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Market Analysis

Nuclear Energy will Require '€20 billion per year' Until 2050

Nuclear power will play a "fundamental role" in meeting Europe's energy demands, said EU Internal Market Commissioner Thierry Breton to French newspaper Journal…

Oil Field

ExxonMobil Announces Two New Oil Discoveries In Guyana

ExxonMobil has made two more discoveries in the Stabroek block offshore Guyana, which add to the previously announced 10 billion oil-equivalent barrels recovera…

Power Cable

Jan De Nul Lands Its Biggest Cable Deal for $3.6bln Middle Eastern Project

Jan De Nul and Samsung C&T consortium has secured a contract, regarded as the biggest cable installation contract in Jan De Nul’s history, to deliver an HVDC c…

Coal-Fired Power Plants

Japan's Shikoku Electric Buys 15% Stake in Coal Power Plant Project in Vietnam

Japan's Shikoku Electric Power Co Inc has announced that it had invested more than 10 billion yen to buy a 15% stake in the Vung Ang 2 coal-fired power plant pr…

Energy Investment

EGYPT: Al-Nowais to Invest $1bn in Solar and Wind Farms

UAE-based investment company Al Nowais intends to invest $1 billion to develop two solar and wind farms in Egypt.

Oil&Gas Drilling

Global Oil And Gas Discoveries Set To Hit 75-Year Low In 2021

As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent

Energy Investment

China Three Gorges Plans to Pour $6.47 Billion Into Three New Wind Farms

China Three Gorges Corp. plans to invest nearly 41.2 billion yuan in building three offshore wind farms in southeastern China’s Guangdong province, the state-o…

Energy Storage System

Doosan Heavy Industries & Construction to Build ESS in Australia

Doosan Heavy Industries & Construction (DHIC) announced on Dec. 15 that it will build an energy storage system worth 110 billion won in Australia along with its…

LNG

Mozambique Makes Gains Against Militants Disrupting TotalEnergies’ LNG Project

Mozambique has made gains against Islamic State-linked insurgents who disrupted the southeast African nation’s multibillion gas project, according to President…

Oil Price

Iran Bases Its 2022 Budget on $60 oil

The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year.

Electric Vehicle Battery

LG Energy Solution and GM Considering Building 3rd Joint Venture Battery Factory in Michigan

LG Energy Solution and General Motors of the United States are considering investing US$2 billion to build their third joint venture battery cell plant in the U…

Electric Car

EU Approves €3 billion Spanish Scheme to Support Electric Vehicles

The European Commission has approved, under EU State aid rules, a €3 billion Spanish scheme to support research, development and innovation, as well as environ…

Romania

OMV Petrom to Install 1 GW of Renewables in Romania by 2030

In its EUR 11 billion investment plan for the current decade, OMV Petrom earmarked more than 35% for low and zero carbon opportunities.

Natural Gas

Saudi Aramco, BlackRock Sign $15.5 billion Gas Pipeline Deal

Saudi Aramco said it has signed a $15.5 billion lease and leaseback deal for its gas pipeline network with a consortium led by BlackRock Real Assets and Hassana…

Energy Investment

Woodside to Invest $7b in Emerging Energy

Oil and gas supplier Woodside will invest $7 billion in low carbon energy by 2030 while still benefiting from a recently-announced merger with BHP's petroleum b…