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US to fund projects for fuel cell technologies

The US Department of Energy has announced up to $32.5 million in federal funding for cost-shared research and development to advance solid oxide fuel cell technologies. SOFC R&D aims to create efficient, cost-effective electricity generation from  domestic coal and natural gas resources, with minimal use of water and near-zero atmospheric emissions of carbon dioxide and pollutants.

Global oil demand to increase in 2018, says IEA

In 2018, global oil demand is expected to increase by 1.5 mb/d, reaching 99.3 mb/d, from the estimated 97.8 mb/d in 2017, IEA said on its new Oil Market Report. The demand growth increase was the only significant change in the past month, with crude oil prices relatively stable for several weeks.

BP foresees strong compliance with 2020 sulphur cap

More than 90% of the world’s shipping fleet will comply with IMO sulphur cap entering into force in 2020, while only about 9% of the industry is likely to be non-compliant as the rule comes in effect, said the London-based oil and gas major BP, amid industry concerns of potential non-compliance.

The future of fuel oil towards 2020

Scrubbers will only play a minor role by the implementation date of the IMO 0.5% sulphur cap, in 1 January 2020. With this view in mind, there will be a significant demand shift across the barrel in less than two years’ time and fuel oil trade will be fundamentally affected, Gibson said in its weekly report.

Sri Lanka to get its first LNG terminal

As Sri Lanka Ports Authority Chairman Dr. Parakrama Dissanayake said, a Memorandum of Understanding between Sri Lanka, Japan and India on a LNG terminal and Floating Storage Regasification Unit will be signed  next week and the feasibility study will begin soon. 

More investments are required to improve FLNG projects

More investments are required for FLNG projects, in order to ensure project sanctioning and success. Despite the FLNG liquefaction long presences, only three units are in the water and operational or under commissioning as of 2018.

Energean sign deal with banks for Karish Development Project

Energean Oil & Gas announce that Energean Israel signed a Senior Credit Facility of up to $1.275 billion with Morgan Stanley, Natixis, Bank Hapoalim and Societe Generale as Mandated Lead Arrangers. The Facility Agreement will fund the development of the Karish offshore gas field over the next three years, with first gas production expected to set out in early 2021.

Natural gas to be the most consumed fuel in US industrial sector

EIA informed that expects a 40% increase in natural gas consumed in the US industrial sector, from 9.8 quadrillion British thermal units (Btu) in 2017 to 13.7 quadrillion Btu in 2050. By 2020, industrial natural gas consumption will surpass the previous record set in the early 1970s.

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