Oil rigs work on platforms in Gaoyu Lake in Gaoyou in east China’s Jiangsu province Friday, Sept. 17, 2021. Barcroft Media | Getty Images OPEC and non-OPEC oil producers, an influential group known as OPEC+, will meet on Thursday to decide on the next phase of output policy. The energy alliance will convene via videoconference
Environment
The sudden collapse of Enron, culminating in what was then the largest bankruptcy filing in U.S. history on Dec. 2, 2001, changed thousands of lives, damaged investor confidence to the core and made household names out of previously obscure businesspeople. Many were dragged in front of congressional committees and berated in seemingly endless hearings. Some were
In this article PCG PG&E Corp.’s Diablo Canyon plant in California. (Joe Johnston/San Luis Obispo Tribune/Tribune News Service via Getty Images) San Luis Obispo Tribune | Tribune News Service | Getty Images Scientists from the Massachusetts Institute of Technology and Stanford University have published a 113-page report outlining ways to retrofit California’s Diablo Canyon nuclear
In this article @CL.1 XOM Darren Woods, Chairman and CEO, Exxon Mobil. Katie Kramer | CNBC Exxon said Wednesday that President Joe Biden’s call to investigate “potentially illegal conduct” within the oil and gas industry is unwarranted. “If you go back in time in history, every time we see the supply and demand imbalances get
Wind turbines and solar panels in Kayseri, Turkey. temizyurek | E+ | Getty Images The world is set to add nearly 290 gigawatts of renewable power capacity this year, according to the International Energy Agency, with the Paris-based organization expecting 2021 to “set a fresh all-time record for new installations.” Published on Wednesday, the IEA’s
In this article @NG.1 A liquid natural gas (LNG) storage silo at the LNG terminal, operated by LNG Croatia LLC, in Krk, Croatia, on Monday, Jan. 25, 2021. Petar Santini | Bloomberg | Getty Images U.S. natural gas futures slid Tuesday to the lowest level in more than two months as warmer-than-expected winter forecasts sent
In this article 7201.T-JP An electric concept car from Nissan is displayed at the company’s showroom in Yokohama, Japan, on November 29, 2021. KAZUHIRO NOGI | AFP | Getty Images Japanese automotive giant Nissan is to invest 2 trillion yen (around $17.6 billion) over the next five years to speed up the electrification of its
A truck passes pumpjacks in the Belridge oil field on November 03, 2021 near McKittrick, California. Mario Tama | Getty Images News | Getty Images President Joe Biden’s administration stands ready to release even more barrels of oil from its strategic reserves should the need arise again, according to the U.S. State Department’s senior advisor
A long-time market bull is tempering his outlook due to inflation. Federated Hermes’ Phil Orlando expects the Federal Reserve will lift interest rates six times over the next two years to tame massive price increases from vehicles to shelter to food. “Our best guess is that we will see two quarter point rate hikes out
Electricity transmission pylons beside the gas-fired power plant, operated by Uniper SE, in Irsching, Germany, on Wednesday, July 7, 2021. Michaela Handrek-Rehle | Bloomberg | Getty Images LONDON — The Energy Charter Treaty is not widely known, yet it’s feared the influence of this international agreement could be enough by itself to derail hopes of
Oil prices could climb higher despite the U.S. and other major consumers releasing millions of barrels of oil from their reserves to try to keep energy prices down, one analyst told CNBC. “It’s not going to work simply because the strategic petroleum reserve — any country’s strategic petroleum reserve is not there to try to
An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images The Biden administration on Friday proposed reforms to the country’s oil and gas leasing program that would raise costs for energy companies to drill on public lands and
Working oil pumps against a sunset sky. Imaginima | E+ | Getty Images Oil prices tumbled to the lowest level in more than two months Friday as the new Covid-19 strain sparked fears about a demand slowdown just as supply increases. The leg lower came amid a broad sell-off in the market with Dow futures
Petroleum pump jacks are pictured in the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority has said that some countries had failed to adopt a helpful position to calm soaring oil and gas prices, criticizing “artificial tightness” in energy markets. “[A] factor I would
In this article ENEL-IT The CEO of multinational Italian energy firm Enel has expressed doubt on the usefulness of carbon capture and storage, suggesting the technology is not a climate solution. “We have tried and tried — and when I say ‘we’, I mean the electricity industry,” Francesco Starace told CNBC’s Karen Tso on Wednesday. “You can imagine,
Oil wells pumping outside of Midland Texas. Joe Sohm | Visions of America | Universal Images Group | Getty Images The Biden administration’s decision to release oil from U.S. reserves is a “mistake,” former U.S. Energy Secretary Dan Brouillette told on Wednesday. “I do think it’s a bad policy choice. There’s no question about that,”
In this article ENI-IT EQNR-NO RDSA-GB mcKensa | iStock | Getty Images Shell said Wednesday it had signed a deal to purchase power from a development dubbed “the world’s largest offshore wind farm.” The 15-year power purchase agreement relates to 240 megawatts from Dogger Bank C, the third and final phase of the 3.6 gigawatt
President Joe Biden said Tuesday that the administration will tap the Strategic Petroleum Reserve as part of a global effort from energy-consuming nations to calm 2021’s rapid rise in fuel prices. The coordinated release between the U.S., India, China, Japan, Republic of Korea and the United Kingdom is the first such move of its kind.
In this article GE SGRE-ES HOL.N-CH GS VOW3-DE A wind turbine blade manufactured by LM Wind Power arrives at the Offshore Renewable Energy Catapult in Blyth, England, on August 15, 2019. Tom White | Getty Images News | Getty Images GE’s renewable energy unit said Tuesday it would manufacture zero waste wind turbine blades by
Many people expect electric vehicles to be fixtures in a future world that relies on renewable energy. But not many EV companies started out as renewable energy companies. One company trying to pull off that feat is Bangkok-based Energy Absolute. The biodiesel producer and renewable energy company branched into the commercial EV business in 2019.