Category: Energy

July 2, 2024

Battery maker LG Energy Solution 373220 -1.01% and Australian lithium company Liontown Resources LTR 7.30% will jointly consider developing a refinery for producing battery-grade lithium, as companies plot new supply chains that bypass China even amid a collapse in prices for the critical mineral. The collaboration is part […]

June 21, 2024

Oil prices traded marginally higher Friday, on course for weekly gains amid signs of improving demand in the United States, the world’s biggest oil consumer. By 08:20 ET (12.20 GMT), the U.S. crude futures traded 0.1% higher at $81.32 a barrel and […]

June 20, 2024

New York is launching a program offering homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property, and more states are expected to follow suit by summer’s end. The rebate programs are part of the federal Inflation Reduction Act, the […]

June 3, 2024

Brent crude fell by more than 3% on Monday – to just below $78 a barrel at one stage – on market speculation that major oil producing countries in the Opec+ group, which includes Russia and Saudi Arabia, were set […]

June 3, 2024

OPEC+ EXTENDS PRODUCTION CUTS INTO 2025 – VOLUNTARY CUTS TO BE WOUND DOWN FROM OCTOBER The Organisation for Petroleum Exporting Countries and its allies, otherwise known as OPEC +, decided to extend their existing production cuts when officials met on […]

May 31, 2024

At an event in Scotland – and joined by Scottish Labour leader Anas Sarwar – the prime ministerial hopeful will reiterate his plans for Great British Energy, first announced at the party’s conference in 2022. Headquartered north of the border, […]

May 30, 2024

Crude Oil Prices were a little lower in Europe on Thursday, retracing some more of the gains made earlier in the week. Those gains were rooted in hopes that the Organization of Petroleum Exporting Countries and their allies will stick […]

May 15, 2024

US Crude oil prices failed to hold on to early gains in Europe on Wednesday but the market’s recent range held firm. Energy markets had found support into the open thanks to data released in the previous session showing a […]

May 2, 2024

Shell’s SHEL 2.13%increase; green up pointing triangle first-quarter adjusted earnings fell by less than expected, buoyed by a strong performance by its integrated gas division and kicked off a $3.5 billion share buyback program to close the valuation gap between […]

April 8, 2024

Israeli soldiers have been called back from Southern Israel after sparking outrage over the recent aggression that killed seven aid workers. The US sent a particularly strong message that civilians need to be protected and that Israel needs to allow […]

April 5, 2024

OPEC met this week with the organization largely expected to stick to the prior agreement for oil supply in Q2. Numerous officials, who wished to remain unnamed, were cited by Reuters in the lead up to the meeting that took […]

April 3, 2024

The attack on the Taneco facility, in the province of Tatarstan, appears to have been Kyiv’s deepest strike inside Russian territory since the invasion of Ukraine more than two years ago. The strike on Tuesday started a fire which took […]

March 27, 2024

Crude Oil Prices look set to make Wednesday a second day of falls as the market still looks keen on taking some profit after this month’s rise to highs not seen since October. News that US stockpiles increased very markedly […]

March 25, 2024

Ofgem has launched a review into the future of the energy price cap in a bid to ensure it continues to protect consumers in the net zero age. The energy regulator said the move towards renewable energy sources, use of […]

March 22, 2024

Over the past 24 hours, the escalating conflict between Russia and Ukraine has taken a significant toll on energy infrastructure in both countries. In Ukraine, a series of Russian missile strikes targeted critical energy facilities resulting in at least five […]

March 7, 2024

Tech firms and Silicon Valley billionaires have been pouring money into nuclear energy for years, pitching the sustainable power source as crucial to the green transition. Now they have another incentive to promote it: artificial intelligence. While generative AI has […]

February 14, 2024

Eversource Energy (ES) has announced its exit from the offshore wind business, selling its 50% stake in two projects for $1.1 billion amid industry challenges. Despite a reported loss of $1.26 per share in 2023, mainly due to a $5.58 […]

February 7, 2024

Orsted, the company developing the Norfolk coast windfarm, Hornsea 3, also suspended shareholder payments in an effort to strengthen its balance sheet. In common with the industry more broadly, Orsted has been hit by high inflation, raised interest rates, project […]

December 21, 2023

Oil prices rose as much as 1% on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices. […]

November 8, 2023

The American Petroleum Institute (API) reported a sizable rise in US crude stocks for the week ending 3 November. The inventory build has weighed on oil prices which have already suffered amid the prospect of a continued growth slowdown in […]