Energy economy

United Kingdom

ExxonMobil to Cut European Workforce By 1600

Global energy company ExxonMobil has announced that it will reduce the number of its workers across its businesses in Europe.

Energy Investment

China’s Clean Energy Plan Could Cost It $5 Trillion

China’s plan to reach carbon neutrality by 2060 could end up costing it $5 trillion.

Electricity Trade

Indonesia’s Power Sector is Open for Business

The final episode in Enlit Asia’s digital series Indonesia’s New Energy Paradigm did not disappoint, as the expert panel delved into how the country’s energy…

Energy Investment

Eurpoean Bank Supports Upgrade of Electricity Network in Hungary

The European Investment Bank has announced support for the upgrade and expansion of the electrical power network in south-eastern Hungary.

Iberdrola Announces New €1.5bn Renewables Investment Plan

Spanish multinational utility Iberdrola has announced that it plans to triple its renewable energy capacity in Andalusia within the next five years.

Libya

Easy Solar Closes $5m to Scale-Up Energy Access in West Africa

Easy Solar has closed $5m to scale-up energy access in Sierra Leone and Liberia.

United Kingdom

Europe Announces First-Ever Renewable Energy Institute

The European Energy Centre has been awarded Institute status by the UK Government following the distinguished work in providing accredited Renewable Energy trai…

Electricity Trade

NextEra Energy to Acquire Power Transmission Company GridLiance

NextEra Energy Transmission has signed an agreement to acquire US-based independent power transmission company GridLiance.

Energy Investment

Total Drives Green Strategy With €500m Zero-Crude Project

As part of its net zero strategy, global energy company Total will invest €500 million into converting its Grandpuits refinery in Seine-et-Marne, France, into …

Vietnam

Vietnam Requires $133.3bn in Power Investment By 2030

Vietnam will need an investment of $133.3bn in its power industry to meet its increasing electricity demand.

Offshore Wind Power

House Backs Jones Act Enforcement for US Offshore Wind

The US House of Representatives has passed an amendment to the Clean Economy Jobs and Innovation Act that enforces Jones Act requirements for all offshore renew…

Siemens Energy Listing on Stock Exchange ‘Marks New Era’

Siemens Energy today started trading on the Frankfurt Stock Exchange, with the opening share price quoted at €22,01, corresponding to a market capitalization o…

Oil & Gas Trade

BPCL Pays for Defaulting Videocon in Brazil Oil Block

State-owned Bharat Petroleum Corp Ltd has been forced to pay for its defaulting partner Videocon Industries Ltd after it had relied on a rarely used model to ac…

Hydropower Plant

Nigeria: FG Sinks $5.8bn in Mambilla Hydropower Project

The Federal Government has said that it has so far spent about $5.8 billion on the 40-year-old Mambilla Hydroelectric Power project.

Energy Investment

Canadian Government Commits C$320 Million to Aid Offshore Oil Industry

Canada will spend C$320 million to support its offshore oil industry, which has struggled as coronavirus pandemic travel restrictions reduced demand.