Analysts reported that Novatek, a Russian natural gas producer, acquired Shell’s stake in the Sakhalin-2 energy project in a lucrative transaction. In June, a presidential decree made the operating company of Sakhalin-2 a Russian entity despite Western sanctions against Moscow for its actions in Ukraine. Following Moscow’s special military operation, Shell was one of many […]
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After raking in substantial profits all over the world last year, Shell announced that they would be paying tax in the UK for the first time since 2017. In the final three months of the year, the energy company said it expected to lose about 2 billion dollars on profits in the UK and the […]
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ExxonMobil, the largest energy company in the United States, is suing the European Union (EU) to get it to drop its new windfall tax on oil companies. The companies that benefited from something for which they were not responsible are subject to a windfall tax. As a result of Russia’s invasion of Ukraine, energy companies […]
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Britishvolt, a UK battery startup, said that it has secured a short-term investment to stay in business, and the staff will take temporary pay deductions while Britishvolt seeks long-term funding for its gigafactory project in northern England. Almost 300 employees of Britishvolt have agreed to an unspecified salary deduction for the month of November 2022 […]
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In a move to expand and accelerate the growth of its strategic bioenergy business, bp announced that it has agreed to purchase Archaea Energy Inc., a producer of renewable natural gas (RNG) in the United States. This acquisition, which is subject to regulatory approval, will be 3.3 billion dollars in cash, and also 800 dollars […]
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GE Renewable Energy, a division of General Electric, has secured a contract from Green Power Investment (GPI), an investment company from Japan to supply wind turbines for its Fukaura wind energy farm based in Aomori, Japan. Under the new contract, GE Renewable Energy will deliver 19 of its 117 onshore turbines for the 79.8 megawatt […]
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European gas prices have increased as much as 30 percent higher after Russia said one of the country’s main supply pipelines to Europe will shut indefinitely, raising convers about the shortage and gas rationing in the European Union. The gas price is increased as high as 272 euros per MWh when the market opened after […]
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On the second day of the inaugural trip of Olaf Scholz, chancellor of Germany, to Canada, the two countries have signed a partnership for the transport and production of hydrogen. Robert Habeck, economics minister of Germany, and Jonathan Wilkinson, energy minister of Canada, signed the agreement at a ceremony in the town of Stephenville that […]
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According to reports, Germany needs to decrease its gas consumption more than any other member state of the European Union in order to achieve an agreed savings target of 15 percent of the European Union. Germany will have to find a way to save 10 billion cubic meters of natural gas between the start of […]
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bp revealed its plans to invest around 60 million dollars in a new, state-of-the-art electric vehicle (EV) battery testing centre, and analytical laboratory in the United Kingdom. Previously bp announced its intention to invest around 18 billion pounds in the energy system of the United Kingdom by end of 2030, and this additional new investment […]
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