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Energy economy
Oil Price
China Petrol Shares Positive Start to Year of the Tiger
Chinese shares performed strongly on the first trading day of the Year of the Tiger, reversing the slumps before the Chinese New Year holiday.
Crude Oil
Continental to Boost Oil Output by a Third in 2022
Continental Resources expects to increase oil output by as much as one third this year after snapping up assets in the Permian basin.
Saudi Arabia
Aramco Shares Switch May Boost Saudi Renewables
Saudi Aramco, the world's largest oil-exporting company, transferred 4% of its shares to the kingdom's Public Investment Fund, which is expected to use the proc…
Distributed energy
Insurance Guarantee Instruments for African Energy Sector
The Norwegian Agency for Development Cooperation (NORAD) will provide grant funding to the African Trade Insurance Agency (ATI) of $56million over the next five…
Distributed energy
Australia Awards $451k to Boost Distributed Energy in Low Voltage Areas
The Australian Renewable Energy Agency (ARENA) has announced funding worth AUD$451,167 (£239,243) for a demonstration project to boost the use of home solar po…
Nearly 20% of Scottish Firms ‘Expect to Reduce Operations Due to Rising Energy Prices’
One-in-five businesses in Scotland expect to reduce operations this year due to the increase in energy prices.
Energy Transition
RWE to Spend €15bn on German Decarbonisation Portfolio
German utility RWE has announced a plan to invest €15 billion ($17.1 billion) to expand its portfolio of green energy in a move to accelerate the energy transi…
Solar Power Plant
Iberdrola Adds 86MW to Portuguese Renewables Business
Spanish multinational utility Iberdrola is expanding its renewable energy business in Portugal by kickstarting the development of four clean energy projects.
France
France Remains Europe’s Biggest Power Exporter Despite Winter Imports
France maintained its position as the biggest net exporter of power in Europe in the second half of 2021, despite an extreme reliance on imports at the beginnin…
Hydropower Plant
Investments in Hydro Set to Increase in 2022 Says New Research
Hydropower capacity in 2022 is set to exceed 1200GW and investments will climb to $36.3 billion, new research from Rystad Energy has suggested, with hydro set t…
Sumitomo Electric Secures US$200M Worth 400 kV High-Voltage Direct Current Submarine Cable Project in UAE
Sumitomo Electric Industries, Ltd. has received a limited notice to proceed (LNTP) from Samsung C&T Corporation to deliver a high-voltage direct current (HVDC) …
Offshore Wind Power
UK to Hold Yearly Contracts for Difference Auctions from 2023 Onwards
The UK government will increase the frequency of auctions for funding through the Contracts for Difference (CfD) scheme to every year rather than every two year…
Siemens Reports “Solid Performance” for Gas and Power
Siemens announced its results for the first quarter of fiscal year 2022 that ended Dec. 31, 2021.
Crude Oil
U.S. Crude Output to Rise 770,000 bpd in 202R
U.S. crude oil output is expected to rise 770,000 barrels per day to 11.97 million bpd in 2022, the government said in a monthly forecast on Tuesday.
Crude Oil
Mexico Slashes Oil Exports to India
Mexico, which was one of the top-ten oil suppliers to India last year, has drastically cut its crude exports to the Asian consumer so far this year.
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