Fosil Fuels
Global Coal Production Falls 6.2% in the Biggest Decline in History
U.S. President Donald Trump may believe coal is the future, but newly-released statistics by BP state otherwise. According to the data, global coal production fell by an astonishing 6.2 percent last year — the largest annual decline on record. Additionally,…
India Cancels Nearly 14 Gigawatts Of Proposed Coal Plants
The transformation of India’s electricity market continues to deliver, as shown this month by the cancellation of 13.7 gigawatts of proposed coal-fired power plants, an admission that 8.6 gigawatts of operating coal is already non-viable, and the parallel move of…
US Coal Plant Closures Likely To Eliminate 30 Million Tons Of Annual Coal Demand
The United States is closing 46 coal-fired generating units at 25 electricity plants across 16 states over the next few years, transitioning to natural gas or intentionally closing them, and a new report shows that this will likely result in…
Traders Bet their Oil Storage Assets that OPEC Cuts Will Work
The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses that profited from oversupply. Since January, Glencore, Vitol and Gunvor…
World Abandoning Coal in Dramatic Style Raises Hope of Avoiding Dangerous Global Warming, Says Report
As Donald Trump pledges to put coal miners back to work in the United States, the rest of the world appears to have suddenly started moving in the opposite direction, abandoning the dirtiest of fossil fuels after 10 years of…
Board of Directors Reviews Cost Optimization Options for 2017
The Gazprom Board of Directors took note of the information about Gazprom Group’s cost optimization (reduction) options for 2017. It was underscored that throughout the current year the Company would sustain its comprehensive approach to cost growth control, including by…
Construction Contract Signed for Second String of TurkStream’s Offshore Section
South Stream Transport B.V. and Allseas Group signed in Amsterdam a contract to build the second string of the TurkStream gas pipeline’s offshore section. The document was signed as part of the option included in the construction contract for the…