China, the world’s biggest buyer of liquefied natural gas, kicked off an unprecedented effort to resell its supply, alleviating global fuel shortage fears that have sparked record prices this winter. Two of China’s biggest state-owned LNG importers released tenders this week offering to sell dozens of cargoes for delivery through November. With the end of
Offshore wind turbines in waters near Aberdeen, Scotland. Gannet77 | E+ | Getty Images The Scottish offshore wind sector received a boost this week after a program to lease areas of Scotland’s seabed for wind farm developments raised just under £700 million (around $952 million). According to Crown Estate Scotland — a public corporation which
By Eric Ralph Posted on January 19, 2022 NASA has updated the status of SpaceX’s next two crewed Falcon 9 launches – one fully private and the other for the space agency. According to NASA, SpaceX’s first all-private Crew Dragon mission to the International Space Station has been delayed a month to allow additional technical
A bunch of former SpaceX engineers banded together to create a new startup looking to make electric and autonomous railway vehicles to revolutionize rail-based freight transport. They have a big task ahead of them. The railway business is a tough one to break into. It’s a static oligopoly dominated by a few giants sitting on
Global oil markets look tighter than previously thought as demand suffers surprisingly little impact from the latest coronavirus strain while supplies are curbed by disruptions, the International Energy Agency said. The surplus facing world markets this year is shrinking, with oil demand — slightly upgraded from last month — on track to hit pre-pandemic levels
In this article GM TSLA The southwest of England is famed for its dramatic coastline, verdant countryside and fresh seafood. If all goes to plan, another string could be added to the region’s bow over the next few years: lithium extraction. In the county of Cornwall, efforts are underway to tap into the area’s natural
A storage facility of oil giant ADNOC near the airport in the capital of the United Arab Emirates, Abu Dhabi, on Jan. 17, 2022. AFP | Getty Images DUBAI, United Arab Emirates — The attack on Abu Dhabi claimed by Yemen’s Houthi militants Monday threatens to derail fragile efforts at rapprochement between Gulf Arab states
By Joey Klender Posted on January 18, 2022 Tesla’s importance as an automotive company is undoubtedly one of the most crucial in the storied history of car manufacturing. While Tesla’s influence undoubtedly shifted many legacy car companies to consider electrification as a potential outlet for growth and evolution, Jefferies analyst Phillippe Houchois says that now
The biggest North Sea fossil-fuel producers are set to invest more in the region’s wind power in the coming years than in its oil and gas. Royal Dutch Shell Plc, TotalEnergies SE and BP Plc, which won rights to develop wind farms off Scotland this week, are shifting their spending priorities as they retreat from the aging
In this article XOM Darren Woods, CEO, ExxonMobil Michael Newberg | CNBC Oil prices rose to a seven-year high Tuesday amid ongoing supply concerns and escalating tensions in the Middle East, but Exxon Mobil CEO Darren Woods said the ultimate trend for prices will be lower. In the immediate future, however, the oil executive said
Growing tensions between Russia and Ukraine have cast a shadow over energy markets, and the uncertainty could mean a prolonged period of high gas prices for Europe, analysts say. “It’s a very tight gas market … and there’s no question that this sense of imminent crisis building with Russia and Ukraine is also hanging over
By Joey Klender Posted on January 17, 2022 Tesla’s widely-publicized issues with heat pumps over the past several weeks are being solved by a firmware update, CEO Elon Musk commented this past weekend. “Fixing this is a high priority,” Musk said on Saturday. The heat pump has been an integral part of Tesla’s plan to
Infant eVTOL racing league, Airspeeder, has publicly announced its first three pilots ahead of its remotely operated EXA Series of Grand Prix taking place in 2022, followed by a crewed racing series in 2023. The first three eVTOL pilots come from different racing backgrounds and represent a new future of “flying car” racing. Airspeeder is a
Energy supermajor BP has handed in the decommissioning plan for the iconic Petrojarl Foinaven FPSO located West of Shetland. BP decided in April 2021 to retire the Petrojarl Foinaven FPSO due to safety issues. The FPSO will be taken off station and handed back to its owner Teekay in 2022. To remind, the UK Health and
By Eric Ralph Posted on January 16, 2022 A SpaceX Falcon 9 rocket has rolled out to Kennedy Space Center Pad 39A ahead of the company’s third Falcon 9 launch this month as plans for another two missions – for a total of five – have crystallized. A Spaceflight Now webcam captured the unknown flight-proven
As we head into the beginning of 2022, there are a number of exciting new electric vehicle models on the market. These highly-anticipated EVs have recently made their debut and are now available to consumers. From a truck that can handle any terrain to a luxury car with more than 500 miles of electric range,
Canada will face challenges in retaining its status as a global oil and gas power in a world transitioning toward net zero carbon emissions by mid-century, the International Energy Agency said. The country, holder of the world’s third-largest oil reserves, seeks to remain “a major global oil and gas supplier” beyond 2050 even as countries,
In this article LHA-DE A Boeing 747-8 Lufthansa airplane takes off from the Airport Tegel in Berlin. Britta Pedersen | AFP | Getty Images Airlines in Europe this winter are flying passenger planes that are at times nearly empty in order to hold onto coveted take-off and landing spots at airports during a time of
A pedestrian walks past a certified pre-owned car sales lot in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images Although it will come down from imminent peaks, inflation is unlikely to normalize in the near future, according to Francesco Curto, head of research at asset management firm DWS, as
By Joey Klender Posted on January 14, 2022 The University of Michigan Chemical Sciences and Engineering team, led by Professor Nicholas Kotov, has developed a “new biologically inspired battery membrane” with recycled Kevlar fibers that could quintuple electric vehicle ranges and have a lifespan of 1,000 cycles. The Ann Arbor, Michigan research facility is one
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