Small Energy Companies Gain Market Share in U.K.
The small energy provides in the U.K. currently hold around 13.4% of Britainís market for household energy supply. This is a steep increase from the 2.6% that they collectively held in 2014. Analysts say that the success stories of small suppliers of energy are growing as consumers are becoming increasingly disgruntled over the lack of services offered by the bigger suppliers.
More than 860,000 accounts were registered in 2015 till July, collectively by First Utility and Ovo Energy, two indepen
Date: Sep 23
Dropping Oil Prices Might Push Producers Out of the Market
Oil and gas exploration in New Zealand is expected to witness a sharp decline due to prediction about drop in oil prices. In the coming summer season New Zealand has reported no offshore drilling projects. †The oil industry reported that the shrinking drilling activity has been a result of the end of several projects. The industry further accepted that many oil companies are cutting down on costs. As Chinaís economy is witnessing a slowdown the oil prices across the globe are plummeting. This is
Date: Sep 23
Crude Oil Output in China Could Fuel Cynicism in Oil Market
The output of crude oil in China went up by 4.90 per cent to reach 18.3 million tons in the month of August 2015, in comparison with the year before. According to a report by the National Development and Reform Commission, the production of Chinese refined products went up by 3.70 per cent in August this year to reach 25.15 million tons from the previous year. The consumption of refined products in China reported an increase of 2.20 per cent last month to settle at 24.52 million tons compared to
Date: Sep 22
Oil Prices Drop by 2 Percent
Prices of crude oil dropped by as much as 2 per cent on Tuesday amid concerns over the fact whether the overall demand will be sufficient to address sky rocketing surplus. This came before the weekly survey on the inventory levels in the United States.
Price volatility has increased this week owing to the fact that the crude outlook has been rendered unclear by information that indicates that after losing out on over half its value during the duration of a year, the market could possibly have b
Date: Sep 22
Stanford Engineers Develop a Cool Way to Boost Efficiency of Solar Cells
The global solar industry is growing rapidly. This rapid expansion of the global solar industry is driving innovation. Independent researchers and organizations around the world in the industry are focused on inventing tools and techniques that will drive the efficiency of the solar power technology. At present, the trend is to drive the efficiency of solar panels has become intense and companies have come up with several ways to boost the efficiency.
Many firms have come up with solar panel de
Date: Sep 22
Republican-led House Panel Votes for Lifting Ban on Crude Oil Exports in the US White House Opposes the Bill
On Thursday, a bill was endorsed by a key U.S. House committee regarding the lift on the four-decade old ban on the export of crude oil from the country. The bill is facing opposition from the White House but lawmakers are supporting it.
So far, the legislation, having seen approval from the House Energy and Commerce Committee, has sought the support of three more supporters to the earlier 28 Republicans supporting it. The White House is opposing the bill, and argues whether the decision to end
Date: Sep 16
Republicans Oppose the New Safety Rules for the Oil Drilling Industry
The Republican administration criticized the Obama administrationís move to toughen the norms for offshore drilling. They said the new rules would be expensive for drillers and therefore turn out to be a threat to the oil and gas exploration projects along the national coasts.
The Interior Departmentís standards to bridge the gap that exists in blowout preventer rules, a tool made for shutting a defunct well. In 2010, when such a device failed miserably as the BP gave up it led to a huge oil sp
Date: Sep 16
Kirigami-inspired Solar Panels Demonstrate Better Efficiency
Worldwide, the rising demand for renewable energy is fuelling innovation. We have seen it all Ė butterfly shaped panels, panels that are transparent, panels that are flexible and mold to an existing structure, etc. Researchers and scientists in the global solar industry are busy finding ways to improve efficiency and aesthetics of solar panels. Hence, a lot of product design and innovation can be observed in this industry.
Solar energy is available in abundance to us. However, at present, the e
Date: Sep 15
Oil Reaches US$45.92 per Barrel up 4.0%
Oil prices were up 4.0% on Thursday while traders spent most of their attention on the growing demand by the U.S. for gas. The demand had overtaken the large surplus storages of U.S. crude oil inventories.
The weakening dollar additionally created affording space for the dollar-denominated crude to the traders that handled the euro. The greater Wall Street equity prices amplified the bullish sentiment in the U.S. oil markets.
Futures for U.S. crude oil closed up US$1.77 at US$45.92 per barrel.
Date: Sep 11
IoT to Drive Innovation in Renewable Energy Sector
The renewable energy sector is growing remarkably in both developing and developed nations. Countries are getting ambitious and upping their targets for renewable energy capacity. This shows how much the renewable energy sector is growing. Companies and nations are adding up to their capacity by increasing the number of plants and also investing substantially for research and development. However, only enhancements in mechanical engineering and physics are not enough to support the growth of thi
Date: Sep 10