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Crude Oil

European Refiners Oversupplied as Oil Shortage Fears Subside

European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet to materialise.

EIB-Backed Fund Closed: €220m for Energy Efficiency BTM Projects

SSEF, an EU-focused fund backed by the EIB and advised by Solas Capital AG, has reached final close with investment commitments of €220 million ($228.4 million…

Energy Transition

ADB Sees ‘Significant Progress' in Energy Transition Mechanism

The ETM was launched at COP26 last year.

Net Zero Emission

U.S. Aims for Zero-Emissions Heavy-Duty Vehicles by 2040

The United States aims to only sell and produce zero-emissions medium- and heavy-duty vehicles like school buses and tractor trailers by 2040, the U.S. energy s…

Electric Car

New G20 Irritant for Biden: Restrictive U.S. Electric Vehicle Tax Subsidies

Electric vehicles (EVs) shuttled G20 delegations and security forces across the southern tip of Bali this week in a symbolic show of Indonesia's ambitious energ…

Energy Transition

The Energy Transition Will Fail Unless Industry Fixes Wind Power Issues, Siemens Energy CEO Says

Siemens Energy says its “overall performance” has been “held back by the negative development at Siemens Gamesa Renewable Energy,” a wind turbine manufactur…

United States

NERC Warns of Tight Generation Resources, Fuel Supply Issues This Winter

Power shortfalls could be rife over the next three months across a large portion of the North American bulk power system (BPS), particularly during extreme and …

Energy Storage Project

US Long-Duration Energy Storage Demos to Receive $350M Funding

Projects that are capable of delivering electricity for 10 to 24 hours or longer will be supported.

United Arab Emirates

Jordan, Israel, UAE Tie Up to Advance Project Prosperity

The countries seek to develop clean energy and sustainable water desalination.

Electric Car

GM EV Unit BrightDrop Expects $1 Billion in 2023 Revenue, Mass Production of All-Electric Delivery Vans to Start in December

BrightDrop, GM’s EV subsidiary, is forecasting $1 billion in revenue for 2023, its first revenue disclosure which came during GM’s annual investor day on Thur…

Global Commission Formed to Accelerate Approvals of Renewables, Green Hydrogen

It is expected to present its recommendations to the UN General Assembly in September 2023.

G7 Hydrogen Consumption Could Grow by up to 7 Times

IRENA asked the G7 countries to lead the market.

Electrical Grid Health Key Tool to Decarbonise Cities – WEF

The World Economic Forum (WEF), in partnership with four global organisations, is launching the Toolbox of Solutions to drive urban decarbonisation.

EU

COP27: EU and Egypt Unite Behind Green Hydrogen and a Just Transition

The EU and Egypt have signed a cooperation agreement to develop renewable hydrogen and prepare the groundwork for a just transition in Egypt.

Net Zero Emission

Turkey Needs EUR 9.6 Billion Annually to Achieve Climate Goals

Turkey will need around EUR 9.6 billion of investments annually to raise the capacity of solar, wind, and storage technologies and reduce fossil fuel consumptio…