VICTORIA MEDIA

Business & Financial News email: business(@)victoriamedia.net

Energy

DONG Energy welcomes consent decision for Hornsea Project Two offshore wind farm

DONG Energy has today (16 August) welcomed the decision of the Secretary of State for Energy to grant development consent for the Hornsea Project Two offshore wind farm, located 89 kilometres off the Yorkshire coast. Hornsea Project Two will have a capacity of up to 1.8 gigawatts (GW) and will consist of up to 300 […]

Posted in Energy | Comments Off on DONG Energy welcomes consent decision for Hornsea Project Two offshore wind farm

LUKOIL COMMISSIONS PHASE I POWER SUPPLY AT USINSKOYE FIELD, KOMI

PJSC LUKOIL commissioned Phase I of the auxiliary power supply plant in the Republic of Komi. The 100 MW power plant is designed to satisfy the growing need in power at the Denisovsky license area and will increase utilization of associated petroleum gas. The project, developed and implemented by PJSC LUKOIL’s wholly owned subsidiary, LUKOIL-Engineering […]

Posted in Energy | Comments Off on LUKOIL COMMISSIONS PHASE I POWER SUPPLY AT USINSKOYE FIELD, KOMI

Vattenfall to build a wind farm off Aberdeen

Vattenfall has decided to invest more than SEK 3 billion in a combined wind farm and technology development centre off the Scottish coast The wind farm, known as the European Offshore Wind Deployment Centre (EOWDC), will comprise eleven turbines and have a capacity of 92.4 MW. Apart from generating electricity, it will also be a […]

Posted in Energy | Comments Off on Vattenfall to build a wind farm off Aberdeen

Mitsubishi Heavy Industries and EDF Sign Memorandum of Understanding on Collaboration in Civil Nuclear Power Businesses

Paris/Tokyo, June 28, 2016 – Mitsubishi Heavy Industries, Ltd. (MHI) and EDF, a leading French utility, have agreed a significant step to forge a strategic and global collaborative relationship in the civil nuclear power fields. A memorandum of understanding (MOU) was signed at the World Nuclear Exhibition (Paris) by the top representatives of the two […]

Posted in Energy | Comments Off on Mitsubishi Heavy Industries and EDF Sign Memorandum of Understanding on Collaboration in Civil Nuclear Power Businesses

Boost consumer power in the energy market, urge MEPs

Consumers should be given more power in the energy market, say MEPs in a resolution on a “new energy deal for energy consumers”, voted on Thursday. They recommend collective buying, household power generation, better price comparison tools for all and making it easier to switch energy providers and tariffs. In a non-binding text, intended as […]

Posted in Energy, European Union | Comments Off on Boost consumer power in the energy market, urge MEPs

LUKOIL LAUNCHES CONSTRUCTION OF A NEW LUBRICANTS PLANT IN KAZAKHSTAN

An official groundbreaking ceremony for a new lube blending plant of PJSC LUKOIL was held today in Kazakhstan. The ceremony was attended by Maxim Donde, general director of LLK-International (a wholly-owned subsidiary of PJSC LUKOIL), delegation of the Almaty Region led by its akim Amandyk Batalov, representative of the Ministry of Energy of Kazakhstan and […]

Posted in Energy | Comments Off on LUKOIL LAUNCHES CONSTRUCTION OF A NEW LUBRICANTS PLANT IN KAZAKHSTAN

LUKOIL OPENS LUBRICANT STORAGE AND TRANSFER TERMINAL IN AUSTRIA

A bulk lubricant storage and transfer terminal of PJSC LUKOIL was brought into operation in Vienna today. The opening ceremony was attended by the Chairman of PJSC LUKOIL Board of Directors Valery Grayfer, President of Vienna Provincial Parliament Harry Kopietz and President of Vienna Chamber of Commerce and Industry Walter Ruck. The construction of the […]

Posted in Austria, Energy, Russia | Comments Off on LUKOIL OPENS LUBRICANT STORAGE AND TRANSFER TERMINAL IN AUSTRIA

Gazprom and Srbijagas sign Agreement for scientific & technical cooperation and partnership

Oleg Aksyutin, Member of the Management Committee, Head of Department of Gazprom, and Dusan Bajatovic, Director General of Srbijagas, signed today in Belgrade an Agreement for scientific & technical cooperation and partnership. The Agreement provides for developing the scientific & technical cooperation in such sectors as gas transportation, underground storage and sales, energy efficiency, energy saving, and alternative energy use, as well as in the field […]

Posted in Energy | Comments Off on Gazprom and Srbijagas sign Agreement for scientific & technical cooperation and partnership

Statoil Energy Ventures makes first investment: United Wind

Statoil Energy Ventures announces today that it has invested USD 3 million in United Wind, the leading provider of distributed wind energy leasing solutions. This is the first investment by Statoil Energy Ventures: Statoil’s new USD 200 million venture capital fund dedicated to investing in attractive and ambitious growth companies in renewable energy, supporting its […]

Posted in Energy, Statoil | Comments Off on Statoil Energy Ventures makes first investment: United Wind

Solar, natural gas, wind make up most 2016 generation additions: U.S. Energy Information Administration

Electric generating facilities expect to add more than 26 gigawatts (GW) of utility-scale generating capacity to the power grid during 2016. Most of these additions come from three resources: solar (9.5 GW), natural gas (8.0 GW), and wind (6.8 GW), which together make up 93% of total additions. If actual additions ultimately reflect these plans, […]

Posted in Energy | Comments Off on Solar, natural gas, wind make up most 2016 generation additions: U.S. Energy Information Administration

Europe’s largest onshore wind power project to be built in Central-Norway

Statkraft, TrønderEnergi and the European investor consortium Nordic Wind Power DA will join forces to realise Europe’s largest onshore wind power project in Central-Norway, comprising six onshore wind farms, with a combined capacity of 1000MW. The total investment in the wind farms amounts to approximately EUR 1.1bn. Construction will commence in Q2 2016 and commissioning […]

Posted in Energy, Norway | Comments Off on Europe’s largest onshore wind power project to be built in Central-Norway

Oskarshamn 1 to go offline in 2017

Since October 14, a decision by the owner has been in place not to resume operations at Oskarshamn 2 (O2) and to commence the closure of Oskarshamn 1 (O1) some time during the 2017-2019 period. Today, OKG’s Board of Directors made the decision to decommission O1 in conjunction with the outage in 2017. The reason […]

Posted in Energy, Sweden | Comments Off on Oskarshamn 1 to go offline in 2017

Crude oil prices started 2015 relatively low, ended the year lower

Crude oil prices ended 2015 below $40 per barrel (b), the lowest level since early 2009. Spot prices for the international crude oil benchmark Brent averaged $52/b in 2015, 53% below the level in 2014 and 49% below the average price over 2010-14. Spot prices for West Texas Intermediate (WTI) crude oil were also down […]

Posted in Crude oil prices, Energy | Comments Off on Crude oil prices started 2015 relatively low, ended the year lower

Prices for most oil and natural gas commodities fell significantly during 2015

The energy component of the widely followed S&P Goldman Sachs Commodity Index (GSCI) fell 41% from the start of 2015, a larger decline than the industrial metals, grains, and precious metals components, which declined 24%, 19%, and 11%, respectively, in 2015. Weakness in global economic growth contributed to the overall decline in commodity markets in […]

Posted in Energy, Prices, The U.S. Energy Information Administration (EIA) | Comments Off on Prices for most oil and natural gas commodities fell significantly during 2015