Energy transition juggernaut surely now unstoppable as investment surges
On August 25, the United Nations General Assembly (UNGA) adopted a resolution proclaiming that January 26, 2024 will be dubbed the International Day of Clean Energy.
investment
TIS Manufacturing to create 20 Aberdeen jobs with £1m investment
An Aberdeen-based manufacturing firm is set to create "approximately 20 jobs in the city" following an eight-figure investment in its renewables division.
Japan to drive low-carbon energy investment into Western Australia
The Western Australian government today signed a new Memorandum of Understanding (MOU) with the Japan Bank for International Cooperation (JBIC) covering hydrogen, ammonia, low emission technology and decarbonisation.
Low-carbon investments to rise by $60bn in 2023 as hydrogen and CCUS spending surges
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments, but helped by a significant rise in funding for hydrogen and carbon capture, utilisation and storage (CCUS) infrastructure, Rystad Energy research shows.
Hydrogen projects in Australia are struggling to lure investors
Australia has only one committed hydrogen project out of a vast pipeline of proposals worth A$266 billion ($178 billion), showing the challenge in becoming a major exporter of the zero-carbon but still unproven fuel.
Russian upstream investments set to plunge by $15 billion as sanctions bite, says Rystad
The financial impact of Western sanctions and the wide scale exodus of foreign partners from the Russian oil and gas sector are beginning to materialise, with upstream investments set to sink to $35 billion in 2022, according to Rystad Energy research.
R&D spend relief increase a boost to UK’s energy transition, says expert
An innovation expert has welcomed a move to up the incentive for big business to spend on R&D, saying it could be a boon in the UK’s quest to be a leader in the energy transition.
Gas key for energy transition as Indonesia seeks $179bn upstream investment
Natural gas is seen as an essential component of Indonesia’s energy transition with the government targeting to significantly boost upstream investment. Officials estimate $179 billion is needed to meet 2030 oil and gas production targets in Southeast Asia’s largest economy.
Indonesia’s Saka Energi plans $1.5bn upstream spend
Indonesian upstream player Saka Energi is planning to invest up to $1.5 billion between 2022 and 2028 to develop various assets in Indonesia and abroad as it seeks to boost oil and gas production.
Ukraine invasion boosts green hydrogen investment by £64.9 billion
The war in Ukraine has spurred investment in green hydrogen production as blue and grey alternatives see overhead costs soar, Carbon Tracker report finds.
As demand surges Indonesia needs radical action and $200bn investment to revive upstream oil and gas
Unlike most governments in the economically developed Western world, Indonesia’s leaders are crying out for more upstream oil and gas investment. However, even as demand is projected to rise up to four times by 2050, Southeast Asia’s biggest economy is struggling to convince energy investors to come.
IEA says Indonesia needs to invest $8bn per year on energy transition
To hit its 2060 net zero pledge, Indonesia will need to almost triple energy investment by 2030, the International Energy Agency (IEA) said in its latest report. That means an extra $8 billion in investment a year by the end of this decade compared with a business-as-usual pathway.
Boost for Indonesia as BP signs deep-water PSCs
In a boost for Indonesia, BP (LON:BP) has today signed the 30-year production sharing contracts (PSC) for Agung l and Agung ll deep-water oil and gas exploration blocks with the government of Indonesia. The areas are underexplored with significant potential for natural gas resources, close to expanding gas demand markets.
TotalEnergies, Adani team up for multi-billion dollar Indian hydrogen plans
French energy major TotalEnergies and Indian billionaire Gautam Adani’s conglomerate are partnering to fund billions of dollars worth of green hydrogen development in India as the world’s third-largest polluter seeks to decarbonise.
India’s ONGC pledges to boost exploration investment by 150% to $4bn
India’s Oil & Natural Gas Corporation (ONGC) said it targets to boost exploration investments by 1.5 times in the next three years to $4 billion. Significantly, ONGC is heading the South Asian nation’s oil and gas hunt in unexplored areas and is seeking international partners to bring challenging fields to production to make up for the falling output from its ageing fields.
Shell changes tune on windfall tax, says it will increase ‘uncertainty’
Oil giant Shell (LON: SHEL) has backtracked on its previous optimism about the UK Government’s new energy profits levy.
North Sea chiefs make plea for ‘stability’ ahead of crucial windfall tax vote
Senior figures in the energy industry have underlined the need for a “stable regime” ahead of a key vote in Westminster today.
Higher prices ‘undoubtedly’ encourage investment as North Sea eyes up to 20 billion more barrels
Energy Voice talks to Jason Fox, Managing Partner, London, and Alastair Young, Partner, at Bracewell (UK) LLP on the future of North Sea investment as Brent crude oil remains at around $100.
Indonesia needs $25bn for green hydrogen
The Indonesian government estimates that Southeast Asia’s largest economy will need investments of up to $25.2 billion to develop green hydrogen from 2031 to 2060. Significantly, state-backed Pertamina is looking to invest some $11 billion to help accelerate the clean energy transition, including hydrogen developments, over the next five years.
China oil giant plans record $31bn spend on energy security push
Sinopec will spend record amounts this year to increase oil and gas drilling as China aims to bolster its energy security and insulate itself from volatile global commodity markets. Significantly, the news comes as the Chinese giant pauses new investment in Russia projects over sanctions risk.
Shell to invest up to £25 billion in UK energy system over next decade
Shell has announced it will invest up to £25 billion in the UK energy system in the coming years.
Bigger Faster Better #1: Industrial clusters key in race to cut emissions
The first episode of the Bigger Faster Better series from Energy Voice, in association with Womble Bond Dickinson, starts a journey of exploration to uncover which countries are developing the most innovative and scalable energy solutions. Over the course of the series, we examine how the UK stacks up in its race to cut emissions and move towards Net Zero, against other nations across the globe.
North Sea ‘falling behind’ as global offshore investment returns to pre-pandemic levels
The North Sea is one of just a handful of regions “falling behind” as offshore oil and gas investment returns to pre-pandemic levels around the world.
Global nuclear investments on the rise: $91 billion to be spent in next two years
Nuclear power can be a polarising energy source, but as countries seek cleaner, low-carbon alternatives to fossil fuels, investments in nuclear are projected to soar in the coming years, particularly in China, India and Russia, the latest research from Rystad Energy shows. The consultancy estimates $91 billion will be invested in the global nuclear sector by the end of next year.
Ineos-backed hydrogen fund splurges £50m in first five months
A pioneering clean hydrogen investment fund has paid out around £50 million since starting up.