Germany to introduce investor-friendly reforms in gas power stations
According to a draft document that will be presented to the German parliament on Thursday, the governing coalition in Germany has agreed to reforms to encourage?the construction of gas power stations? and attract investment. The conservatives of Chancellor Friedrich Merz and their Social Democratic partners plan to increase the maximum bid permissible for tenders from EUR173,000 (197
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BP withdraws from Bay du Nord oil projects, leaving Equinor the sole owner
BP and Equinor have agreed to sell their stakes in the Bay du Nord oil project off the coast of Canada. The British energy giant is now focusing on opportunities with higher returns. Equinor, a Norwegian company, will acquire BP's 37.2% share of Bay 'du Nord under the agreement. The companies did not disclose financial details.
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Azerbaijan summons Russian ambassador over attack on SOCAR Fuel Station in Ukraine
The 'Azerbaijani Foreign Ministry' said Monday that it had summoned the 'Russian' ambassador to protest against what they said was an attack by a Russian drone on a fueling station owned by state oil and gas firm SOCAR on Sunday in Ukraine's Mykolaiv Region. In retaliation to Kyiv's increasing?campaigns against Russia's energy infrastructure which have caused fuel shortages in many Russian
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Australian shares are down as consumer and bank stocks fall; commodity stocks hold back losses
Australian shares fell on Monday, as losses in consumer and financial stocks were offset by gains in commodities. Meanwhile, 'Vault Minerals' surged to its highest level in four months after Genesis Minerals made a $5.6 billion takeover offer. The S&P/ASX 200 Index?fell?0.2% at 08826, as of 0008 GMT, after posting its biggest daily gain in over three weeks on Friday. Despite the initial U.S.
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India's automotive industry defends ethanol mandate amid backlash
Indian government officials and the auto industry defended their decision to roll out petrol with 20% ethanol on Saturday, saying that years of testing and service data had shown no evidence of widespread vehicle damage. This was despite concerns about lower fuel efficiency. E20 fuel has been criticized on social media by motorists who are concerned that older vehicles
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Congo cobalt exporters fear losing quotas due to administrative glitch, sources say
According to a letter and industry officials, major cobalt producers are at risk of losing some of their first-half exports quotas because of an administrative error affecting a platform for customs. According to one industry source, due to the new directives that withdraw unused quotas the disruption could cause exports of battery metals from the leading global producers.
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Total losses from the US-Iran War still trail 1979 Oil Shock
By Alex Lawler LONDON, 3 July - According to calculations based upon data from the International Energy Agency, OPEC, and the U.S. Department of Energy, the 1979 Iranian Revolution is the greatest 'oil crisis in terms of cumulative supply losses. The U.S. and Israeli war against Iran has prompted comparisons to the 1973 Arab oil 'embargo', the Iranian Revolution, and the Gulf War of 1991
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