Israel carried out airstrikes on a port city and energy infrastructure in Yemen on Thursday after a missile targeting central Israel was shot by the Iran-aligned Houthi rebels in Yemen. The Israeli airstrikes killed at least nine people, local officials told AP, after Israel targeted with fighter jets the port city of Hodeida, the Salif port, and the oil terminal Ras Isa on the Red Sea. Another wave of Israeli strikes targeted energy infrastructure in the Houthi-controlled capital of Yemen, Sanaa. The Iran-aligned Houthis have been targeting Israel…

Israel carried out airstrikes on a port city and energy infrastructure in Yemen on Thursday after a missile targeting central Israel was shot by the Iran-aligned Houthi rebels in Yemen. The Israeli airstrikes killed at least nine people, local officials told AP, after Israel targeted with fighter jets the port city of Hodeida, the Salif port, and the oil terminal Ras Isa on the Red Sea. Another wave of Israeli strikes targeted energy infrastructure in the Houthi-controlled capital of Yemen, Sanaa. The Iran-aligned Houthis have been targeting Israel…

Israel carried out airstrikes on a port city and energy infrastructure in Yemen on Thursday after a missile targeting central Israel was shot by the Iran-aligned Houthi rebels in Yemen. The Israeli airstrikes killed at least nine people, local officials told AP, after Israel targeted with fighter jets the port city of Hodeida, the Salif port, and the oil terminal Ras Isa on the Red Sea. Another wave of Israeli strikes targeted energy infrastructure in the Houthi-controlled capital of Yemen, Sanaa. The Iran-aligned Houthis have been targeting Israel…

A month ahead of President-elect Donald Trump’s return to the White House, the Biden Administration on Thursday set a bold new target of reducing net greenhouse emissions by between 61% and 66% below 2005 levels by 2035. The so-called U.S. Nationally Determined Contribution (NDC) is a pledge under the Paris Agreement, from which Trump could withdraw, again, as he did in his first term in office. Trump is expected to undo a lot of the climate policies of President Biden, and the Paris Agreement and many current policies to cut emissions are…

U.S. supermajor Chevron and Australia’s energy group Woodside have agreed to an asset swap deal that will allow them to focus on their operated LNG assets in Australia. Under the agreement the companies announced on Thursday, Chevron Australia Pty Ltd will transfer to Woodside its 16.67% non-operated interest in the North West Shelf (NWS) Project, NWS Oil Project, and its 20% non-operated interest in the Angel Carbon Capture and Storage (CCS) Project. At the same time, Chevron Australia will obtain Woodside’s 13% non-operated interest…

U.S. supermajor Chevron and Australia’s energy group Woodside have agreed to an asset swap deal that will allow them to focus on their operated LNG assets in Australia. Under the agreement the companies announced on Thursday, Chevron Australia Pty Ltd will transfer to Woodside its 16.67% non-operated interest in the North West Shelf (NWS) Project, NWS Oil Project, and its 20% non-operated interest in the Angel Carbon Capture and Storage (CCS) Project. At the same time, Chevron Australia will obtain Woodside’s 13% non-operated interest…

Despite sitting atop the world's second-largest natural gas reserves, energy shortages have become a feature of winters in Iran. Iran grapples with air pollution all year, but air quality significantly worsens during winter when power plants are forced to burn low-quality heavy fuel oil -- mazut -- to compensate for the lack of gas. A rare cold snap in recent weeks has exposed the extent of Iran's struggles to meet the rising demand for gas, with school classes forced to go online and government offices ordered shut to conserve energy. Highlighting…

China has connected one of the world’s largest solar power projects by capacity to the grid as the country continues to boost renewable energy installations. The Ruoqiang PV project is a giant 4-gigawatt (GW) solar project in the southeastern part of the Taklamakan Desert, developed and operated by China Green Electricity Investment. The project was connected to the grid this week, Chinese media report. The capacity of Ruoqiang PV is so massive that it is equal to the entire installed solar capacity in Canada, according to data from BloombergNEF…

China has connected one of the world’s largest solar power projects by capacity to the grid as the country continues to boost renewable energy installations. The Ruoqiang PV project is a giant 4-gigawatt (GW) solar project in the southeastern part of the Taklamakan Desert, developed and operated by China Green Electricity Investment. The project was connected to the grid this week, Chinese media report. The capacity of Ruoqiang PV is so massive that it is equal to the entire installed solar capacity in Canada, according to data from BloombergNEF…

Doubts about oil demand growth will persist beyond 2024, and fears of a price slump will be there to keep them company. That’s according to some recent predictions about the state of the oil market in 2025, which see demand growing, China directing the market, and OPEC still likely to unwind its production cuts. As early as November, some analysts warned that OPEC may decide it has had enough of losing market share and start bringing oil back whatever the price. This could bring the benchmarks down to $40 per barrel, Tom Kloza from OPIS told…

Back in February, leading energy information company, Energy Intelligence, reported that interest in long-term LNG projects remains robust despite the Biden administration pausing new licenses for LNG export projects still in the planning pipeline. Back then, the Department of Energy justified the pause by highlighting lingering fears that shipping large volumes of U.S. gas overseas could erode America’s competitive advantage of cheap energy critical for energy-intensive industries such as steelmaking and petrochemicals and also seeks to…

European countries are ramping up sanctions pressure on Russia as they look to reduce Vladimir Putin’s oil revenues that fund the war in Ukraine. The UK and the European Union announced this week a raft of new sanctions that target Russia’s shadow fleet of tankers enabling oil trade. The UK went further, sanctioning two trading firms, which it described as “key lynchpins in enabling the trading of Putin’s precious oil.” Moreover, the UK and other countries around the North Sea and the Baltic Sea are stepping up efforts…

Following the recent election of Donald Trump as the next president of the U.S., the Biden administration is racing to approve huge quantities of green funding to ensure the U.S. gets the best chance possible at a green transition. The Biden government’s far-reaching climate policy, the Inflation Reduction Act (IRA), is under threat as President-elect Trump has repeatedly threatened to cut spending on renewable energy and clean tech in favour of greater fossil fuel production. The government is, therefore, racing to advance clean energy before…

Via Metal Miner Overall, the Copper Monthly Metals Index (MMI) remained bearish, with a 4.65% decline from November to December. Copper Prices to Close 2024 Up, But the Outlook is Down Often a bellwether for the global economy, the price of copper became a bellwether for market emotionality throughout 2024. Despite lackluster demand conditions, copper prices embarked on a volatile year, which had knock-on effects for the entire base metal category. Comex Copper Prices, Source: MetalMiner Insights Q1 2024 saw a rather auspicious start. Many believed…

National Grid plans to nearly double the amount of energy it can transport across the country via an unprecedented £35bn investment over the next five years into its electricity transmission business. The grid operator on Wednesday said its business plan, which covers the period April 2026 to March 2031, would be the “most significant step forward in the UK’s transmission network for a generation.” “Through it we will nearly double the amount of energy that can be transported around the country, support the electrification…

Dozens of kilometers of Black Sea coastline in Russia's Krasnodar region have been covered in heavy fuel oil, local authorities and residents reported on December 17, after two oil tankers were heavily damaged during a storm in the Kerch Strait. Regional Governor Veniamin Kondratyev said cleanup crews were being dispatched to the area as high winds helped spread large amounts of spilled oil along the coastline, raising concerns of an impending environmental disaster in the Black Sea. Social media photos and video showed wildlife covered in dark…

Nigeria's oil minister has finally approved Shell Plc’s (NYSE:SHEL) sale of $2.4 billion in assets to Renaissance Group, Renaissance has revealed. The greenlight comes just two months after Africa's biggest crude producer declined to approve the sale of Shell's onshore and shallow-water oil and gas in the Niger Delta region to a consortium of local companies. The rejection marked a setback for Shell, which has sought to exit the West African oil sector that’s currently plagued by significant oil spills and theft. The Nigerian assets…

Nigeria's oil minister has finally approved Shell Plc’s (NYSE:SHEL) sale of $2.4 billion in assets to Renaissance Group, Renaissance has revealed. The greenlight comes just two months after Africa's biggest crude producer declined to approve the sale of Shell's onshore and shallow-water oil and gas in the Niger Delta region to a consortium of local companies. The rejection marked a setback for Shell, which has sought to exit the West African oil sector that’s currently plagued by significant oil spills and theft. The Nigerian assets…

Yemen's Houthi rebels have sparked turmoil across the Southern Red Sea and Gulf of Aden for over a year, targeting Western-linked container ships, tankers, and military vessels. The resulting supply chain snarls have had major implications on global trade, causing a surge in container rate prices and shipping diversions around the Cape of Good Hope. However, early indications suggest that President-elect Trump's strongman image could help de-escalate tensions and alleviate bottlenecks across this critical maritime chokepoint.  The incoming…

The Environmental Protection Agency (EPA) has approved California’s bid to enforce a rule to end sales of new gasoline-powered vehicles in the state by 2035. California Gov. Gavin Newsom has applauded the decision, saying it will improve public health by slashing harmful air pollution as residents adopt cleaner electric or hybrid vehicles. “Clean cars are here to stay,” Newsom said in a written statement. “Automakers have made it clear they stand with California and consumers as we move toward clean cars that save money.…