Citi

United States

IEA Lowers 2020 Oil Demand Forecast Citing Dismal Aviation Sector

The International Energy Agency (IEA) cut its 2020 oil demand forecast on Thursday, warning that reduced air travel due to the coronavirus pandemic would lower …

Electric Car

Israel Expects Half Of New Cars Sold In 2030 To Be EVs

Israel is preparing for a massive roll-out of electric vehicles on its roads over the next decade and is instructing its cities to build hundreds of charging po…

Saudi Arabia

Saudi Arabia’s Oil Exports Fall 65% in May, WTI Regains $42

Citing official data, Oil exports from Saudi Arabia, the OPEC’s top producer, fell by 44,277 million riyals (USD12 billion) or 65.0% in May 2020.

Clean emission

Around 90% of Indian Cities have no Budgetary Allocation for City-Specific Clean Air Plans

Only nine among India's 102 cities have a city-specific clean air plan with an outlined budget for the execution of the proposed air pollution mitigation activi…

Solar Company

Shell Scrambles to Secure Solar Buyers In Brazil

Shell is looking for buyers for the energy to be produced at solar farm in Brazil, citing the Anglo-Dutch major's solar business development manager for Latin A…

Citi unveils $1.5 Billion Green Bond to Combat Climate Change

American multinational financial services firm Citi has unveiled its first US dollar-denominated green bond to finance environmental-friendly projects.

Crude Oil

Oil Tanker Rates Plunge More Than 50% As OPEC+ Cuts Start

​The daily rate for chartering an oil tanker from Saudi Arabia to China has plunged by over 50 percent in one week to $100,000 as OPEC+ begins on Friday the co…

Crude Oil

U.S. Oil Companies Begin Sending Crude To Strategic Petroleum Reserve

U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official.

Wind Power Project

Citi Financing Leeward Renewable’s $163M Mountain Breeze Wind Farm

Dallas-based wind developer Leeward Renewable Energy LLC has completed the financing for its planned $163 million Mountain Breeze project in Colorado.

Solar Power Plant

New UK Solar Generation Record Set Amidst Air Pollution Collapse

A new peak solar generation record has been set in the UK, with the industry citing a collapse in air pollution levels linked to the country’s lockdown as havi…

Coal Mine

Citi Stop Working with Hermal Coal Miners, to Reject Funding for Arctic Oil, Gas Exploration

Citigroup will stop providing financial services to thermal coal-mining companies over the next 10 years to help accelerate the economy’s shift away from fossi…

Wind Farm

GE Signs Contract for Vietnamese Wind Farm

To formalise the award of the contract, a signing ceremony using video links from five different cities included DECONNIN JSC, HANOINCO JSC, Agribank Trang An (…

Nuclear Power Plant

Fire Raging Near Ukraine's Chernobyl Poses Radiation Risk

A huge forest fire in Ukraine that has been raging for more than a week is now just one kilometre from the defunct Chernobyl nuclear power plant and poses a rad…

Energy Storage Battery

Are Flow Batteries The Future Of Energy Storage?

Rows of huge tanks full of chemical solutions storing energy generated from massive solar and wind farms and powering whole cities: It’s a landscape that mille…

Solar Company

WoodMac Expects 106 GW of Newly Deployed Solar This Year

As Chinese PV manufacturers are now on the way to fully utilizing their production capacities, it is becoming increasingly clear how much coronavirus containmen…