Other News

World’s largest nuclear plant won’t re-open for ‘several years’

World’s largest nuclear plant won’t re-open for ‘several years’

Steps to re-open the Kashiwazaki-Kariwa nuclear power plant are being taken by owner Tokyo Electric Power Company Holdings Inc. (Tepco), but the process will take ‘several years’. This comment came from the Governor Ryuichi Yoneyama, of the Niigata Prefecture. He highlighted the 2011 Fukushima disaster as the primary cause of […]

NEW YORK - APRIL 27: Financial professionals sit in the Goldman Sachs booth on the floor of the New York Stock Exchange watch a television showing market news April 27, 2010 in New York City. U.S. stocks dropped sharply April 27 after Standard & Poor's downgraded the debt of Greece and Portugal, sending the Dow Jones industrial average down more than 200 points.  (Photo by Chris Hondros/Getty Images)

Energy steps ahead of other commodities in 2016

Energy was the top pick in 2016 according to the S&P Goldman Sachs Commodity Index, with energy commodity prices rising more than any other major commodity group last year. The S&P GSCI shows that the price of energy stocks shot up by 48% over the course of 2016. This growth […]

Despite assurances, UK taxpayer still liable for new nuclear loan guarantees

Despite assurances, UK taxpayer still liable for new nuclear loan guarantees

The UK taxpayer may be liable for £2 billion of loans linked to the new nuclear power station at Hinkley Point, despite the UK government previously ruling this option out. EDF, which will build the plant, had been originally offered the loan guarantees in 2015. But last September ministers announced […]

Australian government backs future investment in coal

Australian government backs future investment in coal

 The Australian government is backing a $100 billion investment target in the coal industry, including increasing production and eyeing up the potential of international exports.  The resources Minister Matt Canavan said: “For the foreseeable future, coal will remain one of the core parts of the energy supply mix to provide […]

Massive growth in Carbon Capture as number of projects double

Massive growth in Carbon Capture as number of projects double

The number of Carbon Capture and Storage (CCS) projects around the world has doubled in the last six years as industries are increasingly taking up the technology. The Global CCS Institute’s latest report Global Status of CCS 2016 found that by the end of 2017 there will be 38 large-scale projects […]

Iraq claims Kurdish non-compliance in OPEC deal 

Iraq claims Kurdish non-compliance in OPEC deal 

The Prime Minister of Iraq Haider al-Abadi has accused the semi-autonomous region of Kurdistan of exporting more oil than their allotted share under the OPEC agreement. According to the Iraqi Ministry of Natural Resources, the region had pumped 567,646 bpd to Turkey’s Ceyhan port in November; almost double the 250,000 […]

US set to challenge Indonesia in South Korea coal market

US set to challenge Indonesia in South Korea coal market

US thermal coal is expected to begin shipping to South Korea during the first quarter of 2017, according to market sources. South Korean energy companies are currently waiting for the inauguration of President-elect Donald Trump on January 20 before starting talks with US thermal coal exporters, in a development that […]

Maersk to end operations at North Sea gas field

Maersk to end operations at North Sea gas field

Maersk Oil today confirmed that they would be moving forward with plans to end production at the North Sea Tyra gas field. Tyra is located in the small stretch of the North Sea owned by Denmark and provides 90% of the country’s supply of natural gas. Some commentators have warned […]