Energy Archives - Page 14 of 157

The other countries that signed up to the declaration include Britain, Bulgaria, Canada, the Czech Republic, Finland, France, Hungary, South Korea, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, ...

A declaration endorsed by nations ranging from the US to Ghana to Japan and several EU countries said nuclear energy plays a "key role" in reaching the goal of carbon neutrality
The use of nuclear energy as a cleaner alternative to fossil fuels is controversial as environmental groups are concerned about safety and the disposal of nuclear waste

COP28 UAE

134 nations to put food, agriculture in national climate plans

"This declaration is the moment when food truly comes of age in the climate process, sending a powerful signal to...

A total of 134 countries who produce 70 percent of the food eaten worldwide signed the declaration, summit hosts the United Arab Emirates said
The 134 nations are home to 5.7 billion people and represent more than three quarters of all greenhouse gas emissions from the global food system

Geostrategy

UAE President announces $30bn Global Climate Fund at COP28 meet

In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh...

The fund, designed to address the critical gap in climate financing, aims to enable affordable access to climate finance.
The UAE President highlighted the global urgency of addressing climate change and its pervasive impacts on life.

COP28 puts spotlight on state oil giants

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but...

National oil companies, or NOCs, "account for more than half of global production and close to 60 percent of the world's oil and gas reserves," the IEA said
NOCs and the oil majors - which include BP, Chevron, ExxonMobil, Shell and TotalEnergies - will all be "critical to efforts to achieve net zero" emissions by 2050

Business

Brazil to become OPEC+ member in 2024, says group

Vienna, Austria - Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday.Brazil is among the...

Brazil's crude production hit a record 3.7 million barrels per day in September, a near 17 percent increase from the same month last year
OPEC+ was born in late 2016 when Russia and nine others joined forces with the Saudi-led OPEC to prop up falling prices

Science

Europe’s largest nuclear reactor malfunctions again

Helsinki, Finland - Finland's Olkiluoto 3, the largest nuclear reactor in Europe, stopped production on Wednesday after a test caused the plant unit...

Before production was interrupted at 1:35 pm (1135 GMT), Olkiluoto 3 was undergoing a fault ride-through test where a short circuit is created near the power plant
The reactor only resumed production last Wednesday following a shutdown due to a malfunctioning temperature measurement in the generator's cooling system

Business

UAE to pump CO2 into rock as carbon capture debate rages

Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump...

The first CO2 injection is expected during COP28, and where the debate over hydrocarbons will be a key battle between campaigners and the oil lobby.
Oil producers are throwing their weight behind carbon capture and storage (CCS) technology as a global warming solution despite criticism from climate experts.

Economy

Oil prices inch up on mixed day for US stocks

World stock markets have made robust gains in recent weeks on hopes that the US central bank had finished with...

Fed Governor Christopher Waller said he was "encouraged" by recent progress on the economy
Market analysts say the gain came "as expectations build on the prospect of another output cut"

Business

Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction

ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...

CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.

Geostrategy

COP28 host UAE braces for rising heat risk, targets carbon neutrality

As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing...

The UAE's scorching summers, when many flee for cooler climes and the streets empty, look set to worsen due to climate change, various studies show
The region's extreme heat and high humidity are a dangerous mix as in such conditions the human body struggles to cool itself by evaporating sweat on the skin