energy
Crude oil prices posed a two-week gaining streak and rose to the highest level in nearly two months last week due to optimism towards summer fuel consumption in the Northern Hemisphere, alongside a draw in the US stockpiles. The two-week gains in crude oil prices represent a 7% increase for both Brent and WTI futures. The Brent futures expiring on 25 September jumped to as high as $86.24 per barrel, the highest seen on 1 May on Friday before paring gains and opening at just above $84 per barrel on Monday. The WTI futures expiring on 4 August topped $82 per barrel for the first time since 30 Ap...
Euronews (English)
A power pylon in New Zealand collapsed and knocked out electricity to thousands after workers removed too many bolts, the country's transmission provider said on Monday. The pylon, north of Auckland, fell on June 20, cutting power to about 100,000 properties in the Northland region of northern New Zealand. Full power was only restored on Sunday. Transpower chief executive Alison Andrew said a crew from Omexom was undertaking routine maintenance on the base plates, which secure the tower to the ground, when the pylon fell. "All the nuts securing the tower to the base plate on three legs have be...
DPA Breaking News
A major hours long power outage hit much of the Balkans on Friday as the southern European region sweltered in an early heat wave that sent temperatures soaring to more than 40 degrees Celsius. Montenegrin authorities said that an outage that lasted for several hours in the country's power distribution system left almost the entire nation without electricity. Similar problems were reported in the coastal part of Croatia, and in Bosnia and Albania. Nada Pavicevic, a spokeswoman for Montenegro's state power distribution company, described the outage as a “disturbance of regional proportion,” and...
Euronews (English)
The highest court in the Netherlands has lifted a temporary ban on the construction of a controversial natural gas drilling platform in the North Sea. On Friday, judges in The Hague ruled that the Dutch energy company One-Dyas was allowed to construct a drilling platform. However, this does not yet mean that the legal challenge against the gas drilling has been finalized. It is not yet known when a final decision will be made. Earlier this month, a Dutch court ordered the suspension of work at the drilling platform, located off the Dutch Wadden Sea island of Schiermonnikoog and the German isla...
DPA Breaking News
The promotion of geothermal and nuclear energy and electricity grid development are some of the policies the upcoming Hungarian EU Council presidency has vowed to back in view of maintaining the energy transition in line with climate action, according to its recently unveiled work programme. Geothermal energy is a priority under the Hungarian Presidency which considers "making it more widespread" given its "key role in ensuring energy autonomy and security" and meeting climate goals. The country boasts the EU's largest geothermal city heating system, as described by the Belgian ambassador to H...
Euronews (English)
In 2023, total fossil fuel consumption reached a record high worldwide, the Energy Institute (EI) reported yesterday. Published in the 73rd annual Statistical Review of World Energy report by the EI (along with co-authors KPMG and Kearney), the release presented the first full global energy data for 2023. It stated that 2023 was a year of several historic energy consumption records – not all of them positive. Historic emissions and energy usagePerhaps most startlingly, the report revealed that global emissions from energy increased by 2% in 2023, exceeding 40 gigatonnes of CO for the first tim...
Invezz
Ukrainian President Volodymyr Zelensky is planning to expand the country's construction of solar systems to stabilize the energy grid, which has been significantly impacted by Russian attacks. "The government has been tasked with immediately presenting a program to encourage the installation of solar generation and energy storage systems in Ukraine," Zelensky said in his daily video address on Thursday. According to the plan, citizens who install solar panels will be able to receive an interest-free loan. Zelensky said that measures were taken to protect energy facilities from ongoing attacks ...
DPA Breaking News
EU countries today (June 19) approved changes to rules on the use and transit of nuclear materials with a view to increasing safety as reliance on nuclear energy is set to grow within the coming decades, three EU diplomats told Euronews. Discussions revolved mainly around the level of inspections of nuclear installations, the European Commission’s role as a watchdog and on ensuring nuclear materials will be used solely for power generation across the bloc, since nuclear became legally recognised in the EU as a low-carbon energy fit for the energy transition. The nuclear drive gained further im...
Euronews (English)
SunPower Corporation (NASDAQ: SPWR) has been nothing but disappointment for investors over the past twelve months. Still, there’s reason to believe that its future may be markedly different from the past year. How may Amazon and Microsoft help SunPower?Renewables do not currently make up a significant portion of power generation in the United States. Solar, for example, accounts for just 3.9% of the total electricity generation in the U.S. at the moment. Plus, there are concerns of reliability coupled with clean energy as well. That’s partly why solar stocks haven’t been able to do all that we...
Invezz
Ukrainians will face lengthy, daily interruptions in electricity until the end of July as scheduled repairs at nuclear power plants put further strain on the country's already heavily damaged energy system, the head of grid operator Ukrenergo Volodymyr Kudritsky said. "The next week and even the next few weeks the situation will be much more difficult than today," he told Suspilne TV, adding that the heaviest blackouts will occur between 11 a.m. and 11 p.m. Repairs on reactor units on Ukraine's nuclear power plants necessitate the power cuts as Russian attacks have destroyed or damaged non-nuc...
Kyiv Independent
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