Tag: Energy

European energy prices soared on Friday as concerns about France's nuclear fleet and disruptions caused by strikes make front-page headlines. In addition, a late winter cold front has also triggered supply concerns. Benchmark natural gas futures surged by 21%; the biggest rise since June last...

Norwegian battery start-up Freyr has announced its decision to accelerate its plans to invest in a U.S. plant in an effort to benefit from tax credits offered by the Inflation Reduction Act (IRA), CEO Tom Jensen confirmed. Currently, Freyr is building two large battery plants,...

BP reported on Tuesday that it hit a record profit of $28 billion for 2022, thereby exceeding the previous record profit of $26 billion in 2008. Shares in the company gained 5% on Tuesday morning following the announcement. In addition to increasing its annual profit,...

Shell shares gained 3% on Thursday morning after the company posted a record $40 billion profit for 2022. The oil and gas major's profits, which were almost double that from the previous year, came as Russia's invasion of Ukraine drove a surge in energy...

China's central bank stated on Sunday that it will be extending three lending tools in an effort to provide support to targeted sectors of the economy. Since being crippled by the coronavirus pandemic in 2020, the Chinese government has been scaling its lending policy...

Oman energy firm OQ SAOC intends to sell 49% of its oil drilling unit Abraj Energy Services SAOC in an initial public offering, the company confirmed in a statement. "We believe the company’s future is very bright, not least because it is already prequalified in...