Global offshore wind capital expenditure to more than double, top $100 billion in 2030 – Rystad

Installations and investments in the global offshore wind industry are set to surge this decade as nations seek to transition to cleaner sources of energy, with total capital expenditure projected to more than double from $46 billion in 2021 to $102 billion in 2030, Rystad Energy research shows. Driving this growth is a significant uptick […]

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Global energy spending is set to reach a record high of over $2 trillion in 2022, led by oil and gas

Surging oil, gas, and power prices together with the European Union (EU)’s goals of becoming less dependent on Russian supplies and post-Covid-19 pandemic inflation will catapult global energy spending this year to $2.1 trillion, Rystad Energy research shows. A concern in energy markets is that the ongoing war in Ukraine will derail the energy transition, […]

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Solar power’s supply chain crisis makes 1.5°C climate target a major challenge – Rystad

Grid parity, resilient networks and strategic partnerships have spurred growth in the world’s solar panel manufacturing capacity in recent years, to 330 gigawatts (GW) in mid-2021, a Rystad Energy analysis showed. It revealed that to meet the 1.5°C 2050 scenario under the Paris Agreement, capacity had to quadruple to 1,200-1,400 GW by 2035 to handle […]

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Supplying Asia with LNG got much costlier for the US, but strong demand brings export records – Rystad

Supplying liquefied natural gas to the growing (LNG) Asian market has become more expensive for US producers this year, Rystad Energy said in report, adding that even so, US exporters are unlikely to repeat last year’s cost-related shut-ins as global demand has rebounded to strong levels. Instead, US LNG exports climbed to a record monthly […]

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Oil prices fall as EIA confirms crude inventory build in the United States

Crude oil prices accelerated their fall after the Energy Information Administration (EIA) reported a rise in U.S. crude oil inventories of 5.7 million barrels for the week to June 5 and an increase in fuel inventories. A day earlier, the American Petroleum Institute reported a crude oil inventory build of 8.42 million barrels, which caused prices to dive after […]

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