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Slovenia’s capital will receive €3.5 million in EU support for fleet renewal, targeting cleaner air and lower emissions. The city will acquire three types of electric buses. Ljubljana is set to bolster its public transport system with the acquisition of 16 new battery-electric buses, backed by €3.5 million in funding from the European Regional Development Fund (ERDF). The initiative, part of Slovenia’s EU Cohesion Policy Programme 2021–2027, aims to enhance sustainable urban mobility and reduce the city’s carbon footprint. The €11.6 million project will see the introduction of six 18-metre articulated electric buses, five 12-metre standard electric buses, and five…

The comment from minister Rosan Roeslani follows confirmation last week that LG Energy Solution, or LGES, has withdrawn from another venture in Indonesia, a 142 trillion rupiah ($8.46 billion) project in the EV battery supply chain, citing market conditions and the investment environment. “The commitment from LG remains big, a concrete example is that they will invest in the development of this JV,” he told a press conference, referring to a battery plant in West Java. LG last week said it will continue its investment in a battery joint venture, HLI Green Power, led by LGES and Hyundai Motor Group.…

North America dropped four rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on April 25. Although the U.S. added a total of two rigs week on week, Canada’s overall rig count decreased by six during the same period, taking the total North America rig count down to 715, comprising 587 rigs from the U.S. and 128 from Canada, the count outlined. Of the total U.S. rig count of 587, 571 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and three are categorized as inland water rigs. The…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.BP said on Tuesday that profits had halved in the first quarter as it announced the departure of the head of strategy during its failed pivot to renewable energy. It was the third time in five quarters that the UK oil major missed analysts’ forecasts for adjusted profit, which fell 49 per cent year on year to $1.38bn after BP traders were hit by issues in the gas market. BP shares fell 2.4 per cent in London and have fallen 12.4 per…

Spain and Portugal were returning to some semblance of normality early Tuesday, with many questions remaining about what caused one of Europe’s worst blackouts in years across the Iberian peninsula the previous day. Spanish power supplies were back to nearly 100% capacity at around 7 a.m. in Madrid, and urban trains were slowly returning to regular service, according to operators.  Portugal said power has been restored for all users, and grid operator REN said the network is “perfectly stabilized.” Service had already returned to homes across large parts of greater Lisbon by Monday night.  As the search for answers continues,…

Indian refiners have been boosting US oil purchases before trade talks between the two nations next month.Around 11.2 million barrels of crude are set to arrive in India from the US in June, the highest volume since last August, according to provisional data from analytics firm Kpler Ltd. That comes after a drop in prices in the West Texas Intermediate benchmark as the result of lower demand because of a refinery overhaul in Singapore, along with reduced appetite in China — the world’s biggest oil importer. “WTI has to discount significantly more than usual to incentivize the rest of Asia…

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Emera Inc. and subsidiary Nova Scotia Power Inc. on Monday reported unauthorized access to parts of Emera’s Canadian network and servers supporting some of its business applications. A joint press release said the incident has not impacted Nova Scotia Power’s physical operations and Emera’s utilities in the United States and the Caribbean. However, Nova Scotia Power said on social media the cyber breach has impacted some of its phone lines and its online portal for customer account access. Its outage line, though, remains available for emergency calls, it said. “Unfortunately, while we work to bring systems back, there will be…

The US wants central and eastern European countries to join its path of “energy freedom” instead of following the wider region’s transition to a net zero economy, Energy Secretary Chris Wright said in Warsaw. The Energy Secretary told the Three Seas Business Forum – which numerous leaders from the region attended Monday – that western Europe chose the wrong path of expensive “top-down imposition of enforced climate policies.” He argued that renewables investments weigh on growth and boost revenues of foreign companies, and that eastern Europe should pick a different path. “Central Europe faces a time for choosing,” Wright told conference participants.…

TechnipFMC PLC has posted a revenue of $2.23 billion for the first quarter, up 9.4 percent year-on-year (YoY), while net income fell 9.6 percent YoY to $142 million. Included in total company results was a foreign exchange loss of $12.1 million, or $8.1 million after-tax, TechnipFMC said. Inbound orders during the quarter reached $3.08 billion, 11.3 percent up YoY, while total backlog hit $15.8 billion, 17.2 percent up YoY. “Total company revenue in the period was $2.2 billion. Adjusted EBITDA was $356 million when excluding foreign exchange impacts, an increase of 38 percent compared to the prior year. Free cash…