The plan includes a levy on fossil fuel firms' surplus profits and a levy on excess revenues made from surging electricity costs. The cash raised is expected to go to families and businesses.

Cleaning up transport will help the world’s third-biggest emitter of greenhouse gases meet its target of becoming net carbon zero by 2070.

Diesel futures in New York are trading in the widest backwardation for this time of year in data going back to 2008, meaning the product in storage is losing value each day.

The European Union’s ban on Russian fuel imports is likely to actually increase the world’s need for oil tankers, according to vessel owner Torm A/S.

U.S. crude sales overseas are set to hit fresh records through next year as American oil increasingly takes market share in Europe.

The U.K. imported no fuel from Russia in June for the first time on record, with fuel imports falling by £499 million — or 100% — compared with the average for the previous 12 months to February.

Europe’s energy crisis is unleashing a global battle over liquefied natural-gas (LNG) tankers, with rates to charter the specialized ships jumping to record highs.

After years of pandemic-driven port congestion, supply chain bottlenecks and limited freight capacity, the Russian invasion of Ukraine turned what was already a tight fuel market into an energy crisis.

With average temperatures rising and heat waves become more frequent and intense, infrastructure and in particular roads are increasingly vulnerable to human-induced global warming.

Despite uncertainties, utility companies must continue to provide seamless and consistent services to their customers. In this environment, the role of procurement becomes even more critical.