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Warren Buffett’s MidAmerican Energy to develop $3.9 billion green energy project

• MidAmerican Energy is Berkshire Hathway Energy's subsidiary based in Des Moines • The project titled Wind PRIME would add 2,042 MW of wind energy and 50 MW of solar energy Warren Buffett's MidAmeric...

By  Yashasvini On  2022-01-22 02:35:00
Shell officially changes name by ditching “Royal Dutch”

• Stock exchanges in London and Amsterdam will follow the change from January 25 • The oil giant has been planning to scrap its dual share structure Shell on Friday officially changed its name, ditchi...

By  Shubhangi On  2022-01-22 00:02:00
GM targets to expand hydrogen fuel cell market beyond vehicles

• GM said the availability date and price for the generators would be announced later • The company is pushing for green hydrogen, which would help reduce the production cost General Motors Co (NYSE: ...

By  Arghyadeep On  2022-01-20 02:55:00
Exxon pledges to reduce carbon emissions to zero by 2050

• Exxon plans to reduce emissions from oil, gas and chemical production • Exxon announced to increase spending on projects aiming at lowering carbon emissions Exxon Mobil Corp (NYSE: XOM) on Tuesday p...

By  Shubhangi On  2022-01-19 00:35:00
Crude oil hits highest level since 2014 following Houthi attack in UAE

• Brent crude futures rose 0.9% to $87.24 per barrel • U.S. West Texas Intermediate futures jumped 1.6% to $85.16 per barrel Crude prices hit their highest level in seven years since 2014 after the de...

By  Yashasvini On  2022-01-18 21:56:00
U.S. oil producers expand well completions as oil prices soar

• Number of pressure pumping units rose 5% in December compared to the previous month • Oil prices in U.S. rose to more than $81 per barrel, from $53 a year ago U.S. oil and gas producers are expandin...

By  Shubhangi On  2022-01-13 02:38:00
U.S. driller Presidio in talks to buy Exxon shale gas wells - Reuters

• Fayetteville Shale's production capacity has declined by half since 2016, to around 227 million cubic feet per day • The assets were valued between $400 million and $500 million Texas-based Presidio...

By  Arghyadeep On  2021-12-21 02:44:00
OPEC+ agrees to hike oil output following pressure from U.S.

• OPEC+ to increase output by 400,000 barrels per day in January, as decided earlier • Brent crude futures rose 1.16% at $69.67 per barrel on Thursday OPEC and its oil producing allies, commonly known...

By  Shubhangi On  2021-12-03 00:35:00
Exxon’s targets reduced greenhouse emissions along with doubled earnings forecast

• Exxon Mobil raised its targets to reduce its greenhouse gas intensity by 20%-30% by 2030 • The company intends to spend between $20 billion and $25 billion per year till 2027 Exxon Mobil has increas...

By  Yashasvini On  2021-12-01 23:40:00
U.S. to release 50 million barrels of crude to combat price rise

• U.S. China, Japan, India, South Korea, and the U.K. will release oil reserves to combat the rise in energy prices • The U.S. will tap into its Strategic Petroleum Reserve (SPR) over the next several...

By  Yashasvini On  2021-11-24 00:03:00
UAE Minister supports OPEC+ decision on oil supply

• UAE minister asked to trust OPEC+ decision to not increase oil supply • OPEC+ has been under pressure from the U.S. to pump more oil to the market The United Arab Emirates' energy minister said on W...

By  Shubhangi On  2021-11-18 00:02:00
Rising gas prices trigger sharp demand for coal in Europe

• Coal powerplants are gaining massively with falling coal prices and surge in demand for energy amid the natural gas shortage • Amount of electricity produced from coal across Western Europe, rose 20...

By  Yashasvini On  2021-11-17 23:56:00
Nord Stream 2 pipeline blockage pushes gas prices up by 17% in Europe

• Germany's energy regulator suspended certification proceedings • Gas prices in the Netherlands shot to three-week highs while in the U.K., they jumped by 9.4% Gas prices in the UK and EU rose by 17%...

By  Yashasvini On  2021-11-16 22:42:00
Royal Dutch Shell ditches the Dutch, will move HQ to London

• The oil giant will consolidate its London and Amsterdam businesses to navigate to a lower-carbon global energy system • It said that the new structure will facilitate shareholder returns and amend i...

By  Yashasvini On  2021-11-15 23:03:00
Coal stocks fall after Glasgow climate summit

• China Shenhua Energy and Yanzhou Coal fell 1% and 2.4% respectively in Hong Kong • Indonesia experienced a bigger plunge due to rising production in China Coal miners' shares fell on Monday after pl...

By  Shubhangi On  2021-11-15 21:33:00
Macron announces relaunch of nuclear reactors to counter energy crisis

• French President Emmanuel Macron announces the relaunch of nuclear reactors • France relies on nuclear power for nearly 72% of its electricity needs In a bid to reduce France's dependence on foreign...

By  Yashasvini On  2021-11-10 23:02:00
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
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