Other News

UK and EU to block Trump’s Iran sanctions

UK and EU to block Trump’s Iran sanctions

The UK has signed a joint statement with the European Union in effort to block the impact of US President Donald Trump’s latest sanctions on Iran. UK Foreign Secretary Jeremy Hunt signed the statement along with other European ministers, including EU High Representative Federica Mogherini and foreign ministers Jean-Yves Le […]

Petrobras’ profits up thirty-fold

Petrobras’ profits up thirty-fold

Brazil’s state-run oil company has witnessed a thirty-fold yearly jump in net profits following increased oil prices, beating analyst’s expectations. During the first half of 2018, Petrobras saw profits jump to $4.54 billion – significantly higher than the $1.505 billion estimated by analysts. Petrobras said that net income for Q2 had […]

Germany unable to move away from coal, despite green pledges

Germany unable to move away from coal, despite green pledges

Germany’s power sector remains heavily dependent on coal, despite the country’s move to close down its mines. This has raised the question that if one of the world’s largest economies cannot transition away from the use of coal despite an abundance of political will, how are other economies around the […]

UK households overpay £4bn a year for energy

UK households overpay £4bn a year for energy

New analysis has found that UK energy consumers are overpaying their energy bills by £4 billion each year. The research found that 12 million families on standard variable tariffs (SVTs) with the Big Six energy suppliers are overpaying an average of £350 per year for their bills, with those in […]

Mexico’s new president to boost oil production

Mexico’s new president to boost oil production

Mexican president-elect Andres Manuel Lopez Obrador has said his administration will increase the country’s crude oil output from 1.9 million to 2.5 million barrels per day (bpd). Lopez Obrador won a landslide victory on 1st July and is set to take over office on 1st December and stated that he […]

Npower fined for failing to meet metering deadline

Npower fined for failing to meet metering deadline

Npower has been fined £2.4 million by UK energy watchdog Ofgem after failing to meet the deadline to introduce an advanced meter, despite the five years it knew about the roll out beforehand. Ofgem found the Big Six suppler, owned by Innogy, did not take “reasonable steps” to install the […]

The return of Scottish oil

The return of Scottish oil

Signs are emerging that the Scottish oil industry is recovering from the most recent downturn, according to a local port authority. A spokeswoman for the authority said: “We have more rigs in for repair, inspection and maintenance, and we see this as a positive sign.” Scottish rigs are going back […]

US coal exports at record high under Trump

US coal exports at record high under Trump

Power stations around the world are set to consume record high levels of US coal exports this year, following an increase in global demand for the commodity. Guillaume Perret, founder of Perret Associates Ltd., forecasts a 58% hike in steam-coal shipments to 58 million metric tons in 2018, which he […]