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Guest Commentary: Gerard Kreeft
Shows how to pivot from an oil company to an energy company
Last summer, French oil and gas giant Total SE announced a $7 billion impairment charge for two Canadian oil sands projects. This might have seemed like an innocuous move, merely an acknowledgement that the projects hadn’t worked out as planned. Yet it opened a Pandora’s box that could change the way the industry thinks about […]
IEEFA
H2 View: Thyssenkrupp Uhde Chlorine Engineers’ Green Hydrogen product division will install an 88-megawatt (MW) water electrolysis plant, capable of producing 11,100 metric tonnes of green hydrogen annually, for Canadian energy company Hydro-Québec. Announcing the contract today (18th Jan), Thyssenkrupp said the plant is to be located in Varennes, Québec, and will be one of […]
IEEFA
S&P Global Market Intelligence ($): The Canada Infrastructure Bank has agreed to help Six Nations of the Grand River Development Corp. and NRStor Inc. develop the nation’s largest electricity storage facility. The Oneida Energy Storage project would have capacity of 250 MW/1,000 MWh to provide backup power in southwestern Ontario, according to a press release […]
IEEFA
Bloomberg: Desjardins Group, the largest financial co-operative in North America, said it will almost completely stop financing companies in the coal industry. The Canadian co-op said it won’t provide investments, loans or underwriting for businesses that operate or develop coal mines, plants or infrastructure, according to a statement posted on Friday. It may still work […]
Press Release, Suzanne Mattei and Tom Sanzillo
Commission’s 21-year-old pipeline policy puts contracts ahead of utility customers
December 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]
IEEFA
Reuters: Lloyd’s of London is scaling back its exposure to coal and oil sands, the commercial insurance market said in its first sustainability report on Wednesday, in a reversal of its traditional hands-off approach to climate change strategy. Lloyd’s acts as regulator for around 100 syndicate members, and leaves decisions on underwriting and investment strategy […]
Guest Commentary: Gireesh Shrimali and Guest Commentary: Abhinav Jindal
An economic proposition for coal dominant developing countries
Worldwide, coal plants are grappling with environmental issues and low capacity utilization levels. They have not only become unprofitable to utilities, they are also uneconomical to customers. While retiring end-of-life coal plants can overall be very beneficial, and indeed necessary as finance continues to exit the fossil fuel sector driven by the global energy transition, […]
Trista Rose
Stock market listing slated for 8 December
Coal port operator Dalrymple Bay Infrastructure (DBI) will commence trading on the Australian Stock Exchange (ASX) on Tuesday 8 December. Under the offer, present owner Brookfield Asset Management (Brookfield) is seeking to raise at least A$656 million, equating to a market value (for 100% of the equity) of A$1.3 billion. If defensible, the valuation would […]
IEEFA
Bloomberg: Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry. BMO said it has made “the financial decision for an orderly wind-down of our non-Canadian investment and corporate […]
IEEFA
Bloomberg: Exxon Mobil Corp. is about to incur the biggest writedown in its modern history as the giant U.S. oil and gas producer reels from this year’s collapse in energy prices. Exxon — traditionally far more reluctant to cut the book value of its business than other oil majors — on Monday disclosed it will […]
IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs
Commission’s 21-year-old pipeline policy puts contracts ahead of utility customersDecember 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]