• 2 hours PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 4 hours Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 6 hours Syrian Rebels Relinquish Control Of Major Gas Field
  • 7 hours Schlumberger Warns Of Moderating Investment In North America
  • 8 hours Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 9 hours Energy Regulators Look To Guard Grid From Cyberattacks
  • 11 hours Mexico Says OPEC Has Not Approached It For Deal Extension
  • 12 hours New Video Game Targets Oil Infrastructure
  • 14 hours Shell Restarts Bonny Light Exports
  • 15 hours Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 21 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 1 day British Utility Companies Brace For Major Reforms
  • 1 day Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 1 day Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 1 day Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 1 day OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 1 day London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 2 days Rosneft Signs $400M Deal With Kurdistan
  • 2 days Kinder Morgan Warns About Trans Mountain Delays
  • 2 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 2 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 3 days Conflicting News Spurs Doubt On Aramco IPO
  • 3 days Exxon Starts Production At New Refinery In Texas
  • 3 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 4 days Enbridge Pipeline Expansion Finally Approved
  • 4 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 4 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 5 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 5 days Aramco Says No Plans To Shelve IPO
Kobe Steel Scandal Could Rattle Nuclear Industry

Kobe Steel Scandal Could Rattle Nuclear Industry

The scandal at Japan’s Kobe…

Is The Aramco IPO On The Brink Of Collapse?

Is The Aramco IPO On The Brink Of Collapse?

Conflicting news suggests that Saudi…

Report Predicts Explosion in Offshore Wind Energy Sector by 2020

Report Predicts Explosion in Offshore Wind Energy Sector by 2020

The research and consulting firm, GlobalData, has released a new report which takes a detailed look at the global offshore wind power market. The report states that due to strong support and investment from the UK, a general trend to move away from fossil fuels, and declining costs of manufacture and installation, the offshore wind power sector will explode over the next decade.

Installed capacity at the end of 2012 was 5.1GW, but this is predicted to grow to 54.9GW by the end of 2020, an annual growth rate of 34.5%.

The UK is the leader in the offshore wind energy market with an installed capacity of 2.7GW, more than half of the total capacity in the world.

Related article: Has Belgium Cracked the Problem of Storing Wind Power Electricity?

The UK government rests many of its hopes for achieving the 2020 renewable energy targets on its offshore wind sector, with major expansions planned which will see its installed capacity reach 21GW by 2020; an increase of nearly 800% from current levels.

Several other countries have been identified by the report as expected to invest heavily in the installation of offshore wind farms during the next decade. Germany already has ambitious plans to significantly develop its offshore wind sector, announcing targets of 25GW of capacity to be installed by 2030, and 95GW by 2050.

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