Energy News

In this article VOW3-DE 7201.T-JP RNO-FR TSLA Alex Kraus | Bloomberg Creative Photos | Getty Images A planning application for a major new gigafactory in central England has been submitted, with those behind the project claiming it could generate 6,000 jobs and tens of thousands more across the supply chain. The proposals for the factory

Patrick Pleul | picture alliance | Getty Images The planet’s demand for electricity is set for a strong rebound this year and next after dropping by approximately 1% in 2020, according to a new publication from the International Energy Agency. Released Thursday, the IEA’s Electricity Market Report forecasts that global electricity demand will jump by

In this article BTC.CM= In this photo illustration, the Bitcoin logo is seen on a mobile device with People’s Republic of China flag in the background. (Photo Illustration by t/SOPA Images/LightRocket via Getty Images) Budrul Chukrut | SOPA Images | LightRocket | Getty Images LONDON — China’s share of global bitcoin mining plunged this year

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Ramzi Boudina | Reuters DUBAI, United Arab Emirates — The Organization of Petroleum Exporting Countries on Wednesday arrived at a deal after a nearly two-week standoff over its future oil production levels,

An electric vehicle charging point in Stoke-on-Trent, England. Nathan Stirk | Getty Images News | Getty Images The U.K. government said Wednesday it wanted to create a net zero transport sector by the year 2050, as it looked set to publish details of a long-awaited decarbonization plan later today. According to a news release from

Investors may want to keep the antacid nearby. Long-term market bull Tony Dwyer sees near-term turbulence in connection with his “summer of indigestion” call. So, he’s encouraging investors to resist making any big moves right now. “We’ve had one heck of a run. It’s been an excessive run in the indices,” the Canaccord Genuity chief

In this article VOW3-DE Technicians work in the final inspection line of German carmaker Volkswagen’s electric ID. 3 car in Dresden, Germany, June 8, 2021. Matthias Rietschel | Reuters Half of Volkswagen’s sales are expected to be battery-electric vehicles by 2030, the German carmaker said Tuesday. By 2040, the company said almost 100% of its

The container ship Maersk Murcia sits moored to a terminal in the port of Gothenburg, a busy shipping centre on the west coast of Sweden, as cargo is loaded onto it by crane before it sets sail on August 24, 2020. JONATHAN NACKSTRAND | AFP | Getty Images LONDON — The European Union is due

Utilities could be the underrated beneficiaries of a U.S. infrastructure overhaul, one CEO says. With Washington lawmakers working to make the Biden administration’s $579 billion infrastructure spending framework a reality, the year’s worst-performing sector could be in for a rebound, Reaves Asset Management CEO Jay Rhame told CNBC’s “ETF Edge” this week. Two major tailwinds

In this article @LCO.1 @CL.1 An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia. Simon Dawson | Bloomberg | Getty Images The collapse of talks between OPEC and its allies highlights the risks of the group’s unity breaking down and renews concerns about

Sina Schuldt | picture alliance | Getty Images Three major transportation firms are set to work with one another on the development of a European charging network for “battery electric heavy-duty long-haul trucks and coaches.”  In a joint announcement earlier this week, Volvo, Daimler Truck and the Traton Group said they had signed a non-binding agreement related to

LONDON — Oil and gas giant BP on Thursday published its benchmark Statistical Review of World Energy, describing 2020 “as a year like no other” due to the impact of the coronavirus pandemic on global energy. Over the past seven decades, BP said it had borne witness to some of the most dramatic episodes in

Flames burn off at an oil processing facility in Saudi Aramco’s oilfield in the Rub’ Al-Khali desert in Shaybah, Saudi Arabia, in October 2019. Simon Dawson | Bloomberg | Getty Images Oil prices could “very easily” hit $100 a barrel in the aftermath of the failed OPEC+ talks, former U.S. Energy Secretary Dan Brouillette told

Scott Heaney | iStock | Getty Images The U.S. Department of Energy has announced that as much as $27 million in federal funding will be provided for research and development projects focused on wave energy. In the latest attempt to encourage innovation within a sector that has a very small footprint compared to other types

Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia arrives for the 178th meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna, Austria, on March 6, 2020. Alex Halad | AFP | Getty Images Disagreement within OPEC could trigger a more a volatile period for oil, with prices jumping on lack

OPEC Secretary General Mohammed Sanusi Barkindo (L), Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman (C) and Russian Energy Minister Alexander Novak (R) attend an Opec-JMMC meeting in the UAE capital Abu Dhabi on September 12, 2019. KARIM SAHIB | AFP via Getty Images LONDON — Oil producer group OPEC has been plunged into crisis,

In this article @LCO.1 @CL.1 Oil pumping jacks, also known as “nodding donkeys”, operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil jumped to its highest level in nearly three years on Monday after talks between OPEC and its oil-producing allies were postponed

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020. Saudi Press Agency | Reuters LONDON — Oil producer group OPEC will resume talks on Monday

UAE’s Minister of Energy and Industry Suhail al-Mazrouei arrives for the 177th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on December 5, 2019. JOE KLAMAR | AFP | Getty Images The United Arab Emirates has pushed back on OPEC+ leaders Saudi Arabia and Russia, claiming its “sovereign right” to negotiate fairer terms

Lebanon’s economic situation is facing “immediate catastrophe,” according to a top U.S. diplomat, who said the country’s leaders need to demonstrate the will to reform before any external assistance can take place. David Hale, who most recently served as the undersecretary of state for political affairs and is now on detail from the State Department

In this article PCG California’s largest utility company, Pacific Gas & Electric, has a massive wildfire problem. Five of the ten most destructive fires in California since 2019 have been linked to PG&E equipment, including the 2019 Camp Fire that took out the town of Paradise and killed 85 people. Since then, PG&E has been

In this article PCG Thousands of victims of California wildfires dating back to 2019, who are entitled to payments under a $13.5 billion settlement with the state’s largest utility, are learning that the amount that they ultimately receive is subject to the whims of Wall Street. That is according to the retired California appellate judge

In this article TRI-CA The logo of the Organization of the Petroleum Exporting Countries (OPEC) at the headquarters. Omar Marques | LightRocket | Getty Images LONDON — OPEC and non-OPEC ministers will reconvene on Friday to discuss the next phase of oil production policy after a preliminary agreement was thought to have been blocked at

An employee wearing a face mask refuels a vehicle at a gas station of Sinopec (China Petroleum and Chemical Corporation) on July 10, 2020 in Xinle, Hebei Province of China. Jia Minjie | Visual China Group | Getty Images LONDON — Oil prices surged more than 45% in the first six months of 2021, rallying

This image shows Geothermal Engineering Ltd’s proof of concept power plant on the United Downs Industrial Estate in Cornwall, England. The U.K.’s fledgling geothermal energy sector has reached a new milestone after it was announced Thursday that a “proof of concept power plant” in Cornwall had started to produce geothermal steam. The steam, which can

Mischa Keijser | Cultura | Getty Images The CEO of banking giant Credit Suisse told CNBC that the coronavirus pandemic had “substantially accelerated the trend towards ESG and sustainability” and sought to highlight the investment opportunity within the overall space. “The demand that we see — both from our private clients, but also institutional clients

In this article @CL.1 Oil prices have made a huge comeback in just over a year. U.S. oil prices turned negative in April 2020, a never-before-seen move. But, this month, West Texas Intermediate crude hit levels not seen in more than two years as a reopening economy and a rebound in demand fueled a surge

In this article VOW3-DE CAP-FR SU-FR RNO-FR An electric car from Renault being charged in Berlin, Germany, on April 10, 2020. Annette Riedl | picture alliance | Getty Images Renault announced Monday it had signed “two major partnerships” related to the design and production of electric vehicle batteries, becoming the latest automotive firm attempting to get

Dry cracked earth is visible along the banks of Phoenix Lake on April 21, 2021 in Ross, California. Justin Sullivan | Getty Images LONDON — Major companies from across a range of sectors are increasingly concerned about the cost and availability of the world’s ultimate renewable resource: water. The availability and relatively low cost of

An artist rendering of Oklo’s Aurora powerhouse Image credit: Gensler The face of nuclear energy is changing, and one of the companies working to redefine what nuclear energy looks like is Oklo. The 22-person Silicon Valley start-up has a plan build mini nuclear reactors, powered from the waste of conventional nuclear reactors and housed in