Economy

Nuclear Power Plant

E.ON Sells German Nuclear Power Ahead at Above-Market Prices

German utility E.ON said on Wednesday it has sold forward 73 per cent of its 2021 nuclear power generation and 46 per cent of its 2022 output at prices above th…

Portugal

EDP Renewables to Divest 242MW Onshore Wind Farm Portfolio

Portuguese utility firm EDP is to sell a portfolio of seven onshore wind farms in a €426 million ($502 million) deal.

Spain

Spain-Based Iberdrola Takes Over Infigen Energy

It proposed to buy the Australian producer for $638m.

United States

Sasol Sees Loss With $6.3 Billion in Writedowns, Oil Slump

Sasol Ltd. said it will swing to a full-year loss per share after writedowns on U.S. chemical assets contributed to 112 billion rand ($6.3 billion) of charges a…

Equinor Names New Chief Executive

Anders Opedal has been named as Equinor’s new president and chief executive, with a vow to accelerate the company’s growth in renewables.

Saudi Arabia

Saudi Aramco Profit Collapses But Oil Giant Retains $75bn Dividend

State oil giant Saudi Aramco saw profit collapse nearly 75 per cent in the second quarter as the coronavirus pandemic decimated oil prices around the world.

Coal Mine

Deutsche Bank to End Lending for Coal Mining by 2025

Would not finance projects in the oil and gas sector that use hydraulic fracturing in countries with scarce water supplies, new projects in the Arctic region, a…

Oil Price

Saudi Aramco Profit Drops 50% for First Half of the Year as Pandemic Batters Oil Price

Oil giant Saudi Aramco reported a 50% fall in net income for the first half of its financial year, reflecting a devastating year for oil markets and the global …

Swedish Energy Agency Allocates $3.5M in Latest Marine Energy Call

The Swedish Energy Agency has recently opened a call for the development of cost-effective and sustainable marine energy systems.

Cyprus

EU Banks Support Natural Gas Adoption in Cyprus

The Natural Gas Infrastructure Company of Cyprus has secured a €80 million loan from the European Bank for Reconstruction and Development.

United Arab Emirates

Abu Dhabi Plans to Construct New Projects in Energy Sector

Awaidha Murshed Al Marar, Chairman, Abu Dhabi Department of Energy (DoE), has said that encouraging investment in the energy sector is one of the department's s…

United Kingdom

BP Cuts Dividend for First Time in a Decade After Record Loss

The dive into the red came after the firm slashed the value of its oil and gas exploration assets in response to price forecasts.

Nuclear Power Plant

France Remains the Top Country for Nuclear Power

A series of measures have been announced aimed at making the economy more environmentally friendly such as a ban on outdoor heaters at bars and restaurants.

United States

Chevron Posts Massive $8.3 Billion Loss

U.S. oil major Chevron hit the red hard as it reported a massive loss of $8.3 billion, or almost $4.5 per diluted share, for the second quarter of 2020.

Electricity Transmission

Brazil's State-Owned Eletrobras to Invest $1 Billion a year Through 2035

Brazilian state-owned power company Eletrobras plans to invest 6 billion reais per year until 2035 expanding its power generation and transmission.