The oil industry has not yet said its last word: Norwegian fossil fuel, oil and gas company Equinor Energy discovered a new oil well in July 2020. Development of the oil industry in Norway It is located in the North
Gulf Energy has acquired 50% of the Borkum Riffground 2 offshore wind farm for around 550 million euros, strengthening its presence in renewable energy. This acquisition is part of Gulf Energy’s international expansion strategy, and takes advantage of the opportunities offered by lower interest rates to diversify its activities in the energy sector.
The Gwynt y Mor offshore wind farm, opened in 2015, is expanding. Renewables specialist RWE Renewables UK has announced one of its newest projects.
Gresham House strengthens its energy storage capacity by acquiring a 41 MW battery installation from Arenko Cleantech.
The Australian government is committed to reducing CO2 emissions with an energy roadmap, despite its coal industry.
Natural gas plays an essential role in the global energy transition, thanks to its lower cost and lower pollution than oil. Russia has the largest reserves, followed by Iran and Qatar, while the USA is increasing its share thanks to shale gas exploitation, with Venezuela, Nigeria and China having smaller reserves.
West Cumbria Mining has stirred up controversy with its decision to build the UK’s first new deep coal mine in over 30 years. The mine will generate significant employment and revenue, but is facing opposition from MPs and environmental groups who believe it runs counter to the UK’s climate objectives.
Oil, the world’s major source of energy, generates geopolitical tensions. Venezuela has the largest reserves, followed by Saudi Arabia, but renewable energies are threatening this dominance. Middle Eastern countries play a key role in this industry.
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