Crude oil prices suffered a significant drop of more than 5% due to the difficulties of Credit Suisse and the bankruptcy of Silicon Valley Bank, which amplified fears of an international recession.
In Germany, greenhouse gas emissions fell by almost 2% last year, reaching the target set for 2022 despite the energy crisis. Renewables and lower industrial production were the main factors in this reduction.
U.S. commercial crude oil inventories rose for the 10th time in 11 weeks, according to the EIA. This increase was due in part to an initial agency estimate error and a decline in demand for refined products such as diesel and propane.
TAQA announced the creation of its subsidiary TAQA Geothermal Energy LLC in partnership with Reykjavik Geothermal. Based in Riyadh, this new company will aim to explore and develop geothermal resources in Saudi Arabia and the MENA region.
The U.S. government has given its approval for the Willow oil project. The environmental associations have announced their intention to take the government to court for not considering alternatives to mitigate the negative effects of the project.
The British government has announced a three-month extension of the household energy price cap, which should have been raised by April 1. The measure, which caps bills at £2,500 a year for the average household, is expected to bring relief to Britons in the midst of the cost of living crisis.
Europe is breaking an all-time record for green power generation with a combined 186 GW of solar and wind generation capacity in one hour, according to data from WindEurope and S&P Global. Solar power production is also at an all-time high, with an average price of 85.26 EUR/MWh.
EDF submits to ASN its revised reactor control strategy following the discovery of major cracks in the piping of certain nuclear power plants. Several cracks were detected, including one of unprecedented size at Penly 1.
CWP Europe announces the acquisition of a new solar project in Romania, confirming its commitment to the energy transition and the reduction of greenhouse gas emissions.
French start-up Neext Engineering is partnering with major players in the nuclear industry to create a modular nuclear power plant. This integrated energy solution aims to decarbonize industry by producing electricity and heat, as well as other industrial solutions such as the production of hydrogen, ammonia or synthetic fuels.
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