London CNN Business — The UK government could award oil and gas companies more than 100 new licenses to drill in the North Sea, as it looks for ways to bolster energy security amid a global supply crunch. Launched Friday, the licensing round won’t lead to new UK production for several years. And when drilling […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — The White House isn’t very happy with OPEC’s decision to slash oil production […]
New York CNN Business — Even before Wednesday’s action by OPEC+ to cut oil production, US gas prices were on their way up. More price increases at the pump likely lay ahead. Gas prices rose nearly 3 cents a gallon in AAA’s daily reading Wednesday, to $3.83 a gallon, the biggest one-day hike in nearly […]
London CNN Business — OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections. The group of major oil producers, which includes Saudi Arabia and […]
CNN — As protesters took to the streets of Iran following the death in detention of Mahsa Amini, a 22-year-old woman apprehended for apparently not wearing her hijab properly, videos of the uprising began to flood the internet. Clips of students tearing up pictures of the Ayatollah in northern Iran. Photos of women removing their […]
London CNN — With Europe looking for alternatives to Russian energy, the European Union has set a target to produce 11 million tons of green hydrogen, and import another 11 million tons, by 2030. Green hydrogen (hydrogen produced using renewable energy) is being touted as a clean alternative to fossil fuels that could power heavy […]
London CNN Business — EU governments agreed Friday to tax the windfall profits of oil and gas companies and to cap the revenues of some electricity generators as the cost of Europe’s energy crisis spirals higher. But energy ministers from the 27 EU member states failed to reach an agreement on a proposal by the […]
CNN Business — When Iranian authorities pulled the plug on the internet in 2019 amid anti-government protests, the international community struggled to track the civilian carnage that followed. The people of Iran had taken to the streets to demonstrate after fuel prices surged as much as 300% overnight. The New York Times reported at the […]
CNN — With Category 4 Hurricane Fiona poised to sideswipe Bermuda later this week, people in the storm’s deadly wake still faced days without basic utilities Wednesday – including much of Puerto Rico, where most were left without power and running water. Only about 395,200 of Puerto Rico’s 1.5 million utility customers had power by […]
New York CNN Business — Well, it was nice while it lasted. After sinking every day for more than three months, US gas prices edged higher — by a penny — to $3.68 a gallon, on average Wednesday, according to AAA. That ends 98 consecutive days of falling pump prices, the second-longest such streak on […]