U.S. natural gas futures jumped on May 4 to a 15-week high on forecasts for cooler weather and more heating demand over the next two weeks than previously expected and a slowing of output as drillers shut oil wells in shale basins due to the 67% collapse in crude prices …
Read More »US Announces $9m Prize for Solar-Powered Desalination Projects
The competition aims to develop cost-cutting systems to increase freshwater supply across the US.
Read More »Russia Slams US for Obstructing Iran’s Loan Request from IMF
Russia’s Deputy Foreign Minister Alexander Pankin on Monday lashed out at US’s attempt for obstructing a loan by the International Monetary Fund (IMF) to the Islamic Republic of Iran and Syria amid the pandemic.
Read More »Rosneft Sells Venezuelan Assets to Russia after U.S. Sanctions Ramp Up
The impact of the move, announced at a time when oil prices are languishing at around $25 per barrel, on Rosneft’s upstream joint ventures with Venezuelan state oil company Petroleos de Venezuela was not immediately clear. The U.S. government has ramped up pressure on Venezuelan President Nicolas Maduro’s government, including …
Read More »Solar and Wind Cheapest Sources of Power in Most of the World
Solar and onshore wind power are now the cheapest new sources of electricity in at least two-thirds of the world’s population, further threatening the two fossil-fuel stalwarts -- coal and natural gas.
Read More »US Oil Production to Be Cut Down by 30,000bpd between May and June
The ongoing Covid-19 pandemic and the subsequent drop in demand have resulted in production cuts around the world.
Read More »New 3.2MW Solar Plant to Provide Clean Energy to Vermont’s Electric Utilities
The 17-acre project is part of the state’s Standard Offer Program that promotes the development of in-state renewable energy sources.
Read More »India’s Total Solar Installations Reached 7,346MW in 2019
The nation witnessed a 12% decline in growth last year, compared to 8,338MW of solar power installations recorded in 2018.
Read More »BP to Donate 3m Gallons of Jet Fuel to Help with Covid-19 Relief in US
The fuel will be used for charter flights carrying PPE – the energy giant claims associated carbon dioxide emissions will be offset through certified US projects.
Read More »ConocoPhillips Swings to $1.7 Billion Loss
ConocoPhillips went from a profit in the 1st quarter last year to a loss in the same period of 2020 after being hit by impairment charges and lower oil and gas prices. The company reported a 1st-quarter 2020 loss of $1.7 billion compared with 1st-quarter 2019 earnings of $1.8 billion. …
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