Rystad Energy

Americas

Oil bankruptcies rise in the third quarter

The number of bankruptcies in the energy sector rose during the third quarter as the coronavirus pandemic continued to take its toll on the oil and gas industry.

Asia

Indonesia plays hardball with Repsol over gas pricing

Repsol’s potential fast-track development of its Kali Berau Dalam (KBD) giant gas discovery in Indonesia is at risk as the company struggles to agree an attractive sales price with the government.

UK

UK renewable energy capacity set to double by 2026, when offshore wind will overtake onshore

The UK’s ambitious goal to double its renewable energy capacity by 2030 will be achieved already by 2026, a Rystad Energy analysis shows, spurred by a wave of mostly wind power investments. Total installed capacity of solar and wind power plants will climb to 64 gigawatt (GW) in 2026 from close to 33 GW today, with offshore wind taking over the throne as the country’s biggest green energy source.

Renewables/Energy Transition

Europe could see $35bn in CCS spending till 2035, with UK dominating

It’s been a long and costly two decades of carbon capture and storage (CCS) studies and test centers. Now Europe has reached a stage where big-scale developments make financial sense and could trigger up to $35 billion in development spending until 2035 – by which time as much as 75 million tonnes of CO2 could be captured and stored per year on the continent, a Rystad Energy analysis shows.

Asia

ExxonMobil eyes foothold in Vietnam LNG market

ExxonMobil is exploring opportunities to invest in LNG-to-power projects in Vietnam as the country faces chronic electricity shortages and Hanoi welcomes US companies to fix a trade imbalance.