The US continues to be the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia due to extraction of energy from shale rock formations. Daily output exceeding 11 million barrels in the first quarter of this year. The country became the world’s largest natural gas producer in 2010.

Nigeria is listed as the country with the highest incidents of crude oil theft in the world.  According to Oilprice, with as much as 400,000 barrels of crude oil stolen daily, Nigeria is ranked worse than Mexico, Iraq, Russia and Indonesia among the top five countries most plagued by oil theft. The report put Nigeria’s losses to crude theft at $1.7 billion, representing 7.7 percent of Nigeria’s Gross Domestic Product, or more than the country spends on education and healthcare.

Among European Union nations, shale could eventually meet about 10 percent of energy demand, European Energy Commissioner Gunther Gettinger said. He noted companies with reservations about hydraulic fracturing should keep all options available.

A report by the British Geological Survey says Scotland may have 6 billion of barrels of shale oil beneath its territory. As well as oil, Scotland’s central belt has shale gas in place of 80.3 trillion cubic feet.

Turkey is interested in exploring its shale gas potential through a possible joint venture with Exxon Mobil. The Turkish national oil and gas company TPAO, is in talks to form a joint venture with Exxon to extend to potential reserves in far western and southeast Turkey. The country has an estimated 162 trillion cubic feet of natural gas.

The US Energy Information Administration has revised most of its 2014 projections for the US coal sector, basing its decisions on weak electricity demand at home and oversupply in global seaborne markets. The July projection of 951 million tons for 2014 is still up 2.8% compared with 2013 consumption of 925 million. In 2015, the EIA projects US coal consumption will dip to 924.4 million tons due to retirements of coal-fired power plants, slow electricity sales growth and lower natural gas prices.

The top five solar PV markets are forecast to account for almost 80% of the world market this year. The countries include China, the US, Japan, Germany and the UK.

Germany produced a record 50% of its electricity needs through solar panel at the start of June. On Monday June 9th solar power production peaked at 23.1 GW, which equalled 50.6% of total electricity demand

There are now 150 GW (gigawatts) of solar PV installed across the world. The industry has steadily grown over the past several years, increasing from an installed base of only 5 GW in 2005 to almost 200 GW forecast by the end of this year. This year  the major Asian countries (China, India, Australia, Thailand, and Japan) are projected to account for over half of worldwide solar installations.

China’s renewable energy capacity increased from 27.8 GW in 2001 to 183 GW in 2013, and alternative sources are expected to account for more than 20 percent of the country’s total electricity generation by 2020, according to research and consulting firm GlobalData. China’s goal is to add 15 GW of solar photovoltaic (PV), 5 GW of wind, .53 GW of geothermal and 3.3 GW of biomass power by 2015.

In the UK the annual bill for consumers to subsidize renewable energy technologies has soared to more than £2.5bn. The subsidies are required to build expensive offshore wind farms and household solar panels. The average cost for each unit of green electricity has also increased, hitting a record high of £66.97 per MWh in 2012-13, the most recent period for which figures are available. This figure is up from £54.26 the year before.

Sales of electric cars are not going well in China.  In 2012 the government set a target of 500,000 electric vehicles on the road by the end of 2015 and five-million electric vehicles on the roads by the end of 2020. Yet in 2013, Chinese automobile manufacturers sold just 6,900 highway-speed electric passenger automobiles and 1,247 plug-in hybrid automobiles.

 

 

 

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