ENERGY

Authored by Tsvetana Paraskova via OilPrice.com,

The Swiss National Bank (SNB) was urged to divest from oil and gas fracking companies on Monday, when climate activists handed over a petition signed by 60,000 people demanding the Swiss central bank exit its fracking investments.    

Last month, a study by SNB Coalition and Climate Alliance Switzerland showed that the Swiss bank had investments worth a total of $16.1 billion in fossil fuel companies.   (more…)

Oil prices were higher again this morning (3rd day in a row, at two week highs) as traders and shippers braced for the prospect of more disruptions in the Red Sea.

The escalated geopolitical risks have introduced a premium to an oil market plagued by skepticism that OPEC+ will adhere to production cuts and concerns that supplies from outside the cartel are increasing, especially from the US. Some of that concern has been tempered by wagers that global central banks will embark on a (more…)

Authored by EurasiaNet via OilPrice.com,

• The modernization, costing $65 million, will be carried out by Rustatom Service JSC, a Rosatom subsidiary.

• Metsamor NPP, contributing 31% of Armenia's electricity, will be upgraded to operate until 2036 before decommissioning.

• Amid political efforts to diversify alliances, Armenia remains heavily reliant on Russia for energy, with Russia supplying most of its gas and all uranium for the nuclear plant.

On December 15, (more…)