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Add-on Device Makes Home Furnaces Cleaner, Safer and Longer-Lasting
GCC Economies Projected to Grow 6.9% in 2022, World Bank Says
Investing in green growth could drive regional GDP to $13tn by 2050, according to report.
QatarEnergy in Talks for 30% Stake in Lebanon Offshore Gas Project, Says CEO
State-owned QatarEnergy is in talks with the Lebanese government to take a 30% stake in an offshore exploration block and is also negotiating with TotalEnergies and ENI on this matter.
Emerson Sells Majority Stake in $14 Bln Climate Tech Unit to Blackstone - WSJ
U.S. industrial firm Emerson Electric Co is selling a majority stake in its climate-technologies unit to Blackstone Inc, in a deal that would value the unit at $14 billion including debt.
Octopus to Take Over Collapsed Supplier Bulb
Octopus will take on Bulb’s 1.5 million customers.
Exxon's Third-Quarter Record Profit Surges on Higher Energy Prices
The Texas-based company posted a net profit of $19.66bn for the three months to September 30.
Shell More Than Doubles Profits in Third Quarter
The company’s underlying profits reached $9.5 billion in the third quarter.
EIB Group Supports REPowerEU Plan With €30BN Financing
Package of new, targeted financing is expected to mobilise up to €115bn of new investment by 2027, contributing to ending energy dependency on Russia.
EU Gives 80 Mln Euro to N. Macedonia to Tackle Energy Crisis
The European Union pledged 80 million euros to North Macedonia to tackle energy crisis and it will help to build new generating capacities.
French Power Group EDF Issues New Profit Warning
EDF said on Thursday it now expected a hit to its core earnings of around 32 billion euros because of lower nuclear production,a bigger loss than the 29 billion euros reported in September.
TotalEnergies Clocks $9.9 Bln Profit in Q3, Books New Russian Impairment
TotalEnergies posted a sharp jump in its third quarter net profit compared with a year ago, as it joined other energy giants in its sector to have benefited from higher oil and gas prices, although it also booked a new Russia-related impairment.
Shell Posts $9.5 Bln Profit, Plans to Boost Dividend
Shell on Thursday posted a third-quarter profit of $9.45 billion, easing from the previous quarter's record high due to weaker refining and gas trading, as it announced plans to sharply boost its dividend by year end when its CEO departs.
High Energy Prices Force the World’s Largest Chemicals Company to Downsize
The world’s biggest chemicals company, Germany-based BASF, will seek permanent cost-saving measures in Europe due to the high energy prices endangering its competitiveness.
Net Zero Emission
Saudi Aramco Unveils $1.5BN Sustainability Fund
It will initially focus on sectors such as carbon capture and storage, hydrogen, greenhouse gas emissions and energy efficiency.
TotalEnergies Buys Stake in Brazilian Renewables JV
TotalEnergies and Brazillian developer Casa dos Ventos (CDV) have created JV to jointly develop, build and operate the latter's 12GW renewables portfolio.
Iberdrola Renewables Investment Rises
Iberdrola invested almost €8bn globally in the first nine months of 2022, an increase of 14%, with 90% of funding allocated to renewables and smart grids.
Europe’s Energy Crisis Heaps Pain on Heavy Industry
Makers of metals, chemicals and gases said on Tuesday that the outlook for the final months of the year had worsened as concerns intensify that a surge in energy and raw material costs will shrink Europe's heavy industry.
BlackRock Raises $4.5 Bln for Climate-Focused Infrastructure Fund
BlackRock Inc has raised $4.5 billion out of an overall $7.5 billion-target for a new fund to invest in infrastructure assets aimed at climate-focused projects.
U.S. Oil Companies’ Cash Flow to Rise by 68% Per Barrel in 2022 - Deloitte
U.S. upstream oil companies are expected to bank 68% higher free cash flows per barrel produced in 2022 as surging prices fuel profits, while output growth lingers at 4.5% year to date.
UK North Sea Firm Ithaca Energy Presses Ahead With London Listing
North Sea oil and gas producer Ithaca Energy said on Tuesday it was going ahead with its plans to list in London and was seeking admission of its ordinary to the premium listing segment of the official list of the Financial Conduct Authority.
New UK Prime Minister Sunak Faces Major Challenge With Energy Crisis
Sunak faces a set of unique challenges including a cost-of-living crisis and an energy crisis.
Ørsted to Sell 50% Stake in US Renewables Portfolio
Global wind project developer Ørsted has announced that it is selling a 50% ownership stake in a US portfolio to the investment group Energy Capital Partners.
Paris Climate Agreement
‘Oil and Gas Investments Could Finance Renewables Needed for 1.5°C’
The Paris Agreement could be achieved if money intended for new oil and gas fields was redirected into wind and solar, a study claims.
S.Africa's Energy Transition Plan Needs $46.5 Bln, Five Times Pledges - Sources
South Africa's plan to kick-start its transition from coal to renewable energy will need $46.5 billion, more than five times the $8.5 billion Western nations have pledged to the project over the next three to five years.
Net Zero Emission
U.S. EPA Begins Work to Set up $27 Bln Green Bank
The Environmental Protection Agency (EPA) on Friday began the process of designing a $27 billion green bank that will offer grants to disadvantaged communities around the United States to deploy low- or zero-emissions projects.
UK’s Lloyds Ditches Project Finance for New Oil and Gas Fields
Britain's biggest domestic bank Lloyds said on Thursday it would not support direct financing to develop new oil and gas fields, joining a small number of lenders to push back on funding expansion of the industry.
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Sungrow Signs 145 MW Distribution Agreements During Solar Pakistan 2023
Cleancapital Acquires 35 MW Distributed Solar Portfolio in New Jersey
Zimbabwe: Tanganda Tea Company Invests U.S.$8 Million in Solar Projects
Indonesian Utility PLN Seeks Equity Partners for Large Scale PV, Wind Projects
Sonelgaz Seeks EPC Contractors for Solar PV Tender
African Private Equity Firm, Inspired Evolution, Achieves Successful First Close of Its Third Evolution III Energy Transition Net-Zero Climate Impact Fund