Business

BP Scraps Target of Reducing Oil Production by 2030

BP Scraps Target of Reducing Oil Production by 2030

Oil major BP has scrapped its goal of reducing oil and gas production by the end of the decade, angering environmental groups who say the company is prioritizing profits over the planet. According to three sources who have knowledge on the matter, BP CEO Murray Auchincloss scaled back the company’s energy transition plans in order […]

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    In World First, EVs Now Outnumber Gas-Powered Cars in Norway

    In World First, EVs Now Outnumber Gas-Powered Cars in Norway

    In a major milestone, electric cars (EVs) now outnumber gas-powered cars in Norway for the first time, according to the Norwegian Road Federation (OFV), as AFP reported. Of private cars registered in the country, 754,303 of 2.8 million are all-electric, with 753,905 running on gas. “This is historic. A milestone few saw coming 10 years […]

    Jobs in U.S. Solar Industry Reached Record High in 2023

    Jobs in U.S. Solar Industry Reached Record High in 2023

    The future is looking bright for green jobs in the solar industry. According to the latest National Solar Jobs Census, published by the nonprofit Interstate Renewable Energy Council, solar jobs in the U.S. grew by nearly 6% in 2023. With this growth, U.S. solar industry jobs reached 279,447 last year, a record high, Reuters reported. […]

    Volvo Does U-Turn on Target of 100% EVs by 2030

    Volvo Does U-Turn on Target of 100% EVs by 2030

    Volvo Cars has scrapped its goal of selling only electric vehicles (EVs) by 2030, as demand for battery-powered vehicles falls. The Swedish carmaker said it is now aiming for “90 to 100 per cent of its global sales volume by 2030 to consist of electrified cars,” including a combination of EVs and plug-in hybrids, reported […]

    Norwegian and Finnish Companies to Run Vessel on Ammonia by 2026

    Norwegian and Finnish Companies to Run Vessel on Ammonia by 2026

    Norwegian shipowner Eidesvik and Wärtsilä, a Finland-based engine manufacturer, have signed a contract to make a platform supply vessel (PSV) that can run on ammonia fuel. Wärtsilä — the company supplying the equipment to convert the ship — said the Viking Energy vessel will be the first in the world to run on ammonia. “Together […]