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Renewables could power coal-fired stations

Coal-fired power stations could be converted to entirely fossil-fuel-free generators thanks to a solution developed by Australian engineers. The University of Newcastle has patented new thermal storage material housed in stackable blocks like Lego. The blocks can store energy generated by renewables as thermal energy, which can be used to run steam turbines at power stations rather than burning coal. Measuring 20cm x 30cm x 16cm, the blocks can be…

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UK oil companies will struggle to find semi-subs for work in 2021, according to Bassoe Offshore.

UK oil companies will struggle to find semi-subs for work in 2021. That’s according to Teresa Wilkie - an offshore rig market analyst for offshore rig brokerage, advisory and project development company Bassoe Offshore – who made the statement in a report posted on the company’s website last week. “Exploration and production companies planning drilling campaigns in British waters next year could face a surprisingly small selection of semi-subs to…

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Turkey Black Sea find shapes its potential role as an energy producer

ANKARA - Turkey says its natural gas find in the Black Sea will likely be followed by further discoveries, altering the geopolitics of energy trade in its region. “It’s just the beginning,” President Recep Tayyip Erdogan’s spokesman Ibrahim Kalin said of Friday’s announcement that Turkey struck gas deep under its territorial waters. “The work will continue for exploration as well as drilling at the same time. We’re very hopeful that it…

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Lower German June gas imports drag down H1 total, prices fall

Gas, power and carbon traders monitor gas imports because the supply and demand balance can change prices and traded volumes in all three markets  in german. FRANKFURT: Germany imported 2 per cent less natural gas in the first six months of 2020 after imports in June alone dropped by 8.5 per cent year-on-year while lower prices reduced the Jan-June import bill by more than a third, official data showed on Friday. Gas, power and carbon traders monitor gas…

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oil demand

Major forecasters agree: No oil demand recovery until at least 2022

Bloomberg - Global oil demand won’t return to 2019 levels until at least 2022 and the gap may be getting wider than it seemed a month ago. All three of the world’s main oil forecasting agencies — the International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries — published new quarterly forecasts this week and none project oil demand back at 2019 levels by…

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