Energy
Gasoline futures are dropping, which could mean more relief at the pump
Brie Olootu pumps gas at an Exxon Mobil gas station on June 09, 2022 in Houston, Texas. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Images Prices at the pump have retreated from June’s never-before-seen levels but remain stubbornly high. Some relief could be […]
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Volkswagen CEO says EV outlook is ‘very good,’ expects to reduce delivery times this year
An ID. Buzz stands during a plant tour of the production of the ID. Buzz in quality control at the Volkswagen Commercial Vehicles plant in Hanover, Germany, June 16, 2022. Ole Spata | Picture Alliance | Getty Images The CEO of German automotive giant Volkswagen sought to assuage concerns about electric vehicle sales and semiconductor […]
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Shell to build Europe’s ‘largest’ renewable hydrogen plant to help power Dutch refinery
On Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. Shell is one of several big firms looking to lay down a marker in the sector. Ina Fassbender | AFP | Getty Images Plans to build a major hydrogen plant in the Netherlands will […]
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Soaring rents and electricity prices are squeezing Singapore retailers’ margins
Retail businesses in Singapore are grappling with higher costs as rents rise and energy prices soar, the Singapore Retailers Association said. Cost pressure is a big concern for many Singapore retailers which have not completely passed on price increases to consumers, and are currently feeling the “margin squeeze,” Ernie Koh, the association’s president told CNBC’s […]
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Op-Ed: Energy supply fears have Europe in a panic as it tries to avert a full-blown crisis
Workers are seen at the construction site of the Nord Stream 2 gas pipeline, near the town of Kingisepp, Leningrad region, Russia, June 5, 2019. Anton Vaganov | Reuters As a business executive friend of mine texted me Wednesday, “Europe feels like it’s starting to panic.” He’s right. The concerns about energy supplies are accelerating […]
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Europe will count natural gas and nuclear as green energy in some circumstances
01 July 2022, Saxony, Lippendorf: A solar park borders directly on the site of the Lippendorf lignite-fired power plant. After more than 20 years, the so-called EEG surcharge, which customers pay via their electricity bill, will no longer apply. It currently still amounts to 3.72 cents per kilowatt hour. Experts do not expect electricity prices […]
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Billions in bitcoin trapped on lending platforms like Celsius may turn into a tax writeoff for investors
Crypto lending platforms like Celsius, Anchor, and Voyager Digital rose to prominence for offering almost unbelievable returns of up to 20% annually on customer deposits. Now, much of that crypto cash is trapped, as plunging token prices force platforms to temporarily suspend or limit withdrawals. In the wake of its own solvency crisis, Celsius — […]
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France’s EDF to be fully nationalised — Borne
Cooling towers at the Dampierre-en-Burly nuclear power plant, operated by Electricite de France SA (EDF), in Dampierre-en-Burly, France, on Tuesday, May 3, 2022. EDF’s falling nuclear production, combined with Russia’s invasion of Ukraine, is exacerbating Europe’s energy crisis as France is traditionally a net exporter of electricity. Bloomberg | Bloomberg | Getty Images The French […]
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European gas prices fall after Norway’s government steps in to end oil and gas strike
Norway’s government said that based on the announced strike numbers, it had been feared that more than half of the country’s daily gas exports would have been lost by the weekend. Joe Klamar | Afp | Getty Images European gas prices on Wednesday fell away from four-month highs after Norway’s government intervened to bring an […]
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OPEC Secretary General Mohammad Barkindo dies at age 63
Mohammad Sanusi Barkindo, secretary general of the Organization of Petroleum Exporting Countries. Aaron M. Sprecher | Bloomberg | Getty Images Mohammad Barkindo, a Nigerian politician and the secretary general of oil group OPEC, has died at the age of 63. The head of Nigeria’s National Petroleum Corporation, Mele Kyari, announced the news in a tweet Wednesday, which was confirmed by two sources at OPEC. “We lost our esteemed Dr Muhammad Sanusi Barkindo,” a tweet early Wednesday morning from his verified Twitter handle read. “He died at about […]
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