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Small scale solar energy subsidies set to end
Subsidies for many new solar farms are to end under plans being published by the government. The Department of Energy and Climate Change (DECC) is consulting on plans that would see subsidies for some...
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GE Books $2.5 Billion African Orders From Oil to Locomotives
General Electric Co. has booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola. The orders will be...
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Investors could lose $4.2tn due to impact of climate change, report warns
Private investors stand to lose $4.2tn (£2.7tn) on the value of their holdings from the impact of climate change by 2100 even if global warming is held at plus 2C, a report from the Economist...
View ArticleLibya Crude Output Drops as Conflict Cuts Power at Oil Fields
Libya’s crude production dropped below 400,000 barrels a day as the conflict in the divided North African country cut electricity supply at oil fields, according to the state-run National Oil Corp....
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BP warns on oil price after reporting $6.3B loss
BP (London Stock Exchange: BP.-GB), one of the world's biggest oil companies, announced a second-quarter replacement cost loss of $6.3 billion Tuesday, and warned that low oil prices are here to...
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Putin's Energy Giant Falls on Hard Times
Years of mismanagement and politically driven expansion are catching up to the Russian state-owned natural gas company Gazprom. Output this year is forecast to be the lowest in its history, pipeline...
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A $600 million coal mine just sold for less than $1
On Thursday, Bloomberg reported that the biggest American producer of coking coal, Alpha Natural Resources, could file for bankruptcy as soon as Monday. Competitor Walter Energy filed for bankruptcy...
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Kerry Meets Arab Gulf Ministers to Ease Concerns Over Iran Deal
Secretary of State John Kerry is meeting Gulf foreign ministers Monday to provide assurances that the U.S. commitment to the oil-rich region isn’t wavering after last month’s landmark nuclear agreement...
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Russia lays claim to vast areas of Arctic
Russia has submitted a bid to the UN claiming vast territories in the Arctic, the country’s foreign ministry said on Tuesday.The ministry said in a statement that Russia is claiming 1.2m sq km (over...
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Coal is not the answer to India's energy poverty, whatever Tony Abbott says
Adani’s huge Carmichael coal mine – the biggest in Australian history – has been overturned by the federal court, causing much consternation for coal advocates, chief among them Australian prime...
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U.S. vs. Saudi Arabia: The Oil War
Saudi Arabia leads the Organization of the Petroleum Exporting Countries (OPEC), launched an economic oil war with the United States in November last year when it decided not to cut its production...
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For Norway, Oil at $50 Is Worse Than the Global Financial Crisis
When the financial crisis brought the global economy to its knees, Norway was largely unscathed. But oil under $50? That's another story. Unemployment peaked at about 3.7 percent in 2010 in the...
View ArticleOil at $30 Is No Problem for Some Cost-Cutting Bakken Drillers
The lowest crude prices since 2009 might still not be enough to end the U.S. energy renaissance. Some parts of North Dakota’s Bakken shale play are profitable at less than $30 a barrel as companies tap...
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Fracking bids to be fast-tracked
Shale gas planning applications are to be fast-tracked under new government measures to crack down on councils that delay on making a decision. Councils will be told they must rule on applications...
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Slip sliding oil and inflation data
Producer price inflation data, consumer sentiment and industrial production are on tap for Friday, but traders may be diverted more by other factors, such as whether oil continues to slide. The drama...
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'Tony Abbott’s hubris is staggering': UK's climate adviser on emissions target
Australia’s “pathetic” 2030 emissions reduction target shows the country has opted out of the global effort to limit warming, according to the head of the British government’s climate change advisory...
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Japan switches on first nuclear reactor since Fukushima disaster
TOKYO — Japan switched on a nuclear reactor Tuesday on the southern island of Kyushu, marking a first, tentative return to nuclear energy after catastrophic meltdowns four years ago at the Fukushima...
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Barrel of US crude drops below $40
NEW YORK (AP) — A barrel of U.S. crude oil fell below $40 per barrel for the first time since the end of the global economic crisis.Friday's fall, to $39.86, was just the latest indicator of a vast...
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Victoria to fast-track the construction of 50 new wind turbines worth $200m
The Victorian government has set itself against the Coalition government over renewable energy by fast-tracking plans to build 50 new wind turbines worth $200m. The premier, Daniel Andrews, made the...
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Gas Golden Age Fades as Supply Boom Meets Japan Nuclear Rebirth
The golden age of natural gas lost some of its luster this month. Japan, the world’s biggest buyer of the fuel in liquid form, restarted a nuclear reactor on the island of Kyushu Aug. 11, re-embracing...
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Russian Security Service Said to Stall Schlumberger Deal
Russia’s Federal Security Service, the main successor to the KGB, is holding up Schlumberger Ltd.’s acquisition of a 46 percent stake in Eurasia Drilling Co., according to two people with knowledge of...
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Barack Obama singles out Koch brothers over fossil fuel lobbying
Barack Obama has railed against US political and business figures who oppose the expansion of wind and solar power in a speech where he singled out the influential Koch brothers for criticism.Accusing...
View ArticleAustralia's Pollution Level Seen Rising Beyond Abbott's Target
Australia’s greenhouse gas emissions are likely to rise in the next 15 years, missing by a wide margin a target proposed for United Nations talks on global warming, a team of researchers said. Without...
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Why Saudi Arabia won't cut oil production
Nine months after OPEC decided to leave its production target unchanged and pursue market share instead of trying to prop up prices, the group is facing a set of complex problems and decisions going...
View ArticlePanagariya launches India Energy Security Scenarios
New Delhi, Aug.28 (ANI): Dr. Arvind Panagariya, Vice Chairman, NITI Aayog, has launched the India Energy Security Scenarios (IESS) 2047 Version 2.0 and unveiled the IESS website along with the...
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