Rystad Energy

Global solar PV installations are ramping up quickly, with an expected annual growth of 17% this year, bringing annual installations to 462 gigawatts direct current (GWdc). Hear from our Head of Solar Supply Chain Research, Marius Mordal Bakke, for more on this topic as he takes a closer look at another record year for solar deployments. Read the full market insights: https://lnkd.in/dduZiaV8 #solarenergy #renewables #supplychain

Our global expansion continues, and we’re proud to officially open our newest Latin American office in Sao Paulo. We’re excited to celebrate with clients, partners and industry peers at Baleia Rooftop on 4 June at 5:30pm BST. Guests will hear from our Founding Partner and Global Head of Analysis, Per Magnus Nysveen, on current and emerging trends in the global energy system and have the chance to meet key regional stakeholders and country specialists from the analysis team. Make sure to RSVP via this link: https://lnkd.in/d5dZXvbq #RystadEnergy #officeopening #energy

Oil demand will rise further in the medium term, according to Rystad Energy research and modeling, as low-carbon alternatives are not yet sufficiently developed or economically competitive to offset the growing demand for transportation and industrial services. Rystad Energy’s latest Oil Macro Scenarios report explains how the 13 sectors that rely on oil will face a more complex transition than expected just a couple of years ago. These findings underscore the notion that oil demand remains sticky and the process of substituting the capital stock associated with oil consumption will be complex and lengthy due to the competitive advantages of oil in multiple transportation sectors and industrial processes. Read more here: https://lnkd.in/dtr95NiN #Oildemand #RystadEnergy #Oilindustry

Chart of the week: Despite a challenging year marked by criticism, the voluntary carbon market (VCM) concluded 2023 on an upbeat note, buoyed by elevated retirement levels at the year-end. That momentum has continued into this year with record high activity expected for 2024. Carbon offsets will be crucial for companies and countries to meet their climate targets in a cost efficient and timely manner. A closer examination of the data reveals a significant milestone in December 2023, with a record-setting 38 million retirements, up from 29 million and 27 million credits retired in December of the previous two years, respectively. The year-long moving average for monthly retirements was 13.5 million credits in November 2023. This positive trend has extended into the early months of 2024, with retirement levels in January and February markedly surpassing those of the same period in prior years. The pace changed in March, however, with a significant drop in retirements of about 28% from the month before. Even so, the first quarter of this year had the third-highest quarterly retirement volumes ever recorded. In April, there was a resurgence in retirement activity, positioning 2024 to potentially achieve record-high retirement rates for the year. Download our latest whitepaper to learn more about VCMs: https://lnkd.in/dVt6tK2Z #VCM #RystadEnergy #energytransition

We’re excited to host our first Rio Energy Forum on 6 June from 11:30am to 5:30pm BST at the Fairmont Rio de Janeiro Copacabana. Join us for lunch, insightful presentations and networking with our local team and your industry peers. Our team of experts will cover topics across the energy landscape, including macro-oil trends, reserve replacement requirements, inflation, supply chain bottlenecks, gas and LNG and much more. Secure your spot now: https://lnkd.in/d6jUfv_g #RystadEnergy #RioEnergyForum #oilandgas #RioDeJaneiro #LATAM #energy

Chart of the week: The rapid expansion of artificial intelligence, high-performance computing and crypto-currency mining has sent big-tech companies on a worldwide hunt for suitable locations to build energy-intensive data centers. Norway is an attractive location due to its historically low power prices, a high share of clean hydropower and a cold climate that provides natural cooling for the significant amount of heat generated. To indicate the profitability potential of AI data centers in Norway in terms of break-even power prices, Rystad Energy calculates the break-even power price for OpenAI's GPT-Turbo. Then, it is compared with Norwegian power prices and the break-even power prices for blockchain mining. The breakeven power prices of AI services are significantly above the historical and forward power prices in all power markets in Norway. Blockchain mining, on the other hand, requires significantly lower power prices and the breakeven price heavily depends on whether it is in a bullish or bearish territory. Join our on-demand webinar to gain valuable insights into the dynamics of Europe's energy sector: https://lnkd.in/d5KgfyYC

The global lithium-ion batteries (LIBs) market experienced significant expansion in 2023, driven by falling costs, enhanced energy density and quicker response times. These factors have led to their extensive use in various applications, from electrical vehicles (EVs) to consumer electronics and energy storage systems. Our new Energy Macro Report provides insights into the key trends shaping the battery market in 2024, including supply and demand updates, battery energy storage, EVs, materials, cost and price and the latest developments in battery recycling. Download the report now https://lnkd.in/dthH4XuF #battery #batterymetals #batteries #BatteryElectricVehicles #batterystorage #rystadenergy #energy

In the coming years, the supply chain will be dominated by fluctuating category pricing, capacity challenges and geopolitics, requiring more long-term strategic procurement to be considered. In the face of these challenges, procurement professionals need to shift their focus from purchasing to procurement to manage the increasing risk in the supply chain. However, the right procurement strategy depends on business models, category type and geographic exposure. Our recent article addresses these concerns: https://lnkd.in/dmq6BjUu #supplychain #oilandgas #energytransition

As the energy transition continues at pace, reducing the carbon footprint of traditionally high-emitting industries is increasingly crucial to limiting global emissions. Of these hard-to-abate sectors, steel manufacturing is one of the most challenging. Despite incentives and tax breaks designed to promote the production of green steel – produced using zero-carbon electricity – European steel mills are facing an up-hill struggle. The long-term economic viability of green steel versus grey steel – produced using fossil fuels – is in serious jeopardy, with the environmentally-friendly material costing up to €1,000 ($1,072) per tonne more than the alternative. To close the gap, taxes on grey steel would need to be around €500 per tonne of carbon dioxide (CO2), a sharp increase from the current €60 per tonne tax, or governments would need to offer substantial incentives to produce green steel. Read more here: https://lnkd.in/d9jZviR9 #Steelmills #RystadEnergy #EnergyTransition

After the biggest first quarter for global upstream dealmaking in five years, the industry could see another $150 billion of merger and acquisition (M&A) deals in the remainder of 2024. With global M&A deal value crossing the $64 billion mark already this year, it represents the strongest first-quarter performance since 2019 and a 145% increase on the first quarter of 2023, fueled primarily by consolidation in the US shale patch. Deals in North America totaled $54 billion in the first quarter of the year, about 83% of the worldwide total, with the region continuing to be the driving force for the remainder of 2024. Read more here: https://lnkd.in/d5XY7k2a #rystadenergy #upstream