CNBC - Energy

Elon Musk is donating a $100 million prize for carbon capture technology — here's what that means

Fri, 22 Jan 2021 19:08:50 GMT

Carbon capture, utilization and storage or sequestration is a process of removing carbon emissions to either store or reuse.

Elon Musk says he will donate $100 million to whoever invents the best carbon capture technology

Fri, 22 Jan 2021 19:08:45 GMT

Tesla CEO Elon Musk has announced that he is donating $100 million towards a prize for the best technology that can capture carbon dioxide.

A German city is hoping to repurpose an old coal plant to start producing green hydrogen

Fri, 22 Jan 2021 17:02:53 GMT

This week also saw two other European projects focused on green hydrogen production take shape.

Hydrogen is going to take 25% of all oil demand by 2050, Bank of America analyst says

Fri, 22 Jan 2021 14:52:58 GMT

Governments and companies around the world are looking to reduce their environmental footprint.

Denmark to trial green hydrogen production using offshore wind turbines

Wed, 20 Jan 2021 14:46:27 GMT

The facility is expected to generate its first hydrogen toward the end of the year.

The U.S. remains important in the oil market, even if Biden is less vocal than Trump: UAE ...

Wed, 20 Jan 2021 09:41:18 GMT

The U.S. will remain important in oil markets, even if President-elect Biden is less vocal than President Trump, says UAE Energy Minister Suhail al-Mazrouei.

OPEC chief pledges to deepen ties with new U.S. ...

Wed, 20 Jan 2021 05:43:54 GMT

OPEC will continue to strengthen relations with the U.S. energy industry under Joe Biden's administration, its Secretary General Mohammed Barkindo told CNBC.

From Jeep to Maserati, Stellantis to roll out 10 new EV models in 2021

Wed, 20 Jan 2021 00:07:41 GMT

The new company's plans come as legacy automakers are struggling to convince Wall Street that they can compete against Tesla and a host of new EV start-ups.

SpaceX bought two former Valaris oil rigs to build floating launchpads for its Starship rocket

Tue, 19 Jan 2021 19:26:37 GMT

Elon Musk's SpaceX bought two deepwater oil rigs last year and is converting them into floating launchpads for its Starship rocket.

Halliburton reports better-than-expected earnings on big North America revenue jump

Tue, 19 Jan 2021 18:33:01 GMT

Halliburton reported on Tuesday quarterly results that topped analysts' expectations amid strong revenue from its North America business.

Canada is set to have one the world's biggest green hydrogen plants

Tue, 19 Jan 2021 15:31:52 GMT

A subsidiary of German industrial giant Thyssenkrupp has been awarded an engineering contract for the project.

IEA cuts 2021 oil demand outlook as new Covid lockdowns weigh on fuel sales

Tue, 19 Jan 2021 09:00:20 GMT

The IEA said it now expects world oil demand to recover by 5.5 million barrels per day to 96.6 million this year.

China's shift from coal helped push natural gas prices to a peak, Eurasia Group says

Tue, 19 Jan 2021 07:48:10 GMT

Cold weather played a part in natural gas prices in Asia hitting new highs, but China's move to gas is an "overlooked factor," said Henning Gloystein of Eurasia.

Exxon reportedly investigated by the SEC over valuation of key asset

Fri, 15 Jan 2021 17:03:10 GMT

Shares of Exxon slipped on Friday after a report from The Wall Street Journal said the SEC launched an investigation into the company.

Public cash must now tackle buyer anxieties over electric vehicles, Renault says

Fri, 15 Jan 2021 14:46:43 GMT

Renault's deputy CEO, Clotilde Delbos, spoke to CNBC on Thursday.

Tesla losing ground in Europe should trouble investors, strategist says

Fri, 15 Jan 2021 10:05:38 GMT

Tesla has been ceding ground in Europe, with its Model 3 only the fourth-best selling pure electric vehicle (EV) on the continent in November.

Oil optimism could be derailed by coronavirus risks, Dan Yergin says

Fri, 15 Jan 2021 08:55:09 GMT

OPEC has left its 2021 forecast for crude demand growth unchanged, but Dan Yergin warns it's dependent on the success of the Covid-19 vaccines.

Norway's Equinor clinches one of the largest ever renewable energy contracts in the U.S.

Thu, 14 Jan 2021 16:18:25 GMT

Equinor is set to partner with another energy major, BP, on the projects.

OPEC says its outlook for the oil market is still clouded by pandemic fears

Thu, 14 Jan 2021 14:58:24 GMT

The closely-watched oil market report comes as coronavirus cases continue to surge worldwide, with new lockdowns imposed in Europe and parts of China.

Biden's focus on climate change could turn up the pressure on China's mega infrastructure program

Thu, 14 Jan 2021 05:36:10 GMT

China has promised a greater focus on cleaner projects under the Belt and Road Initiative — but it has little concrete results to show so far, said analysts.