Economy

Slovakia Launches First Renewables Auction

The ceiling price for solar and wind power has been set at €84.98/MWh. It is expected around 30 MW of generation capacity will be allocated and solar projects …

Three Gorges Group Started 25 New Energy Projects with a Total Investment of 58billion CNY

The Three Gorges Group issued a mobilization order through a video conference in Beijing on February 24, announcing the commencement of construction of 25 new e…

Teck Resources Drops Plans for $15.5bn Frontier Oil Sands Mine Project

The announcement comes just days ahead of a decision scheduled to be taken on the approval of the Frontier Oil Sands Mine Project by the Canadian cabinet.

China Starts to Reopen Gates to US Ethanol

China will offer tariff exemptions of nearly 700 types of goods from the US, including fuel ethanol, the Chinese government announced Tuesday, but traders are c…

China’s Exim Bank Agrees $214m Loan for Rwandan Dam

A $214m concessionary loan has been agreed between the Export-Import Bank of China and the government of Rwanda for the Nyabarongo II dam, to be built by Chines…

Coal Mine

Why the World’s Third-Largest Economy is Still Betting on Coal

Japan, the world’s third-largest economy, is leaning into coal power, a striking move at a time when the climate crisis is accelerating and most of its economi…

Trump's Agriculture Department Announces 30% Biofuel Goal for 2050

The U.S. Department of Agriculture on Thursday announced a goal for biofuels to make up 30% of U.S. transportation fuels by 2050, a move that could bolster an i…

U.S. Sanctions Rosneft Unit for Ties to Venezuela Oil Production

The U.S. sanctioned a unit of Russia’s largest oil producer Rosneft PJSC for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA,…

Asian Markets Fall as Coronavirus Hits Earnings, Growth

China is the world's biggest importer and consumer of oil, and crude prices have been particularly sensitive to the epidemic that has spread to nearly 30 countr…

OPEC Underestimates the Virus

The Covid-19 virus is a human tragedy for many who have been affected by it and it’s having a profound impact on the lives of a large part of the Chinese popul…

Libya's Oil Corporation: Blockade Losses Exceed $1.3 Billion

Economic fallout continues from the shutdown of Libya’s vital oil fields, with losses surpassing $1.3 billion, the national oil corporation announced Tuesday.

EDF Group Acquires 50% Interest in Irish Offshore Windfarm Project

The EDF Group has acquired a 50% interest in an offshore wind farm project in Ireland from wind energy company Hazel Shore.

US budget Request includes USD150 million for Uranium Reserve

The US Administration's 2021 budget request unveiled yesterday by President Donald Trump includes USD150 million to set up a uranium reserve to address challeng…

Russian Oil & Gas Firms Plan to Invest $20 BILLION in Iraq’s Energy Industry

Russian oil and gas companies could triple their investments in Iraq in the near future, Yury Fyodorov, first deputy chairman of the Economic Policy Committee a…

'Hypocrisy' : 90% of UK-Africa Summit’s Energy Deals Were in Fossil Fuels

More than 90% of the £2bn in energy deals struck at this week’s UK-Africa investment summit were for fossil fuels, despite a government commitment to “suppor…