Other News

Total purchase 10% stake in Russian LNG

Total purchase 10% stake in Russian LNG

French energy giant Total has agreed to take a 10% stake in Russia’s Arctic LNG 2 project, which is valued by its developer Novatek to be worth a total of $25.5 billion. Although Total did not specify the financials of the deal, Novatek’s chief executive Leonid Mikhelson said he was […]

Oil drops on OPEC expectations

Oil drops on OPEC expectations

Oil prices have fallen after reaching four-year highs as markets expect OPEC members to increase production in order to counter supply concerns from Iran and Venezuela. After reaching the $80 mark, international benchmark Brent crude has stumbled as investors became wary of OPEC increasing output to make up for the […]

Norway moves closer to oil exit

Norway moves closer to oil exit

Norway’s sovereign wealth fund worth $1 trillion is one step closer to exiting its oil and gas stocks after it won support from key Norwegian academics, despite concerns over diversification. During a consultation, academics from the Norwegian School of Economics (NHH), University of Science and Technology (NTNU) and the University […]

New global CCS alliance set to be unveiled

New global CCS alliance set to be unveiled

A major international initiative to galvanise investment in carbon capture and storage (CCS) is set to be announced by some of the biggest consumers of fossil fuels. The annual Clean Energy Ministerial, this year hosted in Copenhagen, will provide the forum for the unveiling of the plan, which would see […]

Europe faces blackouts after coal phase out

Europe faces blackouts after coal phase out

Europe has been struck with a shortage of power generation capacity and could face blackouts following the continent’s shift to phase out coal and nuclear, according to one of the continent’s biggest producers of gas. Tor Martin Anfinnsen, senior vice president for marketing and trading at Statoil ASA, said there […]

Ofgem launches investigation into the National Grid

Ofgem launches investigation into the National Grid

UK energy regulator Ofgem has begun an investigation into the National Grid Electricity Transmission’s (NGET) demand forecasting for Britain’s electricity market. According to a statement, the investigation will look into whether “NGET breached rules relating to its duty to operate the system in an economic and efficient manner”. The regulator […]

US judge blocks Oakland Port’s coal ban

US judge blocks Oakland Port’s coal ban

A federal judge has ruled against a local ban that prevents companies from transporting coal through Oakland in California – a key strategic location that links America’s coal industry with overseas markets. In a 37-page ruling, U.S. District Judge Vince Chhabria said the ban imposed by the city in 2014 […]

Oil gains supported by US sanctions on Venezuela

Oil gains supported by US sanctions on Venezuela

Oil prices have surged this week following renewed US sanctions on Venezuela following the re-election of President Nicolás Maduro. Since the election, US President Donald Trump has increased financial pressure on the rapidly deteriorating economy of Venezuela by banning the US purchase of debts or account receivables owed to the […]