Energy transition
The Texas-based geothermal company said it set a new temperature record and achieved strong drilling performance in its first enhanced geothermal pilot.
A new Eni/Petronas venture is targeting 500,000 BOE/D in output from combined upstream portfolios across Malaysia and Indonesia.
2025 has seen an 81% year-on-year rise in the number of small modular reactor designs to have secured at least one source of funding or a funding commitment.
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Geothermal systems, which rely on extracting heat from deep within the Earth, face many of the same technical challenges that oil and gas operators have tackled for decades. Geothermal development can be advanced efficiently and economically by applying proven oil and gas technologies. -
This study highlights how the recovery and reuse of existing hydrocarbon infrastructure can contribute to the diffusion of district-heating projects that implement the principles of the circular economy.
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The companies have announced they will work together to integrate geothermal well engineering and project delivery globally.
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A recent report from Wood Mackenzie highlights the role of natural gas in supporting renewables and reducing emissions.
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Closed-loop geothermal systems have entered the new-energy arena to generate electricity using the underground as a heat exchanger.
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Equinor will reduce investments in renewables over the next 2 years by 50% to $5 billion and will increase its focus on oil and gas production, expecting more than 10% growth from 2024 to 2027.
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The companies said they plan to work together on developing geopressured geothermal systems for low-carbon energy storage and geothermal power generation.
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Greenhouse gases are woven into every stage of a well’s life, which presents challenges that demand creative solutions that do not require too much capital.
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Wood Mackenzie reports that prices would need to rise, capital discipline would need to evolve, and spending would need to increase by 30% for the upstream sector to meet demand in a delayed energy transition scenario.
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The agreement aims to accelerate new commercial technologies that address challenges with geothermal development.
