Rystad: Renewables on track to outspend E&P in Asia-Pacific

By emagstage | News | Comments are Closed | 6 June, 2019 | 0

A recent forecast by Rystad Energy states that renewable energy developments in the Asia-Pacific region are set to outspend exploration and production (E&P) activities in 2020. With the exception of China, total CAPEX in renewable developments of all types will overtake E&P spending next year.

The energy research firm anticipates the largest investments will come from Australia, India, Vietnam, Japan and South Korea.

And the industry group most likely to emerge as the dominant renewable developer in Australia and elsewhere? It might just be the oil and gas majors.

Gero Farruggio, Head of Renewables at Rystad Energy, anticipates that upstream companies will lead the charge in response to commercial drivers. Farruggio foresees increased investment in utility storage, solar and offshore wind. “Solar panels, lithium-ion batteries and turbines will soon be conventional segments of Australia’s offshore services,” he added.

EnergyMakers will continue to track this and other developments in the quickly evolving global energy arena.

asia pacific, EnergyMakers, renewables

Taking a break? Below are some interesting reads

By emagstage | Comments are Closed

Lots of (excellent) reporting on Permian subsurface issues and opportunities these days. Here we provide links to recent stories that will catch you up on the current topics: Midland Reporter Telegram- Induced Seismicity and SubsurfaceRead more
M 5.1 Earthquake Reported in Oklahoma February 3rd

By emagstage | Comments are Closed

Hi Folks, Just a quick update on the earthquake Friday night near Prague, Oklahoma. It measured 5.1 on the Moment Magnitude scale and was (interestingly) believed to be shallow at 1.8 km, although the errorRead more
RRC’s Updated Guidance on Disposal Well Monitoring and Reporting Requirements in the Permian Basin

By emagstage | Comments are Closed

We’ve all been waiting to see what comes down from the Texas RRC with regards to induced seismicity and SWD management. Here’s what went out at 10:00 am yesterday: https://rrc.texas.gov/media/sm5bzzpg/nto-disposal-well-monitoring-reporting-requirements-in-the-permian-basin-12-19-2023.pdf And here’s our synopsis ofRead more
November 8, 2023: 5.3 M Earthquake Shakes West Texas

By emagstage | Comments are Closed

Around 4:30 AM, a 5.3-magnitude earthquake shook west Texas, 23 miles W-SW of Mentone. Karen Work, of Carlsbad, NM, contacted us to let us know that she had felt the early morning earthquake. While thereRead more
Deep Well Injection Cuts Can Be Painful

By emagstage | Comments are Closed

Following the 5.4 M earthquake on November 16,2022, the Northern-Culberson Reeves Seismic Response Area (NCR SRA) has been subtly expanded, and a response plan has been amended to reduce injection volumes by 50%. The newRead more