November 17, 2023 12:17 pm
Octopus Energy announced on Friday that its renewables investing arm and Japan’s Tokyo Gas had launched a dedicated fund, which is expected to invest GBP 3 billion in offshore wind projects by the end of the decade. The Octopus Energy Offshore Wind fund will invest in offshore wind farms and in businesses that create new […]
Read moreNovember 15, 2023 10:05 am
According to data by China’s National Bureau of Statistics, the country’s coal production dropped 1.1% month-over-month in October to 388.8 million metric tons, as mine safety inspections curbed output. Still, the figure represented a 3.8% increase compared to October last year. More safety inspections were conducted by Chinese authorities in October, after two accidents led […]
Read moreNovember 14, 2023 10:22 am
France’s government announced on Tuesday that it had reached an agreement with utility EDF in regard to future nuclear power prices. The compromise deal would enable EDF to generate profits and would also protect consumers from energy price spikes, according to France’s Finance Minister Bruno Le Maire. The two parties agreed on EUR 70 per […]
Read moreNovember 3, 2023 12:10 pm
Spot Gold looked set to register its first weekly decline in four weeks and did not demonstrate any sizable movement on Friday, as investor focus now sets on the key US employment figures for October. The yellow metal has retreated 0.91% so far this week, following a 1.27% gain in the previous week. The commodity […]
Read moreOctober 31, 2023 10:04 am
BHP Group on Tuesday announced plans to invest $4.9 billion in stage two of its Jansen potash project in Canada, as the company seeks to increase its capacity twofold. The miner had invested as much as $5.7 billion in stage one in 2021. According to the global mining company, the first stage is now 32% […]
Read moreOctober 26, 2023 9:41 am
Australia’s second-most populous state, Victoria, on Thursday announced plans to invest AUD 1 billion ($630 million) to speed up energy transition towards renewable power and support a shift away from natural gas for heating and cooking purposes. Such an investment is expected to generate 4.5 gigawatts of new renewable energy, which would be sufficient to […]
Read moreOctober 24, 2023 11:56 am
According to the International Energy Agency, a strong increase in production of liquefied natural gas will push prices down, but there is also a risk of a supply glut. In its latest World Energy Outlook report, the Paris-based agency said that an “unprecedented surge” in LNG projects, which would come online from 2025, would likely […]
Read moreOctober 19, 2023 11:27 am
Russia’s railway exports of gasoline plunged 80% to 37,000 tonnes during the first 15 days of October compared to the same period of September, according to a Reuters report. In order to deal with a local market shortage, Russia imposed temporary restrictions on exports of gasoline and ultra-low sulphur diesel from September 21st. There were […]
Read moreOctober 17, 2023 11:40 am
Amin Nasser, President and Chief Executive Officer of Saudi Aramco, said at the Energy Intelligence Forum in London on Tuesday that he expected global oil demand to reach 103 million barrels per day in the second half of 2023. Saudi Aramco’s spare capacity, meanwhile, now stands at 3 million barrels per day, Nasser said. The […]
Read moreOctober 12, 2023 10:06 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior trading sessions on Thursday, after an industry report revealed a substantial increase in US crude oil and gasoline stockpiles. The most recent data by the American Petroleum Institute showed crude oil inventories had surged by 12.94 million barrels in the week ending […]
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