An inquiry carried out by the House of Lords into the EU power sector concluded that European Union’s energy network needs an investment of about 1 trillion euro in the next ten years to come in a move which aims to stave off an energy crisis.
read more... 07/05/2013
According to a new report offered by Bloomberg New Energy Finance, annual investments in renewable energy is likely to almost triple by 2030. Renewable energy systems will account for between 69% and 74% of all new power capacity added worldwide by 2030 due to the decrease in the cost of solar and wind energy technologies.
read more... 24/04/2013
Crude oil production of Exxon, BP, Shell, Chevron and Total has fallen by 25.8% over the past twelve years, after beating an historic high in 2004 when total combined crude production reached 10.76 million barrels a day. The production has fallen despite huge growth in their investments, allowed by the significant increase in crude oil prices practiced since late 2000.
read more... 22/04/2013
According to a report released by Pew Charitable Trusts clean energy investments worldwide dropped 11% in 2012 to $269 billion from 2011 levels, weighed down by regulatory uncertainty and policy changes in big markets such as the US, India, Spain and Italy.
read more... 17/04/2013
British utility SSE has announced it is retreating from a project to build a subsea electricity cable linking Scotland and Norway. SSE is one of the U.K.'s six major energy providers, and it added also that it will no longer have a financial involvement in the NorthConnect project as it intends to focus on investments in its domestic markets.
read more... 07/03/2013