Edison's green investment will increase the Italian utility’s borrowings, said its CEO. EDF, the parent company, plans to sell a majority stake in the unit, to avoid an increase in its debt. The Italian utility announced earlier on Thursday that it will begin working on renewable projects in Italy with a combined power of more than 500 megawatts. Edison CEO Nicola Monti said in an interview that "EDF had many investments to be made in France, particularly in the nuclear sector. The intention to open (our) capital – only for a minor stake – is to allow Edison implement its...

Turkey has finalised an extension of one year to its gas import contracts that expire with Russia, totalling 22 bcm. It is also considering investing in U.S. production, according to the energy minister. Both import contracts with Gazprom expire by the end of the year. Turkey's share of Russian gas has steadily decreased, and is now below 40%. Turkey, Russia's final major gas market in Europe has signed deals to buy long-duration LNG, a large part of which is from the U.S. This takes advantage of the expected global abundance of LNG over the next couple of years. Bayraktar, the...

Harbour Energy, an offshore producer with a focus on the North Sea, announced Monday that it would be cutting 100 jobs in its UK operations as part of a review of their UK organisation. Low commodity prices and a tax regime that is not competitive have put pressure on the UK oil-and-gas sector. This has led to Harbour's offshore restructuring, according to Scott Barr, Harbour's UK managing director. After a consultation phase, which is expected to end in the first quarter 2026, job cuts are planned. By 2023, 600 new jobs will be created. On top of this, the job...

The market for liquefied gas is preparing itself for an increase in supply, mostly from the top exporter, the United States. However, it is not clear how low the spot price will need to fall to clear these additional volumes. According to commodity analysts Kpler, the global supply of super-chilled gasoline is forecast to reach 475 million metric tonnes in 2026. This represents a 10.2% increase over the 431 millions tons predicted for 2025. This figure is comparable to South Korea's total annual demand, which is the third largest LNG importer in the world behind China and Japan. Go Katayama,...

The foreign assets of Russian oil giant Lukoil, which are located in Egypt and Kazakhstan, are attracting bidders. Time is running out for the deals to be completed before U.S. sanctions can be enforced. As part of their efforts to get the Kremlin into peace talks on Ukraine, the U.S. has imposed sanctions on Lukoil. They have already blocked Lukoil’s attempts to sell foreign assets before the deadline of November 21, sanctions. Lukoil has also been affected by the sanctions in Iraq, Finland at pump stations and Bulgaria in a refinery. Governments and partners want to buy its foreign assets...

Kimmeridge, an activist investor, called on Tuesday for a change in leadership and strategy within Coterra Energy. He said that the merger of Cabot Energy & Oil and Cimarex Energy into the new company by 2021 has failed to provide value and the stock is trading at a lower price than its peers. The private investment firm, in an open letter to the board, urged it to appoint a non-executive, independent chair, and to refocus its operations on the oil-rich Delaware Basin, claiming that the current mix of oil properties and gas properties had created inefficiency and reduced returns. In...

The Greek energy ministry announced on Friday that a consortium consisting of U.S. major oil company Chevron, and Helleniq Energy - the largest oil refiner in the country - was the preferred bidder to explore gas offshore in the southern blocks. The move follows a joint bid Chevron/Helleniq made in an Greek tender last year for the exploration of gas in four deep sea blocks near the Peloponnese Peninsula and Crete. Greece, which has very little oil production and relies heavily on gas imports to power its domestic consumption and generate electricity, is keen to explore and enhance its role...

According to a copy seen on Wednesday, Indonesian President Prabowo Subianto has issued a decree to resume international carbon trading after a hiatus of four years. In 2021, the Southeast Asian country published carbon market regulations that focused more on compliance than voluntary markets. The regulation effectively ended all trading of carbon credits across borders, even those generated by large projects such as the Katingan Mentaya Conservation Project. Indonesia claimed that the moratorium allows the country to prioritise meeting its own greenhouse-gas reduction targets instead of selling the reductions abroad. The suspension was also a result of concerns that carbon...

Venture Global's shares fell 17% on Friday in premarket trade after BP won an arbitration case against it over its failure in delivering liquefied gas as part of a long-term contract that was supposed to begin in late 2022. Venture Global reported on Thursday that the International Chamber of Commerce International Court of Arbitration had found it in breach of its obligations to declare that commercial operations at the Calcasieu Pass Plant had started promptly and to act as "a reasonable and prudent operator." BP, Shell Edison and Galp filed arbitration claims accusing U.S. firm of profiteering, by selling LNG...

The head of Serbia's state gas company, RTS, told the public broadcaster on Tuesday that Serbia will sign a deal for a three-year supply of gas with Russia. Dusan Bajatovic, Srbijagas, said that Serbia already has daily gas supplies of 2.5 millions cubic metres from Azerbaijan. It also receives 9.5 million cubic meters daily from Russia. Bajatovic said that Serbia has a single gas storage facility which holds 780 millions cubic metres of gas. If needed, an additional 200,000,000 cubic metres can be obtained from a storage in Hungary. Serbia is one of the few European countries that still buys...

The idea of closing oil and gas fields in Norway is unsettling. But the Green Party, a small party, is pushing for it as the global shift away from fossil fuels is looming. After the election on Monday, the Greens' seats more than doubled to seven. The ruling Labour Party needs their support to maintain a two seat majority. Arild Hermstad, leader of the Green Party, said: "We will prioritise the climate issue." "We need to make a transition away from fossil fuels and into the renewable energy sector." Norway lacks this today. The party wants to stop all exploration...

Guido Brusco, Eni's Chief operating officer, said on Wednesday that Azule Energy, a joint venture between Italian oil and natural gas explorer Eni, and BP, will invest an additional $5 billion in Angola within the next 4 to 5 years. This latest investment will equal the amount invested in oil and natural gas projects in Sub-Saharan Africa’s No. 2 oil producer since the joint venture was launched three years ago. Angola's regulatory system has been overhauled to attract new investment as it aims to maintain oil production at 1 million barrels per day. Brusco, speaking at an oil and natural...

China said on Friday that it would continue to regulate crude-steel output and prohibit the addition of illegally new capacity between?2026 and 2030. As part of its plan to reduce carbon emissions, the world’s largest steel producer and consumer will stop increasing crude steel production in 2021. A protracted downturn in the property market had also affected domestic steel consumption, leaving the industry with an overcapacity. China's crude output of steel fell by 4% in the first 11 month of?2025 compared to the same period a year ago, keeping the annual total on course to drop below 1?billion tonnes for...

Mercedes Benz reached a settlement of $149.6 Million with U.S. States to resolve a long-running probe into allegations?of cheating on diesel emissions?by the 'German automaker New Letitia James, York Attorney General, said on Monday. The settlement reached with Puerto Rico, the District of Columbia and 48 U.S. States includes the following: Mercedes will pay $149.6 millions and make $2,000 payments to owners and lessees of vehicles that require emissions repairs. Mercedes also 'agreed' to take a number of steps to prevent further misconduct and comply with the oversight requirements. The States?said Mercedes Benz has agreed to pay $2.2billion in 2020...

A Swiss court said Monday that it would accept a lawsuit against Holcim, a Swiss cement manufacturer. The complaint alleged the company was doing too little in order to reduce carbon emissions. Four residents from the low-lying Indonesian Island of Pari who have been repeatedly flooded by warmer temperatures?pushing up sea levels?, filed a legal complaint to the cantonal Court in?Zug in Switzerland in January 2023. The court admitted the case, but said that it could be reversed in a subsequent appeal if it found that the procedural requirements were not met. Holcim has announced that it will appeal the...

Parties to the case announced on Monday that a court in Switzerland had decided to accept a legal complaint against Swiss cement manufacturer Holcim, which alleged the company was doing too little to reduce carbon emissions. Four residents from the low-lying Indonesian Island of Pari, whose sea level has been rising due to warmer temperatures, filed a complaint with the cantonal court in Zug, Switzerland, on January 20, 2023. Swiss Church Aid, a non-profit organization that is supporting the Pari 'case, announced the court had accepted the complaint. Holcim acknowledged in a press release that the court had accepted the...

The Trump administration announced on Tuesday night that it would dissolve a federally funded?climate research center located in Colorado. This is the latest attempt to?defund this research. Ross Vought of the White House Office of Management and Budget said that the administration would break up the National Center for Atmospheric Research in Boulder (NCAR), which conducts scientific research on earth systems. The facility, he added, "is one of America's largest sources of climate alarmism." Vought posted on X Tuesday night that "a?comprehensive' review was underway & vital activities like weather research would be relocated to?another location or entity." This is...

Sales of EVs on the continent have been uneven. They are skewed towards the northern?and _western countries while the nations to the south and east tend to lag. The EU has now eased its emissions targets for the year 2035, despite strong opposition from the industry. It claims that EV demand is?slower than expected? and the transition to EVs will take more time. In Norway, where government subsidies and investments in charging infrastructure have been made to encourage the use of electric vehicles, the data shows that EV sales reached 94% of the 'total car sales' in the first 7...

U.S. Environmental Protection Agency released a statement Monday announcing that the United States and Mexico have signed a new agreement to address 'the ongoing Tijuana river sewage crisis. Mexico and the U.S. have been at odds for decades over the issue of Mexican sewage flowing across the border into the Tijuana River and then into the Pacific Ocean. The EPA stated that the 'new agreement' saw the U.S. - and Mexican Sections - of the International Boundary and Water Commission, agree on infrastructure projects, research and enhanced monitoring. "And planning for the operation and maintenance" of critical systems and sites,...

After a year of flooding and a long dry spell, Simon Ellis expected "catastrophic" failure when he first drove his combine through this crop. Instead of shriveled seeds, plump grains of wheat, oats, and soybeans were poured into the combine. Ellis, 38, who is a fourth generation farmer in Wawanesa (Manitoba), credits the investment made into expensive systems, such as minimum- and zero-till agriculture, for helping to protect soil. Tile drainage is an underground system that prevents flooding. It also contains pellets of fertilizer with a slower release rate, which are more efficient. A professional agronomist can provide advice on...

The European Union reached a legally-binding climate agreement to "reduce greenhouse gas emission by 90% by 2040 compared to 1990 levels", involving the purchase foreign carbon credits?to cover?5% of these cuts, said the European Parliament on Wednesday. The agreement requires EU industries to reduce emissions by 85%. From 2036, EU countries will pay non-member nations to cut their emissions in their place to make up for the "remainder". It is a matter of formality to have the European Parliament and EU member states approve a target before it becomes law. The agreement is more ambitious than most other major economies'...

A draft EU document that was seen by revealed that the European Commission had drafted proposals for further cuts to EU environmental laws. The proposal targeted requirements on industries to report their pollution and waste. The draft proposal is due to be released on Wednesday and is part of "omnibus" efforts by the European Union to reduce bureaucracy in business and to cut down regulations that are said to hurt the profitability of industries. ENVIRONMENTAL MANAGEMENT SYSTEM The environmental regulations in Europe are among the strictest in the world. They cover things like CO2 emissions and water quality, as well...

Constellium's CEO said that the European Union should abandon a carbon border tax, which could push its aluminium industry into a long-term decline. The tax would increase costs and favor more polluting foreign suppliers. Carbon Border Adjustment, a mechanism that will begin imposing a tax on imports for a few commodities in January, was designed to protect European producers from cheaper competitors in countries with laxer climate laws. Industry representatives, however, see the system as flawed and are hopeful that the final EU adjustments to the Mechanism, which will be announced this month, address their concerns. Jean-Marc Germain is the...

Niger accused French nuclear fuel company Orano, of "predatory behaviour" and environmental crimes. This escalated a bitter dispute about control of the West African country's uranium mining. Orano, the military-led government, could be prosecuted for "mass crime" after 400 barrels radioactive core were found in Madaouela near Arlit where Orano operated its uranium mining operations. Orano, 90% owned in France by the state, denied that it was operating in Madaouela and said it did not receive any official notification of legal action. In a written answer to questions, the company stated that it did not have an operating license at...