidelity of rigorous simulation models used, and aged assets. As a result, a degree […]
US oil crossed $90/bbl for the first time since 2014 as concerns mount over increasing demand versus constrained supply
“Continued shortfalls may tip the market into deficit and put upward pressure on oil prices,” independent advisory firm notes
OPEC+ member states underperformed their production target by 832,000 b/d in December, the group’s advisory committee’s analysis stated, S&P Global Platts reported. This casts uncertainty on whether the allies will increase supply in line with global demand, S&P noted. Today’s committee meeting to discuss March output levels will likely approve another 400,000 b/d hike in […]
The oil giant generated $48 billion of cash flow from operating activities, the highest level since 2012
American oil company ExxonMobil reported Tuesday a profit of $23 billion in 2021 and Q4 earning of $8.9 billion owing to the recovery of oil prices throughout last year. In addition, the company stated that it generated $48 billion in cash flow from operating activities – the highest in 10 years – and reduced its […]
Analysts say the pressure from importing nations and the pace of crude's price rally indicate a potential for OPEC+ to increase output
Investment banking firm Goldman Sachs said on Tuesday that OPEC+ may announce a bigger-than-expected rise in output due to Brent oil prices’ increase to around $90 per barrel, as cited by Bloomberg. The outcome of either an expected hike of 400,000 barrels a day for March versus a bigger increase following Wednesday’s OPEC meet remains […]
The rapid growth of hydrogen is likely to bring significant geoeconomic and geopolitical shifts, IRENA said in a new report
The development of hydrogen is accelerating. Governments, economic bodies and companies are betting big on the future of energy including hydrogen as a new, cleaner fuel. By 2050, the International Renewable Energy Agency (IRENA) estimated in a new report that the fuel is likely to cover up to 12 percent of global energy use. The […]
The price for Brent crude futures rose over $90 last week for the first time in years
Oil prices have continued to soar as signs of extended global demand growth have continued while tensions in Ukraine sprout fears of an energy flow upset. The price for Brent crude futures rose over $90 last week for the first time in years. The price has risen as fears increased over a Russian invasion of […]
