The EU’s partial embargo covers Russian oil brought into the bloc by sea, with an exemption carved out for imports delivered by pipeline following opposition from Hungary. Attila Kisbenedek | Afp | Getty Images Moscow pledged to find other importers for its oil shortly after the world’s largest trading bloc agreed to impose a partial
Month: May 2022
In this article @LCO.1 @CL.1 EU leaders reached an agreement to ban 90% of Russian crude by the end of 2022. Joe Klamar | Afp | Getty Images Oil prices jumped after EU leaders reached an agreement late Monday to ban 90% of Russian crude by the end of the year. During Asia hours on
Samsung Engineering and Technip Energies have received a Pre-FID engineering contract for the Texas LNG project in Brownsville, Texas, USA. The two companies expect to form a joint venture after Pre-FID engineering, which, under the terms of the Pre-FID contract, will transition into a subsequent contract for the project design and delivery of Texas LNG,
By Simon Alvarez Posted on May 30, 2022 Elon Musk has given credit to China for its hard work in renewable energy and electric vehicles. The Tesla CEO’s points were shared on both Twitter and Weibo. “Few seem to realize that China is leading the world in renewable energy generation and electric vehicles. Whatever you
Oil prices rose as traders closely monitored the prospect of the EU agreeing to impose a ban on Russian oil imports. Attila Kisbenedek | Afp | Getty Images The European Union on Monday will continue to work toward an agreement to embargo Russian oil after attempts to do so on Sunday failed. The talks are
In this article ALO-FR SIE-DE A train passes through a station in Egypt. The project involving Siemens Mobility will use trains that can reach a top speed of 230 kilometers per hour, and the line will be fully electrified. Paulvinten | Istock | Getty Images A new high-speed rail line is coming to Egypt, with
BP Plc said it will look again at its plans in the UK, raising questions about whether a £5 billion windfall tax on oil and gas profits announced by the government included enough incentives to preserve investment. The statement opens up the possibility of reversal by the London-based oil major, which has previously said that
By Simon Alvarez Posted on May 29, 2022 Tesla recently rolled out an update to its vehicles’ navigation system that makes energy consumption calculations incredibly accurate. The update was released as part of software version 2022.16.0.2. Prior to the update, Tesla’s navigation system predicted a vehicle’s energy usage using data like distance, elevation changes, and
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WASHINGTON — In May, the collapse of one of the most popular U.S. dollar-pegged stablecoin projects cost investors tens of billions of dollars as they pulled out in a panic that some have compared to a bank run. But before that, the stablecoin known as terraUSD (or UST, for short) and its sister token luna,
WASHINGTON — The U.S. has dropped the ball on crypto regulation, according to Securities and Exchange Commissioner Hester Peirce, and she says the knock-on effects of that failure keep her up at night. “There’s a lot of fraud in this space, because it’s the hot area of the moment,” Peirce told CNBC on the sidelines
The Biden administration is reaching out to the oil industry to inquire about restarting shuttered refineries, as the White House scrambles to address record high-gasoline prices that are setting off political alarm bells ahead of the midterm elections. Members of the National Economic Council and other officials have inquired within the industry about factors that
By Joey Klender Posted on May 28, 2022 Tesla CEO Elon Musk’s Twitter stock purchase has caught the attention of the Securities and Exchange Commission. The agency sent Musk a letter in April, which has now been released. The letter asks Musk why he did not file the required paperwork, which would disclose he has
In this article ETH= WASHINGTON — It’s been a brutal few weeks for the crypto market. Half a trillion dollars was wiped off the sector’s market cap as terraUSD, one of the most popular U.S. dollar-pegged stablecoins, imploded virtually overnight. Meanwhile, digital coins such as ether continue to take a beating on the price charts,
This is a close up view of an X-ray Photoelectron Spectroscopy system being used at the Idaho National Lab measuring surface chemistry on a potential candidate material to use for fusion. Masashi Shimada has been researching nuclear fusion since 2000, when he joined the graduate program at University of California San Diego. He’s currently the
Spanish Prime Minister Pedro Sanchez has said his country — and southern Europe more broadly — could provide an answer to the shortfall in gas supplies from Russia as the region looks to double down on sanctions against Moscow. “Spain and, I would say, Southern Europe, will have a chance to provide an answer to this
U.S. Bureau of Safety and Environmental Enforcement (BSEE) evaluated the ability of Lobo Operating to deploy a water-cooled fire boom system. The evaluation was carried out on May 18, just off Pelican Island, outside the jetties in the Gulf of Mexico. It is a requirement of the Oil Spill Response Plan (OSRP). “Fire booms are
By Joey Klender Posted on May 27, 2022 Contemporary Amperex Technology Co (CATL) said it would begin supplying German automaker BMW with cylindrical battery cells for its next generation of electric vehicles beginning in 2025. CATL said it had signed an agreement with BMW “in which it is nominated as the supplier of the cylindrical
The G7, made up of the world’s largest economies, today agreed to “predominantly decarbonized electricity sectors by 2035.” The G7 also agreed to end government financing for international coal-fired power generation and speed up the phase-out of unabated coal plants by 2035. “Unabated” refers to electricity generation that doesn’t use technology to capture emissions. The
A gas station is seen as the average price of gasoline reach all-time high at $4.37 per gallon (about 3.8 liters) in Virginia, USA on May 10, 2022. It’s claimed that gasoline prices vary by region. Yasin Ozturk | Anadolu Agency | Getty Images Memorial Day marks the start of the summer driving season, and
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