The United States is eager to advance energy ties with Greece and see the country become a key energy gateway to Europe, the new U.S. ambassador to the country, Kimberly Guilfoyle, said on Wednesday. Greece has ramped up purchases of U.S. liquefied natural gas and built a second LNG terminal as it seeks to establish...
Breakthroughs in drilling methods and heat extraction techniques are widening the appeal of geothermal power systems across the world, and geothermal generation capacity is on track to double once projects currently in development are completed. Currently, only around 2% of global energy generation comes from geothermal projects, according to Energy Institute data, which places the...
With the exception of goldbugs, almost everyone seems to have abandoned their inflation worries. The Federal Reserve is easing again, Wall Street stocks and bonds are rising in tandem, and even the bruised dollar has perked up a bit. The Fed’s strict 2% inflation target seems to be a thing of the past. And yet...
Indonesia’s President Prabowo Subianto has issued a new decree to restart international carbon emission trading after a four year hiatus, according to a copy of the decree seen by Reuters on Wednesday. The Southeast Asian country issued carbon market rules in 2021 that focused on compliance carbon markets rather than transactions in voluntary markets. Read...
German Economy Minister Katherina Reiche on Monday unveiled a 6 billion euro ($7 billion) funding initiative aimed at industrial decarbonisation, incorporating carbon capture and storage (CCS) technology into the country’s climate protection contracts for the first time. The program targets energy-intensive sectors such as chemicals, steel, cement and glass, as Germany navigates stringent climate targets...
Goldman Sachs expects OPEC+ to raise oil production quotas by 140,000 barrels per day for November, it said on Tuesday, ahead of the group’s meeting on Sunday. It said, however, a larger production hike was also plausible, citing factors including an only modest increase in OECD commercial stocks in Europe and Asia. Total inventories remain...
A group representing nearly all major automakers asked the Trump administration Tuesday to roll back aggressive vehicle emissions limits that seek to force the industry to build a rising number of electric vehicles. The Alliance for Automotive Innovation, which represents General Motors (GM.N), Toyota Motor (7203.T), Volkswagen (VOWG.DE),, Hyundai (005380.KS), and other major automakers, said in a filing with the...
Governors of more than a quarter of U.S. states are pushing for greater influence over the country’s biggest power grid — PJM Interconnection — where electricity prices are surging as demand driven by AI data centers outpaces the connection of new supplies. Rising power bills in PJM, which operates the grid covering 13 states and the District of Columbia,...
The Australian government said on Wednesday it would invest A$1.1 billion ($735 million) in the development of a low-carbon fuels industry, a move welcomed by farm groups, who hope it will boost demand for biofuel feedstocks like canola and sugarcane. The money, to be released over 10 years from 2028, is intended to stimulate private...
Oil prices rose on Tuesday as markets weighed a potential disruption of supplies from Russia due to Ukrainian drone attacks on its ports and refineries as well as the prospect of a U.S. central bank interest rate cut. Brent crude futures were up 67 cents, or 1%, to $68.11 a barrel at 1318 GMT, while...
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