Companies

U.S. Commonwealth Fusion Systems (CFS), which is developing fusion energy, has signed a more than $1-billion power purchase agreement with Italy’s energy major Eni as the two companies continue to partner to bring fusion power to commercial use. Nuclear fusion has long been considered the answer to zero-emission by-product-free energy …

Sales of electric vehicles are growing strongly despite a certain unevenness in this growth across the globe. But overall, this growth is not strong enough to give battery researchers a break—work is still underway for batteries that are more reliable, faster to charge, and longer-living. In that, the EV industry …

The penalties proposed in the European Union’s climate and social responsibility legislation would be bone-crushing to any company, ExxonMobil’s chief executive Darren Woods told Bloomberg. The EU’s planned Corporate Sustainability Due Diligence Directive, which is designed to prevent adverse human rights and environmental impacts across a company’s value chains, has …

Asia’s oil demand is growing in the autumn, too, whereas major importers like China keep stockpiling crude, so OPEC+ was right to continue boosting supply, Alexander Dyukov, chief executive at Russian oil producer Gazprom Neft, said on Thursday. “Global oil consumption rises in the summer. Typically, demand in Asia continues …

ExxonMobil has moved to strengthen its hand against climate-focused investor campaigns by introducing an auto-voting system for its massive retail shareholder base, Reuters reported on Monday. The plan, approved under a “no-action” letter from the SEC, will allow individual investors to opt in and have their votes automatically aligned with …

Rising costs and uncertain regulatory and demand picture have made low-emission hydrogen projects more challenging and clean hydrogen production by 2030 could be a quarter lower than expected at this time last year, the International Energy Agency (IEA) said on Friday. The low-emission hydrogen uptake is not yet meeting expectations …

Saudi Aramco, the world’s biggest crude oil exporter and the Saudi state-owned oil giant, is back tapping the debt markets this year with an offering of dollar-denominated Islamic bonds, Bloomberg reported on Wednesday, citing a source with knowledge of the plans. Aramco is said to be offering Islamic bonds, the …

TotalEnergies has been awarded a massive new exploration permit offshore the Republic of Congo, which could ultimately boost oil and gas supply from West Africa. TotalEnergies and its minority partners QatarEnergy and Congo’s national company SNPC have been awarded the Nzombo exploration permit, close to the Moho production facilities operated …

Despite current challenges, Equinor still believes in the long-term prospects of offshore wind and will take part with $939 million in the $9.4-billion rights issue of the world’s offshore wind developer Ørsted, in which the Norwegian energy major holds 10%. Ørsted last month announced plans for a $9.4 billion (60 …

ords in 2025 Exxon projects global natural gas demand will rise more than 20% by 2050 from 2024 levels, driven by coal displacement in industry and growing electricity use in emerging markets, according to a Reuters report. The outlook underpins Exxon’s long-term strategy, including an 18% production increase over five …