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Latest Energy News | World News

  • Norway’s NADL and Rosneft Sign Long-Term Deals, Despite Sanctions

    Published: 01 September 2014

    Russian oil giant Rosneft has just bought nearly one-third of the Norway’s North Atlantic Drilling Ltd. (NADL), which wants to do more business with the Kremlin-run oil company despite Western sanctions.In deals first announced in May and signed over the past three months, NADL will let Rosneft use six Norwegian offshore rigs to drill for oil until 2022, and simultaneously sell the Russian company 30 percent of its shares for $0.25, for a total of $4.25 billion.The deals went through despite two sets of sanctions imposed by the United States and the European Union on Moscow in response to its…

  • How Old Tires Can Help Build Better Batteries

    Published: 01 September 2014

    We’ve already seen the news about how researchers at the Massachusetts Institute of Technology have recycled dead car batteries to create clean solar power. Now scientists at the Oak Ridge National Laboratory are cannibalizing old tires to help lithium-ion batteries power electric cars and store solar and wind energy.Rubber tires contain a substance called pyrolytic carbon black, and by extracting it from discarded tires and modifying its microstructural characteristics, a team of researchers is building a better anode for batteries. (Anodes are negatively charged electrodes used for storing lithium while the battery is charging.)Oak Ridge, a division of the U.S.…

  • $525 Million For This "Sleepy" Oil and Gas Play

    Published: 29 August 2014

    It can be dangerous to play "follow the money" when it comes to commodities investing--watching where big investors put their dollars, and then attempting to go along with the trend.Sometimes such investments by big funds or private equity groups turn out to be little more than shots in the dark. Or even worse, top-of-the-market bets on hot sectors, which collapse when the industry turns.But one recent trend in private equity buying in the energy space seems very different. Namely, a move toward mature acreage in shallow-water offshore plays globally.This week we got another big example. When energy investment superpower Riverstone…

  • Shell Shedding Oil Assets In Nigeria To Cut Costs, Raise $15 Billion

    Published: 28 August 2014

    Royal Dutch Shell has begun selling five major oil assets in Nigeria as part of a plan to raise profits and cut $15 billion in costs by the end of 2015.It is one of several large energy companies shedding assets in oil-producing countries with the goal of increasing profits and cutting costs. Several companies have focused on selling properties in Nigeria -- where sabotage and oil theft has been rising --  which has cost the county billions in reduced production.In 2013, Shell offered for sale its shares in a key Nigerian pipeline, the Nembe Creek Trunk Line, as well as…

  • Newly Built CO2-Emitting Plants Outpace Closings

    Published: 28 August 2014

    Governments around the world may be enacting measures to reduce greenhouse gas emissions, but the energy industry isn’t on board with those goals, according to a new report from researchers at Princeton University and the University of California at Irvine (UCI).Their report, published in the journal Environmental Research Letters, says existing power plants fired by coal and gas will generate more than 300 billion tons of atmosphere-clogging carbon dioxide over the next 40 years.They calculate that “committed” emissions – those coming from plants already in operation – will rise by about 4 percent each year as industry builds even more…

  • Rosneft Seeks, and Gets, Relief From Sanctions

    Published: 27 August 2014

    Rosneft, Russia’s largest oil company, has received a new loan from Promsvyazbank to help it weather U.S. and European Union sanctions, and may yet get financial help from the Kremlin. But so far the assistance doesn’t add up to the amount the state-owned oil company says it needs to pay its debts.Vladislav Khokhlov, Promsvyazbank’s chief financial officer, said Aug. 26 that Rosneft got loans of an unspecified size from the Russian bank because it couldn’t get access to cash in the West. Also getting a loan was Lukoil, another Kremlin-owned oil giant targeted by the sanctions, he said.On the same…

  • Suddenly, Nuclear Fusion Is An Attractive Investment

    Published: 27 August 2014

    Two major tech investors have plowed $1.5 million into Helion Energy to help it develop a technology that hasn’t worked, despite decades of research and millions of research dollars.Most of the money, $1.25 million, was given by Mithril Capital Management, a venture capital firm in San Francisco. Mithril co-founder Ajay Royan says his company pays special interest to “state-shift companies,” those that represent revolutionary change in their industries. Helion, he said, is one of them.No company, big or small, has yet to build a reactor that can sustain nuclear fusion, a process that generates more energy than it consumes. Still,…

  • ‘Fantastic Voyage’ Comes True At Labs Of Stanford University

    Published: 26 August 2014

    No one has managed to shrink an adult human to a size small enough to travel another person’s circulatory system, but the hardware’s ready, and it’s wireless.Ada Poon of Stanford University reports that she’s come up with a way to run minuscule electronic medical devices deep inside the human body and power them wirelessly. That would be a major benefit to patients needing nerve stimulators, cardiac pacemakers or even some gadgets that haven’t yet been invented.Poon, an assistant professor of electrical engineering, says she’s been trying for years to shed the unwieldy batteries and recharging devices that limit the use…

  • Africa Will Add More Renewable Energy In 2014 Than In The Last 14 Years Combined

    Published: 26 August 2014

    Sub-Saharan Africa will add more renewable energy projects in 2014 than it has in the last 14 years, according to research firm Bloomberg New Energy Finance.As Bloomberg reports, Africa is expected to add about 1.8 gigawatts of renewable energy capacity, a category which includes geothermal, wind, and solar but excludes major hydroelectric power plants. According to the statement from Bloomberg New Energy Finance, the rise in renewable energy in Africa has occurred due to the fact that there’s a growing need for power in Africa and the fact that wind and solar energy costs have dropped significantly in recent years.…

  • Iran Says No Need For IAEA To Visit Suspected Weapons Site

    Published: 25 August 2014

    Iran appears to be backpedaling on its recent willingness to cooperate with international nuclear inspections, rebuffing United Nation’s nuclear inspectors who want to return to the country’s military installation in Parchin, a suspected nuclear weapons component testing site. Iran’s Islamic Republic News Agency (IRNA) on Aug. 25 quoted Gen. Hossein Dehghan as saying that when representatives of the UN’s International Atomic Energy Agency (IAEA) visited Parchin previously, they had “accepted that nothing happened in Parchin.”Iran has repeatedly denied that the facility conducts research on nuclear weapons or that it is anything other than a conventional military base. Parchin is situated…