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News

UK Energy Market Regulator To Allow Suppliers To Boost Profit Margins

UK Energy Market Regulator To Allow Suppliers To Boost Profit Margins

May 25, 2023 at 08:11 | Charles Kennedy

After dozens of UK energy firms went bankrupt during the energy crisis, Britain’s energy market regulator on Thursday proposed amendments to the profit margins companies are allowed to make, which…

The U.S. Holds Its First Oil And Gas Lease Sale Since IRA Was Passed

The U.S. Holds Its First Oil And Gas Lease Sale Since IRA Was Passed

May 25, 2023 at 08:00 | Michael Kern

The U.S. Department of the Interior is holding on Thursday the first lease sales for oil and gas drilling rights since the Inflation Reduction Act (IRA) came into effect.…

Billionaire Mining Investor Says Copper Price Plunge Won't Last

Billionaire Mining Investor Says Copper Price Plunge Won't Last

May 25, 2023 at 07:55 | Charles Kennedy

Robert Friedland, billionaire mining investor and founder of Canadian mining company Ivanhoe Mines, is unconcerned with the recent plunge in copper prices as medium and long-term demand for the metal…

Finland’s Electricity Prices Fall Below Zero

Finland’s Electricity Prices Fall Below Zero

May 25, 2023 at 07:37 | Tsvetana Paraskova

Surging hydroelectric power, new nuclear reactors online, and an influx of solar and wind capacity additions sent electricity prices in Finland below zero on Wednesday, in a stark reversal from…

UK Energy Rationing Damaged The Health And Wellbeing Of Consumers

UK Energy Rationing Damaged The Health And Wellbeing Of Consumers

May 25, 2023 at 05:12 | Tsvetana Paraskova

Amid soaring energy prices and growing fuel poverty, UK households rationed heat this past winter, which resulted in 57% of those rationing heat suffering from deteriorating health and wellbeing, the…

Solar Power Investment Is Set To Eclipse That Of Oil Production In 2023

Solar Power Investment Is Set To Eclipse That Of Oil Production In 2023

May 25, 2023 at 04:03 | Tsvetana Paraskova

Investment in solar power generation is set to eclipse investment in oil production in 2023, for the first time ever, as the tide in global energy is turning, the International…

Exxon And Partners Made $5.8 Billion In Guyana In 2022

Exxon And Partners Made $5.8 Billion In Guyana In 2022

May 25, 2023 at 02:04 | Irina Slav

Exxon and its partners in the offshore Stabroek Block in Guyana made almost $6 billion from their operations there, Reuters has reported, citing official documents. According to the documents—audited…

Prominent Insurance Companies Quit Major Climate Alliance

Prominent Insurance Companies Quit Major Climate Alliance

May 25, 2023 at 01:16 | Irina Slav

A number of prominent members of the Net Zero Insurance Alliance have quit the organization in recent months and this has prompted its leadership to take urgent steps to stop…

UK Expected To Win Battle With Spain For Jaguar-LandRover EV Gigafactory

UK Expected To Win Battle With Spain For Jaguar-LandRover EV Gigafactory

May 24, 2023 at 13:13 | City A.M

The UK is set to win a battle with Spain for the production of a multi-billion pound Jaguar Land Rover (JLR) electric vehicle battery plant, which could create…

UBS Predicts Lower Gasoline Prices In The U.S. This Summer

UBS Predicts Lower Gasoline Prices In The U.S. This Summer

May 24, 2023 at 09:56 | Michael Kern

UBS is forecasting stronger demand for gasoline year-on-year in the United States this summer, coupled with lower gas prices compared to the same period. The bank noted that consumer “resiliency”…

Commission Recommends EU To Stop Energy Bills Support By Year-End

Commission Recommends EU To Stop Energy Bills Support By Year-End

May 24, 2023 at 09:27 | Charles Kennedy

European Union member states should end financial support for energy bills by the end of 2023 in order to keep budget and fiscal targets within the recommended limits, the European…

Australia And India To Boost Clean Energy Cooperation

Australia And India To Boost Clean Energy Cooperation

May 24, 2023 at 08:13 | Charles Kennedy

Australia and India on Wednesday pledged to work closer to advance renewable energy, increase cooperation in the critical minerals sector, and study green hydrogen development during a visit of Indian…

South Africa Considers Countering Its Energy Crisis With Coal

South Africa Considers Countering Its Energy Crisis With Coal

May 24, 2023 at 07:34 | Tsvetana Paraskova

South Africa, which is going through an energy crisis, is weighing the possibility of extending the operational lives of two of its largest coal-fueled power plants to boost energy security,…

Goldman Sachs Predicts An Oil Price Rally

Goldman Sachs Predicts An Oil Price Rally

May 24, 2023 at 07:13 | Tsvetana Paraskova

Goldman Sachs continues to be bullish on crude oil and other major commodities, expecting a rally after the biggest-ever destocking in commodities that is currently underway. Should major economies, including…

Oil Prices Rise On Signs Of A Tightening Market

Oil Prices Rise On Signs Of A Tightening Market

May 24, 2023 at 02:32 | Tsvetana Paraskova

Oil prices rose in Asian trade early on Wednesday, following estimates of a large U.S. inventory draw and a warning from the Saudi energy minister for short sellers.    In…

Pemex Refinery Launch Gets Delayed Yet Again

Pemex Refinery Launch Gets Delayed Yet Again

May 24, 2023 at 01:10 | Charles Kennedy

The Olmeca refinery that the Lopez Obrador administration has touted as a major milestone in ensuring Mexico’s fuel security has been delayed once again. First scheduled to start operation in…

Crude Prices Rise On Surprise Inventory Draw

Crude Prices Rise On Surprise Inventory Draw

May 23, 2023 at 15:58 | Julianne Geiger

Crude oil inventories in the United fell this week by 6.70 million barrels, the American Petroleum Institute (API) data showed on Tuesday, with analysts expecting a 525,000 million barrel build.…

Czech Republic Moves Closer To Severing All Energy Ties With Russia

Czech Republic Moves Closer To Severing All Energy Ties With Russia

May 23, 2023 at 13:43 | Julianne Geiger

The Czech Republic made more progress in detangling itself from Russia in the matter of energy supplies. According to Prime Minister Petr Fiala, the country has signed a deal to…

Qatar: Aggressive Energy Transition Policies To Create Gas Shortages

Qatar: Aggressive Energy Transition Policies To Create Gas Shortages

May 23, 2023 at 11:28 | Julianne Geiger

Qatar has issued a warning to Europe about disruptions in the supply of natural gas as the energy transition policies of governments stifle the investments necessary for keeping…

Iraq Awaits Turkey’s Go-Ahead To Resume Kurdistan Oil Exports

Iraq Awaits Turkey’s Go-Ahead To Resume Kurdistan Oil Exports

May 23, 2023 at 07:09 | Tsvetana Paraskova

Iraq is waiting for a final go-ahead from Turkey before resuming oil exports from the semi-autonomous Iraqi region of Kurdistan via a pipeline to the Turkish Mediterranean port of Ceyhan,…

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