Britain’s oil industry is in a “crisis” and may be “close to collapse,” a senior oil industry expert has said, as the UK’s biggest oil and gas companies continue to cut staff and investment and the price of crude slumps.
The Keystone XL pipeline may no longer make economic sense to build, thanks to falling global oil prices. However, Canada's natural resources minister is in Washington to push hard for the project’s construction.
Investors from Abu Dhabi have secured a deal to purchase the iconic Scotland Yard building in St James’s Park. The building, which has housed the Metropolitan Police Service since 1964, sold for a reported £370 million.
One of Britain’s largest construction firms has been linked to severely sub-standard working conditions for migrants in Qatar. Over 1,000 foreign workers perished in the Gulf state between 2012 and 2013, a government report shows.
Britain’s relationship with Somalia has come under scrutiny after a report detailing corruption in the east African nation was published by the UN. The Security Council report claims Somalia has traded arms with Islamist militants.
Russia’s Sayano-Shushenskaya hydroelectric power plant, one of the world’s most powerful, has resumed operations at planned capacity after completion of repairs and will provide stable energy supplies across Siberia for at least the next 40 years.
China’s Solar Systems may become the largest investor in the Russian solar power industry. The company plans to construct a plant for the production of solar panels in Russia’s Tatarstan Republic next year.
As smartphones have revolutionized personal communication, German industry is looking to smart factories to improve the country’s industrial output. Leading the charge is conglomerate Siemens, and a facility in the small town of Amberg.
While construction of a building might take years and be boring to watch, the demolitions are a spectacular sight. Building implosions have proven to be so popular, they often get turned into a show or go viral on the internet.
Manhattan’s One Percenters will now have one more type of real estate investment that the have-nots of the world could never hope to afford: $1 million parking spaces. The spots for sale cost more per square-foot than the luxury building’s apartments do.
The Australian government is pondering a new plan for disposal of waste from expanding the country’s port of Abbot Point, which would see the dredged mud and sand reused on land instead of being dumped by the Great Barrier Reef, as was initially planned.