Energy
Europe is established to ramp up its oil war towards Russia — and markets are bracing for extra disruption
The European Union’s ban on Russian oil products exports is slated to kick in on Feb. 5. Image Alliance | Photograph Alliance | Getty Illustrations or photos Europe is when again poised to ratchet up the strain on Russia’s oil revenues, in search of to deplete President Vladimir Putin’s war chest as the Kremlin’s practically […]
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Oil large Shell posts highest-at any time once-a-year earnings of $40 billion
Shell explained previous thirty day period that windfall taxes imposed by the European Union and U.K. adhering to the surge in profits would expense the group about $2 billion. Paul Ellis | Afp | Getty Pictures British oil huge Shell on Thursday posted its optimum-at any time annual gain, bolstered by soaring fossil fuel rates […]
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‘Greenwashing’ is a good thing, according to one renewable energy tycoon
Greenwashing should be seen as a positive sign that companies are moving in the right direction, according to the founder of British energy firm Ecotricity. “It’s everywhere,” Dale Vince told CNBC’s Tania Bryer. “But you know, I take it as a good thing. People say to me, ‘oh, there’s greenwashing, it’s a bad thing’.” “And […]
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Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel
In the race to find cleaner fuels, the heavy duty transportation sector is woefully behind because batteries don’t have enough juice to power trucks and ships. Enter ammonia. New technology and new companies are working on turning ammonia into hydrogen to power tractors, trucks and even ships. The heavy duty trucking industry alone accounts for […]
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Biden administration moves toward approval for major Alaska oil drilling project
Alaskan oil extraction site. Lowell Georgia | Getty Images The Biden administration on Wednesday recommended a scaled-down version of a major oil drilling project in the North Slope of Alaska, taking a step toward approving the $8 billion Willow plan that climate groups have long condemned. The Interior Department’s Bureau of Land Management released an […]
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Ex-Genesis execs raised tens of millions for crypto hedge fund just as former enterprise neared bankruptcy
Just months before crypto loan provider Genesis submitted for individual bankruptcy, a few previous staff of the company had secured millions of dollars for a new crypto hedge fund, according to correspondence viewed by CNBC. Matt Ballensweig, who left Genesis in September soon after extra than 5 many years at the firm, sent a concept […]
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G-7 agrees to evaluate amount of selling price cap on Russian oil in March: U.S. Treasury
The G-7, the EU and Australia executed on Dec. 5 a cap on Russian oil selling prices. Bloomberg | Bloomberg | Getty Photographs Team of Seven officers have agreed to review the amount of the cost cap on exports of Russian oil in March, later on than initially prepared in order to give time to […]
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Uk Labour leader Starmer slams PM’s Davos no-present, touts new ‘inverse OPEC’ alliance
DAVOS, Switzerland – Jan. 19, 2023: Keir Starmer, chief of the Labour Bash, during a CNBC panel session on working day a few of the Earth Economic Forum (WEF). Stefan Wermuth/Bloomberg through Getty Photographs U.K. opposition Labour Get together chief Keir Starmer on Thursday hit out at Key Minister Rishi Sunak for opting not to […]
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Greta Thunberg on Abu Dhabi’s oil main foremost COP28 local climate summit: ‘Completely ridiculous’
Local weather activist Greta Thunberg talking on the main stage in George Square as aspect of the Fridays for Future Scotland march during the Cop26 summit in Glasgow. Photograph day: Friday November 5, 2021. Jane Barlow | PA Visuals | Getty Illustrations or photos Swedish climate activist Greta Thunberg on Thursday turned the newest vocal […]
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Oil big Aramco suggests windfall taxes ‘not helpful’ and could stifle decarbonization
Pressuring oil companies through better taxes is counterproductive at a time when world crude desire is established to outstrip provide, the CEO of Saudi Aramco, the world’s greatest and most lucrative strength enterprise, explained during the Planet Economic Forum in Davos, Switzerland. Asked by CNBC’s Hadley Gamble if a windfall tax on oil income is […]
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