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Wall Street Journal ($): To comply with a Dutch court order to cut carbon emissions, Royal Dutch Shell PLC may have to overhaul its business and cut its oil output faster than it had planned, analysts and investors said. Potential ways to curb emissions include selling assets, rethinking exploration spending and halting growth of its […]
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The Guardian: Oman is planning to build one of the largest green hydrogen plants in the world in a move to make the oil-producing nation a leader in renewable energy technology. Construction is scheduled to start in 2028 in Al Wusta governorate on the Arabian Sea. It will be built in stages, with the aim […]
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Bloomberg ($): The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out the market. Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new […]
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Wall Street Journal ($): SoftBank Group Corp. is selling its Delhi-based renewable-energy unit to an Indian rival, a step that effectively pulls the plug on what was once the world’s most ambitious solar investor. Adani Green Energy Ltd. said Wednesday it was buying SB Energy India in a deal that values the unit at $3.5 […]
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Arab News: ACWA Power, the utility developer backed by Saudi Arabia’s Public Investment Fund (PIF), on Monday announced it had started construction on South Africa’s largest ever renewable energy project. The Redstone concentrated solar power (CSP) plant begun construction after it raised 11.6 billion rand ($828 million) from a range of South African and international […]
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OilPrice.com: Within the last month, Saudi Arabia’s state oil giant Aramco has announced the sale of a minority—but large—stake in its pipeline business, the possibility to sell another 1 percent of its stock, and intentions to put up for sale stakes in some oil fields. Neighbor, ally, and fellow OPEC member UAE in the meantime, […]
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Reuters ($): Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as […]
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Saur Energy: Frost & Sullivan’s (F&S) recent analysis on the global grid battery energy storage market finds that the continual expansion of intermittent renewables (RE) and declining technology costs are key factors fueling the market. As more nations across regions commit to generate over 50 percent of power from renewable energy by 2030 and modernise […]
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PV Tech: French energy major Total has signed an agreement with Iraq’s Ministry of Oil to develop a host of energy projects in the country, including 1GW of solar PV. The agreement, which builds on discussions between Total and the Iraqi government that began in October last year, has seen the two entities agree on […]
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Utilities Middle East: Masdar and the Government of Ethiopia, are exploring the development of solar power projects with a total capacity of 500 megawatts (MW), along with the related grid infrastructure across Ethiopia. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Ahmed Shide, Ethiopia’s Minister of Finance, signed a Memorandum of Understanding (MoU) […]
IEEFA: Canadian assessment of LNG ‘rising tide’ would drown balance sheets in red ink
Hope springs eternal for Chinese demand but reality suggests bleak forecast for new projectsOctober 19, 2020 (IEEFA)— The Conference Board of Canada, an Ottawa-based research organization, has doubled down on a bad hand, according to an analysis by the Institute for Energy Economics and Financial Analysis. The Conference Board’s report, A Rising Tide: The Economic Impact of B.C.’s Liquified Natural Gas Industry, claims an expansion of the British […]