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European Union countries adopted a 14th package of sanctions on Russia that aims to close some circumvention loopholes and hits Russia’s gas exports for the first time, EU foreign affairs ministers said in a statement on Monday. Western powers imposed sweeping sanctions on Moscow after Russia launched a full-scale invasion of Ukraine in February 2022, …
EU Adopts New Sanctions Against Russia, Including LNG Read More »
(Reuters) – Major Chinese asset managers have billions of dollars invested in fossil fuels with no plans for a phase out, a new Greenpeace report said. The environmental organisation’s analysis of 16 major Chinese asset managers released on Thursday said that they have invested a combined 267.2 billion yuan ($36.79 billion) in high-carbon sectors and …
Major Chinese Asset Managers Have No Plans to Phase Out Fossil Fuel Investments Read More »
(Reuters) – The UK’s highest court ruled on Thursday that planners must look at the impact of emissions on global warming before granting approval for oil wells, in a landmark case that climate activists said makes it easier to block fossil fuel projects. Environmental campaigners had argued that planning permission to retain and expand an …
Environmental Activists Win Landmark Ruling Over UK Oil Well Plan Read More »
Bloomberg News The EV maker announced weaker-than-expected earnings and plans to cut 15 per cent of its workforce Fisker Inc. filed for bankruptcy on Monday, months after the electric-vehicle startup stopped production of its only model, the oft-malfunctioning Ocean SUV. The company listed between US$500 million and US$1 billion of assets, and between US$100 million and US$500 million of …
Troubled Electric Vehicle Maker Fisker Files for Bankruptcy Read More »
Iranian oil exports will continue regardless of who is elected as the next U.S. president, Iranian Oil Minister Javad Owji said on Wednesday, amid concerns that a Donald Trump presidency could curb Iranian crude sales. “Whatever government comes to power in the United States will not be able to prevent Iranian oil exports,” Owji said …
No Future U.S. Government Can Prevent Iran Oil Exports, Minister Says Read More »
Canada’s proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage (CCS) technology, according to a report by consultancy Deloitte and released by the Alberta government on Tuesday. Prime Minister Justin Trudeau’s Liberal government is developing regulations to force Canada’s highest-polluting sector to cut …
Canada Oil and Gas Emissions Cap Likely to Curtail Production, Report Says Read More »
Venezuela’s National Assembly on Monday began discussing a proposal to extend through 2047 a contract between state oil company PDVSA and U.S. company Chevron to operate a joint venture in the country’s largest producing area. PDVSA and Chevron have four joint ventures in Venezuela that are producing some 200,000 barrels per day (bpd) of crude. …
Venezuela Mulls Proposal to Extend PDVSA-Chevron Oil Joint Venture Through 2047 Read More »
By Clyde Russell (Reuters) – The world’s biggest crude importer has had a soft start to the year. China added more than 1 million barrels per day (bpd) of crude oil to stockpiles in May as soft imports were outweighed by even weaker refinery processing volumes. A total of 1.08 million bpd was added to China’s …
China Continues to Lift Crude Oil Stockpiling Amid Weak Refinery Runs Read More »
(Reuters) – Japan, a major coal and liquefied natural gas (LNG) buyer, could be energy-independent by 2060 thanks to expansion of solar and wind power together with storage batteries, said Jarand Rystad, chief executive of the Rystad Energy consultancy. Japan imports most of its energy resources, with the Middle East, Australia and the United States …
Japan Could be Energy-Independent by 2060 Thanks to Renewables, Rystad Energy CEO Says Read More »
(Reuters) – More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are scheduled to shut down by 2030, more could close if efforts are made to …
