Its merger with Husky Energy will allow the combined entity to refine 70 per cent of its oil production in-house, Deal the largest in the Canadian energy sector since the start of the pandemic, Companies have been buying their competitors at a fraction of their value from just a year ago, Some say CPPIB needs to re-evaluate role, but pension keeping faith in technologies such as carbon capture and storage, Canadian oil prices are poised to strengthen next year as Mexican heavy crude exports to U.S. Gulf Coast refineries dwindle, At least half of the funding is to go to small and medium-sized businesses, WCS discount to WTI could narrow to $5, says BMO, Assets in the area could be valued around US$500 million, sources said, Every analyst covering stock has increased their price target, Oil and gas producers turn to consolidation to survive slowdown, Recapitalization plan likely to fracture Wilks' stake and see it walk away, Quashes challenges by activist groups that had raised concerns regarding Enbridge's intentions to protect streams and wetlands, Worries over whether province will be able to secure the best value for its lease and licences in a bearish oil market, The market for carbon offsets, while 'complex,' will be 'a very major component' of the climate solution, Carney said, 'The era of global oil demand growth will come to an end in the next decade', Wife of a noted Calgary businessman, Karen Gosbee’s life looked perfect, but behind the scenes it was anything but, Canada predicted to show meaningful growth after 2025, If the levy is capped for big industry, households and other sectors of economy will have to pick up the rest, Plans to label plastic as toxic waste will hurt Alberta’s ambitions to become a top 10 petrochemical and plastics producer, industry says, ‘The window is going to close on them before long’, Linda Cook will become chief executive officer of what will be the largest U.K. North Sea oil and gas producer, Refining businesses hurting during pandemic while those with strong natural gas assets outperform, Calgary Mayor Naheed Nenshi talks about how his city is facing four crises at once, 365 Bloor Street East, Toronto, Ontario, M4W 3L4. The size of the global energy management market is expected to witness a very impressive growth rate in the comings years, owing to the increased usage of smart grid services, rising competition among industrial enterprises, and supporting government policies and incentives. Solar PV and wind account for 86% of global renewable capacity additions this year, but their annual expansion is forecast to decline by 17% and 12% respectively compared to 2019. The availability of a wide range of smart home products is contributing to the rapid growth of the home energy management systems (HEMS) market. Moreover, total PV additions in 2021 are expected to fall short compared to 2019 due to slower recovery of distributed PV applications, as individuals and small business are expected to reprioritise investment decisions. Get tips and tricks for buying and conserving electricity and natural gas. Green energy systems increase efficiency and reduce the impact of production and manufacturing processes on surroundings, which is leading to rising adoption of green systems in the commercial sector. Building energy management services are becoming, Owing to growing awareness about sustainability and environmental impact, there is an increasing need for industrial energy efficiency services. The need to reduce energy costs and carbon footprint is driving demand in these industries. However, governments have the opportunity to reverse this trend by making investment in renewables a key part of stimulus packages designed to reinvigorate their economies. Our energy management market segmentation research offerings include: We at Technavio, with our comprehensive understanding of the energy management market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. Energy Market Analysis – 20-10-2020. with Video. Gas prices found some support yesterday from a longer-term view in regard to supply/ demand but an oversupplied system helped to weigh on the prompt. The size of the energy management software market will witness an incremental growth of USD 3.7 billion between 2017-2022, while energy management systems market size will grow at a CAGR of 17% by 2020. This research also segments the market into three main applications being the home energy management market, building energy management market, and industrial energy management market. Moreover, current low oil and gas prices are affecting the cost-competitiveness of renewable heat fuels and technologies: many planned investments to switch from fossil fuel heating to renewable or electric solutions are likely to be postponed or cancelled in the absence of stronger policies. The IEA anticipates that consumption of transport biofuel and industrial renewable heat will be more acutely impacted by an economic downturn than will renewable electricity. Renewables are not immune to the Covid-19 crisis, but are more resilient than other fuels. This offers the prospect of harnessing the structural benefits that increasingly affordable renewables can bring, including opportunities for creating jobs and economic development, while reducing emissions and fostering innovation. — 'very bad'. Energy. Global energy drink sales reached a value of $53.01 billion in 2018 and are expected to grow at a CAGR of 7.20% to reach $86.01 billion by 2026, according to Allied Market Research. At least half of the funding is to go to small and medium-sized businesses . Blog for small business ; Subscribe for updates. Renewables directly used for heat processes mostly take the form of bioenergy for the pulp and paper, cement, textile, food and agricultural industries, all of which are exposed to demand shocks. The Covid-19 crisis has radically changed the global context for biofuels. Heavy oil scarcity to boost Canadian oilsands prices next year. Debt-hating Pourbaix bets big to transform Cenovus into an integrated energy giant, Cenovus to buy Husky for $3.8 billion to create Canada’s No.3 energy company, Canadian oilpatch deals since the pandemic crushed prices, CPPIB says excluding fossil fuels from its portfolio would be 'an active short on human ingenuity', Alberta to scrap oil production limits in December with demand for heavy oil poised to rise, Ottawa pledges $100 million to reduce oil and gas industry’s emissions, Heavy oil scarcity to boost Canadian oilsands prices next year, Suncor studying sale of North Sea oil and gas fields, Topaz slips in TSX debut after completing biggest Canadian energy IPO since 2017, Why AltaGas is now rarest of Calgary-based energy companies — a stock-market darling, ConocoPhillips to buy Concho Resources for $9.7 billion in the year’s biggest shale deal, Calfrac shareholders vote with management, spurn Wilks Brothers, Enbridge Line 3 replacement project clears another hurdle after Minnesota judge upholds state decision, Alberta to resume oil land sales, but critics warn against 'giving away' assets in severe downturn, Mark Carney says carbon offset market has become imperative to help achieve net-zero emissions, IEA sees oil demand suffering long-lasting blow from virus, Excerpt: A Perfect Nightmare: A harrowing tale of business, depression and violence, Oil demand will rebound by 2022 and will grow for another two decades: OPEC, Carbon tax must rise if Canada is to meet Paris emission targets, PBO says, Alberta, Ottawa set for showdown over plastics ban as province turns focus to petrochemicals, ‘I think the oilsands has been demonized, actually’: Oil market guru Daniel Yergin sees demand peaking in 2030s, Oil majors must decide whether they remain ‘last man standing’ or pivot towards clean energy, Oil CEOs club gains a rare new member: A woman, As investors dump oil holdings, Canadian Natural overtakes Suncor as Canada's most valuable energy company, How bad are things in Canada’s oil capital? This nevertheless corresponds to a 6% increase in global installed renewable power capacity, which surpasses the combined size of power systems in both North America and Europe. Renewable energy key facts. Energy management market size will witness strong growth due to increased usage of smart grid services and rising competition among industrial enterprises. This increased production is in part due to record-level capacity additions in 2019, a trend that was set to continue into this year. Energy … Due to these reasons, the, Enterprise Carbon and Energy Management Market, Energy Management Market for In-House Display, Energy Management Market for Smart Thermostats, Energy Management Market for Load Control Switches, Energy Management Market in Power and Energy Industry, Energy Management Market in telecom and IT Industry, Energy Management Market in Manufacturing Industry, Energy Management Market in Office and Commercial Buildings, Energy Management Market in Municipal, University, Schools, and Hospitals, Energy management market vendor landscape. Covid-19 is now intensifying these concerns. Globally, overall demand for renewables is expected to increase due to their use in the electricity sector. BEMS control and manage building facilities such as lighting, electricity, and security, and are usually installed in commercial buildings, hotels, restaurants, manufacturing plants, and more. Longer‑term implications for growth may arise from the suspension of new policy initiatives in some countries due to low oil prices. Due to high energy costs, the global construction industry is investing in adopting energy efficiency solutions. The number of new renewable power installations worldwide is set to fall this year as a result of the unprecedented Covid-19 crisis, marking the first annual decline in 20 years. Gasoline demand is forecast to fall by 9% in 2020 and diesel demand by around 6%. Suppression of global demand has a stronger impact on biofuels and renewable heat than it does on renewable electricity. 20th October 2020 | Posted by: Daniel Birkett | Market Analysis. Energy. Between 2017-2021, it is expected that this market will post a CAGR of nearly 19%, owing to the availability of a wide range of smart home products. Lower transport fuel demand directly affects the prospects for biofuels such as ethanol and biodiesel, which are mostly consumed blended with gasoline and diesel. In 2020, the IEA forecasts net additions of renewable electricity capacity to decline by 13% compared with 2019. However, supply chain disruptions, construction delays and macroeconomic challenges increase the uncertainty about the total amount of renewable capacity growth in 2020 and 2021. Get energy insights and market … Numerous segments within the energy management market are currently in the middle of strong growth periods, including the energy management software market and the energy management systems market. Ottawa pledges $100 million to reduce oil and gas industry’s emissions. Energy Canada | News, Update, Analysis & Reports | Financial Post. The strong growth of these segments will contribute to the strong performance of the overall global energy management market in the coming years. In an industry used to the highs and lows of economic and commodity price cycles, 2020 poses great challenges to oil and gas companies. Find out about the world, a region, or a country, Find out about a fuel, a technology or a sector, Explore the full range of IEA's unique analysis, Search, download and purchase energy data and statistics, Search, filter and find energy-related policies, Shaping a secure and sustainable energy future, Covid-19 impact on renewable energy growth, Designing stimulus packages for a cleaner energy future, Clean Energy Ministerial Hydrogen Initiative, Clean Energy Transitions in Emerging Economies, Global Commission for Urgent Action on Energy Efficiency, 2020 was expected to be another record year for renewables, Covid-19 is expected to delay renewables deployment. Some of the impacts from the Covid-19 pandemic could be temporary. This report is a market update on the IEA’s most recent five-year renewable energy forecast, Renewables 2019, published in October 2019. Despite the rebound, combined growth in 2020 and 2021 is almost 10% lower compared to the previous IEA forecast published in October 2019.

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