Italy accelerates oil and gas projects to ensure energy security
Italy took measures on Thursday to boost 'domestic oil production and reduce dependency on fossil fuel imports, said Prime Minister Giorgia Meloni. According to official statistics, Italy produces around 29 million barrels per year of crude oil, mostly in the southern region Basilicata. It also produces approximately 3 billion cubic meters of natural gas. This is only a fraction of what it needs for fossil fuels.
Auditors say EU's Russian Energy Exit is failing
Auditors said that the EU's efforts to be independent of Russian oil and gas are faltering as it heads into winter with unusually low stocks. The European?Court of Auditors stated?in a recent report that?the?EU?is not investing enough in order to achieve its aims of replacing Russian energy by diversified fossil fuels and expanding renewable energy, grid…
Edison cuts 2026 guidance yet again due to weak hydro and Qatari gas
The Italian utility Edison cut its earnings guidance for full-year by a second time in a row on Thursday, as the first-half results had been affected by disruptions of Qatari gas supply and weak hydroelectric production. Edison, one QatarEnergy’s major gas customers in Europe now expects to earn before interest, taxes, depreciation, and amortization (EBITDA), of EUR1.1-1.2billion this year.
Italian court lifts Sardinia's ban on renewable energy permits
The Italian Constitutional Court has ruled that the 'Sardinian Law' which prohibited renewable energy projects from being built in "non-suitable areas" was unconstitutional. This removes a major obstacle to the development of solar and wind power on Sardinia. Sardinia has suffered another setback in its attempts to curtail renewable energy projects by regional laws…
EDP chief: EU governments not Brussels slowing down renewable energy investments
The?CEO? of Portuguese energy group EDP stated on Thursday that European Union member countries are not implementing the necessary?permitting?reforms to get renewable power projects built, despite European Commission efforts. Many countries have not yet fully implemented the measures?the EU adopted following Russia's invasion of Ukraine in 2022 to simplify permits for renewable projects, said CEO Miguel Stilwell d'Andrade.
Report: US wind and solar investments could be threatened by $121 billion of stalled permits.
A report released on Monday found that Trump administration policies 'that have stalled permits of renewable energy projects' are putting $121 billion in investment at risk, and slowing the development of 'wind, solar, and storage.capacity required to meet increasing?power demand. Wood Mackenzie's findings highlighted the tension between President Donald…
Report: US wind and solar investments could be threatened by $121 billion in stalled permits
A report released on Monday found that Trump administration policies have slowed permits for renewable energy project, putting $121 billion in investment at risk. Wood Mackenzie, a research firm in energy, found that President Donald Trump was torn between his desire to accelerate energy infrastructure for artificial intelligence and his opposition to the renewable energy.
China Resources New Energy Plans $3.6 Billion Shenzhen IPO
China Resources New Energy (the'renewable energy division' of?China Resources Power) plans to raise approximately 24.5 billion Yuan ($3.62billion) through a Shenzhen Initial Public Offering, according to the prospectus it filed on Thursday. The company operates photovoltaic and wind farms in China, and is the group's primary renewable energy platform. According to the filing…
Exports of ethanol in the US and Brazil are on the rise as consumers look to increase fuel supplies
As the Strait of Hormuz Crisis continues, several countries are looking to increase their fuel sources. This will lead to a surge in the exports of the biofuel. Representatives from the biofuels industry said this week that the U.S. has seen a 20% increase in ethanol exports this year compared to last year's record-breaking shipments. Brazil, meanwhile, could see its sales abroad more than double in the upcoming trading season of 2026/27…
Carol Howle named as BP's deputy CEO to oversee portfolio reviews and strategy
Carol Howle was named BP's 'deputy CEO' on Thursday. She will oversee the company’s ongoing portfolio re-evaluation and strategy developments. Howle will return to her previous role as head for supply, trading, and shipping. She was interim chief executive until Meg O'Neill took over the top position on Wednesday. BP is undergoing a major strategic shift…
Staff note: New BP CEO pledges consistency
BP's 'CEO' Meg O'Neill said on Wednesday that she would provide consistency and accelerate the performance of the group, a full year after BP refocused its strategy firmly to oil and natural gas. This was according to a note to staff seen by. O'Neill began her new job as BP's 4th CEO?since 2020, and the first external hire in the role for more than a hundred years. She is the first female to head a major oil company.
Former Shell CFO to leave, BP Chairman Manifold trims the board
BP Chairman 'Albert Manifold' announced on Friday plans for a slimmer board, as a s part of the resetting strategy by the british oil major. Former Shell Chief Financial Officer Simon Henry was among those leaving. Manifold has made other changes since he became chairman in October. Murray Auchincloss, who was appointed CEO in October, abruptly left the position in December. Woodside Energy's Meg O'Neill will take on that role from April.
Sources: EDF continues to sell Edison shares despite Italian energy decree
Three sources familiar with the matter said that France's EDF was moving forward with a possible listing or a sale of a?stake?in Italian company Edison despite the regulatory uncertainty brought on by Italy's new?energy sector decree. Sources, who asked not to be identified because the discussions are private, said that the French nuclear group had dispelled…
Cubans use solar power to fight blackouts as US tightens its grip on oil
Cubans scramble to install solar panels in their homes, businesses and vehicles as Washington prevents oil from reaching the Caribbean’s largest island. This contributes to electricity generation shortfalls. U.S. sanctions, a deep recession and the economic crisis in Venezuela have made it difficult for the government to buy enough fuel. A recent 'drought' of shipments due to U.S. sanctions has also caused a?drought? in Mexico and Venezuela.
Canada boosts investments in Ukraine's Energy Sector
The two governments announced on Wednesday that Canada would increase its support for Ukraine's energy industry, working with the industry to provide?oil and gas equipment at favorable terms, as well as boost investments in renewable energy. As part of the full-scale invasion that began in February 2020, Russia has attacked power stations, gas installations, and electricity transmission lines.
Contact Energy, NZ to raise $317 Million to fund renewable energy projects
New Zealand's Contact Energy announced on Monday that it will raise NZ$525m ($317m) in new equity to fund an array of renewable energy projects. The company is accelerating its growth as part of its long-term, "Contact31+" strategic plan. Contact stated in a press release that the fundraise included a fully-underwritten NZ$450,000,000 institutional placement as well as a non underwritten retail offer?of up NZ$75,000,000.
Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they have colluded over decades to prevent competition from renewable energy sources, including?electric cars. The lawsuit filed in U.S. District Court, western Michigan, names BP and Chevron. It also names ExxonMobil, Shell, and the American Petroleum Institute.
UAE utility withdraws Yemen and transfers solar energy plants to the government
Global South Utilities, based in Abu Dhabi, has handed over two solar power plants to Yemen's Public Electricity Corporation. This was after the?Yemeni government requested that all?Emirati firms leave the country. GSU informed Public Electricity Corporation in a letter of January 22 that all maintenance and operations teams had been evacuated from the Aden Solar Power Plant…
EDP CEO warns EU about lost urgency in energy security and renewables push
The European Union has lost its sense of urgency in addressing energy security. Bureaucracy is still preventing the bloc to reduce costly energy imports and slowing down renewable energy projects. Miguel Stilwell d'Andrade (CEO of one of Europe's biggest renewable power producers) told reporters that companies are struggling to build enough wind and solar assets to replace imported fossil energy sources.
Masdar and EPCG in Montenegro to explore a joint venture for renewables
Montenegro’s state utility EPCG, and United Arab Emirates’ state-owned Masdar will explore establishing a joint venture to develop large-scale renewable energy projects in the Balkans. The ministry stated that the potential partnership would focus on projects in solar power, wind, hydropower and battery storage, as well as hybrid systems. Its goal is to meet the domestic demand for green energy and export it to the Balkans…