Consumer giant P&G warns of $1bn hit as energy costs ripple through economy
Procter & Gamble has warned higher oil prices could cost it $1bn in profits. Rising energy costs are pushing up prices for packaging, transport and raw materials. The impact is spreading beyond the energy sector into consumer goods. Companies may pass costs on to consumers, adding to inflation pressures. The global energy crisis is beginning […]
Canada approves major gas pipeline expansion to boost supply resilience
Canada has approved a $4bn expansion of Enbridge’s gas pipeline network. The project will add around 300 million cubic feet per day of capacity. The expansion reflects a continued push to strengthen energy security despite decarbonisation goals. The move also highlights the enduring role of gas in balancing energy systems. Canadian regulators have approved a […]
Siemens Energy lifts outlook as AI and electrification drive power demand boom
Siemens Energy has upgraded its growth outlook, citing surging demand from data centres and electrification. Sales are now expected to grow 14-16%, driven by strong orders for turbines and grid equipment. AI and digital infrastructure are emerging as major drivers of electricity demand. The trend underscores the need for massive investment in grids and generation […]
UK retail sales jump as motorists rush to fill up amid fuel price surge
UK retail sales rose 0.7% in March, driven largely by a surge in fuel purchases. Petrol sales jumped more than 6%, reflecting panic buying as prices spiked. The data highlights how quickly energy shocks feed into consumer behaviour and economic indicators. The boost is unlikely to signal underlying strength, masking broader cost-of-living pressures. UK retail […]
Energy crisis marks permanent shift away from fossil fuels, according to IEA
According to IEA executive director Fatih Birol, the global energy crisis triggered by the Iran conflict has permanently undermined the notion of fossil fuels as a reliable foundation for energy systems. Birol says the shock will accelerate investment in renewables, nuclear and electrification, with governments likely to prioritise domestic generation and resilience over global fuel […]