No Proposal to Raise Diesel, Petrol Prices: Govt
The Ministry of Petroleum & Natural Gas confirmed there is no proposal to raise retail petrol or diesel prices, which have been unchanged since April 6, 2022. State‑run oil marketers are absorbing under‑recoveries of roughly ₹20 ($0.24) per litre for petrol and ₹100 ($1.20) per litre for diesel, amounting to about $289 million a day. Crude‑basket costs have surged from $70 to over $113 per barrel, yet the government maintains price stability despite heightened volatility. Refineries operate at high capacity with ample fuel inventories, even as panic buying flares at some outlets.
Iran Conflict Forces Government to Reopen CO2 Plant to Support Nuclear Power Security
The UK government has temporarily restarted the Ensus bio‑ethanol plant in Wilton to produce carbon dioxide after the Iran conflict disrupted European fertilizer‑derived CO₂ imports. CO₂ is a critical coolant for the country’s advanced gas‑cooled reactors at Hartlepool, Heysham 1, Heysham 2...
6K Energy and CRG Defense Announce Collaboration Toward Building a U.S. Based Battery Supply Chain for Mission Critical Defense Systems
6K Energy and CRG Defense have signed a seven‑year agreement to source high‑performance NMC811 cathode active material for U.S.‑made battery cells and packs. The deal starts with supply from 6K’s North Andover plant and expands to the PlusCAM facility in Jackson,...
Emerson and Aramco Deploy AI Solution Aimed at Higher Refinery Yield Volume and Efficiencies
Emerson has deployed its AI‑driven Aspen Hybrid Models™ across Aramco’s global refinery network, creating one of the world’s largest multi‑site, multi‑period optimization frameworks. The solution delivers up to 98.5% accuracy in yield and quality predictions for key units such as...
BP's Profit More Than Doubles in Q1 as US Gas Prices Rise
BP reported first‑quarter profit of $3.84 billion, more than five times the $687 million earned a year earlier, as U.S. gasoline prices surged to a yearly high of $4.18 per gallon amid the ongoing Iran‑Saudi conflict. Adjusted earnings reached $1.24 per share,...
China Tightens Carbon Accountability Framework, Strengthening Structural Push for Renewables
Beijing has rolled out a national carbon evaluation system that holds provincial governments directly accountable for meeting China’s 2030 carbon‑peaking and 2060 carbon‑neutrality targets. The new "5+9" indicator framework, approved by the Politburo Standing Committee, grades provinces on five binding...
RWE on Track to Construct Thor Wind Farm with CO2-Reduced Steel, RecyclableBlades
RWE announced that its Thor offshore wind farm will use Siemens Gamesa’s GreenTower steel towers, which emit 63% less CO₂, and recyclable composite rotor blades. The 1.1‑GW project off Denmark’s west coast will install 72 turbines—up to 15 MW each—by the...
U.S. Oil Hits $100 As Iran Stalemate Keeps Hormuz Shut; S&P 500 Falls
U.S. crude oil futures surged past $100 a barrel, the first breach in three weeks, as a stalemate with Iran raised the risk of a prolonged closure of the Strait of Hormuz. The supply‑shock fears lifted Brent to $111 and...
Sweden Warns Jet Fuel Shortage Threatens Summer Holiday Travel Plans
Sweden’s energy minister warned that a jet‑fuel shortage could emerge as the Middle East war shuts the Strait of Hormuz, cutting global oil supply by roughly 20 percent and pushing crude above $100 a barrel. While domestic jet‑fuel stocks are currently...
1.6 GW Nordlicht Offshore Cluster on Track: Vattenfall Simulates Complex Offshore Installation on Land
Vattenfall is conducting on‑shore simulations in Aalborg, Denmark, to rehearse the installation of massive transition pieces for the 1.61 GW Nordlicht offshore wind cluster. The mock‑up replicates the 23.7‑metre, 362‑ton components, testing bolting, cable routing and safety procedures before sea deployment....
South32 and Eskom in Talks over Hillside Smelter Power Supply Following Closure of Mozal
South32 and Eskom have launched a joint working group to negotiate a long‑term electricity supply for the Hillside aluminium smelter after the Mozal plant in Mozambique was placed on care and maintenance on March 15. The Mozal shutdown eliminated roughly...
SLB Rolls Out AlphaSight Reservoir Mapping Solution
SLB has launched AlphaSight, a high‑resolution reservoir mapping and geosteering platform that delivers real‑time subsurface insight at unprecedented depths. The solution, part of SLB’s Sight family, combines advanced measurement technologies to improve well placement and reservoir contact. Field trials across...
Iran Standoff Keeps Crude Near US$100 and Puts Strait Risk in Focus
Oil prices surged over 2.5% as the Strait of Hormuz remained effectively closed, keeping crude near the $100 per barrel threshold. Iran offered to reopen the waterway if the U.S. lifts its naval blockade, but President Trump rejected the proposal...
Solar and Storage to Lead 86 GW Capacity Surge in 2026
Developers are on track to add a record 86 GW of utility‑scale capacity in 2026, driven almost entirely by solar and battery storage. Utility‑scale solar alone is slated for 43.4 GW, a 60% jump from 2025, while battery storage will grow to...
Taihan to Make and Install Submarine Cables for South Korean Solar Power Plants
South Korean cable maker Taihan Cable & Solution has won a contract to produce, transport and install extra‑high‑voltage submarine cables for a solar power project in Sinan County. The 154 kV cables will connect the Bigeum on‑shore solar plant and the...
BP Reports ‘Horrifying’ Jump in Profits as Iran War Boosts Oil Trading; Brent Crude Hits Three-Week High – Business Live
BP reported first‑quarter 2026 profit of nearly $3.2 billion, roughly double the $1.54 billion earned in Q4 2025, as the Iran‑Israel war lifted oil and gas prices and pushed Brent crude to a three‑week high. The surge was driven primarily by stronger trading...
Russia’s Urals No Longer Cheap: India’s Refiners Face a Margin Squeeze
Indian public‑sector refineries now source 47‑50% of their crude from Russian Urals after Middle‑East deliveries fell 61% in March 2026. The disappearance of deep Urals discounts – now a $4‑5 per barrel premium to Brent – combined with higher freight...
Qatar Pushes Ahead with North Field Expansion Despite LNG Disruptions
QatarEnergy awarded a major contract to Baker Hughes for critical equipment on two new LNG mega‑trains as part of the North Field West expansion. The project will add roughly 16 million tonnes per annum (mtpa) of LNG capacity, pushing total output...
Op-Ed: Why Wave Energy Must Be the UK’s Next Great Green Frontier
The op‑ed argues that wave energy is ready to become the UK’s next major renewable, citing recent technological breakthroughs and commercial pilots. It highlights a £27 billion (≈$34 billion) Energy Price Guarantee and volatile fossil‑fuel markets as catalysts for domestic, predictable power....
China-Kenya Partnership Unlocks Geothermal Potential of Great Rift Valley
Kenya’s Great Rift Valley now supplies over 40% of the nation’s electricity through geothermal power, the world’s highest share. The Olkaria field, one of the richest reservoirs, drives this growth, yet only about half of the estimated 10,000 MW potential is...
Mooreast to Divest Property, Boost Offshore Wind Expansion
Mooreast Holdings has secured an option to sell its leasehold at 51 Shipyard Road in Singapore for $23.3 million, expecting about $15 million in net proceeds after loans and costs. The proceeds will be redeployed to its newly acquired waterfront facility at...
Oil Price Climbs Above $110 for First Time in Three Weeks as US-Iran Peace Efforts Falter
Oil prices rose above $110 per barrel for the first time in three weeks as US‑Iran peace talks stalled, leaving the Strait of Hormuz largely shut. The lack of diplomatic progress revived fears that higher energy costs will force central...
EnergyPathways Launches Offshore Wind-Linked Compressed Air Energy Storage Project
EnergyPathways has begun front‑end engineering and design for a 300 MW, 55.2 GWh compressed air energy storage (CAES) facility in the East Irish Sea. The plant will capture surplus power from offshore wind farms and the UK grid, storing it in offshore...
What Is the Windfall Tax on Oil and Gas Companies?
The UK introduced the Energy Profits Levy in May 2022, a windfall tax on oil and gas profits, initially set at 25% and now 38% through March 2030. The levy has raised £2.6 bn ($3.3 bn) in 2022‑23, £3.6 bn ($4.5 bn) in 2023‑24, and £2.9 bn...
The Battery Cost Disconnect
The article notes that despite lithium carbonate prices more than doubling, utility‑scale battery energy storage system (BESS) capital expenditures rose less than 15% in the United States, Germany and China. Cells now represent only 25‑45% of total project cost as...
Braemar Adjusts Tanker Models to War Footing in a World Starved of Gulf Oil
Braemar, a UK tanker broker, has introduced an “urgency fudge” to its charter rate models, reflecting charterers' willingness to pay premiums for rapid cargo delivery amid Middle East conflict. The adjustment acknowledges heightened demand for Gulf oil as supply constraints...
Medium Duration Endures Woes, While Form’s Long Duration Grows, and Lithium Overflows (Part 2)
Medium‑duration storage firms EOS and ESS are feeling pressure from plunging lithium‑ion prices, even as EOS reports a record $58 million Q4 revenue and aims to drop below $100/kWh. Form Energy, however, is outpacing expectations, having landed Google’s 30 GWh iron‑air project...
Transocean Rig Hard at Work on Beach Energy’s Second Stage of Australian Drilling Campaign
Beach Energy has kicked off the second phase of its offshore drilling campaign in Australia’s Otway Basin, deploying the Transocean Equinox rig after a brief quarter‑end pause. The program includes a well intervention at Thylacine West and the plug‑and‑abandonment of...
Oil Climbs Above $110 as the World Awaits Trump’s Response on Iran
Oil prices surged to a three‑week high on Tuesday, with Brent crude trading above $111 per barrel and WTI above $98, pushing the weekly gain to nearly 6%. The rally follows Iran’s foreign minister presenting red‑line peace terms to mediators,...
Cooling PV Modules with Hydrogel-Coated Paper
Vietnamese researchers unveiled a low‑cost passive cooling system for photovoltaic (PV) modules that uses hydrogel‑coated paper to channel water flow and interfacial evaporation. Outdoor rooftop tests in Ho Chi Minh City showed temperature drops of up to 14 °C and relative efficiency improvements...
Soltec Appoints Alejandro Moreno as Its President of North America
Soltec, the Spanish maker of single‑axis solar trackers, has named Alejandro Moreno as President of North America, overseeing the United States, Canada and Mexico from its Miami headquarters. Moreno arrives with more than two decades of photovoltaic experience, most recently...
Petrodec’s OBANA Resumes Decom Work with Perenco in North Sea
Petrodec’s OBANA jack‑up platform has resumed decommissioning work for Perenco UK in the Southern North Sea, moving from its Dutch yard to the Pickerill field to strip the jackets of Pickerill A and B. After that, the rig will shift to the...
How to Electrify Greenhouses with Semi-Transparent PV, Heat Pumps
Canadian researchers at Western University demonstrated that 69%‑transparent crystalline silicon semi‑transparent photovoltaic (STPV) modules raise tomato greenhouse yields by up to 38% while providing beneficial partial shading. Simulations using EnergyPlus, Python and SAM showed that pairing these rooftop STPV panels...
Nersa Aims to Make Ferrochrome Tariff Call by End May as It Launches Public Consultations
South Africa's energy regulator Nersa has scheduled public hearings for 25 May to consider Eskom’s request to lower the electricity tariff for ten ferrochrome smelters to 62 c/kWh for five years, potentially starting in June. The move follows an interim 87 c/kWh rate...
Adani Forms Nuclear Subsidiary
Adani Power has created a wholly owned nuclear subsidiary, Coastal‑Maha Atomic Energy Ltd (CMAEL), under its Adani Atomic Energy arm. CMAEL was incorporated with an authorized capital of Rs 500,000 (about $5,400) and will handle generation, transmission and distribution of nuclear...
Energy Security Comes First for Indonesia as It Defies EU over Russian Oil
Indonesia announced a commitment from Russia to ship 150 million barrels of crude oil, enough to meet domestic demand through the end of the year. The deal was sealed during President Prabowo Subianto’s meeting with Vladimir Putin and comes as the...
DNV to Certify UK Northern Endurance CCS Network
DNV has been appointed the independent certifier for the Northern Endurance Partnership (NEP) CO₂ transport and storage project, a cornerstone of the UK’s East Coast Cluster. The initiative will capture CO₂ from industrial emitters in Teesside and pipe it to...
3 Green Energy Stocks for Investors Playing the Long Game in 2026
Long‑term investors have three green‑energy stocks to consider: Bloom Energy, Cameco and GE Vernova. Bloom Energy’s solid‑oxide fuel‑cell platform is driving a $20 billion backlog and projected 60% revenue growth. Cameco, a leading uranium miner, posted $3.5 billion revenue from 21 million pounds of...
Cox Acquires Iberdrola Mexico, Including 12GW Renewable Energy Pipeline, for US$4 Billion
Mexican utility Cox completed a $4 billion acquisition of Iberdrola’s Mexican subsidiary, adding a 12 GW renewable‑energy pipeline and 2.6 GW of operating assets to its portfolio. The purchase follows Iberdrola’s systematic divestment from Mexico, where its revenue fell 18% in 2025, and...
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Tunisia President Sacks Energy Minister Ahead of Renewable Energy Projects Vote
President Kais Saied of Tunisia removed Energy Minister Fatma Thabet on April 28, 2026, just before parliament votes on a suite of renewable energy projects. The projects aim to add 600 MW of clean power and involve roughly €500 million ($585 million) in...
Sunwafe Secures Land Permits for 20GW Spain Solar Wafer Plant, Appoints New CEO
Sunwafe announced the appointment of Michael Pinto, a former GE Capital executive, as its new CEO and confirmed local‑government approval to build a 30‑hectare, 20 GW silicon wafer plant in Asturias, northern Spain. The facility, slated to start production in early 2029, will...
Dajin Hires ZKS Ferrum for Nordseecluster B Offshore Wind Work
Dajin Offshore has engaged Polish steel fabricator ZKS Ferrum to supply secondary steel structures for the Nordseecluster B offshore wind extension, a 1.6‑GW project developed by RWE and Norges Bank Investment Management. The contract covers 20 fabricated sets produced at ZKS...
How Europe's Biggest Blackout Helped Turn Role of Renewables on Its Head
A year after the April 28, 2025 Spain‑Portugal blackout that left 60 million people without power, Spain revised its grid rules to let wind and solar plants provide real‑time voltage control. The change enabled 74 renewable facilities—32 solar and 17 wind—representing 6.7 GW to...
Matrix Closes £245m Eccles BESS Financing
Matrix Renewables secured a £245 million (≈ $306 million) non‑recourse financing for its 500 MW/1 000 MWh Eccles battery energy storage system in southern Scotland. The loan was underwritten by CIBC, MUFG Bank and NatWest, with NatWest acting as facility agent, and follows construction start in...
BWO Calls for German Offshore Policy Clarity
German offshore wind trade group BWO urged the government to deliver a binding policy roadmap ahead of the National Maritime Conference in Emden. The association highlighted the need for sustainable financing of port infrastructure, a reliable offshore rescue system, and...
Fusion Energy Group Seeks PJM Connection for First Commercial Power Plant
Commonwealth Fusion Systems (CFS) became the first fusion developer to apply for interconnection with PJM Interconnection, the nation’s largest wholesale electricity market. The company plans to connect its 400‑MW Fall Line Fusion Power Station in Chesterfield County, Virginia, to the...
How I Pay Almost Nothing to Power My House and Electric Car
Australian households are slashing electricity costs by pairing rooftop solar with subsidized home batteries. A federal incentive has enabled roughly 300,000 homes to install storage, letting owners like the author pay only about US$16 per month even while charging an...
Ericsson and Swisscom Roll Out New Energy Platform for Networks
Ericsson and Swisscom have launched an Energy & Enclosure platform that integrates into Swisscom’s radio access network in Switzerland. The solution combines high‑efficiency power hardware, AI‑driven battery management, lithium storage and a Site Controller 6610 to deliver automated load‑shifting, peak shaving...
Ethiopia-Based Dodai Raises $13 Million to Expand Battery-Swapping EV Network
Dodai, an Ethiopia‑based electric two‑wheeler firm, closed a $13 million Series A round—$8 million equity and $5 million debt—to scale its motorbike and battery‑swapping network in Addis Ababa. The funding arrives as Ethiopia bans private ICE vehicle imports, pushing the nation toward an estimated...
Carlos Slim’s Family Office Makes a Killing From Oil Sales
Carlos Slim’s family office recently sold its stake in an oil refinery it acquired a few years ago when the share price was depressed. The divestiture produced a sizable profit, reportedly in the multi‑hundred‑million‑dollar range. The transaction highlights the office’s...