In a rapidly changing energy landscape marked by the growing momentum of clean and renewable energy sources, Chevron and Exxon Mobil have made significant strategic moves by announcing their acquisitions of major oil and gas companies. While the world is shifting toward cleaner energy alternatives, these acquisitions suggest that these oil giants are doubling down… Continue reading Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions

The White House has designated 31 technology hubs across the United States in an effort to enhance American competitiveness in the technology sector. These hubs will have the opportunity to compete for grants ranging from $40 million to $75 million each. The move is authorized under the CHIPS and Science Act, signed by President Joe… Continue reading White House announces 31 tech hubs to focus on AI, clean energy and more

The International Energy Agency (IEA) has stated that demand for oil, coal, and natural gas is expected to peak before the end of the decade, with the fossil fuels’ share in the world’s energy supply dropping to 73% by 2030. This shift is attributed to the “phenomenal rise of clean energy technologies” like wind, solar,… Continue reading Global demand for oil, coal and gas set to peak by 2030, energy agency IEA says

Pacific Gas and Electric (PG&E), the largest utility in the U.S., is working on an ambitious plan to move 10,000 miles of power lines in fire-prone areas underground. This move is aimed at reducing the risk of ignitions caused by power lines, which have been responsible for deadly wildfires in the past. While undergrounding power… Continue reading Why burying power lines is an effective, but very expensive way to prevent wildfires

Chevron has announced its agreement to acquire Hess in a stock deal worth $53 billion, marking the second major merger among leading U.S. oil companies following Exxon Mobil’s $60 billion bid for Pioneer Natural Resources earlier in the month. This move intensifies the competition between Chevron, the second-largest U.S. oil and gas producer, and Exxon,… Continue reading Chevron to buy Hess Corp for $53 billion in second oil mega-merger in weeks

The wind energy industry is facing significant challenges, particularly related to supply chain reliability, and this has raised concerns among both stock analysts and industry leaders. Siemens Energy, a major player in the wind energy sector, garnered attention when it abandoned its profit forecast earlier this year. The primary reason behind this move was costly… Continue reading Turbine troubles have sent wind energy stocks tumbling — and a slew of issues remain

The solar industry faced a significant decline in stock prices after solar product manufacturer Solaredge issued a warning about weakened demand in Europe, adding to the challenges the renewable energy sector has already faced this year. The Invesco Solar ETF (TAN) plummeted by 26.7% on Friday, reaching its lowest level since July 2020, and other… Continue reading Solar stocks tumble to 3-year low as Solaredge drops nearly 30% on demand warning

The Pyxis Ocean, a cargo ship, is fitted with two large, rigid sails known as WindWings, measuring 37.5 meters tall, which use wind power to help propel the vessel, aiming to reduce its fuel consumption and carbon emissions. This technology has been added to the ship with the goal of cutting fuel use by about… Continue reading Wind-powered cargo ships with sail-like ‘wings’ could reduce fuel use by 30%

The Swedish green steel consortium, Hybrit (Hydrogen Breakthrough Ironmaking Technology), conducted a power procurement test to assess the impact of onsite hydrogen (H2) storage on the cost of green hydrogen production. Hybrit, a collaboration between Swedish utility Vattenfall, mining group LKAB, and steel producer SSAB, used 4.5 MW of electrolyzers at its Luleå H2 storage… Continue reading Hydrogen storage slashes the cost of grid-connected green H2 production by nearly half, reports steel consortium

A new report from the International Energy Agency (IEA) highlights the need to add or replace 49.7 million miles of transmission lines by 2040 for countries to meet their climate goals and ensure energy security. This scale of expansion in global transmission lines will require an annual investment of over $600 billion per year by… Continue reading The world has to add or replace 50 million miles of transmission lines by 2040, IEA says

United Airlines has projected that higher jet fuel costs and the suspension of its Tel Aviv flights during the Israel-Hamas conflict will impact its profits in the last quarter of the year. The Chicago-based carrier estimates adjusted earnings for the current quarter to be between $1.50 and $1.80 per share, which falls short of analysts’… Continue reading United Airlines says pricier fuel, war in Middle East will weigh on profits

The article you provided is about Southeast Asia’s transition to renewable energy to address increasing energy demand and reduce reliance on fossil fuels. While fossil fuels currently dominate the region’s energy mix, several countries in Southeast Asia, including Malaysia, Vietnam, Singapore, the Philippines, and Indonesia, are taking steps to develop renewable energy sources, such as… Continue reading Southeast Asia looks to renewable power for energy security