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United Kingdom

Windfall Tax to Cost UK-Focused Oil Firms More Than $3 Billion

The new windfall tax on profits of oil and gas companies in the UK is expected to cost the medium-sized North Sea-focused companies a total of $3.3 billion thro…

LNG

Shell Greenlights $2.5 Bln Crux Gas Project off Australia

Shell Plc said on Monday it had given the go-ahead to develop the Crux gas field off Australia, which analysts estimated would cost around $2.5 billion.

Net Zero Emission

Vanguard Commits $290 Bln of Assets to Be Net-Zero by 2050

Vanguard, the world's second-biggest asset manager, said it expects nine funds managing $290 billion to reach the world's climate goal by 2050 and be at least h…

Clean Energy Transition

S.africa Needs $250 Bln Over Three Decades for Clean Energy Transition - Report

Moving South Africa's coal-dominated economy onto a greener footing will require at least $250 billion over the next three decades, a report released on the sid…

Oil Price

UK Imposes 25% Energy Windfall Tax to Help Households as Bills Surge

Britain announced a 25% windfall tax on oil and gas producers' profits on Thursday, alongside a 15 billion pound ($18.9 billion) package of support for househol…

Hydrogen Project

Iberdrola Boss Pledges €3BN to Fuel Europe’s Green Hydrogen Economy

Ignacio Galán, chairman of Spanish energy giant Iberdrola, has announced at the World Economic Forum in Davos that the company will invest €3 billion ($3.2 bi…

Net Zero Emission

Elon Musk, Alphabet, & Joe Biden (USA) Just a Few Investing Billions Into Carbon Removal

As the world shifts toward clean energy in its automobiles and its energy generation tactics, experts say there’s still a lot of work to do to ensure global te…

United Kingdom

UK Energy Price Cap Expected to Rise by 42% In October

Billpayers in the UK have seen the energy tariffs rise faster than ever before.

Natural Gas

Could Hydrogen Ease Germany’s Reliance on Russian Gas?

The war in Ukraine has upended Germany's energy policy. The nation currently buys around 25% of its oil and 40% of its gas from Russia, contributing billions of…

Nuclear Power Plant

EDF Revises up Cost of Nuclear Power Plant Outages

The French nuclear power operator EDF says that the programme of inspections and repairs related to the stress corrosion issue means it has increased the hit it…

LNG

EU Unveils 210 Bln Euro Plan to Ditch Russian Fossil Fuels

The European Commission on Wednesday unveiled a 210 billion euro plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away …

Hydrogen Project

Rystad Energy: Egypt Invests in Green Hydrogen Economy

COP27 host Egypt has committed US$40 billion to green hydrogen economy to attract foreign investment.

Germany

RWE Issues New Us$2.1 Billion Bond to Chase Solar, Wind Projects

German utility giant RWE has issued a green bond with a volume of €2 billion (US$2.1 billion), the proceeds of which will be used to pursue development of sola…

Energy Transition

EU to Map Out Escape Route From Russian Fossil Fuels

The European Commission will on Wednesday unveil a 210 billion euro plan for how Europe can end its reliance on Russian fossil fuels by 2027, and use the pivot …

Electric Car

New Zealand Targets EVs, Industry with New $2.8 Billion Climate Response Fund

The New Zealand government said on Monday it would set up a NZ$4.5 billion ($2.83 billion) climate response fund, spending at least NZ$2.9 billion on cutting po…