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World oil prices on Thursday breached $100 for the first time in more than seven years, this time on supply fears after major producer Russia attacked Ukraine. European benchmark Brent North Sea crude surged more than eight percent to $105.79 per barrel — the highest level since 2014. US contract West Texas Intermediate reached $100.54 per barrel, also a peak last seen more than seven years ago. That capped a meteoric rise over almost two […]
by Juliette MICHEL Agence France-Presse NEW YORK, United States (AFP) – Energy companies interested in developing offshore wind sites bid more than $1.5 billion Wednesday in by far the biggest US auction for the renewable power. After launching the auction Wednesday morning, US officials released updates throughout the day as the bids gradually rose on six available tracts involving nearly 500,000 acres off the coasts of New York and New Jersey. After 21 rounds of […]
Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine, sparking Western nations to ready economic sanctions against Moscow. After heavy falls at the open, European stocks edged into positive territory as the Kremlin said it remained open to all diplomatic contact over Ukraine. “The old adage goes that the market hates uncertainty and while that has clearly been evident at […]
MADRID, Spain (AFP) – Spain and Denmark reiterated Monday their opposition to plans by the European Union to label gas and nuclear energy projects as green investments, an issue that has divided the bloc. The two nations believe such a move would send “the wrong message to investors and society as a whole”, Spanish Prime Minister Pedro Sanchez told a joint news conference in Madrid with his Danish counterpart Mette Frederiksen. The European Commission drafted […]
PARIS, France (AFP) – French giant TotalEnergies on Monday announced the discovery of significant reserves of oil and gas off the coast of Suriname and said it would begin exploration soon. The company has several exploration licences in the South American nation and made the announcement jointly with US firm APA. “TotalEnergies and APA Corporation have made a significant new oil and associated gas discovery at the Krabdagu-1 well, in the central area of Block […]
by Andrew BEATTY Agence France-Presse SYDNEY, Australia (AFP) – Australia’s largest coal-fired power plant will shut in 2025 — several years sooner than planned — operators announced Thursday, saying the facility is no longer viable given the low cost of renewables. Origin Energy told investors the “influx of renewables” was “undermining the economics” of the vast decades-old Eraring plant just north of Sydney. Australia is one of the world’s largest coal producers and the climate […]
BEIJING, China (AFP) – China will help its coal-fired power plants run at full capacity, the government has announced, raising further alarm about the fate of Beijing’s climate pledges. Swathes of the world’s second-biggest economy were paralysed last year because of power shortages, partly caused by a drop in coal supply as global prices of the fossil fuel soared. China is the world’s biggest emitter of the greenhouse gases responsible for climate change, and has pledged […]
PARIS, France (AFP) – French energy giant Engie warned Tuesday that a conflict between Russia and Ukraine would be “bad news” for Europe’s gas supplies and defended the controversial Nord Stream 2 pipeline as being “in all our interests”. Engie is one of five European partners in the massive Russian pipeline running under the Baltic Sea from Russia to Germany. The pipeline, which has been completed but is still awaiting regulatory approval in Germany, has […]
BELFORT, France (AFP) – President Emmanuel Macron called Thursday for a “renaissance” for the French nuclear industry, saying he wanted up to 14 new reactors to power the country’s transition away from fossil fuels. “What we have to build today, because it’s the right moment, is the renaissance of the French nuclear industry,” Macron said at a strategic turbine factory in Belfort, northeast France. “I want six EPR2s to be built and we will launch […]
MEXICO CITY, Mexico (AFP) – US climate envoy John Kerry called Wednesday for an “open and competitive” energy market in Mexico, where planned energy reforms have alarmed foreign investors and environmentalists alike. Washington has stepped up pressure on Mexico over President Andres Manuel Lopez Obrador’s push to boost the state’s role in the energy industry — moves critics say favor fossil fuels over renewable energy. Meeting with Lopez Obrador and other top officials in the […]
OSLO, Norway (AFP) – Norway’s government on Wednesday presented a plan to build a large-scale offshore wind power farm in the North Sea, saying it hopes to have the first turbines up by 2030. The Scandinavian country — the largest oil producer in Western Europe — will launch a public tender aimed at building the first phase of a wind project in the southern waters of the North Sea. “This is about ensuring access to […]
HANOI, Vietnam (AFP) – Vietnam on Wednesday arrested a high-profile environmentalist known for taking on the energy industry on suspicion of tax evasion, state media said. Nguy Thi Khanh, 46, has been one of the few voices in Vietnam prepared to challenge plans to increase coal power to fuel economic development. Her organisation GreenID, Vietnam’s best-known environmental NGO, convinced the government to reduce some of its coal targets and sparked a national conversation about rising […]
