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United Kingdom

Octopus Acquires Solar Developer

Zestec has a pipeline of more than 160MW of new UK solar energy.

Oil Price

Saudi Arabia Cuts Oil Prices to Asia to 10-Month Low

Saudi OSPs to Asia hit 10-month low amid slowing physical demand.

Global Energy Efficiency Investments Jump 16% YoY in 2022: IEA

It reached $560b this year.

EU

France’s €13.5bn Scheme to Compensate Energy-Intensive Firms Granted EU Approval

The scheme will cover part of the higher electricity prices arising from the impact of carbon prices on electricity generation costs incurred between 2021 and 2…

Crude Oil

Aker BP to Invest $19 Billion in Offshore Oil Projects in Norway

Norway’s oil and gas firm Aker BP approved plans to invest $19 billion in developing new projects offshore Norway by 2028, raising its initial capital expendit…

India

Amazon, Vibrant Energy to Develop 300MW Renewable Projects in India

Once completed, it is expected to produce 1.163 million MWh of clean energy.

Nuclear Power Plant

Nuclear Power Is Finally Poised to Ramp up Again in Japan

The Japanese have been hesitant to re-embrace nuclear power following the triple reactor meltdowns at the Fukushima Daiichi plant in 2011, but there are indicat…

China

China’s Renewables Could Grow up to 6,000GW by 2050

Power demand is projected to reach 13,600TWh by 2050.

OPEC

Reuters Survey: OPEC Cut 710,00 Bpd in November

Led by Gulf member states, OPEC oil output dropped in November in line with the OPEC+ pledge to cut output by 2 million barrels per day for the month, according…

Natural Gas

Shell to Acquire Nature Energy

Shell Petroleum NV, a wholly owned subsidiary of Shell plc, has reached an agreement with Davidson Kempner Capital Management LP, Pioneer Point Partners, and Sa…

Carbon Emissions

Heat Pumps Can Reduce Carbon Dioxide Emissions by 500 Million Tonnes by 2030, IEA Says

Additional annual investment of $160 billion until 2030 will be needed to meet global climate pledges.

Net Zero Emission

Tourism Sector Must 'Decouple' Growth Rate from Energy Consumption for Greener Future

Between 2010 and 2019, the sector’s GDP grew 4.3% annually while its climate footprint rose by 2.4%, WTTC says

Nuclear Power Plant

UK Government Steps up as 50% Owner of 3.2-GW Sizewell C EPR Nuclear Project

The UK government will bolster a proposal to build Sizewell C with a £679 million ($815 million) investment, giving the twin EPR nuclear power plant project—a…

United States

U.S. Senators Introduce Bill to Expand E15 Gasoline Sales, with Support from Oil Group

U.S. senators from Nebraska and Minnesota introduced legislation on Tuesday that would expand nationwide sales of E15.

LNG

Europe to Raise LNG Import Capacity Significantly Through 2024

The EU and the UK are expected to raise their combined LNG import capacity by 34%, or by 6.8 billion cubic feet per day (Bcf/d), by 2024 compared with 2021.