South Korea's KEPCO has secured a major contract to develop the second phase of a cogeneration plant in Saudi Aramco's Al-Jafurah field, expanding its Middle East energy footprint. The project, valued at $556 million, is expected to generate $1.4 billion in revenue over 17 years.
Russia's Deputy Prime Minister Alexander Novak says the energy crisis in the Middle East shouldn't be seen as a way to solve budgetary problems, despite potential growth in export revenues.
Malaysia’s plan to stop wealthier drivers from enjoying cheap subsidised petrol has left Prime Minister Anwar Ibrahim facing a politically fraught question: how to define “rich” without punishing households already squeezed by higher living costs. The issue has sharpened as the Middle East energy shock strains government finances, forcing authorities to weigh fiscal discipline against the risk of angering middle-class voters in a car-dependent country. Anwar said the government had agreed in...
European Commission President Ursula von der Leyen reports that the Middle East conflict is costing Europe nearly €500 million daily in increased fossil fuel import bills, prompting calls for faster electrification and energy independence.
Energy Secretary Ed Miliband will this week announce a package of new clean energy policies in response to the energy crisis triggered by Donald Trump's conflict with Iran. The measures include accelerating the warm homes plan for solar panels and electric vehicles, expanding solar on public land, and delinking gas and electricity prices to reduce consumer bills. Miliband will argue the era of fossil fuel security is over and clean energy must come of age, while facing pressure from Conservatives to increase North Sea drilling.
