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Xi Calls for Advancement of All-Round Cooperation with ASEAN
PG&E Wins Approval for $23 Billion Bankruptcy Financing Package
Power producer PG&E Corp (PCG.N) said on Monday that it won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition to those financing commitments.
Oil giant Saudi Aramco Sees 2019 Profits Drop 20% to $88.2B
Oil giant Saudi Aramco said Sunday its profits dropped 20% in 2019 to $88.2 billion, a sharp decline coming as the kingdom stands ready to flood an already-weakened global energy market amid the new coronavirus pandemic.
U.S. to Spend $50 Billion, Buy Oil Amid Virus Economic Pain
With the economy reeling, United States President Donald Trump on Friday, March 13, declared a national emergency to stem the damage from the coronavirus, unlocking $50 billion.
Poland Faces $15 Billion Nuclear Power Bill over 20 Years
Poland will have to spend 60 billion zlotys (12.2 billion pounds) on its planned nuclear power plants over the next 20 years, the Polish minister responsible for energy infrastructure Piotr Naimski said on Wednesday.
Slovakian Govt backs EUR-1bn EV Battery Gigafactory by InoBat
InoBat Auto, the Bratislava-based battery maker with plans for a 10-GWh plant, has secured funding from the Slovakian government for a research and development (R&D) facility.
Concerns Over £1.1bn Cross-Channel Power Link’s Impact on Proposed Sussex Windfarm
Concerns have been raised that the proposed £1.1bn Aquind Interconnector between the UK and France will impact the construction of a windfarm on the Sussex coast.
Saudi Economy Grows just 0.3% in 2019 as Oil Sector Shrinks
Saudi Arabia’s economy grew by a weaker-than-expected 0.3% in 2019 as the oil sector contracted sharply, official data showed on Sunday, although the non-oil sector accelerated.
Almost £4 million Raised for Company Behind MeyGen Project
SIMEC Atlantis Energy, the company behind the poineering MeyGen renewable energy project in the Pentland Firth, has raised almost £4 million in a successful bond issue.
Slovakia Launches First Renewables Auction
The ceiling price for solar and wind power has been set at €84.98/MWh. It is expected around 30 MW of generation capacity will be allocated and solar projects ranging in size from 100 kW to 2 MW will be entitled to participate.
Three Gorges Group Started 25 New Energy Projects with a Total Investment of 58billion CNY
The Three Gorges Group issued a mobilization order through a video conference in Beijing on February 24, announcing the commencement of construction of 25 new energy projects with a total installed capacity of 3.92 million kilowatts and a total investment
Teck Resources Drops Plans for $15.5bn Frontier Oil Sands Mine Project
The announcement comes just days ahead of a decision scheduled to be taken on the approval of the Frontier Oil Sands Mine Project by the Canadian cabinet.
China Starts to Reopen Gates to US Ethanol
China will offer tariff exemptions of nearly 700 types of goods from the US, including fuel ethanol, the Chinese government announced Tuesday, but traders are currently uncertain about its impact on future imports.
China’s Exim Bank Agrees $214m Loan for Rwandan Dam
A $214m concessionary loan has been agreed between the Export-Import Bank of China and the government of Rwanda for the Nyabarongo II dam, to be built by Chinese hydropower specialist Sinohydro
Trump's Agriculture Department Announces 30% Biofuel Goal for 2050
The U.S. Department of Agriculture on Thursday announced a goal for biofuels to make up 30% of U.S. transportation fuels by 2050, a move that could bolster an industry that has been otherwise battered by the Trump administration.
U.S. Sanctions Rosneft Unit for Ties to Venezuela Oil Production
The U.S. sanctioned a unit of Russia’s largest oil producer Rosneft PJSC for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA, according to U.S. government documents.
Asian Markets Fall as Coronavirus Hits Earnings, Growth
China is the world's biggest importer and consumer of oil, and crude prices have been particularly sensitive to the epidemic that has spread to nearly 30 countries and territories.
OPEC Underestimates the Virus
The Covid-19 virus is a human tragedy for many who have been affected by it and it’s having a profound impact on the lives of a large part of the Chinese population.
Libya's Oil Corporation: Blockade Losses Exceed $1.3 Billion
Economic fallout continues from the shutdown of Libya’s vital oil fields, with losses surpassing $1.3 billion, the national oil corporation announced Tuesday.
EDF Group Acquires 50% Interest in Irish Offshore Windfarm Project
The EDF Group has acquired a 50% interest in an offshore wind farm project in Ireland from wind energy company Hazel Shore.
US budget Request includes USD150 million for Uranium Reserve
The US Administration's 2021 budget request unveiled yesterday by President Donald Trump includes USD150 million to set up a uranium reserve to address challenges to the production of domestic uranium.
Russian Oil & Gas Firms Plan to Invest $20 BILLION in Iraq’s Energy Industry
Russian oil and gas companies could triple their investments in Iraq in the near future, Yury Fyodorov, first deputy chairman of the Economic Policy Committee at the Russian Federation Council, has announced.
'Hypocrisy' : 90% of UK-Africa Summit’s Energy Deals Were in Fossil Fuels
More than 90% of the £2bn in energy deals struck at this week’s UK-Africa investment summit were for fossil fuels, despite a government commitment to “support African countries in their transition to cleaner energy”.
DOE Secretary Says Coronavirus Unlikely to Hurt Energy Markets in Near Term
US Energy Secretary Dan Brouillette played down the effect that a coronavirus outbreak in China would have on energy markets, describing the impact as "marginal" even as worry over a slowdown in Chinese LNG demand...
The Brazilian Bioenergy Firm to help Zambia Develop the Biofuel Industry
The Brazilian Bioenergy, Ethanol and Sugarcane Association has pledged to support Zambia with technological advancements in its quest to develop the Biofuel Industry.
Siemens Gamesa Swings to Loss and Cuts Guidance
Siemens Gamesa Renewable Energy SA said Tuesday that it swung to a loss in the first quarter of its fiscal 2020 due to project delays, and lowered its full-year guidance.
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Xi Calls for Advancement of All-Round Cooperation with ASEAN
European Union Increases Funding for Renewables Growth in Nigeria
Japan Launches First Fixed Bottom Offshore Wind Auction
JinkoSolar to Sell Interest in Sweihan Solar to Jinko Power HK
Australia’s Government Invests AU$125m Towards Grid Infrastructure for Snowy 2.0 Pumped Hydro
Hong Kong Group Sets up Asia Clean Power Fund