A quality control worker checks a solar panel at the Hanwha Q Cells solar cell and module manufacturing facility in Dalton, Georgia, on Thursday, Oct. 6, 2022. Elijah Nouvelage | Bloomberg | Getty Images Since President Joe Biden signed the historic Inflation Reduction Act into law last August, companies have announced more than 100,000 clean … Read more
A satellite image showing the port of Ceyhan centred on August 18, 2015 in Turkey. Gallo Images | Gallo Images | Getty Images Adverse weather conditions are obstructing loading operations at Turkey’s Ceyhan port, where the impact of Monday’s immense twin earthquakes is still being assessed, according to oil traders and shipping sources. Operations were … Read more
Bill Gates photographed in New York City on June 8, 2022. During a recent interview with the BBC, the billionaire said rich countries needed “to get their emissions down to zero as fast as they can.” Michael Loccisano | Getty Images Entertainment | Getty Images Bill Gates does not agree that using a private jet … Read more
The extraordinary scale of the oil and gas industry’s earnings has renewed criticism and sparked calls for higher taxes. Sopa Images | Lightrocket | Getty Images Oil major BP on Tuesday reported record annual profits, more than doubling last year’s total as fossil fuel prices soared following Russia’s full-scale invasion of Ukraine. The British energy … Read more
India will secure oil from anywhere as long as the terms are beneficial, India’s energy minister told CNBC. India is the third largest oil consumer in the world, and according to Hardeep Singh Puri, accounts for 30% of global consumption. “Today we feel confident that we’ll be able to use our market to source from … Read more
Brandon Russell is seen in this mugshot from the Pinellas County Sheriff’s Office. Pinellas County Sheriff’s Office via AP An admitted neo-Nazi and a Maryland woman were arrested and charged with plotting to attack several electrical substations in the Baltimore area, federal authorities announced Monday. Prosecutors said the admitted neo-Nazi, Brandon Clint Russell, 27, and … Read more
Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaks at the World Congress of Accountants in Mumbai on November 19, 2022. Indranil Mukherjee AFP | Getty Images Shares of India’s Adani Enterprises have plummeted over the past week, after the publication of an extensive critical report from U.S. short-seller Hindenburg Research. Some big international players … Read more
Both pink and blue have been used to differentiate between different methods of hydrogen production. Eve Livesey | Moment | Getty Images From Tesla’s Elon Musk to European Commission President Ursula von der Leyen the past few years have seen many high-profile names talk about the role hydrogen may — or may not — play … Read more
The European Union’s ban on Russian oil product exports is slated to kick in on Feb. 5. Picture Alliance | Picture Alliance | Getty Images Europe is once again poised to ratchet up the pressure on Russia’s oil revenues, seeking to deplete President Vladimir Putin’s war chest as the Kremlin’s nearly year-long onslaught in Ukraine … Read more
The European Union’s ban on Russian oil product exports is slated to kick in on Feb. 5. Picture Alliance | Picture Alliance | Getty Images Sanctions imposed on Russian crude oil have so far “failed completely” and new price caps could prove immaterial as well, analysts told CNBC. The European Union is planning to ban … Read more
/ Shows / Business Daily Issued on: 02/02/2023 – 22:32 06:25 BUSINESS DAILY © FRANCE 24 Energy giants are reaping the benefits of high energy prices. Shell followed ExxonMobil in doubling its annual profit for 2022 to nearly $40 billion, the highest in its 115-year history. It’s sparked outrage among climate activists and those calling … Read more
Residents fetch water from a well contaminated by oil pollution at Ogale Town, Eleme in southeast Nigeria, on June 13, 2015. Afp Contributor | Afp | Getty Images Over 13,000 residents from two Nigerian communities are seeking damages from Shell in the High Court in London, calling for the energy giant to clean up residual … Read more
Shell said last month that windfall taxes imposed by the European Union and U.K. following the surge in profits would cost the group about $2 billion. Paul Ellis | Afp | Getty Images British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s … Read more
Greenwashing should be seen as a positive sign that companies are moving in the right direction, according to the founder of British energy firm Ecotricity. “It’s everywhere,” Dale Vince told CNBC’s Tania Bryer. “But you know, I take it as a good thing. People say to me, ‘oh, there’s greenwashing, it’s a bad thing’.” “And … Read more
Alaskan oil extraction site. Lowell Georgia | Getty Images President Joe Biden’s administration on Wednesday recommended a scaled-down version of a major oil drilling project in the North Slope of Alaska, taking a step toward approving the $8 billion Willow plan that climate groups have long condemned. The Interior Department’s Bureau of Land Management released … Read more
In the race to find cleaner fuels, the heavy duty transportation sector is woefully behind because batteries don’t have enough juice to power trucks and ships. Enter ammonia. New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships. The heavy duty trucking industry alone accounts for … Read more
A golden eagle photographed in Scotland. The bird of prey is protected under the U.K.’s Wildlife and Countryside Act, 1981. Education Images | Universal Images Group | Getty Images Plans for an onshore wind farm in Scotland have been revised after a number of concerns, including those related to how the project might affect golden … Read more
Norway’s sovereign wealth fund was established in the 1990s to invest the surplus revenues of the country’s oil and gas sector. Bloomberg | Bloomberg | Getty Images Norway’s sovereign wealth fund on Tuesday reported a record loss of 1.64 trillion Norwegian kroner ($164 billion) for the whole of 2022, citing “very unusual” market conditions. The … Read more
Issued on: 27/01/2023 – 19:24Modified: 28/01/2023 – 15:56 Amid national strikes in the energy sector, some workers in France have found a novel way to protest. On Thursday, “Robin Hood” operations – unauthorised by the government – provided free gas and electricity to schools, universities, and low-income households throughout the country. Among the facilities provided … Read more
U.S. President Joe Biden has previously singled out Exxon Mobil for making “more money than God” last year. Brandon Bell | Getty Images Some of the world’s largest oil and gas companies are poised to report record annual profits, raking in extraordinary revenues following a year of volatile fossil fuel prices amid Russia’s onslaught in … Read more
Norway is making more money from oil and gas exports than ever. Ole Berg rests | Afp | Getty Images Norway’s skyrocketing oil and gas wealth is expected to climb to new heights this year, boosted by higher fossil fuel prices in the wake of Russia’s nearly year-long onslaught in Ukraine. The ballooning petroleum profits … Read more
Chevron last month reported its second-highest quarterly profit ever. Justin Sullivan | Getty Images News | Getty Images Energy giant Chevron announced a $75 billion stock buyback program and a dividend hike on Wednesday evening. Shares of Chevron were up 3% in extended trading. The buyback program will become effective on April 1, with no … Read more
The sun rises over frost-covered houses in December 2022 in London, England. Cold weather has returned in January, causing the U.K. power supplier to offer financial incentives for households to cut use at peak times. Leon Neal | Getty Images News | Getty Images LONDON — More than a million British households and businesses are … Read more
Just weeks before crypto lender Genesis filed for bankruptcythree former employees of the company claimed they had secured millions of dollars for a new crypto hedge fund, according to correspondence viewed by CNBC. Matt Ballensweig, who left Genesis in September after more than five years at the firm, sent a message to a prospective investor … Read more
As the European Union races to diversify its hydrocarbon imports and electrify its economy, what impact will the ongoing energy crisis have on Europe’s climate ambitions and on the bloc’s industrial competitiveness? FRANCE 24 Business Editor Kate Moody asks a prestigious panel of guests at Davos, in collaboration with the World Economic Forum. Source link
