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Dow to increase core earnings by $3 billion by 2030

Key Points ·         Dow to invest in a new net-zero carbon emissions facility in Alberta, Canada. ·         Dow expects to provide about $1 billion of capital spending for the project annually. Dow I...

By  Shubhangi On  2021-10-07 03:15:00
Natural gas prices touch new highs in Europe amid supply challenges

Key Points: ·         Natural gas benchmark Dutch TTF hub was trading at around 118 euros per MWH for November contracts in London. ·         The front-month contract rose almost 19% on Tuesday and ha...

By  Shubhangi On  2021-10-06 02:30:00
Health workers demand priority access to fuel amid panic buying in U.K.

Key Points: ·         Health workers and teachers demand priority access to fuel amid panic buying in the U.K. ·         Around 90% stations were dry in the country as of Monday. ·         Government ...

By  Shubhangi On  2021-09-28 22:58:00
Green energy investment boom runs risk of turning to bubble, BIS says

The rapid growth of investment in green energy is raising the prospect of a bubble formation that could burst further down the road, the Bank for International Settlements (BIS) said on Monday. The va...

By  Arghyadeep On  2021-09-20 21:46:00
Chevron triples investment to reduce carbon emissions to $10 billion

Chevron Corp on Tuesday committed to triple its investments to reduce carbon emissions footprint through 2028 to $10 billion. The oil company, though, said that it was yet not ready to commit to net-z...

By  Shubhangi On  2021-09-15 04:01:00
OPEC reduces oil demand forecast for last quarter of 2021

The Organization of the Petroleum Exporting Countries (OPEC) on Monday reduced its world oil demand forecast for the last quarter of 2021 as the Delta variant spreads rapidly. In a monthly report, OPE...

By  Shubhangi On  2021-09-14 01:42:00
China announces state crude oil reserve sell-off to aid refiners

China's state reserves administration has announced that it would release crude oil from its strategic reserve, for the first time into the market via public auction to lower prices. The state adminis...

By  Yashasvini On  2021-09-10 04:36:00
White House targets increasing solar energy usage to 45% by 2050

The White House on Wednesday unveiled a plan for solar energy to supply roughly half of the nation's electricity by 2050. The target for solar is to increase from 3% of power in 2020 to 40% by 2035 an...

By  Ishika Dangayach On  2021-09-08 22:00:00
Chevron to divest Texas' Eagle Ford Basin assets for up to $3.8 billion - Reuters

Chevron Corp is exploring plans to sell its oil and gas assets in Eagle Ford basin in Texas for as much as $3.8 billion, Reuters reported on Friday, citing people familiar with the matter. The oil and...

By  Arghyadeep On  2021-09-04 01:52:00
Shell to develop an offshore wind farm in South Korea

Oil and gas major Shell has entered into a joint venture with CoensHexicon, called MunmuBaram, centered around developing and operating a massive 1.4-GW floating offshore wind farm off the southeast c...

By  Yashasvini On  2021-09-04 00:05:00
Oil prices rise amid full vaccine approval and Mexico output cuts

Oil prices rose 3% on Tuesday amid first full approval given to a COVID-19 vaccine by U.S. regulators and oil output cuts in Mexico due to a fire on an oil platform. Brent crude oil futures were up $2...

By  Shubhangi On  2021-08-24 23:20:00
Biden administration places sanctions on Nord Stream 2, opponents remain dissatisfied

The Biden administration has imposed sanctions on three Russian ships and companies involved in the construction of the Nord Stream 2 gas pipeline from Russia to Europe. The project is nearing complet...

By  Yashasvini On  2021-08-21 01:45:00
Maersk signs first green methanol deal for zero-carbon shipping: Reuters

A.P. Moller-Maersk said on Wednesday that it has secured a contract to secure green methanol as the world's largest shipping company prepares to launch its first carbon-neutral ship in 2023. With over...

By  Ishika Dangayach On  2021-08-19 02:07:00
IKEA to start offering clean energy in Sweden households

IKEA, the world's largest furniture retailer, is expanding into the sale of solar and wind electricity to consumers, beginning in Sweden in September. IKEA Sweden adds STRÖMMA to its Clean Energy Serv...

By  Ishika Dangayach On  2021-08-17 22:33:00
Oil prices declined as coronavirus cases spike

Oil prices declined on Monday as surge in coronavirus cases due to the delta variant prompted fear of lockdown. West Texas Intermediate crude futures declined 2.5% at $66.60 per barrel while Brent cru...

By  Shubhangi On  2021-08-10 01:12:00
Exxon considers pledging net zero carbon by 2050: WSJ

Exxon Mobil Corp. is considering making a pledge to decrease its net carbon emissions to zero by 2050, WSJ reported.  The news comes more than two months after Exxon lost three board seats to the hedg...

By  Ishika Dangayach On  2021-08-05 22:39:00
Shell reports higher earnings; launches $2 billion buyback program

Oil giant Royal Dutch Shell on Thursday reported better-than-expected quarterly earnings. The company reported adjusted earnings of $5.5 billion in the second-quarter as compared to $638 million in th...

By  Shubhangi On  2021-07-30 00:32:00
Elon Musk champions the safety of nuclear powerplants

Elon Musk, CEO of Tesla and SpaceX, stated that it is feasible to build 'extremely safe' nuclear plans during the B-Word conference. Nuclear energy is called 'clean energy' since it does not emit gree...

By  Ishika Dangayach On  2021-07-24 01:10:00
Oil prices fall on Monday with OPEC+ oil production deal

Oil prices fell on Monday afternoon during Asia hours by more than 2% as the OPEC and its allies decided to suspend oil production cuts. Brent crude futures plunged 2.13% to $72.02 per barrel and US c...

By  Shubhangi On  2021-07-20 00:31:00
Saudi-UAE dispute on oil production reaches conclusion, says source

Saudi Arabia and United Arab Emirates have arrived at a deal, an OPEC+ source said on Wednesday, reported Reuters. The deal could help in increased supply of oil in a tight market. Brent oil prices fe...

By  Shubhangi On  2021-07-15 02:12:00
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