Tuesday, January 21, 2025
Constellation Energy to buy Calpine in blockbuster $16.4 billion U.S. power deal- oil and gas 360

Constellation Energy to buy Calpine in blockbuster $16.4 billion U.S. power deal

(CNBC)– U.S. nuclear power provider Constellation Energy on Friday agreed to buy privately held natural gas and geothermal company Calpine Corp for $16.4 billion, marking one of the biggest acquisitions in the history of the U.S. power industry. The cash-and-stock deal comes at a time of rising electricity demand, driven by the proliferation of energy-guzzling AI data centers and the electrification of transportation

Turkey aims to increase Syria oil and natural gas production-oil and gas 360

Turkey aims to increase Syria oil and natural gas production

(World Oil) – Turkey said it wants to help increase oil and natural gas production in Syria, the latest step in Ankara’s overtures for deeper involvement in the reconstruction of the war-torn country. Turkish authorities are also working on ways to meet Syria’s electricity needs after more than a decade of conflict damaged the country’s infrastructure, Turkish Energy Minister Alparslan

The U.S. energy grid is increasingly vulnerable to cyberattacks- oil and gas 360

The U.S. energy grid is increasingly vulnerable to cyberattacks

Oil Price The U.S. grid’s vulnerability to cyberattacks has grown, the North American Electric Reliability Corporation has warned. According to the regulator, the number of vulnerability points in the grid had grown from between 21,000 and 22,000 at the end of 2022 to 23,000-24,000 at the end of 2023. “It’s very hard to keep pace with addressing all those vulnerabilities,”

A critical mineral cartel would be worse than OPEC- oil and gas 360

A critical mineral cartel would be worse than OPEC

Oil Price In her State of the Union address this week, EC President Ursula von der Leyen made a point about the EU’s growing independence in sectors such as energy, chips, and raw materials.   The official stressed the importance of these raw materials for energy, after which she went on to slam China for unfair market practices. Was she

Prolonged U.S. manufacturing slowdown barely dents energy use: Kemp- oil and gas 360

Prolonged U.S. manufacturing slowdown barely dents energy use: Kemp

Nasdaq LONDON – U.S. manufacturers reported that business activity declined for the 10th month running in August, though declines are becoming less widespread implying the trough in the cycle may be approaching. The Institute for Supply Management’s purchasing managers index increased slightly to 47.6 (16th percentile for all months since 1980) in August up from 46.4 (13th percentile) in July

U.S. unveils supply chain requirements for EV tax credits- oil and gas 360

U.S. unveils supply chain requirements for EV tax credits

Oil Price The U.S. government has unveiled tighter rules on electric vehicle (EV) tax credits to curb the nation’s reliance on China’s EV battery supply chains.   As part of President Joe Biden’s push to make 50% of U.S. new vehicle sales EVs or plug-in hybrids by 2030, the new sourcing requirements will reduce or eliminate credits on some zero-emission models. The

Lithium prices soar, turbocharged by electric-vehicle demand and scant supply-oil and

Lithium prices soar, turbocharged by electric-vehicle demand and scant supply

Fox Business Lithium prices are rising at their fastest pace in years, setting off a race to secure supplies and fueling worries about long-term shortages of a vital ingredient in the rechargeable batteries that power everything from electric vehicles to smartphones.   An index of lithium prices from research firm and price provider Benchmark Mineral Intelligence doubled between May and November and

DNV says electrification alone won’t reach Paris Agreement climate targets- oil and gas 360

DNV says electrification alone won’t reach Paris Agreement climate targets

World Oil OSLO – A new forecast of the energy transition from DNV has warned that even if all electricity was ‘green’ from this day forward, the world will still fall a long way short of achieving the 2050 net zero emissions ambitions of the COP21 Paris Agreement. DNV’s Energy Transition Outlook, now in its fifth year and launched two

Electric vehicles and renewables will need a dramatic rise in mineral supply, IEA warns- oil and gas 360

Electric vehicles and renewables will need a dramatic rise in mineral supply, IEA warns

CNBC The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met, according to the International Energy Agency. A new report from the Paris-based organization, published Wednesday and entitled “The Role of Critical Minerals in Clean Energy

Texas regulator warns lawmakers against rollback in storm power prices- oil and gas

Texas regulator warns lawmakers against rollback in storm power prices

Reuters The head of Texas’s power regulator told lawmakers on Thursday that any effort to retroactively reduce the power prices levied during a recent storm would lead to lawsuits that the state could lose. The state’s power grid operator raised power prices sharply during a February freeze that pushed two power companies into bankruptcy and others have warned of potential

Texas power regulator rejects request to cut $16 billion in charges during freeze- oil and gas 360

Texas power regulator rejects request to cut $16 billion in charges during freeze

Reuters HOUSTON – Texas’ state power regulator on Friday unanimously vetoed a request to cut about $16 billion from state power charges during the final day of the state’s February cold snap, saying even a partial repricing could have unintended effects. The Public Utility Commission deferred voting on a separate proposal to slice service fees that would have saved retail

Texas grid operator made $16 billion price error during winter storm, watchdog says- oil and gas 360

Texas grid operator made $16 billion price error during winter storm, watchdog says

Reuters  Texas’ power grid operator Electric Reliability Council of Texas (ERCOT) made a $16 billion pricing error in the week of the winter storm that led to power outages across the state, Potomac Economics, which monitors the state’s power market, said. ERCOT kept market prices for power too high for more than a day after widespread outages ended late on