European gas prices once again rose to record highs on fears over Russian supply peak. The gas prices have spiked in recent days because of the three-day halt in Russian deliveries to Germany via the Nord Stream 1 continues to approach. The biggest fear is that Moscow will now turn the taps back on afterwards […]
Tag: Energy
The Cost Of Living Crisis Worsens In UK as Energy Prices Increase
UK’s energy crisis is all set to worsen the country’s cost of living crisis with winter coming close and an energy price increase due in October inflation levels in the country might break all records. Financial experts at US based Citibank predict the country’s inflation levels will cross 18% in January 2023. The last time […]
Australian Banks To Stop Giving Loans For New Diesel And Gasoline Cars
Australia looks to give a new push to electric cars as Australian banks plan to stops giving loans for diesel and gasoline cars as a way to encourage sales of cars that run on alternate fuel. Australia is trying to encourage the use of electric vehicles and also to catch up with other developed nations. […]
Sichuan Power Crisis Hits Production for Apple’s Supplier BOE
Signs of disruption in Apple’s manufacturing are being seen in China’s Apple supplier BOE technology group. BOE group announced it will make adjustments to its operations in Sichuan province in China due to power rationing there in the region. The company said it is in communication with executives and expects there will be no major […]
French Nuclear Energy Group EDF Records Big Loss Ahead Of Renationalisation
French Energy Company EDF posted record loss of 5.3 billion Euros. EDF produces nuclear power and is largely owned by the state. EDF said last week that they faced a loss of more than 5 billion Euros in the first half of the year. One of the problems which EDF faced was an unexpected corrosion […]
Western Countries Ease Oil Restrictions On Russia As Inflation And Energy Fears Grow
The global energy crisis is forcing western powers to ease back on their efforts to limit Russian oil trading. The United Kingdom has delayed the plan for coordinated ban with the European Union for providing insurance for vessels carrying Russian oil. This is due to fears of imposing immediate worldwide restrictions would cause crude oil […]