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Crude Oil

World Bank: Energy Prices Set to Decline in 2023 After Sharp Rise in 2022

The World Bank has predicted that energy prices will decline by 11% in 2023 after having surged 60% in the current year following the war in Ukraine.

Guyana

Exxon Makes More Oil and Gas Discoveries Offshore Guyana

U.S. oil and gas major Exxon Mobil has announced on Wednesday that it has made two more discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block of…

Net Zero Emission

Saudi Aramco Unveils $1.5BN Sustainability Fund

It will initially focus on sectors such as carbon capture and storage, hydrogen, greenhouse gas emissions and energy efficiency.

Hydrogen Project

ACWA Power and Industrial Development Corporation of South Africa (IDC) Set to Explore Green Hydrogen Projects in South Africa

Agreement intends to accelerate the green hydrogen economy in South Africa and paves the way to project(s) potentially valued at $10 billion.

Solar Technology

Egypt’s First Financed Solar Battery PPA Project Secures Financing

A solar energy company spearheading a solar-plus-storage project in Egypt has secured $2.4 million in financing for the project.

Energy Transition

TotalEnergies Buys Stake in Brazilian Renewables JV

TotalEnergies and Brazillian developer Casa dos Ventos (CDV) have created JV to jointly develop, build and operate the latter's 12GW renewables portfolio.

Iberdrola Renewables Investment Rises

Iberdrola invested almost €8bn globally in the first nine months of 2022, an increase of 14%, with 90% of funding allocated to renewables and smart grids.

CCS

Babcock & Wilcox to Test Carbon Capture for Waste Coal and Biomass Project

US-based energy services company Babcock & Wilcox (B&W) was awarded a contract to study its carbon capture solution at a waste coal and biomass plant currently …

Energy Transition

Google and C40 Cities Launch Carbon-Free Energy Pilot

A new programme has been announced by Google and C40, a global network of mayors taking action to confront the climate and energy crisis, to explore and integra…

Solar Power Panel

More Space Between Solar Panels Can Increase Efficiency – Study

Latest analysis from the US National Renewable Energy Laboratory (NREL) has shown that spacing solar panels further apart can increase efficiency and improve ec…

SMR

NuScale and Prodigy Advance SMR Marine Facility Design

NuScale Power and Prodigy Clean Energy have announced a new concept design for a transportable and marine-based small modular reactor (SMR) power generating fac…

Offshore Wind Power

Ørsted Unveils Massive Offshore Wind Plan in Home Waters

Ørsted and Copenhagen Infrastructure Partners have joined forces to develop offshore wind

United States

Electrical Generation by US Renewables Grew by 17%

Electrical generation by wind increased by 22%, according to a report.

Hydrogen Project

UK Trial Will Inject Hydrogen Into a Gas-Fired, Grid-Connected Power Station

The hydrogen will be injected by Centrica Business Solutions into a gas-peaking plant in Lincolnshire, east England.

Net Zero Emission

Emissions Reductions Pledges ‘Nowhere Near’ What’s Needed, Un Says

The analysis comes ahead of next month’s COP27 climate change summit in Sharm el-Sheikh, Egypt.