Business
German VW workers kick off second round of strikes
Volkswagen workers strike for 4 hours, opposing plans to close 3 German plants. Talks with unions stall as savings proposals clash.
US average gasoline price drops below $3 a gallon for the first time since 2021
U.S. gas prices drop below $3/gallon for the first time since 2021, offering relief to consumers amid broader inflationary pressures.
Stellantis’ former head of Ram returns to run the brand
Tim Kuniskis returns as Ram CEO to boost Stellantis amid falling sales and profits after Carlos Tavares' unexpected resignation.
Lundin selling pair of mines in Europe to Boliden AB in deal worth up to US$1.52B
Lundin Mining Corp. has signed a deal to sell a pair of mines in Europe to Boliden AB in an agreement valued at...
EV maker VinFast to build second production plant in Vietnam
VinFast said the new facility is expected to produce 300,000 units annually in its initial phase.
Varo Energy in talks to buy Preem’s Swedish refineries, sources say
Varo already has stakes in refineries in Germany and Switzerland and is expanding in sustainable fuel and trading.
Stellantis to rejoin ACEA auto manufacturers association, signaling potential shift in electrification plans
Stellantis plans to rejoin auto lobby ACEA, signaling a potential shift in electrification strategy after former CEO Tavares' exit.
Oilfield services provider Flowco shows revenue surge in US IPO filing
Flowco Holdings has filed for a U.S. IPO, targeting a potential $2 billion valuation and listing on the NYSE under the ticker 'FLOC.'
Goldman Sachs quits global climate coalition for banks
Banks joining the voluntary NZBA agree to align with the world's aim of reaching net-zero emissions by 2050.
Chevron CEO says no discussions with President-elect Trump on Venezuela
Chevron maintains operations in Venezuela, aligning with U.S. policy; CEO Wirth notes Russian and Chinese firms could replace them if they exit.
BP seeks buyers for US natural gas pipeline system stake, sources say
BP could raise up to $3 billion from the sale of up to a 49% stake in the business.
California law, refinery exit reflect ongoing fuel market challenges, EIA says
Fuelmakers in California could face more headwinds next year as new legislation takes effect and refining margins remain weak.
Tesla aims to launch robotaxi with teleoperator backup, Deutsche Bank says
Tesla plans robotaxi service in 2024 with a company-owned fleet and human teleoperators, starting in California and Texas.
US to offer oil and gas leases in Alaska wildlife refuge on Jan. 9
Biden administration to auction 400,000 acres in Alaska's Arctic Refuge for drilling, sparking environmental and economic debates.
US average gasoline price drops below $3 a gallon for the first time since 2021
U.S. gas prices drop below $3/gallon for the first time since 2021, offering relief to consumers amid broader inflationary pressures.
Oilfield services provider Flowco shows revenue surge in US IPO filing
Flowco Holdings has filed for a U.S. IPO, targeting a potential $2 billion valuation and listing on the NYSE under the ticker 'FLOC.'
New Mexico seeks record $47.8M fine for excess air pollution by natural gas processor
New Mexico fines Targa Resources $47.8M for alleged air pollution, issuing cease order at gas plant near Texas border.
B.C. selects nine wind power projects to boost energy supply by eight per cent a year
B.C. has okayed nine wind energy projects that will boost its hydro-electric grid by eight per cent a year, enough to power 500,000...
Lundin selling pair of mines in Europe to Boliden AB in deal worth up to US$1.52B
Lundin Mining Corp. has signed a deal to sell a pair of mines in Europe to Boliden AB in an agreement valued at...
Alberta releases new rules and no-go zones on wind and solar projects
Alberta has released new wind and solar development rules it says are needed to protect the environment, food security and the province's scenery.
Number of inactive oil and gas wells in Alberta fell five per cent in 2023: report
Alberta oil producers spent $769M on well cleanups in 2023, exceeding provincial requirements as inactive wells dropped by five per cent.
Taiwan firm halts plan for $1B battery plant in B.C. that had federal support
A $1B lithium-ion battery plant in Maple Ridge, B.C., has been shelved as Taiwan Cement Corp. focuses on local production.
Stellantis, China’s CATL to invest $4.33 billion in EV battery factory in Spain
Stellantis and CATL have set up a 50-50 joint venture for the project and expect to start production by the end of 2026.
Stellantis’ former head of Ram returns to run the brand
Tim Kuniskis returns as Ram CEO to boost Stellantis amid falling sales and profits after Carlos Tavares' unexpected resignation.
German VW workers kick off second round of strikes
Volkswagen workers strike for 4 hours, opposing plans to close 3 German plants. Talks with unions stall as savings proposals clash.
Stellantis to rejoin ACEA auto manufacturers association, signaling potential shift in electrification plans
Stellantis plans to rejoin auto lobby ACEA, signaling a potential shift in electrification strategy after former CEO Tavares' exit.
Fact check: Many UK wind power auctions set prices below the current market price
There is an auction every year to allow generators of renewable energy to bid for contracts under the British scheme.
China’s Xiaomi to launch new SUV next summer amid rising demands
Xiaomi will launch its first electric SUV, the YU7, as it ventures deeper into China's competitive auto market.
EV maker VinFast to build second production plant in Vietnam
VinFast said the new facility is expected to produce 300,000 units annually in its initial phase.
Nissan boss Uchida races to save the automaker – and his job
Uchida faces questions about the decline of a company that five years ago had the world's top EV model.
GM to take more than $5 billion in charges on China operations
GM's China division, once profitable, now loses money as local rivals, boosted by subsidies, outpace U.S. and European carmakers.
Thailand to extend production timeframe for battery EVs, investment board says
Thailand extends BEV production and boosts hybrid EV incentives to support South East Asia's auto hub.
Chile regulator charges Anglo American mine over environmental violations
Chile charges Anglo American's El Soldado mine with environmental violations, risking closure or a $12M fine without compliance.
Exxon talks continue on shallow-water block in Guyana auction, company says
Exxon, Hess, and CNOOC continue talks with Guyana on shallow-water block S8 amid earlier auction withdrawal confusion.
Threatened by climate change, Panama Canal has big plans to deal with drought
The Panama Canal plans a $1.6B reservoir to tackle drought but faces opposition.
Chile’s Codelco boosts copper output in final dash to meet 2024 target, sources say
Codelco is ramping up copper output to meet 2024 targets after a weak first half, aiming for 1.331M tons, sources reveal.
Bolivia announces $1 bn deal with China to build lithium plants
Bolivia signs $1B deal with China's CBC, a CATL subsidiary, to build two lithium carbonate plants in the southwest.
France’s Orano says Niger junta controls uranium unit
"For several months, Orano has been warning of the interference that the group has been suffering in the governance of Somair," the group...
UAE’s Abu Dhabi sets out measures to help business get away from oil
Abu Dhabi launches a new business registry called ADRA to diversify its economy away from oil.
New Botswana leader eyes cannabis, sunshine to lift economy
Botswana's President Duma Boko unveils plans to diversify the economy via solar energy, medicinal cannabis, and tech innovation.
South Africa’s revised carbon tax to be harsher but with more offsets, Treasury says
South Africa is one of the world's top 15 greenhouse gas emitters and the only country in Africa with a carbon tax.
Saudi Aramco says quarterly profit drops 15% on low oil prices
The world's largest crude oil exporter, Saudi Aramco, reports a Q3 profit drop of 15 per cent, reflecting lower oil prices and ongoing...
Alberta releases new rules and no-go zones on wind and solar projects
Alberta has released new wind and solar development rules it says are needed to protect the environment, food security and the province's scenery.
Oilfield services provider Flowco shows revenue surge in US IPO filing
Flowco Holdings has filed for a U.S. IPO, targeting a potential $2 billion valuation and listing on the NYSE under the ticker 'FLOC.'
New Mexico seeks record $47.8M fine for excess air pollution by natural gas processor
New Mexico fines Targa Resources $47.8M for alleged air pollution, issuing cease order at gas plant near Texas border.
Stellantis to rejoin ACEA auto manufacturers association, signaling potential shift in electrification plans
Stellantis plans to rejoin auto lobby ACEA, signaling a potential shift in electrification strategy after former CEO Tavares' exit.
Chevron CEO says no discussions with President-elect Trump on Venezuela
Chevron maintains operations in Venezuela, aligning with U.S. policy; CEO Wirth notes Russian and Chinese firms could replace them if they exit.
As climate focus shifts to states, US East Coast partnership offers model for multi-state collaboration
A trailblazing 11-state regional greenhouse gas partnership on the U.S. East Coast is considering possible changes or expansion.
Trump may cancel US Postal Service electric mail truck contract, sources say
Trump's team may cancel USPS contracts for electric delivery trucks, aligning with his rollback of Biden's EV and climate policies.
Fact check: Many UK wind power auctions set prices below the current market price
There is an auction every year to allow generators of renewable energy to bid for contracts under the British scheme.
Norway wealth fund hits record 20 trillion crowns
Norway's fund owns about 1.5% of all listed stocks globally.
Goldman Sachs quits global climate coalition for banks
Banks joining the voluntary NZBA agree to align with the world's aim of reaching net-zero emissions by 2050.