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Oct 17, 2025

Daily (17.10.2025): Crude oil prices dropped to a 5-month low on Thursday as investors eye Trump-Putin Ukraine talks

Market uncertainty over a potential U.S.-Russia meeting to discuss ending the Ukraine war put pressure on crude oil prices on Thursday. Additional downside came from a bigger-than-expected U.S. crude stock build, with the EIA reporting inventories up 3.5 million barrels to 423.8 million, driven by reduced refinery runs. As a result, Brent...

Oct 17, 2025

EU reveals its global vision for climate and energy.

The European Commission and the High Representative have unveiled a new international strategy aimed at enhancing Europe's influence in global climate and energy markets. This EU global climate and energy vision outlines plans to secure Europe's industrial standing, advocate for fair transition standards, and tackle emerging security issues. The ...

Oct 16, 2025

Netherlands Launches 1 GW Nederwiek I-A Offshore Wind Bid.

The tender for the 1 GW Nederwiek I-A offshore wind energy site is now open, with the winning bid expected to be revealed in spring 2026. This wind farm will be situated about 95 kilometers from the northern tip of North Holland, in the southern section of the Nederwiek offshore wind zone. It will connect to TenneT's Nederwiek 1 platform, part of t...

Oct 16, 2025

Tunneling sector enhances collaboration on waste storage facilities.

The International Tunnelling and Underground Space Association, in collaboration with the International Atomic Energy Agency, has established a special interest group aimed at helping member states understand the technical and safety requirements for developing geological disposal facilities. On September 26, representatives from the IAEA, led by...

Oct 16, 2025

Norway Plans to Increase Expenditure from Its $2 Trillion Oil Fund in the 2026 Budget.

On Wednesday, the Norwegian government proposed increased spending from the country's oil fund, the largest sovereign wealth fund globally, in its budget for next year, as outlined in the draft budget by the Labor Party, which recently secured a second term. Jonas Gahr Støre's Labor government will need support from coalition partners to pass the...

Oct 16, 2025

Montenegro and Italy are set to finish the second undersea power cable project by 2031.

Montenegro anticipates that the setup of a second undersea power cable to Italy will be finished by 2031, according to energy minister Admir Sahmanovic. This will further enhance Montenegro's position in the regional and European energy connectivity market, Sahmanovic mentioned during the Smart Growth, Green Future conference in Tivat this week. T...

Oct 16, 2025

Successful testing represents a significant advancement for the carbon storage sector.

The UK carbon storage industry has achieved a significant milestone with the drilling of the first appraisal well at a licensed carbon storage site during the North Sea Transition Authority’s (NSTA) 2023 licensing round. Managed by Eni, the well was drilled in the Hewett field, part of the Bacton Carbon Capture and Storage (CCS) project. This marks...

Oct 16, 2025

Van Oord Earns Hydraulic Engineering Awards for Its Offshore Wind Projects

Dutch offshore installation company Van Oord has received the esteemed Jan Agema Award 2025 for its work on the offshore wind projects Borssele III, IV, and V. The jury commended the project for its technical innovation, social significance, and future-oriented design, recognizing it as a strong response to the critical energy transition in the Nor...

Oct 16, 2025

Hungary criticizes EU energy policy at a conference in Moscow.

Hungary would face negative consequences if it lost access to Russian energy, stated Budapest's foreign minister during his visit to Moscow. Peter Szijjarto emphasized that Hungary would not bow to external pressure regarding its energy decisions. While attending the Russian Energy Week forum, he highlighted Hungary's differing stance from most N...

Oct 16, 2025

Floating solar panels inspired by spiderweb structure.

A team of researchers from Scotland's University of Strathclyde has introduced a new concept for floating photovoltaic (FPV) farms resembling a web structure. The design's technical viability was assessed using the Morison model, which is typically used for evaluating wave loads on offshore installations. Different FPV configurations were tested to...

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