Energy

Why is the World Bank backing coal power in Europe’s youngest country?

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The World Bank is poised to support a new coal plant that would modernise Kosovo’s creaking energy infrastructure, but also lock the young nation into a future powered by a regressive fossil fuel.. In the early days of December 2015, as the Paris climate talks veered off course and off schedule, the US secretary of state John Kerry left his team of negotiators and flew to Kosovo to voice his support for a proposed US-built, World Bank-sponsored coal power station… ... Read More »

Brexit will force EU countries ‘to make deeper, costlier carbon cuts’

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Bloc will have to draw up new plan with higher cuts for remaining 27 states in order to meet its carbon reduction target, which could cost billions of euros.. Brexit will force the European Union’s remaining 27 countries to spend billions of euros on cutting carbon emissions more deeply to compensate for the UK leaving, according to experts… Source: Brexit will force EU countries ‘to make deeper, costlier carbon cuts’ | Environment | The Guardian Read More »

Estimated cost of Hinkley Point C nuclear plant rises to £37bn

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Critics point to volatility of scheme but energy department says price ‘will not affect bill payers’.. The total lifetime cost of the planned Hinkley Point C nuclear power plant could be as high as £37bn, according to an assessment published by the UK government. The figure was described as shocking by critics of the scheme, who said it showed just how volatile and uncertain the project had become, given that the same energy department’s estimate 12 months earlier had been ... Read More »

Somalia rides the ups and downs of a global oil crisis

Consumer benefits fuelled by low oil price, fail to reach poorest Somalis dependent on public transport.. Mogadishu, Somalia – Drivers in the morning rush hour in Mogadishu jostle for space to fill their tanks in one of the newly opened petrol stations in the city. An attendant shouts at the drivers, directing them: “Come forward a bit, a bit more. Stop.” These scenes are new to the city and its residents… Source: Somalia rides the ups and downs of a global ... Read More »

German government agrees to ban fracking after years of dispute

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Coalition government revived proposals after companies said last week they would push ahead with projects.. German politicians have approved a law that bans fracking, ending years of dispute over the controversial technology to release oil and gas locked deep underground… Source: German government agrees to ban fracking after years of dispute | Environment | The Guardian Read More »

World gas production increases – OPEC

Baku, Azerbaijan By Elena Kosolapova – Trend: The world marketable gas production has increased by 1.9 percent and neared 3.644 trillion cubic meters in 2015, as compared to 2014, according to OPEC Annual Statistical Bulletin 2015. The US became the largest marketable gas producer in 2015. The country’s marketable gas production increased by 5.3 percent in a year and stood at 768.83 billion cubic meters. Russia ranked second, as it produced 637.39 billion cubic meters of marketable gas in 2015, ... Read More »

Australia backs India to join nuclear supplier club, China hesitates

Australia will formally back India to join the club of nuclear suppliers at a summit in Seoul on Friday, a move that will finally lay to rest a bitter stoush over selling uranium to the nuclear armed giant. But China has signalled it could veto the bid because India has refused to sign the international treaty to stop the spread of atomic weapons… Source: Australia backs India to join nuclear supplier club, China hesitates Read More »

Turkish Stream: Will Russia’s energy interests overcome its political considerations?

Baku, Azerbaijan, By Aygun Badalova – Trend: The Turkish Stream gas pipeline project can be used as a tool for Turkey to normalize its relations with Russia, given the importance of Turkish gas market for Russia, says Agnia Grigas, energy and political risks expert, non-resident senior fellow at the Atlantic Council. Turkish Stream, meant to carry Russian natural gas to Turkey through the Black Sea, was suspended by Russia following the deterioration of the relations between Ankara and Moscow after ... Read More »

China to generate a quarter of electricity from wind power by 2030

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Report says figures could rise to nearly one-third with power sector reforms, making it the world wind energy leader by a large margin.. China is on track to generate more than a quarter of its electricity from wind power by 2030, and the figure could rise to nearly a third with power sector reforms, a new study has found… Source: China to generate a quarter of electricity from wind power by 2030 | Environment | The Guardian Read More »

Germany supports Russia’s initiative on Nord Stream-2 — Russian Energy Minister

Germany supports Russia’s initiative on the implementation of the Nord Stream-2 project, Russian Energy Minister Alexander Novak told reporters, TASS reported. “Germany supports the Russian initiative on Nord Stream (2),” the Minister said. He added that the project fully complies with the European legislation… Source: Germany supports Russia’s initiative on Nord Stream-2 — Russian Energy Minister Read More »

Palestinians say they are negotiating sea border with Egypt

Palestinians say they have started negotiations with Egypt to determine the boundaries of their undersea territory that could be exploited for resources as a first step to determining the sea borders of a Palestinian state. Source: Palestinians say they are negotiating sea border with Egypt | News , Middle East | THE DAILY STAR Read More »

Solar surge to leave large power companies in the shade

Smarter products and surging output from rooftop solar systems will keep a lid on the amount of power we buy from the grid… Source: Solar surge to leave large power companies in the shade Read More »

Timor-Leste pushes Australia to conciliation

Australia has yet to enter into compulsory conciliation talks with Timor-Leste over maritime boundaries, but it has already disputed the legality of the process.. Timor-Leste rolled out the red carpet last month to Vladimir Golitsyn, president of the International Tribunal for the Law of the Sea (ITLOS), the Hamburg-based judicial body established to deal with disputes under the United Nations Convention on the Law of the Sea (UNCLOS)… Source: Timor-Leste pushes Australia to conciliation | The Saturday Paper Read More »

Unaoil fixer paid bribes under nose of FBI

A middleman who received millions of dollars from Unaoil — a Monaco-based firm now at the center of an international bribery scandal — in return for improperly influencing officials in U.S.-occupied Iraq was also operating businesses in America. He did all this under the nose of the U.S. Department of Justice and the FBI — for years, without getting caught… Source: Unaoil fixer paid bribes under nose of FBI Read More »

Russia Remains Determined To Stop Israel-Turkey Pipeline Deal

It has been six years since the Israeli raid on the Mavi Marmara ship that was aiming to reach the Gaza coast in May 2010. In the wake of the Mavi Marmara crisis, Turkey and Israel relations rapidly worsened; both countries withdrew their ambassadors and cut diplomatic ties. Turkey’s downing of a Russian jet along the Syrian border on November 24, 2015 has forced Ankara to adjust its foreign policy… Source: Russia Remains Determined To Stop Israel-Turkey Pipeline Deal | ... Read More »

Is oil heading for a ‘hard fall’ in the next month?

Two years of supply excess have apparently ended with a spate of supply outages. Oil price surges amid supply ‘deficit’ claims – but will the rally last? The oil price is rising again following claims from one of the most bearish forecasters in the market that supply has “flipped” into deficit in recent weeks… Source: Is oil heading for a ‘hard fall’ in the next month? | The Week UK Read More »