The 2,400MW Hassyan clean coal power station is an ultra-supercritical (USC) power plant being developed in Saih Shuaib, Dubai, United Arab Emirates. Upon completion, the project is set to be the first coal-based power plant in the region. Construction of the $3.4bn power plant commenced in November 2016. It will comprise four units of 600MW each, which are expected to start…
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The Federal Reserve took drastic action on Thursday as the stock market meltdown accelerated, pledging to inject as much as $1.5 trillion into U.S. markets to cull the growing panic sparked by the Coronavirus pandemic. The Fed noted in a statement, “These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,”…
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Several democratic presidential candidates have proposed fracking bans, but oil companies have room to breathe easily knowing that killing off fracking in the US is a bit too big of a bite for any political party to handle. But as environmental issues continue to remain front and center in the media, fracking has become a rather easy target that offers…
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After a brief respite following reports of central bank economic stimuli in the United States and the UK, crude oil slumped once again after on Wednesday, President Donald Trump instituted a 30-day travel ban on most European countries because of the coronavirus pandemic. At the time of writing Brent crude was trading down by more than 8 percent at $32.71…
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The world’s top oil exporter Saudi Arabia is going after Russia’s oil market share in Europe with deeply discounted Arab Light crude at up to three times the usual volumes, people with knowledge of European refiners’ operations told Bloomberg on Thursday. The Saudis, OPEC’s de facto leader and top producer, are aiming to grab market share from Russia in the…
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