Tag Archives: The National News

The start of a much-delayed nuclear plant in Finland has helped bring down electricity prices by more than 75 per cent in the Nordic country, chief executive of Finland’s national grid operator Fingrid has said. The Olkiluoto 3 (OL3), Europe’s first new nuclear plant in 16 years, began operating in …

Global electric car sales are set to surge by 35 per cent this year, helped by government subsidies and the tightening of carbon dioxide emissions standards, the International Energy Agency has said. Electric car sales are projected to reach 14 million in 2023 from 10 million last year, the Paris-based …

OPEC+ will most likely roll over its existing output cuts when it meets on April 3 despite the recent market turmoil that dragged oil prices to their lowest in more than a year, according to analysts. The group of 23-oil producing countries, which slashed its collective output by 2 million …

The European Union will aim to double its use of renewable energy by 2030 under a deal announced on Thursday. It addresses the EU’s twin goals of drastically cutting its carbon emissions and replacing the Russian fossil fuels it once relied upon. EU states will have new targets for clean …

Oil prices settled lower on Friday, reversing earlier gains to post their biggest weekly declines in months amid turmoil in global financial markets stemming from fears of a banking crisis. Brent, the benchmark for two thirds of the world’s oil, slid 2.32 per cent, or $1.73, to settle at $72.97 …

BMW is showing off its first hydrogen-powered iX5 sport utility vehicles this year but still has some way to go to make the technology a viable alternative to battery-electric cars. The German manufacturer plans to ship about 80 of the SUVs to Europe, Asia, the US and the Middle East …

European gas demand is expected to be “broadly flat” this year after falling to an all-time low in 2022 following the curtailment of Russian exports, the International Energy Agency said. But there is a “high” level of uncertainty about Russian supply cuts and the possible economic effect of volatile energy …

Oil prices fell in morning trade on Tuesday on a strong dollar and concerns about further monetary tightening by the US Federal Reserve. Brent, the benchmark for two thirds of the world’s oil, was trading 1.05 per cent lower at $83.19 a barrel at 8.37am UAE time. West Texas Intermediate, …

The global energy industry’s methane emissions surged to 135 million tonnes last year, slightly below 2019’s record highs, the International Energy Agency has said. Despite high energy prices, worries about security of supply and economic uncertainty, there was no reduction in methane emissions observed in 2022, the agency said in …

Oil prices posted weekly losses as strong US economic data sparked concerns of further interest rate increases, which in turn could further slow the economy and lead to a slump in crude demand. Brent, the benchmark for two thirds of the world’s oil, shed $2.14 to settle 2.51 per cent …