For years, the energy sector, and almost every other sector, has taken water for granted, viewing it as an abundant resource. But as we move into a new era of renewable energy, the vast amounts of water required to power green energy operations may not be so easy to find. …
Read More »Shipping Emissions on the Rise as EU Shifts Energy Supply Chain away from Russia
Western countries’ unilateral sanctions slapped Moscow with ignite even more man-made carbon dioxide emissions from the shipping industry as Europe rejiggers energy supply chains away from Russia by sourcing energy products from far away. Jan Dieleman, Cargill Inc.’s head of ocean transportation business, told Bloomberg that European importers are hiring …
Read More »France’s TotalEnergies Invests Billions more in Qatar Gas Project
France’s TotalEnergies has signed a further $1.5 billion investment in Qatar’s natural gas production expansion, which comes as Europe scrambles to find new energy sources to replace Russian supplies. The French energy giant will have a 9.3 percent stake in the North Field South gas project, the first foreign partner …
Read More »Unrealistic Demands Hindering European LNG Deals
Europe’s frantic search for gas supplies in the wake of Russia’s invasion of Ukraine is being stymied by buyers’ unrealistic demands, TotalEnergies SE’s chief executive officer said. “If Europe wants some security of supply, it has a cost,” Patrick Pouyanne said in the Qatari capital, Doha, where the French energy …
Read More »More than 5 Million People in UK Go without Food to Pay Energy Bills
Millions of Britons have faced impossible choices in recent months as the cost-of-living crisis has worsened, with 5.6 million people, or 11%, having gone without food because of the rising cost of living as energy and food prices soar, the Money Advice Trust charity said in a new report on …
Read More »China has Built 14 Overseas Coal Plants since Vowing No New Ones
A year after President Xi Jinping promised China would stop building coal power plants overseas, the country has completed 14 such facilities beyond its borders and will finish another 27 soon, according to a new report. Most of the projects that were in progress when Xi made the announcement are …
Read More »EU Willing to Pay up for Russian Diesel ahead of Ban
The EU may have a plan to ban all Russian diesel purchases in February, but in the meantime, European buyers are happy to pay more for Russian diesel now than they did back in May, industry sources told Reuters. The ban on Russian seaborne diesel imports, set to go into …
Read More »France Prepares to Nationalize its Struggling Nuclear Industry
France is working up to fully nationalizing the currently 84% state-owned nuclear energy company Électricité de France (EDF) at the same time that the company is anticipating a massive downturn in profits. EDF had already warned investors that its core profits would take a considerable hit this year, but just …
Read More »UAE Accelerates Development of Huge Gas Field as High Prices Persist
Continued high gas prices in Europe in the aftermath of Russia’s invasion of Ukraine in February have prompted several major European oil and gas companies to expedite the development of gas projects in the Middle East, with Italian major Eni’s latest announcement regarding the UAE being the latest example. According …
Read More »Oil Prices Rise despite Expectations of another Interest Rate Hike
Oil prices rose early on Wednesday in Europe in subdued and choppy trade as the markets expect the Fed’s interest rate decision in the early afternoon ET. As of 2:30 a.m. ET, the U.S. benchmark WTI Crude was up by 1.04% at $84.78. Brent Crude, the international benchmark, traded 1.09% …
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