A view of fjords as they melt due to climate change near Svalbard Islands, in the Arctic Ocean in Norway on July 19, 2022.
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The Norwegian government is calling on energy giants to ramp up oil and gas exploration projects in remote regions like the Arctic Barents Sea, defying a sense of palpable frustration among climate campaigners as the Nordic country seeks to shore up its position as Europe’s largest gas supplier.
The rethink in strategy comes as Norway strives to keep up with growing demand for its energy exports in the wake of Russia’s full-scale invasion of Ukraine.
Norway last year overtook Russia as Europe’s biggest natural gas supplier and says it is now seeking to maintain Europe’s energy security by exploring the Barents Sea for further resources.
Speaking in the town of Hammerfest late last month, Norway’s Petroleum and Energy Minister Terje Aasland reportedly said that the industry should “leave no stone unturned” in their pursuit for fresh hydrocarbon discoveries in the Barents Sea.
Aasland even described this policy as the oil and gas industry’s “social responsibility,” according to Bloomberg, saying undiscovered resources could help to maintain the country’s future production levels.
Norway oil and gas giant Equinor and Vår Energi, one of the country’s largest exploration and production companies, confirmed to CNBC that the minister recently issued this call.
A spokesperson for Norway’s petroleum and energy ministry, meanwhile, said that the message to energy giants was “to explore all economic oil and gas resources within the available areas, including in the Barents Sea.”
Norway has pumped oil and gas from its continental shelf, a relatively shallow section of seabed off its coast, for more than 50 years and it currently has several oil and gas fields either in production or under development.
Oil drilling in the Arctic is like pouring gasoline on a fire.
Frode Pleym
Head of Greenpeace Norway
It is estimated that roughly two-thirds of the country’s undiscovered oil resources lies off the country’s northern coast in the Arctic’s Barents Sea. And yet, the desire among energy companies to explore the Barents Sea for oil and gas has been relatively subdued in recent years, in part due to high costs and limited opportunities to export gas to markets.
At the start of the year, however, Norway said it planned to offer energy firms a record number of oil and gas exploration blocks in the Arctic.
Environmental campaigners at Friends of the Earth Norway, WWF-Norway and Greenpeace Norway have described the country’s lobbying for continued oil and gas expansion as “embarrassing,” “extremely reckless” and “a middle finger to the Paris Agreement.”
“Oil drilling in the Arctic is like pouring gasoline on a fire,” Frode Pleym, head of Greenpeace Norway, told CNBC via email.
“Both Norway and the oil corporations need to stop cynically exploiting Russia’s war in Ukraine,” Pleym said. “The aggressive and greedy oil policy of Norway do not only consolidate Oslo’s position as a top energy supplier to Europe, it locks a whole continent into future dependency on fossil fuels. The alternative to oil and gas is not more oil and gas, it is more energy efficiency and renewable energy.”
The burning of fossil fuels, such as coal, oil and gas, is the chief driver of the climate crisis.
‘We want to explore for more’
Norway has been one of the world’s top crude producers for the past half-century thanks to its gigantic North Sea petroleum deposits — the spoils of which have been used to provide a robust safety net for current and future generations.
Oil and gas companies believe the Barents Sea can play an important role in ensuring the long-term market access for gas, noting the development of the resources in this area should fit within the EU’s Arctic policy.
A spokesperson for Equinor told CNBC that the company hoped to see “new attractive acreage in the Barents Sea.” They added, “we want to explore for more and we think we will find more.”
Responding to the environmental concerns of Arctic oil and gas drilling, a spokerson at Equinor said, “We have a long track record of offshore operations in harsh environments with high standards on safety, security and sustainability.”
“We know the Barents region well and work together with the authorities to plan and execute our operations in a sustainable way with as little as possible impact on the environment.”
A LNG ship is pictured at the island Melkoya where Norwegian energy giant Equinor has built a facility for receiving and processing natural gas from the Snøhvit field in the Barents Sea.
Fredrik Varfjell | Afp | Getty Images
The Norwegian Petroleum Directorate, the government agency responsible for the regulation of petroleum resources, recently lamented the lack of exploration in the Barents Sea, saying its calculations show that such activity “is profitable in all ocean areas.”
Separately, a mid-April study from gas infrastructure operator Gassco said building a pipeline to transport gas produced in the Arctic Barents Sea could be worth re-examining due to the country stepping up its gas exports to Europe.
A spokesperson for Vår Energi described the Barents Sea as a strategic hub for oil and gas drilling, one that provides a “manageable, ice-free” part of the Arctic with weather and climate conditions like other parts of the Norwegian Continental Shelf.
It is for this reason, Vår Energi says, that the Barents Sea should not be compared to other Arctic regions characterized by harsher conditions, adding that the company abides by strict environmental regulations.
Climate campaign groups refute this logic, warning that any oil spill in this area would spell disaster to the rich but acutely vulnerable ecosystems and marine life.
‘A strong basis to lead on climate policy’
“Russia’s war against Ukraine does not justify a further push for Arctic oil and gas, as it can take around 15 years to go from exploration to production,” Truls Gulowsen, leader of Friends of the Earth Norway, told CNBC.
“Norway is making a huge profit off energy prices in Europe and few countries have such a strong basis to lead on climate policy,” Gulowsen said.
Ragnhild Waagaard, climate and energy lead in WWF-Norway, said it is understandable governments want to address the energy crisis and high energy costs causing real hardship for many people but warned that doubling down on fossil fuels will not help.
“Countries should rapidly boost their uptake of renewable energy, increase energy efficiency and reduce demand for energy. The choices we make now, and the way governments respond to the evolving energy crisis, will determine whether we succeed or fail,” Waagaard said.
BMW Motorrad’s futuristic electric scooter just got its first real refresh since beginning production in 2021. The BMW CE 04, already one of the most capable and stylish electric maxi-scooters on the market, now gets a set of upgraded trim options, new aesthetic touches, and a more robust list of features that aim to make this urban commuter even more appealing to riders looking for serious electric performance on two wheels.
The BMW CE 04 has always stood out for its sci-fi styling and high-performance drivetrain. It’s built on a mid-mounted liquid-cooled motor that puts out 31 kW (42 hp) and 62 Nm of torque. That’s enough to rocket the scooter from 0 to 50 km/h (31 mph) in just 2.6 seconds – quite fast for anything with a step-through frame.
The top speed is electronically limited to 120 km/h (75 mph), making it perfectly capable for city riding and fast enough to hold its own on highway stretches. Range is rated at 130 km (81 miles) on the WMTC cycle, thanks to the 8.9 kWh battery pack tucked low in the frame.
But while the core performance hasn’t changed, BMW’s 2025 update focuses on refining the package and giving riders more options to tailor the scooter to their taste. The new CE 04 is available in three trims: Basic, Avantgarde, and Exclusive.
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The Basic trim keeps things clean and classic with a Lightwhite paint scheme and a clear windshield. It’s subtle, sleek, and very much in line with the CE 04’s clean-lined aesthetic. The Avantgarde model adds a splash of color with a Gravity Blue main body and bright São Paulo Yellow accents, along with a dark windshield and a laser-engraved rim. The top-shelf Exclusive trim is where things get fancy, with a premium Spacesilver metallic paint job, upgraded wind protection, heated grips, a luxury embroidered seat, and its own unique engraved rim treatment.
There are also a few new tech upgrades baked into the options list. Riders can now spec a 6.9 kW quick charger that reduces the 0–80% charge time to just 45 minutes (down from nearly 4 hours with the standard 2.3 kW onboard charger). Tire pressure monitoring, a center stand, and BMW’s “Headlight Pro” adaptive lighting system are also available as add-ons, along with an emergency eCall system and Dynamic Traction Control.
BMW has kept the core riding components in place: a steel-tube chassis, 15-inch wheels, Bosch ABS (with optional ABS Pro), and the impressive 10.25” TFT display with integrated navigation and smartphone connectivity. The under-seat storage still swallows a full-face helmet, and the long, low frame design means the scooter looks like something out of Blade Runner but rides like a luxury commuter.
With these updates, BMW seems to be further cementing the CE 04’s role at the high end of the electric scooter market. It’s not cheap, starting around €12,000 in Europe and around US $12,500 in the US, with prices going up from there depending on configuration. However, the maxi-scooter delivers real motorcycle-grade performance in a package that’s easier to live with for daily riders.
Electrek’s Take
I believe that the CE 04’s biggest strength has always been that it’s not trying to be a toy or a gimmick. It’s a real vehicle. Sure, it’s futuristic and funky looking, but it delivers on its promises. And in a market that’s still surprisingly sparse when it comes to premium electric scooters, BMW has had the lane mostly to itself. That may not last forever, though. LiveWire, Harley-Davidson’s electric spin-off brand, has teased plans for a maxi-scooter-style urban electric vehicle in the coming years, but as of now, it remains something of an undefined future plan.
Meanwhile, BMW is delivering not just a concept bike but a mature, well-equipped, and ready-to-ride electric scooter that keeps improving. For riders who want something faster and more capable than a Class 3 e-bike but aren’t ready to jump to a full-size electric motorcycle, the CE 04 hits a sweet spot. It delivers the performance and capability of a commuter e-motorcycle, yet with the approachability of a scooter. And with these new trims and upgrades, it’s doing it with even more style.
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If you’ve ever wondered what happens when you combine a fruit cart, a cargo bike, and a Piaggio Ape all in one vehicle, now you’ve got your answer. I submit, for your approval, this week’s feature for the Awesomely Weird Alibaba Electric Vehicle of the Week column – and it’s a beautiful doozie.
Feast your eyes on this salad slinging, coleslaw cruising, tuber taxiing produce chariot!
I think this electric vegetable trike might finally scratch the itch long felt by many of my readers. It seems every time I cover an electric trike, even the really cool ones, I always get commenters poo-poo-ing it for having two wheels in the rear instead of two wheels in the front. Well, here you go, folks!
Designed with two front wheels for maximum stability, this trike keeps your cucumbers in check through every corner. Because trust me, you don’t want to hit a pothole and suddenly be juggling peaches like you’re in Cirque du Soleil: Farmers Market Edition.
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To avoid the extra cost of designing a linked steering system for a pair of front wheels, the engineers who brought this salad shuttle to life simply side-stepped that complexity altogether by steering the entire fixed front end. I’ve got articulating electric tractors that steer like this, and so if it works for a several-ton work machine, it should work for a couple hundred pounds of cargo bike.
Featuring a giant cargo bed up front with four cascading fruit baskets set up for roadside sales, this cargo bike is something of a blank slate. Sure, you could monetize grandma’s vegetable garden, or you could fill it with your own ideas and concoctions. Our exceedingly talented graphics wizard sees it as the perfect coffee and pastry e-bike for my new startup, The Handlebarista, and I’m not one to argue. Basically, the sky is the limit with a blank slate bike like this!
Sure, the quality doesn’t quite match something like a fancy Tern cargo bike. The rim brakes aren’t exactly confidence-inspiring, but at least there are three of them. And if they should all give out, or just not quite slow you down enough to avoid that quickly approaching brick wall, then at least you’ve got a couple hundred pounds of tomatoes as a tasty crumple zone.
The electrical system does seem a bit underpowered. With a 36V battery and a 250W motor, I don’t know if one-third of a horsepower is enough to haul a full load to the local farmer’s market. But I guess if the weight is a bit much for the little motor, you could always do some snacking along the way. On the other hand, all the pictures seem to show a non-electric version. So if this cart is presumably mobile on pedal power alone, then that extra motor assist, however small, is going to feel like a very welcome guest.
The $950 price is presumably for the electric version, since that’s what’s in the title of the listing, though I wouldn’t get too excited just yet. I’ve bought a LOT of stuff on Alibaba, including many electric vehicles, and the too-good-to-be-true price is always exactly that. In my experience, you can multiply the Alibaba price by 3-4x to get the actual landed price for things like these. Even so, $3,000-$4,000 wouldn’t be a terrible price, considering a lot of electric trikes stateside already cost that much and don’t even come with a quad-set of vegetable baskets on board!
I should also put my normal caveat in here about not actually buying one of these. Please, please don’t try to buy one of these awesome cargo e-trikes. This is a silly, tongue-in-cheek weekend column where I scour the ever-entertaining underbelly of China’s massive e-commerce site Alibaba in search of fun, quirky, and just plain awesomely weird electric vehicles. While I’ve successfully bought several fun things on the platform, I’ve also gotten scammed more than once, so this is not for the timid or the tight-budgeted among us.
That isn’t to say that some of my more stubborn readers haven’t followed in my footsteps before, ignoring my advice and setting out on their own wild journey. But please don’t be the one who risks it all and gets nothing in return. Don’t say I didn’t warn you; this is the warning.
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The OPEC logo is displayed on a mobile phone screen in front of a computer screen displaying OPEC icons in Ankara, Turkey, on June 25, 2024.
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Eight oil-producing nations of the OPEC+ alliance agreed on Saturday to increase their collective crude production by 548,000 barrels per day, as they continue to unwind a set of voluntary supply cuts.
This subset of the alliance — comprising heavyweight producers Russia and Saudi Arabia, alongside Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates — met digitally earlier in the day. They had been expected to increase their output by a smaller 411,000 barrels per day.
In a statement, the OPEC Secretariat attributed the countries’ decision to raise August daily output by 548,000 barrels to “a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories.”
The eight producers have been implementing two sets of voluntary production cuts outside of the broader OPEC+ coalition’s formal policy.
One, totaling 1.66 million barrels per day, stays in effect until the end of next year.
Under the second strategy, the countries reduced their production by an additional 2.2 million barrels per day until the end of the first quarter.
They initially set out to boost their production by 137,000 barrels per day every month until September 2026, but only sustained that pace in April. The group then tripled the hike to 411,000 barrels per day in each of May, June, and July — and is further accelerating the pace of their increases in August.
Oil prices were briefly boosted in recent weeks by the seasonal summer spike in demand and the 12-day war between Israel and Iran, which threatened both Tehran’s supplies and raised concerns over potential disruptions of supplies transported through the key Strait of Hormuz.
At the end of the Friday session, oil futures settled at $68.30 per barrel for the September-expiration Ice Brent contract and at $66.50 per barrel for front month-August Nymex U.S. West Texas Intermediate crude.