Uncertainty Reduces New Oil and Gas Investment
growth is no longer realistic," Fugro said, adding it saw the most significant impact in the oil and gas market, along with further softening of sentiment in offshore wind.Meanwhile, a U.S. judge ruled that Orsted can restart work on the nearly finished Revolution Wind project after President Donald Trump's administration halted the project last month. The halt had been costing developers more than $2 million per day.The effects of market uncertainty have been examined in a newly published study by researchers from the University of Oxford. They demonstrate a significant negative relationship
Russian Navy Holds Underwater Saboteur Drills in Baltic Sea
to destroy unmanned boats of a mock enemy", the ministry said.The drills were aimed partly at assessing the navy's anti-submarine sabotage defence units, it said.It was the second time this month that Russia has held naval exercises with an anti-submarine component, after U.S. President Donald Trump said on August 1 he had ordered two U.S. nuclear subs to take up positions closer to Russia.In the first week of August, the Russian and Chinese navies practiced hunting and destroying an enemy submarine in the Sea of Japan.The defence ministry published video of Russian navy commander Admiral
Tariffs Hit India Shrimp Farmers Hard
On India's southern coast, V. Srinivas thrived for two decades by farming shrimp, as the country became the top supplier of the delicacy to the United States. Now, Donald Trump's 50% tariff threat is forcing many to consider other ways of making money.Andhra Pradesh state sends the most shrimp from India to the U.S. and farmers there have spent millions of rupees (hundreds of thousands of U.S. dollars) over the years to cultivate high-quality shrimp in saline ponds.Now they are being hit hard as Indian exporters have slashed rates they offer farmers by almost 20% after the tariff shock, wiping
Europe Moves On as US Lets Science Slide
climate change and weather extremes, according to Reuters interviews.The effort - which has not been previously reported - marks the most concrete response from the European Union and other European governments so far to the U.S. government's retreat from scientific research under President Donald Trump's administration.Since his return to the White House, Trump has initiated sweeping budget cuts to the National Oceanic Atmospheric Administration, the National Institutes of Health, the Environmental Protection Agency, the Centers for Disease Control and other agencies, dismantling programs
Tsunami Waves Reach Hawaii Following Major Earthquake in Russia’s Far East
, Hawaii, Chile and the Solomon Islands, it said.Smaller waves were possible along coastlines across much of the Pacific, including the U.S. West Coast."Due to a massive earthquake that occurred in the Pacific Ocean, a Tsunami Warning is in effect for those living in Hawaii," U.S. President Donald Trump said in a social media post."A Tsunami Watch is in effect for Alaska and the Pacific Coast of the United States."'Ring Of Fire'Several people in Kamchatka sought medical assistance following the quake, Oleg Melnikov, regional health minister, told Russia’s TASS state news
Kongsberg Ramps Up Maritime Defense Production to Meet Growing Demand
& Aerospace business made up 54% of those, as CEO Geir Håøy said the company was experiencing record-high market activity in the sector.Many European nations have pledged to significantly increase defence budgets in response to Russia's invasion of Ukraine and as U.S. President Donald Trump's administration has threatened to scale back military support for the region.Kongsberg has opportunities to increase production in Norway and is building up capacity in Australia, Håøy said in a call with analysts and media. Later this year, it will also start building production
Trump to Wind Down FEMA After Hurricane Season
President Donald Trump said on Tuesday he planned to start "phasing out" the Federal Emergency Management Agency after the hurricane season and that states would receive less federal aid to respond to natural disasters.Trump also said he planned to distribute disaster relief funds directly from the president's office."We're going to do it much differently," Trump said in a briefing at the White House in response to a question about when he planned to eliminate FEMA and what his message was to governors regarding states bearing more disaster-relief costs."We're
Oceans Protection Treaty Could Take effect from January
change, by absorbing around 30% of planet-heating CO2 emissions. But as the oceans heat up, hotter waters are destroying marine ecosystems and threatening the oceans' ability to absorb CO2.The drive for nations to turn years of promises into meaningful protection for the oceans comes as President Donald Trump pulls the United States out of climate projects and as some European governments weaken green commitments as they seek to support anaemic economies and fend off nationalists.The United States has not yet ratified the treaty and will not do so during the conference, Rebecca Hubbard, director of
UN Oceans Conference: The High Seas Treaty
60 countries have ratified it. Work then begins on setting up institutions and committees to implement the treaty, while its signatories expect to hold a first conference within a year.Despite its involvement in the original treaty negotiations, the United States under current President Donald Trump is not expected to ratify the treaty.WHAT ELSE IS HAPPENING AT THE U.N. OCEANS CONFERENCE?Macron is co-hosting this third U.N. Oceans conference with Costa Rica, and with at least 55 heads of state, business leaders and civil society groups expected to attend the five-day event.Aside
August 2025
