ISO New England proposes capacity market changes, further 2-year delay for upcoming auction

February 15, 2024

The Federal Energy Regulatory Commission in January approved a 1-year delay to New England ISO’s Forward Capacity Auction 19. Now, the grid operator has asked for a further 2-year delay to develop a new approach to procuring resource commitments. ISO New England on Thursday, February 8th, said it wants to shift from its annual Forward […]

Biden Administration delaying thought of new natural gas export terminals in U.S.

January 30, 2024

The Biden administration said Friday it is delaying consideration of new natural gas export terminals in the United States, even as gas shipments to Europe and Asia have soared since Russia’s invasion of Ukraine. The decision by President Joe Biden, announced as the 2024 presidential election year kicks off, aligns the Democratic president with environmentalists […]

Caterpillar Demonstrates Hydrogen Fuel Cells as Backup Power for Data Centers

January 25, 2024

Caterpillar (CAT) said on Friday, January 19th, that it demonstrated the performance of a hydrogen fuel cell system at high altitudes and below-freezing temperatures during a simulated 48-hour backup power event at Microsoft’s (MSFT) data center in Cheyenne, Wyoming. The company said the demonstration provided insights into the use of large-format hydrogen fuel cells for […]

Regulators say loss of Everett LNG terminal threatens New England energy reliability

January 8, 2024

A possible loss of the Everett Marine LNG terminal can jeopardize the reliability of New England’s energy supply during extreme cold weather, the Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Corp (NERC) said on Monday. Constellation Energy , a U.S. energy firm, owns the 1,413-megawatt Mystic natural gas-fired power plant and […]

Oil prices gain 3% on supply concerns after oilfield shutdown in Libya

January 3, 2024

Oil prices climbed about 3% on Wednesday after a disruption at Libya’s top oilfield added to fears that tensions in the Middle East could reduce global oil supplies. Brent futures rose $2.44, or 3.2%, to $78.33 a barrel by 11:06 a.m. EST (1606 GMT), while U.S. West Texas Intermediate (WTI) crude rose $2.45, or 3.5%, […]

BP Pauses Oil Shipments Through Red Sea Amid Fears of Attacks

December 18, 2023

Global oil prices jumped on Monday after the energy giant BP said it had stopped sending tankers through the Red Sea, a vital shipping lane which has become an increasingly dangerous route because of drone and missile attacks targeting merchant ships launched by the Houthi armed group in Yemen. The announcement by BP raised fears […]

Papua New Guinea in advanced talks with Chinese banks to fund its stakes in LNG megaprojects

December 13, 2023

Papua New Guinea’s state-owned petroleum company is in advanced talks with Chinese banks to help fund its stakes in the two major liquefied natural gas (LNG) projects in the country, a senior executive said on Monday. Kumul Petroleum is holding talks with banks in the U.S., Europe, and Australia, but its managing director Wapu Sonk […]

Arab OPEC ministers meet in Doha as COP28 discusses phasing out oil and gas

December 11, 2023

OPEC’s top Arab energy ministers arrived in Doha on Monday for the 12th Arab Energy Conference as countries clash at the UN’s COP28 climate summit over a possible agreement to phase-out fossil fuels. OPEC Secretary General Haitham Al Ghais in a letter dated Dec. 6 and seen by Reuters urged OPEC members to reject any COP28 […]

U.S. Energy Sector CO2 Emission to Drop 3% in 2023 as Coal Use Declines, EIA Says

November 30, 2023

Carbon dioxide emitted by the U.S. energy sector is expected to fall 3% year to year to 4,790 million metric tons in 2023, as higher electricity generation from renewable sources such as solar power should keep replacing coal-fired power plants, the Energy Information Administration said Tuesday. In addition, ELA said in its Tuesday report that […]

US to announce global nuclear fusion strategy at COP28

November 21, 2023

The U.S. will lay out the first international strategy to commercialize nuclear fusion power at the upcoming UN climate summit in Dubai, U.S. Special Envoy on Climate Change John Kerry will say on Monday, two sources familiar with the announcement said. Fusion could have an important advantage over today’s nuclear fission plants that split atoms, […]