Economy

EU Sets Aside EUR 980 Million for Clean Energy Infrastructure

The European Commission has released EUR 980 million of funding for key European energy infrastructure projects with major cross-border benefits.

Ireland Shares €1m for Research Targeting Geothermal Energy

Three projects in Ireland are to receive a share of €1m in funding for research targeting geothermal energy.

PG&E Wins Approval for $23 Billion Bankruptcy Financing Package

Power producer PG&E Corp (PCG.N) said on Monday that it won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin News…

Oil giant Saudi Aramco Sees 2019 Profits Drop 20% to $88.2B

Oil giant Saudi Aramco said Sunday its profits dropped 20% in 2019 to $88.2 billion, a sharp decline coming as the kingdom stands ready to flood an already-weak…

U.S. to Spend $50 Billion, Buy Oil Amid Virus Economic Pain

With the economy reeling, United States President Donald Trump on Friday, March 13, declared a national emergency to stem the damage from the coronavirus, unloc…

Offshore Wind Power

The U.S. Is Ramping Up Its Wind Power Production

We already know that in order to meet the international greenhouse emissions standards set by the Paris climate agreement, we are going to have to do a lot more…

Oil Price

Lower Oil Prices to Provide Tailwinds to Indian Economy

The present run of lower oil prices will bring significant benefits for the Indian economy as reduced import bill and lower current account deficit and inflatio…

COP26 President Presents Opportunities from Low-Carbon Goals

The United Nations' climate talks this year can be a moment where the world comes together to ramp up momentum towards a climate-resilient, zero-carbon economy,…

Poland Faces $15 Billion Nuclear Power Bill over 20 Years

Poland will have to spend 60 billion zlotys (12.2 billion pounds) on its planned nuclear power plants over the next 20 years, the Polish minister responsible fo…

Slovakian Govt backs EUR-1bn EV Battery Gigafactory by InoBat

InoBat Auto, the Bratislava-based battery maker with plans for a 10-GWh plant, has secured funding from the Slovakian government for a research and development …

Concerns Over £1.1bn Cross-Channel Power Link’s Impact on Proposed Sussex Windfarm

Concerns have been raised that the proposed £1.1bn Aquind Interconnector between the UK and France will impact the construction of a windfarm on the Sussex coa…

Solar Power Panel

Australia Could Soon Export Sunshine to Asia Via a 3800-km Cable

Australia is the world's third largest fossil fuels exporter – a fact that generates intense debate as climate change intensifies. While the economy is heavily…

Saudi Economy Grows just 0.3% in 2019 as Oil Sector Shrinks

Saudi Arabia’s economy grew by a weaker-than-expected 0.3% in 2019 as the oil sector contracted sharply, official data showed on Sunday, although the non-oil s…

Oil Price

Russia's Putin Says Current Oil Prices Acceptable

Russian President Vladimir Putin said on Sunday that current oil prices were acceptable and that Russia had the tools to react to any negative effects of the sp…

Almost £4 million Raised for Company Behind MeyGen Project

SIMEC Atlantis Energy, the company behind the poineering MeyGen renewable energy project in the Pentland Firth, has raised almost £4 million in a successful bo…