Russian state-owned energy giant Gazprom announced that it would halt gas supplies to Poland and Bulgaria after they refused to pay for gas in Russian rubles following the Kremlin’s demands. Andrey Rudakov | Bloomberg via Getty Images Europe could be pushed into recession if Russia’s gas squeeze widens, economists have suggested, after Gazprom cut off
Month: April 2022
Inflation in the euro zone remains well-above the ECB’s target, as energy and food prices soar. Bloomberg | Bloomberg | Getty Images Inflation in the euro zone has hit a record high for the sixth consecutive month, sparking further questions over how the European Central Bank will react. Headline inflation in the 19-member region reached
The Chevron logo is displayed as a tanker truck enters the Chevron Products Company El Segundo Refinery on January 26, 2022 in El Segundo, California. Patrick T. Fallon | AFP | Getty Images Chevron‘s profit more than quadrupled during the first quarter of 2022, as higher oil and gas prices boosted the company’s results. The
Petrobas’ board of directors has approved the $2.2 billion sale of interest in the Albacora Leste concession to Petro Rio Jaguar Petróleo, a subsidiary of Petro Rio S.A. Albacora Leste concession is located predominantly in deep waters in the Campos Basin. Petrobras informed of the signing of the purchase and sale agreement earlier this week
By Eric Ralph Posted on April 29, 2022 SpaceX has successfully launched and landed the same Falcon 9 booster twice in three weeks, smashing the current record for orbital-class rocket turnaround. The existing record was also held by Falcon 9 and set in early 2021 when booster B1060 launched a Turkish communications satellite and a
This week on the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. This week, we discuss Elon Musk selling Tesla (TSLA) shares to buy Twitter, GM announcing an electric Corvette, Ford starting F-150 Lightning production, and more. Sponsored by Recurrent Auto: Check the battery before buying a used EV
In this article XOM A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, May 15, 2021. Kathleen Flynn | Reuters Shares of Exxon Mobil slid on Friday after the company took a $3.4 billion after-tax charge related to its Sakhalin-1 operation in Russia. Exxon earned $5.5 billion during the first quarter, up
In this article GM VOW3-DE In 2021, Volvo Cars said it planned to become a “fully electric car company” by the year 2030, a move which will require it to have a consistent and secure supply of batteries for its vehicles. Peerapon Boonyakiat /SOPA Images | LightRocket | Getty Images The new CEO and president
A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. Sergio Moraes | Reuters California’s attorney general on Thursday announced an investigation into the fossil fuel and petrochemical industries for allegedly overstating the role of recycling in curbing global
Searcher Seismic, a multi-client geoscience data and services provider to the oil and gas and mining exploration and production companies, has added significant data to its South Africa 2D and 3D data library. The expansion has been achieved in cooperation with the Petroleum Agency of South Africa (PASA). The Orange Basin has recently astonished the
By Eric Ralph Posted on April 28, 2022 SpaceX appears to have opened the floodgates and begun shipping upgraded ‘Raptor V2’ engines to Starbase en masse in preparation for crucial Starship and Super Heavy testing. The first functional Raptor engine delivery in around half a year and the first Raptor V2 delivery ever appeared to
Drift ice – ice flows in the Arctic Ocean, Nordaustlandet, North East Land, Norway. Arterra | Universal Images Group | Getty Images Espen Barth Eide is Norway’s Minister of Climate and Environment. Fatih Birol is the Executive Director of the International Energy Agency. The energy crisis triggered by Russia’s inexcusable aggression against Ukraine has focused
A sewage treatment plant. The idea of reusing organic matter or waste in industrial processes and other initiatives is not a new one, and the last few years have seen a number of interesting projects take shape. Thomas Imo | Photothek | Getty Images An Australian plant that converts human waste into fertilizer and energy
Gazprom workers on the Yamal Peninsula in Russia. Bloomberg | Bloomberg | Getty Images Russia’s gas supplies to eastern Europe are looking highly uncertain after the country’s state-run gas giant Gazprom told Poland and Bulgaria that it would halt supplies. The move comes after both countries refused Moscow’s recent demand to pay for gas supplies
Norwegian oil major Equinor and Applied Petroleum Technology (APT) have joined forces in a research project that aims to replace costly downhole sampling and logging with more cost-efficient solutions. The oil and gas industry’s drive to reduce both its cost level and climate gas emissions has resulted in continued pressure to reduce the cost and
By Joey Klender Posted on April 27, 2022 A lawsuit between Tesla Shareholders and Elon Musk ended on Wednesday with a Delaware court ruling in favor of CEO Elon Musk. Shareholders believed Tesla’s acquisition of SolarCity in 2016 was a bailout of a company owned by two of Musk’s cousins, which was unfair to them.
Florida governor Ron DeSantis (R) vetoed a bill, which the state’s Republican-majority House and Senate passed, that would have slashed rooftop solar credits in the state. It would have denied many homeowners net metering in the Sunshine State, and harmed its solar industry. UnderstandSolar is a free service that links you to top-rated solar installers
In this article EUR= The euro traded almost 0.4% against the U.S. dollar to a level not seen since 2017. This after Gazprom decided to cut gas supplies to Poland and Bulgaria. Kinga Krzeminska | Moment | Getty Images The euro tumbled against the U.S. dollar Wednesday morning as investors grew increasingly concerned with energy
In this article STAN-GB Fossil fuels are ingrained in the global energy mix and companies continue to discover and develop oil and gas fields at locations around the world. Imaginima | E+ | Getty Images LONDON — The CEO of Standard Chartered believes it’s “ridiculous and naive” to think fossil fuel production can be immediately
Oil giant Petronas has signed a Production Sharing Contract (PSC) with SK Earthon and Petroleum Sarawak Exploration & Production (PSEP) for Block SK427 off the coast of Sarawak. SK Earthon, a wholly-owned subsidiary of South Korea’s SK Innovation, will be the operator of Block SK427 with an 85 percent participating interest while PSEP will hold
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