California achieves a historic feat, powering the grid with 100% renewable energy for 30 consecutive days, signaling progress towards ambitious clean energy goals.
Energy
Shell to Sell Oil Refineries and Chemical Assets in Singapore for Less Than $1 Billion
Shell's Singapore oil refinery and chemical assets will be sold to a Glencore-led joint venture with a purchase sale of below $1 billion, following agreements in place for continued collaboration and strategic alignment with CAPGC.
Global Fuel Consumption Might Drop in 2024, Experts Say
Global gasoline demand growth may half in 2024 due to a return to normal consumption after COVID-19 and a shift to electric cars in China and the US.
Former SpaceX Engineer to Build Space-Based Solar Power to Provide 'Infinite Energy' for Earth
Virtus Solis, led by former SpaceX engineer John Bucknell, aims to use SpaceX's Starship for affordable space-based solar power, envisioning large solar arrays in orbit to provide constant energy to Earth by 2030.
Potential Gas Price Change Anticipated Following Chevron and Exxon Mobil Q1 Profits Dip
Chevron (CVX) and Exxon Mobil (XOM) reported a decline in first-quarter revenue compared to the previous year, citing lower margins on refined product sales, sparking concerns among investors about the potential impact on gas prices and the energy market.
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This milestone aligns with President Biden's goal to make the US power grid carbon pollution-free by 2035, a key initiative in combating climate change and securing energy resources.
A devastating series of Russia's overnight strikes has left the Trypilska thermal power plant in ruins, dealing a severe blow to Ukraine.
Oklahoma sued two Texas natural gas companies for purposefully reducing gas supply during Winter Storm Uri in 2021, raising prices and making huge profits.
Biden admin adjusts EV targets to 35%, balancing industry concerns. EPA's new rules ease the transition, aiming for 50% emissions cut by 2032 amidst environmental and economic considerations
Sergio Massa, Argentina's Economy Minister and presidential candidate, has warned oil producers of impending export restrictions unless they address fuel shortages.
Despite a 24.7% profit drop, Saudi Aramco reported increased dividends in 2023 and billions of investments to keep Saudi Arabia's economy afloat.
Oil prices surged 2% post-Fed Chair Powell's hints at rate cuts. WTI crude reached $79.73/barrel, reflecting monetary policy's impact on commodity markets.
Russia and China are planning to build a nuclear power plant on the moon by 2035. Russia's Roscosmos space agency chief, Yuri Borisov, said on Tuesday that Russia and China are planning to build a nuclear power plant on the moon by 2035.
Oil prices fell further as the dollar rose on market predictions that inflation will delay US interest rate reductions that have limited global fuel demand growth.
