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Illustration; Source: The International Renewable Energy Agency (IRENA)

Market Outlooks

Annual renewable power must triple by 2030, IRENA claims

In the first volume of the World Energy Transitions Outlook (WETO) 2023, the International Renewable Energy Agency (IRENA) calls for annual renewable power additions of 1,000 GW by 2030 to keep the 1.5°C climate target within reach. More specifically, IRENA identifies the way forward to immediately

about 3 years ago

Market Outlooks

Headway made in Bonn but all hopes rest on COP28’s shoulders to tackle emission reduction challenges

The Bonn Climate Change Conference helped lay the groundwork for the political decisions required at COP28 in Dubai at the end of the year.

about 3 years ago

Market Outlooks

WoodMac: Gas resource holders in LNG vs. ammonia dilemma

According to the “Stick or twist: Should gas resource holders target LNG exports or blue ammonia?” report by energy intelligence group Wood Mackenzie (WoodMac), the acceleration of the energy transition means gas resource holders increasingly face a choice to either follow the established pathway an

about 3 years ago

Vito platform in the U.S. Gulf of Mexico; Credit: Shell

Market Outlooks

Oil & gas with LNG as centrepiece getting a $40 billion slice of Shell’s investment pie

Shell has unveiled plans to spend around $40 billion in its Integrated Gas and Upstream businesses, as it believes that oil and gas will remain important players on the energy stage.

about 3 years ago

Illustration; Source: International Energy Agency (IEA)

Market Outlooks

With peak oil demand in sight, is the end of the black gold era really approaching?

The International Energy Agency (IEA) believes that growth in global oil demand is projected to slow down to a crawl by 2028.

about 3 years ago

Market Outlooks

SEA-LNG: LNG has half the lifetime cost of methanol and ammonia

The lifetime fuel costs of meeting key European decarbonisation targets for shipping through the LNG pathway are expected to be roughly half that of the methanol or ammonia pathways, according to the findings of a new analysis from the SEA-LNG coalition. The multi-sector coalition promotes the comme

about 3 years ago

Market Outlooks

Huge potential puts Oman on track to become sixth-largest hydrogen exporter by 2030

In a first-of-its-kind report, International Energy Agency (IEA) has presented how rich renewable resources and vast land expanses could make Oman a competitive low-emissions hydrogen supplier by 2030. The report called Renewable Hydrogen from Oman: A Producer Economy in Transition is the first IEA

about 3 years ago

Market Outlooks

GCMD survey unveils decarbonization blind spots: Industry cannot decarbonize without conservatives

Singapore-based Global Centre for Maritime Decarbonization and Boston Consulting Group have revealed major insights from the Global Maritime Decarbonization Survey during a presentation held at Nor-Shipping 2023’s Tradewinds Ocean Stage. The survey sheds light on the current state of maritime decarb

about 3 years ago

Market Outlooks

What impact will OPEC+ cuts have on global and US oil & gas production?

The EIA expects global oil production to be lower than anticipated after OPEC+ announced extension of its crude oil production cuts.

about 3 years ago

Market Outlooks

Biofuel key to maritime decarbonisation, but challenges present, DNV says

In its latest white paper “Biofuels in shipping,” classification society DNV has reported that the flexibility of biofuels can enable the shipping industry to accelerate its journey towards decarbonisation while maintaining operational efficiency. However, the current limitations in production capac

about 3 years ago

Illustration; Source: American Petroleum Institute (API)

Market Outlooks

Natural gas hailed as backbone of energy mix with security of supply and decarbonisation vying for attention

Natural gas is still forecasted to play a crucial role and act as a trump card while the world embraces the race to net-zero.

about 3 years ago

Market Outlooks

IDTechEx: Methane pyrolysis and turquoise H2 should not be overlooked

In its market report “Blue Hydrogen Production and Markets 2023-2033: Technologies, Forecasts, Players,” technology company IDTechEx explores the topic of turquoise hydrogen and delves into the various methane pyrolysis technologies, their benefits, drawbacks and the key commercial activities shapin

about 3 years ago

Market Outlooks

Maersk Mc-Kinney Moller Center: Shipowners should be wary of relying on e-fuels alone

A recent analysis by Maersk Mc-Kinney Moller Center has identified four key constraints that may hinder the supply of renewable electricity to the maritime industry in the 2030s and 2040s, potentially leading to a shortage of e-fuels. The key constraints highlight the challenges that need to be addr

about 3 years ago

Market Outlooks

Methanol Institute issues first complete guide to methanol as marine fuel

The Methanol Institute, a global trade association for the methanol industry, has published the first comprehensive guide to methanol as a marine fuel to help stakeholders across the industry access the information they need to support decision-making on which alternative fuel is right for their fle

about 3 years ago