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Oil Field

Petrobras, Karoon Agree on Changes to Terms of $665 mln Sale of Baúna Field Stake

Under the new terms, Karoon is paying an initial $380 million to Petrobras, including a $49.9 million downpayment made on July 24.

Wind Farm

Repsol to Purchase 1.6GW of Renewable Assets in Chile

Repsol has agreed to form a joint venture (JV) with Grupo Ibereólica Renovables to manage a portfolio of renewable energy projects in Chile.

Energy Investment

Brazil’s Eneva Offers $1.4bn to Acquire Stake in AES Tiete

Brazilian power generation company Eneva has reportedly submitted an offer of a $1.44bn (BRL7.5bn) to acquire a controlling stake in AES Tiete Energia.

Thermal Plant

Wärtsilä to Deliver Dual Fuel and Storage Solution for Virgin Lslands Power plant

Wärtsilä will deliver engineering, construction, dual-fuel engines and energy storage capacity for a new power plant in the U.S. Virgin Islands.

Electricity Transmission

Iberdrola Slams UK’s Proposal for Lower Network Returns

Spanish utility Iberdrola's chief executive, Ignacio Galan, has strongly criticised UK energy regulator Ofgem's proposal to cut the allowed return on equity for…

Oil & Gas Trade

Kuwait Heavy Oil Output to Hit 75,000 b/d by September

State-owned KPC's upstream arm KOC has been ramping up production from the South Ratqa heavy oil field and expects to reach its phase one plateau target of 60,0…

Crude Oil

Indian Refinery Runs Edge Higher in June

Indian refining throughputs rose back above 4mn b/d in June in a partial recovery from the Covid-19 downturn, but remained well below year-earlier levels.

Energy Investment

Efficiency Companies Raise $858 Million In VC Funding In 1H 2020

Funding into Battery Storage and Efficiency companies was down in the first half of 2020

Oil Field

Shell Gets Green Light for Brent Alpha Jacket Decommissioning Plan

UK authorities have approved Shell’s decommissioning plan for the Brent Alpha jacket, located in the UK sector of the North Sea.

South Africa

Nyimpini Mabunda Named New CEO for General Electric in Southern Africa

Nyimpini Mabunda has been appointed Chief Executive Officer for Southern Africa for General Electric.

Microgrid

Cummins Gas-Fired Generator Selected for Aussie Gold Mine Microgrid

Cummins has installed one of its lean-burn gas generators for a microgrid project at an Australian gold mine.

Oil Price

Oil Prices Edges up on Weak Dollar, U.S.-China Tensions Weigh

Brent crude LCOc1 was up 26 cents at $43.57 a barrel at 0944 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was up 29 cents at $41.36.

Purohit New President Of Wärtsilä Energy

Sushil Purohit has been appointed president of Wärtsilä Energy, executive vice president, and member of the Board of Management of Wärtsilä Corp., effective…

A High-Class Digital Experience for the Global PV Community: EU PVSEC Goes Online

Be quick! The Early Bird deadline for the EU PVSEC 2020 is ending on 31 July. This is your last chance to benefit from highly discounted ticket prices for Europ…

Energy Investment

Minister Pun Urges Bangladesh to Invest in Nepal’s Hydropower

The government has urged the Bangladesh government and the private sector to invest in Nepal’s hydropower sector.