Energy

Only Russia Ensured Additional Gas Supplies to Germany in March – Wintershall
KASSEL (Germany) (Sputnik) - Moscow was Berlin's only foreign partner that provided Germany with additional natural gas during the cold period in early March, Mario Mehren, the CEO of the Wintershall energy company, said. [...]
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Schwarzenegger wants to sue Big Oil for ‘First Degree Murder’
Arnold Schwarzenegger has announced that he is taking oil companies to court “for knowingly killing people all over the world.” “This is no different from the smoking issue. The tobacco industry knew for years and years and years and decades, that smoking would kill people, would harm people and create cancer, and were hiding that fact from the people and denied it. [...]
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#BeastFromTheEast: Gazprom Comes to Aid of Freezing EU Members Again – Analyst
As the "Beast from the East" brings snow and severe cold to Europe, EU member states turn to their longstanding partner Gazprom to tackle the challenge, Andrzej Szczesniak, an energy security analyst, told Sputnik, explaining why Poland would rather freeze than embrace the Russia-led Nord Stream 2 project. [...]
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Nord Stream 2 to Squeeze Poland Out of European Gas Market
Germany has allowed Russia’s Gazprom to build and operate the Nord Stream 2 gas pipeline in the country’s territorial waters. The decision comes as bad news for Poland, which fears Nord Stream 2 would will increase Europe’s dependence on imported Russian gas. [...]
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Solar Import Tariff: Pain Without Benefit
The new 30% import tariff just imposed on imported solar panels and solar cells is a protective tariff without benefit. It will not revive the declining U.S. silicon solar cell industry. It will harm U.S. workers in factories manufacturing solar panels using imported solar cells. It will hurt the rapidly expanding U.S.solar industry, slowing down the rapidly growing adoption of solar across the U [...]
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PetroChina’s biggest refinery doubles Russian pipeline oil intake
Since the new Russia-China oil supply agreement took effect at the start of the year, PetroChina’s largest refinery has almost doubled the amount of Russian pipeline crude oil that it is processing. A senior industry source with direct knowledge of the volumes told Reuters, the 410,000-bpd PetroChina refinery in the northeast port city Dalian will process 260,000 bpd of Russian pipeline crude oi [...]
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New York sues oil giants to fund climate change defenses
Plans by the City of New York to sue and divest $5 billion worth of pension funds from oil companies accused of harming the environment have been heralded as a major step by environmentalists. New York City Mayor Bill de Blasio announced on Wednesday that trustees of the city’s $191 billion pension fund are devising ways to divest billions of dollars held in securities from more than 190 compani [...]
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US has to buy Russian natural gas as consumer prices soar
Russia will deliver liquefied natural gas (LNG) to the US, Kommersant daily reports. The reason for the deal is the sharp rise in gas prices on the east coast of the US. An LNG tanker belonging to French energy company Engie is now shipping from the British port of Isle of Grain to an American terminal, Everett, located near Boston. [...]
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Russia Claims To Have Invented Alternative To Fracking
Russian scientists and local oil field services companies claim to have created a technology for thermochemical gas fracturing that could be an alternative to hydraulic fracturing and could increase oil production by between 1.7 and 6 times, Russia’s news agency RIA Novosti reports, citing the University of Tyumen’s press service. [...]
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Turkish Stream Pipeline Will Be Built on Time Despite US Sanctions – Minister
The Turkish Stream gas pipeline project will be implemented on time, regardless of the new US law that expands sanctions against Moscow, Russian Energy Minister Alexander Novak said Friday. Novak explained that the contracts concerning the construction of the gas pipeline were concluded, and the construction was underway. [...]
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Iran Resumes Oil Swap Operations in Caspian Sea for 1st Time in 7 Years
Iran has resumed oil swap operations in the Caspian Sea in a bid strengthen the country’s strategic position in the region, local Mehr news agency reported Monday. An oil tanker arrived to Neka terminal earlier in the month to discharge oil for swapping purposes for the first time in seven years, the Iranian Petroleum Ministry was cited as saying by Mehr. [...]
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Crude prices continue to crash on growing US stockpiles
Oil prices continued to fall on Thursday after substantial losses the previous day, dragged down by a surge in US inventories. The major benchmarks were down over a dollar with Brent crude trading at $51.87 per barrel. [...]
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The Sun King: China Becomes World’s Largest Solar Energy Producer
China has become the world’s largest producer of solar energy, according to a new report from the country’s energy administration. The most populous nation on Earth nearly doubled their capacity for solar power in 2016, but they still have a very low per-capita rate for solar power use. [...]
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World’s Banks Driving Climate Chaos with Hundreds of Billions in Extreme Energy Financing
Turning their backs on climate science and the consensus of governments and civil society across the globe, the world's biggest banks are dangerously advancing the climate crisis by pumping hundreds of billions of dollars into the world's most polluting fossil fuel industries, according to a new report published Tuesday. [...]
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Overpowered: Too much solar electricity makes Chile give it away for free
Chile’s main solar power plants are supplying so much electricity that they have to give it away for free or face prices going down. The glut has been driven by the country’s booming copper industry. Chile’s growing energy demand has prompted the development of 29 solar farms to supply the central grid. [...]
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Renewable Windfall as Germany’s Green Energy Meets 90 Percent of Demand
Germany, the fourth-largest economy in the world and a leader in renewable energy, produced so much energy this weekend from its solar, wind, hydro, and biomass plants that power prices went into negative territory for several hours. Consumers were being paid to use energy. [...]
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Paris may ban imports of US shale gas – minister
French Energy Minister Segolene Royal said she is examining legal means to ban the import of shale gas from the United States. According to media reports, she told lawmakers in the National Assembly that France should prohibit fracked gas imports within its borders due to a ban on hydraulic fracking introduced for environmental reasons. [...]
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‘Biggest bribery scandal’: US, UK, Australia launch probe into mass oil industry corruption
An investigation into a massive global oil bribery scandal has been launched by authorities in the US, Britain, and Australia, after leaked confidential files indicated that some of the world’s most powerful corporations were part of the racket. [...]
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ROPEC in Focus: Will Russia End Up Controlling 73% of the World’s Oil?
Russia has all the chances to emerge “as the de facto leader of the major oil producing nations of the world, accounting for almost 73 percent of the global oil supply”; and in fact has already taken some of the required to do so, according to US-based oil expert Rakesh Upadhyay. “Russia has played a master stroke in the current oil crisis by taking the lead in forming a new cartel, but i [...]
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Russia grappling with new economic realities
As the world's media attention is currently fixed on the conflict in Syria, and to a lesser extent Ukraine, there has been an ongoing economic conflict occurring against Russia. Economic sanctions against Russia have turned out to be a double edged sword, hurting European exporters and manufacturers as much as Russian importers and consumers. [...]
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Obama to propose new oil tax to fund $300 billion in transportation spending
A new White House plan to combat climate change and update transportation systems would impose a fee of $10 per barrel of oil to fund $300 billion in spending over the next decade. President Barack Obama is expected to make his case to Congress next week. Promoting a “21st century clean transportation system,” the Obama administration unveiled its transportation budget Thursday, first to [...]
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Another Green Victory: Copenhagen Set to Divest from All Fossil Fuels
The Copenhagen City Council on Tuesday is expected to approve a vote to divest the city's investment fund, worth 6.9 billion kroner, or roughly $1 billion USD, from all its fossil fuels holdings. If the vote passes, the Danish capital will sell off its stocks and bonds in coal, oil, and gas in its continued effort to become "the world’s first CO2-neutral capital by 2025," Mayor Frank Jensen told [...]
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