Nasdaq March 24 – Shell SHEL.L will invest up to 25 billion pounds ($33 billion)into the energy system in Britain over the next decade, a senior executive at the oil major said, and over 75% of which will be funnelled into zero-carbon products and services. Shell plans to invest between 20 billion pounds and 25 billion pounds, David Bunch, head of the
Nasdaq BRUSSELS, March 23 – The European Union recommended on Wednesday that EU countries jointly buy gas to shore up supply, but warned that seeking to cap wholesale prices would cause problems and undermine efforts to shift to green energy. The European Commission will unveil a detailed plan in May to quit Russian fossil fuels by 2027, in response to
Reuters ROME – A growing number of European countries are cutting fuel taxes to lower surging pump petrol prices. The move brings respite to motorists but environmentalists say it flies in the face of commitments to curb global warming. Rising international oil costs, exacerbated by the war in Ukraine, have driven petrol above 2 euros ($2.21) per litre in much
World Oil Like everyone, I’m heartbroken about everything happening in our world right now. As a parent and grandparent, I’m worried about the nation we are leaving for the next generation. In recent years, it has become painfully clear that climate catastrophism has an oversized influence on public policy. An intense focus on reaching the unattainable goal of carbon-zero has
Finance Yahoo ABU DHABI – German Economy Minister Robert Habeck added his voice to Western appeals for OPEC to increase oil production and said Gulf states should not profit from global sanctions against Russia over its invasion of Ukraine. OPEC heavyweights Saudi Arabia and the UAE have resisted Western calls, including from the United States, to use their spare oil
CNBC LONDON — Natural gas is one of several commodities caught in the crossfire of the conflict in Ukraine, and the European economy could take a hit if Russia halts its exports. Supply-side risks arising from the war have stoked extreme volatility across global commodity markets, with oil, nickel and wheat also surging alongside natural gas in recent weeks. Natural gas
CNBC The European Union is debating new sanctions against Russia — and this time they could hit the energy sector. Three European officials, who did not want to be named due to the sensitivity of the talks, told CNBC that ministers will be looking at imposing energy sanctions on Russia when they meet Friday. EU foreign affairs ministers are meeting
World Oil (Bloomberg) — Western European nations are scrambling for ways to live without Russian natural gas, bracing for the possibility that either the Kremlin switches off the taps or political pressure for tighter sanctions erupts into a full energy embargo. With Russian troops advancing into Ukraine, European Union governments are concerned that the source of 40% of the region’s
Yahoo Finance BERLIN – Germany on Tuesday halted the Nord Stream 2 Baltic Sea gas pipeline project, designed to double the flow of Russian gas direct to Germany, after Russia formally recognised two breakaway regions in eastern Ukraine. Europe’s most divisive energy project, worth $11 billion, was finished in September, but has stood idle pending certification by Germany and the
Yahoo Finance BRUSSELS – The European Union is considering making more information available on trading in its carbon market, according to a draft document, amid calls from some governments to limit financial speculators’ participation in the scheme. Tougher EU climate targets and high gas prices leading some power generators to switch to higher-emitting coal have helped to drive a jump
Oil Now Oil prices rose on Monday on worries about supply disruption amid concerns about Russia-Ukraine discord and rising tensions in the Middle East, which could make an already tight market even tighter. Brent crude rose 31 cents, or 0.4%, to $88.20 a barrel by 1009 GMT. U.S. West Texas Intermediate (WTI) crude gained 21 cents, or 0.3%, to $85.35.
Reuters OSLO, December 21 – Norway’s $1.4 trillion wealth fund, the world’s largest, will not deny firms that emit major greenhouse gases to meet plans to carbon-neutralize its investment portfolio by 2050. The deputy head of the central bank – which is the foundation’s director – announced on Tuesday that such companies will be “active shareholder” by encouraging them to
