Investment in UK North Sea crude oil and natural gas projects could drop as much as 80% by 2017 as the collapse in global oil prices forces the industry to cut back.

Oil-driven economy Norway said lower crude oil prices are leading to an expected 12% decline in its energy investments this year.

US shale oil producers lost more than $30 billion during the first half of 2015, as the prolonged slump in global crude oil prices takes its toll. Bankruptcies and restructuring are on the rise as independent oil and gas companies in that country do what they can to survive.

Iran is hoping to supply the European Union with natural gas by shipping liquefied natural gas (LNG) to Spain.  Industry xperts believe it will take two years to build LNG export terminals in Iran.

The US state of California has passed legislation that mandates electricity providers to source 40% of their retail sales from renewable energy sources — such as wind and solar — by 2024, 45% by 2027 and 50% by 2030.

India has the world’s first fully solar powered airport at Kochi (Cochin), Kerala. The 13 megawatt solar photovoltaic plant can generate 50,000 to 60,000 kilowatt-hours of electricity for the airport’s daily power requirements.

New research from the University of Kansas in the US finds that wind-turbine farms become less efficient as they grow in size; this information is expected to assist with wind farm planning in the future and help maximize the energy generated by wind. Once wind-turbine farms reach a certain size, they produce diminishing returns. The turbines can only realistically produce 1 megawatt of electricity for each square kilometer, an estimate that is much lower than previous attempts which did not take the diminishing effect into account.

Automotive supplier Bosch is offering a new heat-pump for heating and cooling electric vehicles that it says can enable an increase in effective range of up to 25% without modifications to the battery.

German automaker BMW announced it will convert all of its models to electric drive trains, range-extending engines, and plug-in hybrids over the next decade in response to a coming series of strict EU carbon emissions laws.

Russian Prime Minister Dimitry Medvedev has mandated that all of that country’s vehicle fueling stations must include chargers for electric vehicles by November 2016. Since 2011 only 500 EVs have been sold in Russia.

 

with h/t Tom Whipple

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