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...
The United States wants to expand its energy ties with Greece, U.S. Interior Secretary Doug Burgum said during a visit to Athens on Thursday, as the Trump administration works to further reduce Russia’s oil and gas supplies to Europe. Burgum has been in Europe this week aiming to seal energy supply deals, which the U.S. hopes will...
Italy and the United States on Monday vowed to deepen energy ties including through increased exports to Italy of liquefied natural gas (LNG), as Europe continues to seek alternatives to Russian energy supplies following Moscow’s invasion of Ukraine. Italian Energy Minister Gilberto Pichetto Fratin and U.S. Interior Secretary Doug Burgum, after talks in Rome, pledged...
The U.S. Environmental Protection Agency on Friday approved most of its backlog of requests by small oil refineries for biofuel law exemptions, raising concerns among biofuels advocates over a potential hit to demand. The approvals are also a mixed blessing for the cohort of small U.S. refiners who have argued for years they are hurt...
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