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South Korea announced an emergency funding package of 3 trillion won ($2 billion) for its automotive sector to mitigate the effects of President Donald Trump’s tariffs.The government plans to reduce taxes on car purchases from 5 percent to 3.5 percent until June. Additionally, subsidies for electric vehicles will increase to between 30 an...

The U.S. dollar fell sharply on Wednesday after President Donald Trump increased tariffs on China, raising concerns about a prolonged trade conflict and a potential recession in the U.S.At 04:10 ET (08:10 GMT), the Dollar Index, which measures the dollar against a basket of six other currencies, decreased by 0.4% to 102.277, after droppin...

The Algerian state-owned company Sonatrach has started to bring back online units at its 198,000 barrels per day refinery located in Augusta, Sicily, after completing scheduled maintenance.This refinery has undergone a comprehensive five-year overhaul, the first of its kind since the spring of 2019, which followed its acquisition from Exx...

The European Union may think about consolidating the demand of its member states for U.S. liquefied natural gas (LNG) during negotiations with President Donald Trump to avoid a trade conflict, Lithuania's energy minister informed Reuters on Tuesday.When EU ministers gathered on Monday to discuss the bloc's reaction to Trump's proposed 20%...

The Caspian Pipeline Consortium announced on Wednesday that it is operating at two of the three moorings at its Black Sea export terminal after a Russian court lifted restrictions on its infrastructure. This development alleviates concerns regarding a potential decline in oil output and exports from Kazakhstan.Typically, the CPC operates ...

Ennatuurlijk, the parent company of Ennatuurlijk Aardwarmte, has successfully acquired two advanced geothermal doublets in Andijk, located in the North Holland province of the Netherlands. Previously managed by Ennatuurlijk, these doublets provide local businesses with sustainable heating, saving 28 million cubic meters of natural gas each year, wh...

Meton Energy, a partnership between RWE Renewables Europe & Australia and PPC Renewables, has declared the final investment decision for two major photovoltaic projects in Central Macedonia, Greece.The solar installations, named Kotyli and Neo Syrakio, will collectively have a peak capacity of 567 megawatts (MWp) and are slated to begin c...

Kazakhstan does not anticipate a significant decrease in crude production in April following a substantial overshoot of its Opec+ target in March.According to Deputy Energy Minister Alibek Zhamauov, Kazakhstan's crude output increased by 43,000 b/d, reaching a record 1.79 million b/d in March, which is 322,000 b/d above its Opec+ target o...

The UK government has declared an investment of GBP20 million (USD25.5 million) to initiate Starmaker One – a British private fusion investment fund that aims to aid fusion enterprises and start-ups in expanding and commercializing at a larger scale.Starmaker One operates as a limited partnership with the government acting as a cornerston...

Crude oil prices fell to their lowest level since 2021 after the U.S. imposed a new 50% tariff on Chinese imports, following China's refusal to lift its own retaliatory 34% tariffs that were enacted in response to the U.S.'s initial 34% tariff on existing taxes.As of the time of this report, Brent crude was priced at $60.36 per barrel, wh...

On Tuesday, U.S. President Donald Trump signed executive orders aimed at increasing coal production, marking a move that contradicts global efforts to limit carbon emissions. According to the Energy Information Administration, coal-fired plants account for less than 20% of U.S. electricity, down from 50% in 2000, as fracking and other drilling meth...

There is widespread speculation that the Nord Stream pipelines might be restarted if a peace agreement is reached between Russia and Ukraine. However, is Europe truly ready to begin importing large quantities of Russian gas again? By early 2025, Russian gas supplies in Europe had diminished significantly. Warsaw had imposed st...

Amentum, an engineering company based in the US, has been chosen by the Czech utility company ČEZ to aid in its new nuclear initiative by furthering plans for two small modular reactors.In September of the previous year, the Czech Republic selected the UK firm Rolls-Royce SMR after evaluating seven possible technology providers for its pr...

The German energy company RWE AG and the Greek power utility PPC SA have made the final investment decision to construct two solar parks in northern Greece with a total capacity of 567 MWp/518 MWac, as announced today.The joint venture of the companies, Meton Energy SA, intends to begin construction on the Kotyli and Neo Syrakio projects ...