The EIA might be forecasting that the Permian Basin’s oil production will be rebounding soon, but overall, today’s U.S. oil production is still 2 million barrels per day below the levels seen in January 2020. The EIA’s Monthly Drilling Productivity Report is forecasting that for the nation’s most prolific basin, the Permian, production will return to 4.466 million barrels per…
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Japan will release some 1 million tons of contaminated water from the Fukushima nuclear power plant into the ocean, the country’s government said amid strong opposition from Japan’s neighbors. The move, according to them, was “extremely irresponsible”, Reuters reports, adding that Japan’s Prime Minister responded with “Releasing the … treated water is an unavoidable task to decommission the Fukushima Daiichi Nuclear…
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Conservative candidate Guillermo Lasso, 65, won the presidential election in South American oil producer Ecuador, and said he would propose new oil deals to private oil companies. Lasso won the run-off against Andres Arauz, 36, who was running on a socialist platform for more social spending. Arauz, a socialist economist and protégé of former left-wing president Rafael Correa, conceded defeat…
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Glance up and around and you’ll know the horizon is changing. From Canada to South Africa, Brazil to China, windmills and solar panels are telling a story of change. In the United States, the landscape is collecting a kind of 21st-century raiment. Wind farms, solar farms, and just stray windmills and solar panels on roofs are signaling something big and…
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Venture capital fund manager Energy Transition Ventures said on Tuesday it had launched the first venture fund in Texas that will exclusively invest in energy transition technologies. The fund is founded in the world’s energy capital Houston by cleantech start-up executives and venture capitalists Craig Lawrence and Neal Dikeman, with anchor investment from two operating companies from the GS Group…
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Saudi Arabia looks to have notched up a new record-low price for large-scale solar power, with one of seven projects recently signed up to power purchase agreements contracted to sell electricity for just over $US10 per megawatt-hour ($A13/MWh). According to local press, Saudi Arabia’s energy minister Prince Abdulaziz Bin Salman announced the new record on Thursday last week at the…
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KARACHI: The Pakistan Petroleum Limited has received Rs903.218 million from the National Accountability Bureau (NAB) against outstanding receivables from Byco Petroleum Pakistan Limited, the company announced on Monday. The PPL informed the Pakistan Stock Exchange (PSX) about it in a regulatory filing and said that the company would pursue for remaining over Rs253m. “In pursuance of Rule 5.6.1 of your…
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