Africa

Cal on February 9th, 2016

Morocco’s first solar power plant started generating electricity last week. With an electricity production capacity of 160 megawatts, Noor 1 is on the edge of the Sahara desert, around 20 km (12 miles) outside Ouarzazate. The facility stores thermal energy from the Sun’s rays and uses it to activate steam turbines that produce electricity. The project’s […]

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Cal on February 4th, 2016

ExxonMobil forecasts in the 2016 edition of its annual Outlook for Energy that by 2040 energy efficiency gains and increased use of renewable energy sources and lower carbon fuels, such as natural gas, will help reduce by half the carbon intensity of the global economy. Worldwide offshore oil rig utilization has fallen to 57% from […]

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Cal on January 24th, 2016

Last week the 27 member states of the European Union agreed to invest €217 million in 15 key trans-European energy infrastructure projects, mainly in Central and South Eastern Europe. The selected projects will increase energy security and help end the isolation of several Member States from Europe-wide energy networks. 9 of the projects relate to […]

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Cal on January 19th, 2016

Much of the world’s crude oil production is being sold at prices well below the European and US futures benchmarks which are now around $29 a barrel. This is because either most crude is of lower quality than the benchmark specifications or there are large shipping costs involved in getting the oil to refineries. In […]

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Cal on January 5th, 2016

Global economic growth will be “disappointing” in 2016, the head of the International Monetary Fund announced. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the US and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. World crude oil prices fell 30% to […]

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Cal on December 27th, 2015

China’s provinces are still handing out large numbers of permits to build new coal plants to enhance their regional growth figures even as the country is experiencing its worst electricity oversupply problem. Electric power utilities are among the biggest taxpayers and local governments are eager to approve more plants, in hopes of increasing their tax […]

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Cal on December 21st, 2015

Despite the list price of crude oil averaging around $35 barrel, much oil is selling for far less in the world. Some Mexican crude is going at less than $28 a barrel, an 11-year low. Iraq is offering its Basra Heavy crude to some Asian buyers at $25 and in Western Canada some oil is […]

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Cal on December 15th, 2015

Chinese companies are building 92 coal-fired power stations in countries around the world having a combined capacity of 107 gigawatts. The Philippines is set to open 23 coal-fired power plants over the next five years to meet rising electricity demand in that country. Executives at the world’s largest oil companies are wondering how much worse the […]

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