• 1 hour LNG Glut To Continue Into 2020s, IEA Says
  • 3 hours Oil Nears $52 With Record OPEC Deal Compliance
  • 6 hours Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 8 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 10 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 4 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 5 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 7 days U.S. Oil Production To Increase in November As Rig Count Falls

Breaking News:

LNG Glut To Continue Into 2020s, IEA Says

Energy Giant Bets On Battery Breakthrough Within 5 Years

Energy Giant Bets On Battery Breakthrough Within 5 Years

Utility giant Duke Energy expects…

A New Oil Crisis Is Developing In The Middle East

A New Oil Crisis Is Developing In The Middle East

As Iraqi-Kurds prepare to fight…

Iceland Offers a Shining Example of a Sustainable Economy

Iceland Offers a Shining Example of a Sustainable Economy

Having hit rock bottom in 2008 as its banking system collapsed and it had to declare bankruptcy, Iceland is picking itself up and now exists of a modern model of the kind of sustainable economy that most European countries can only dream of achieving.

Iceland has become an attractive destination for energy investors and energy intense industries, a result of its cheap, 100% renewable energy supply, which has helped to slash carbon emissions and eliminate fuel poverty.

UK politicians are still arguing over decarbonisation targets, which Iceland managed to sort out decades ago, and other energy policy debates such as rising gas prices, which Iceland has also managed to virtually immunise itself against.

Related article: Iceland Credits Green Energy for GDP Growth

Iceland’s renewable energy sector has advanced so far that it is even considering exporting excess renewable energy to Europe. Last year the UK and Iceland signed a memorandum of understanding to lay an interconnecting cable between the two countries that would allow the UK to import energy from Iceland. An especially attractive idea if Iceland continues with plans to use new deep geothermal drilling technology to increase its renewable energy generation capacity from 17GWh to 40GWh.

With the completion of the cable Icelandic power could provide a back-up to the UK’s offshore wind farms, and even allow the UK itself to export excess energy to other European countries.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News