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  • The energy transition would cost 20% more without China, analysis says

    Just how much would it cost to completely decouple from made-in-China clean tech products? According to a new analysis by energy consultancy Wood Mackenzie, the global energy transition would cost an extra $6 trillion—on top of the $29 trillion worth of capital expenditures it estimates would be required through 2050 to reach net-zero carbon emissions. That equates to an additional 20% of the original energy transition bill.

  • Fundamental shift in energy consumption by 2025: Saudi Aramco CEO

    Energy consumption in 2025 will change completely, driven by the interplay of supply and demand, Amin Nasser, CEO of Saudi Arabian Oil Co. (Saudi Aramco), said during the International Petroleum Technology Conference (IPTC). Saudi Aramco is actively delivering on its commitment to energy provision and is poised to enhance both production capacity and daily output, Nasser added. The company is exploring opportunities to secure additional resources and attract investors across various energy sectors, including hydrogen, oil, and gas, in alignment with its primary goal of sustaining growth in gas, oil, and other energy domains.

  • A big merger between oil rivals is gassing up energy consolidation in the US

    Once oil rivals Diamondback Energy and Endeavor Energy Resources announced Monday (Feb. 12) that they are merging to create a $50 billion oil giant in the Permian Basin. The deal is just the latest in a wave of consolidation in the US energy sector. Diamondback is set to acquire Endeavor in a stock-and-cash deal valued at $26 billion. Diamondback stock rose nearly 8% during morning trading following the news. Its market cap currently sits at $29 billion.

  • Clean energy could be ‘closer than ever’ after a nuclear fusion machine smashed a record

    Commercially viable nuclear fusion is always 20 years, or 30 years, or half a century away, or so aspirational minds tell us. It sometimes seems like a fata morgana, hovering on the horizon, just out of reach. But hopefully that’s where the mirage analogy ends; after all, accomplishments like that recently made by JET are small-but-significant steps towards the hope of a clean energy future.

  • Saudi minister says energy transition behind Aramco capacity halt

    Saudi Arabia decided to halt its oil capacity expansion plans because of the energy transition, its energy minister said on Monday, adding that the kingdom has plenty of spare capacity to cushion the oil market. The Saudi government on Jan. 30 ordered state oil company Aramco (2222.SE), opens new tab to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per day (bpd), 1 million bpd below a target announced in 2020, which was set to be reached in 2027.

  • Saudi energy minister reveals why Aramco cut oil target by 1m bpd

    Saudi Arabia’s minister of energy, Prince Abdulaziz bin Salman Al Saud, revealed Monday why state-oil company Aramco cut its oil output by 1 million barrels per day (bpd) at the end of last month. On Jan. 30, Aramco, the world's biggest corporate crude producer, announced that the Energy Ministry had ordered it to halt its oil expansion plan and set a minimum sustained production capacity of 12 million bpd, 1 million bpd below its target announced in 2020 to be reached in 2027.

  • Rystad Energy Analyzes Saudi Arabia’s Pause in Oil Capacity Expansion Amid Market Uncertainty: Implications for Offshore Projects and Supply Stability

    Saudi Aramco’s focus on offshore oil and gas expansion projects, including the Dammam and Berri, Marjan, and Zuluf developments, underscores its commitment to meeting production targets. However, the revised mandate necessitates a reevaluation of future investments, with potential implications for projects like Safaniya and Manifa. The decision also has implications for the composition of Saudi Arabia’s oil mix, as increased offshore volumes are expected to lead to a greater share of heavy grades. This shift underscores the importance of offshore expansion to maintain the country’s overall production levels.

  • Alat: Spearheading Sustainable Technology Manufacturing with Clean Energy in Saudi Arabia

    Through strategic partnerships with international manufacturing and technology leaders, Alat endeavors to transform the global industrial landscape by offering sustainable solutions powered by clean energy. By manufacturing a diverse range of products across vital sectors such as robotics, communication systems, and digital entertainment, Alat aims to strengthen local innovation, research, and development while creating job opportunities and boosting economic growth.

  • Conflict in the Middle East is affecting a key energy lifeline for Europe. How big is the risk?

    Europe relied for decades on gas transported through pipelines from Russia. That came to an abrupt end after Russia invaded Ukraine and cut off most of its supply. LNG became a lifeline, with the German government, for example, hastily lining up floating import terminals on its northern coast. Last year, 12.9% of Europe’s LNG went through the Red Sea from suppliers in the Middle East, mainly Qatar. That means “an extended shut-in of the Red Sea route from the Middle East poses a supply risk to Europe,” said Kaushal Ramesh, vice president at Rystad Energy.

  • Saudi Arabia in prime position for green hydrogen in global energy landscape

    “The plan aims to produce 1.2 million tons of green hydrogen and to supply 10% of the global demand for hydrogen by 2030,” they explained. “Furthermore, Saudi Arabia Public Investment Fund (SAPIF) has been investing in several energy projects globally, including a joint venture with Power and Air Products to develop a $5 billion green hydrogen-based ammonia production facility in NEOM, Saudi Arabia. The facility will have a capacity of 1.2 GW and will produce 650 tons of green hydrogen per day.”