#OilProduction

[oilgasenergymagazine]

Japan Aims for 50% Renewable Energy by 2040 in Revised Energy Policy

Source: downtoearth.org.in

Category: News

  

Japan’s Renewed Push for Clean Energy

Japan energy policy has set an ambitious target to make renewable energy account for 40-50% of its power supply by fiscal year 2040, according to a draft of its updated energy policy. The plan also outlines a significant role for nuclear energy, which is expected to provide around 20% of the country’s electricity. This clean energy push comes as Japan faces rising power demands and increasing global attention due to its reliance on imported liquefied natural gas (LNG) and Middle Eastern oil.

Currently, thermal power dominates Japan’s electricity mix, making up 68.6% in 2023. However, the draft policy projects a sharp decrease in the use of inefficient coal-fired plants, reducing thermal power’s share to 30-40% by 2040. While it does not specify the proportion of coal, gas, and oil, the document emphasizes the importance of LNG as a transitional power source. It highlights the need for long-term LNG contracts to mitigate supply risks and price fluctuations, which could arise due to geopolitical tensions.

Nuclear Power and Energy Security

Nuclear energy, once marginalized following the 2011 Fukushima disaster, is set for a revival under Japan’s new energy blueprint. The draft policy maintains the 2030 nuclear target of 20-22%, aligning it with 2040 projections. This marks a shift from earlier policies that prioritized reducing reliance on nuclear power. Instead, Japan now plans to invest in next-generation reactors to replace decommissioned plants, reflecting a renewed focus on nuclear technology.

Japan energy policy change comes amidst growing concerns over energy security, driven by global geopolitical events such as the Russia-Ukraine war. While the previous energy strategy centered on decarbonization, the new approach strikes a balance between clean energy goals and ensuring a stable power supply. Provisional forecasts predict electricity demand will rise by 12-22% from current levels by 2040, further necessitating a diversified energy mix.

Path to Net Zero and Future Challenges

Japan’s updated energy roadmap marks a critical step toward achieving carbon neutrality by 2050. However, unlike earlier plans, the revised policy omits specific targets for emerging fuels like hydrogen and ammonia. These fuels were initially projected to contribute about 1% of the energy mix by 2030, but their role in the updated policy remains unclear.

In addition to the energy draft, a joint strategy from Japan’s industry and environment ministries proposes cutting greenhouse gas emissions by 60% by 2035 and 73% by 2040. These targets form part of a linear pathway to net-zero emissions by 2050. The finalized energy policy, expected in February, will provide more clarity and be submitted to the United Nations.

Japan energy policy reflects its balancing act between meeting environmental goals, ensuring energy security, and addressing rising power needs. While ambitious, the success of these targets will hinge on technological advancements, public acceptance of nuclear power, and global energy market stability.

[corporatemitra]

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[veetechnologies-engineering]

Oil and Gas - Vee Technologies

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[market-insider]

Apricot Oil Products: Understanding Market Dynamics, Size, Share, and Growth Trajectories

The global apricot oil market size is anticipated to reach USD 2,865.7 million by 2030 and is projected to grow at a CAGR of 5.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is being driven by several key factors. The market for apricot oil is being primarily driven by the increasing demand for natural and organic skincare and haircare products. Apricot oil is rich in vitamins and minerals, making it a popular ingredient in cosmetics due to its nourishing and moisturizing properties. Consumers are increasingly seeking natural alternatives to synthetic ingredients, and apricot oil fits this demand as a botanical extract with various beneficial properties for skincare and haircare. This trend is supported by the growing awareness of the potential harmful effects of chemicals found in many conventional beauty products, leading consumers to opt for natural and organic alternatives like apricot oil.

The rise in the popularity of wellness and self-care practices is also contributing to the market growth. As individuals become more conscious about taking care of their overall well-being, the demand for natural and holistic products, including apricot oil, has surged. The oil is considered beneficial for aromatherapy and massage due to its light texture and mild aroma, adding to its appeal in the wellness industry. Additionally, the increased focus on holistic health and wellness has driven the demand for apricot oil as a dietary supplement, as it is rich in essential fatty acids and has potential health benefits when consumed orally.

The expanding application of apricot oil in the food and beverage industry is also propelling market growth. With its light flavor and high smoke point, apricot oil is being used as a healthy cooking oil and in the production of various food products. Its nutritional profile and potential health benefits have garnered attention among health-conscious consumers, leading to its incorporation into a range of food and beverage offerings. As a result, the diverse applications of apricot oil across multiple industries are playing a significant role in driving its market growth.

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Apricot Oil Market Report Highlights

Based on application, the cosmetics segment led the market with the largest revenue share of 40.20% in 2023. Apricot oil's rich composition of vitamins and minerals makes it a sought-after ingredient by beauty and cosmetic companies looking to meet the growing demand for clean, plant-based formulations. Its moisturizing and nourishing properties make it a popular choice in various cosmetics such as creams, lotions, serums, and hair care products. As consumers continue to prioritize health and wellness through their beauty routines, the natural benefits of apricot oil have propelled its prominence in the cosmetics industry, driving a significant share of global revenues in 2023

Based on distribution channel, the online distribution segment is anticipated to grow at the fastest CAGR of 6.1% from 2024 to 2030. The increasing consumer preference for convenience, variety, and accessibility offered by online shopping. As e-commerce platforms continue to expand and improve their offerings, consumers are increasingly inclined to purchase products, including apricot oil, through online channels due to the convenience of doorstep delivery, a wide range of product options, and the ability to compare prices and read reviews. This shift in consumer behavior is expected to drive sustained growth in online sales of apricot oil over the forecast period

The apricot market in Asia Pacific accounted for revenue share of 30.25% in 2023. It is primarily due to the region's large population, increasing consumer awareness about health and wellness, and the growing utilization of apricots in various culinary and cosmetic applications. In addition, the rising disposable incomes in several countries within the region have led to greater consumer spending on premium and healthy products, further fueling the demand for apricots and apricot-based products

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We have segmented the global apricot oil market report based on application, distribution channel, and region.

[turvooil]

Understanding Synthetic Oil: Benefits, Types, and Usage

When it comes to maintaining the optimal performance of your vehicle, choosing the right engine oil is paramount. Among the various options available, synthetic oil stands out for its superior properties and benefits. In this article, we'll explore what synthetic oil is, its advantages, types, and why it might be the best choice for your vehicle.

[gqresearch24]

OPEC+ Virtual Meeting To Review Production Policy

(Source – Energy Intelligence).

OPEC+ will convene virtually on Sunday to assess its current oil production strategy. As the global oil market keenly awaits the coalition’s decision, several OPEC+ members continue to withhold 2.2 million barrels per day from the market in a bid to bolster prices. This strategic move comes as market analysts predict that OPEC+ will likely uphold its existing production policy, maintaining stability in the oil market.

Voluntary Production Cuts to Support Prices

The decision by OPEC+ members to voluntarily reduce oil output by 2.2 million barrels per day is a calculated effort to sustain oil prices amid fluctuating market dynamics. By restricting supply, these nations aim to prevent a surplus that could drive prices down. This approach is particularly significant as it reflects the coalition’s proactive measures to stabilize the market, ensuring that oil prices do not fall below a level that is economically viable for their economies.

Michael Hsueh, an analyst at Deutsche Bank, highlighted the current market sentiment by pointing out that the price of Brent crude, hovering closer to $80 per barrel, suggests that OPEC+ is unlikely to increase production in the near term. “Given the current price levels, it wouldn’t be surprising if OPEC+ maintains its cautious stance to avoid flooding the market with excess supply,” Hsueh noted.

Tamas Varga, an analyst with oil broker PVM, echoed similar sentiments, stating that the virtual nature of the upcoming meeting further reduces the likelihood of any production changes. Varga emphasized that the virtual format typically lends itself to maintaining the status quo rather than making significant policy shifts. As such, the market is largely anticipating a continuation of the current production policy, aligning with Deutsche Bank’s forecast of Brent crude prices averaging $83 per barrel in the second quarter and $88 in the latter half of the year.

Market Reactions and Future Outlook of OPEC+

The anticipation surrounding the OPEC+ meeting has already impacted the market, with U.S. crude oil prices rising nearly 3% on Tuesday following a previous week’s loss. This uptick underscores the market’s focus on OPEC+’s decisions and the broader implications for global oil prices.

However, analysts like Hsueh warn that OPEC+ may face increasing pressure to adjust its production strategy after the June meeting. Should the coalition opt to increase output, it could potentially drive Brent prices below the $80 per barrel mark. This possibility looms as a critical factor for OPEC+ members, who must balance their production levels to sustain favorable price points without triggering a market imbalance.

Hsueh also pointed out the long-term considerations for Saudi Arabia and other major oil producers within OPEC+. Maintaining a target price significantly above the breakeven point for the broader U.S. oil sector, which stands at approximately $75 per barrel, may prove unsustainable. The stabilization of U.S. oil production since September has provided OPEC with a degree of flexibility, allowing the coalition to carefully calibrate its production levels without risking an oversupply that could depress prices.

In conclusion, the OPEC+ virtual meeting on Sunday is poised to play a pivotal role in shaping the near-term outlook of the global oil market. As the coalition deliberates on its production policy, the decisions made will reverberate through the industry, influencing price trends and economic stability for oil-producing nations. Market participants will be watching closely, prepared to respond to any signals of change or continuity from this influential group.

[usnewsper-politics]

Climate Protests Shake Up Fossil Fuels: OPEC's Role in Renewable Energy Shift #climateprotests #fossilfuelindustry #oilproduction #OPEC #renewableenergy

[usnewsper-business]

Oil Prices Drop as Crude Inventories Rise, Gasoline Supplies Fall: What You Need to Know #crudeoilinventories #EIA #gasolinestockpiles #oilprices #oilproduction

[unicous2]

Oil & Gas Applications | Unico

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[lovelypol]

Subsea Manifolds: $3.1B to $5.4B by 2033, CAGR 5.5%

Subsea Manifolds Market : Subsea manifolds are crucial components in offshore oil and gas production, acting as central hubs to control and manage the flow of hydrocarbons from multiple wells to the surface. Positioned on the ocean floor, these sophisticated systems streamline operations by combining and distributing fluids, such as oil, gas, and water, ensuring efficient resource extraction and minimizing operational complexity. Designed to withstand the extreme conditions of deepwater environments, subsea manifolds are built with advanced materials and engineering to ensure durability, safety, and optimal performance over long periods of time. As the demand for energy continues to grow, subsea manifolds are at the forefront of maximizing production in offshore fields.

To Request Sample Report : https://www.globalinsightservices.com/request-sample/?id=GIS32515 &utm_source=SnehaPatil&utm_medium=Article

With offshore reserves becoming deeper and more challenging to access, the role of subsea manifolds has evolved to include more advanced features like remote monitoring, intelligent control systems, and enhanced subsea processing capabilities. These innovations enable operators to perform real-time adjustments and predictive maintenance, reducing operational costs and enhancing safety. As the energy industry pivots towards more sustainable and cost-effective extraction methods, subsea manifolds will continue to be a key element in the development of offshore resources, driving efficiency and helping to unlock the potential of previously untapped deepwater reserves.

#SubseaManifolds #OffshoreEnergy #OilAndGas #DeepwaterProduction #SubseaEngineering #OffshoreTechnology #EnergyInnovation #HydrocarbonExtraction #OilProduction #EnergyEfficiency #OffshoreOil #SubseaSystems #SustainableEnergy #UnderwaterTech #OilfieldEquipment

[s--lag]

Sometimes enlarged pores are not just due to oilproduction

It may also be because the stratum corneum is too thin and sensitive to cause lipid metabolism disorders, the skin's water retention ability is poor, oil production is increased, and there are redness and sensitivity, which can be classified as barrier damage

I don't even recommend doing gold microneedles or any kind of skin-busting medical beauty project, but

1 Stop all big-name anti-aging line skin care products and replace them with slimmeddown barrier repair products.

2 Less makeup and less makeup, makeup remover products choose oil and paste

3. Use less chemical sunscreen and Rocker sunscreen, and replace it with physicochemical combination or direct hard sunscreen

4 You can do tachyton, oil skin and brush salicylic acid to help the cuticle become healthy and thicken the barrier

Finally, we must emphasize the idea that both skin care and medical beauty barrier are the first.

The barrier is too fragile to do either subsequent anti-aging projects or ordinary maintenance water-light projects.

[hinduactivists]

भारत को कच्चे तेल का नया भंडार बंगाल की खाड़ी में कृष्णा गोदावरी नदी के बेसिन में मिला है। ऑयल एंड नैचुरल गैस कॉरपोरेशन नामक कंपनी गहरे पानी के नीचे से तेल निकालने के प्रोजेक्ट पर काम कर रही थी।

#ongc #oilandgas #oilandnaturalgascorporation #krishnagodavaribasin #crudeoil #bayofbengal #kakinada #offshore #oilproduction #godavari #river #india #currentaffairs #gk #gkindia #generalknowledgeindia #currentaffair2024 #hindithoughts #hindiquotes #facts #hindifacts #rochaktathya #hinduactivists_ #thehindu #hindinews #hindiwriting #hindi #hinduactivist

▫️▫️▫️

@hinduactivists_

[news247worldpressposts]

#BREAKING: #SaudiArabia says it will cut #oilproduction by 500,000 #barrels per day from May until the end of 2023.

BREAKING: Saudi Arabia says it will cut oil production by 500,000 barrels per day from May until the end of 2023. The move would likely raise oil prices, further straining relations between Riyadh and Washington as the world copes with inflation. https://t.co/FOgr0zdirP — The Associated Press (@AP) April 2, 2023 Source: Twitter

[turvooil]

The Ultimate Guide to Choosing the Best Engine Oil for Your Vehicle

When it comes to maintaining the health and performance of your vehicle, selecting the best engine oil is crucial. Engine oil serves as the lifeblood of your car, ensuring that all moving parts are lubricated, reducing friction, and preventing wear and tear. With a plethora of options available on the market, choosing the right one can be overwhelming. In this guide, we’ll delve into what makes the best engine oil, factors to consider, and our top picks to keep your engine running smoothly.

[thescoutfdc]

No human masterpiece has been created without great labor.

Happy Labor Day!