The current level of global capital spending is still far from sufficient to combat the energy and climate crises. That’s one of the findings of the new report by the International Energy Agency (IEA) which estimates that global energy investment is set to increase by 8% this year to reach …
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Gazprom Germania will be handed a loan of up to €10 billion (£8.6bn), the German Government has confirmed. Officials have said that the aim is to place the firm into a long-term administration regime. It is reported that the loan will help the company avoid insolvency. In the statement, the …
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Environmental groups are starting legal action against the EU’s plans to fast-track funding and permits for 30 proposed gas projects. ClientEarth, Friends of the Earth Europe, Food & Water Action Europe and CEE Bankwatch Network believe the EU Commission has given “these climate-destructive projects VIP status, in contradiction of its …
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Despite sanctions, Russia has almost doubled its revenues coming from fossil fuel exports since the 24th of February which marked the start of a grim new chapter in history, the war in Ukraine. That’s according to research by the Centre for Research on Energy and Clean Air (CREA) which suggests …
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TotalEnergies has announced it will stop purchasing oil and petroleum products from Russia as soon as possible and by the end of 2022 at the latest. In this way, TotalEnergies wanted to address “serious and unfounded” accusations of “complicity in war crimes” for continuing to work in Russia. The energy …
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Ukraine’s largest state-owned oil and gas company has announced it had stopped the work in some of its production facilities after Russian troops invaded Ukraine. As of Friday 4pm, Naftogaz said one gas storage facility in the Chernihiv region, north-central Ukraine, temporarily suspended gas extraction due to reports of hostilities …
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Just a few days after the go-ahead of a giant commercial-scale offshore wind project off the coast of Martha’s Vineyard in the US state of Massachusetts, the US Interior Department approved the second major offshore wind farm. The approximately 130MW South Fork Wind project will be located 19 miles southeast …
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US President Joe Biden has today announced that the Department of Energy will make available releases of 50 million barrels of oil from the country’s strategic petroleum reserve to lower gas prices. Last week, Mr Biden asked the Federal Trade Commission to investigate possible wrongdoing of oil and gas companies …
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The Organization of the Petroleum Exporting Countries (OPEC) said the narrative that the energy transition is from oil and other fossil fuels to renewables is ‘misleading’ and ‘potentially dangerous’. That comes just a few hours after the announcement of the Glasgow Climate Pact that includes in its text a reference …
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How could carbon dioxide emissions reduce the carbon footprint of the production of solar panels? The Chinese petrochemicals corporation Jiangsu Sailboat Petrochemicals Co has unveiled plans to build a project that will recycle an estimated 150,000 tonnes of carbon dioxide every year to use in the manufacture of solar panel …
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