Economy

Energy Technology

German Oil Refinery to Build 30 MW Hydrogen Electrolysis Plant

Germany agreed a national hydrogen strategy to help decarbonise the economy, including providing 9 billion euros to help promote new projects.

Germany

EnBW Soars on Stellar Renewables Return

EnBW banked adjusted earnings before interest, tax, depreciation and amortisation of €426m from its renewables division for the first six months of 2020

Spain

Air Liquide’s First Renewables Deal in Europe to Power Spanish Operations

Global energy company Air Liquide has signed its first renewable power purchase agreement in Europe.

Russian Federation

Trump Says He Does not Understand why US should Defend Germany from Russia

US President Donald Trump said he does not understand why the US should defend Germany from Russia.

Energy Transition

Mexico is Among the Countries Where Solar and Wind Energy Energy are more Cheaper

The Inter-American Development Bank and the International Labor Organization reported that the transition to a less carbonized economy would generate 2.1 millio…

France

Schneider Electric Expects Lower Annual Revenue, Margin on Virus Uncertainties

Schneider had previously forecast organic revenue growth and a higher core profit margin for the year, but scrapped this in March due to the pandemic

Energy Investment

Tokyo Gas to Spend $657 mln in U.S. Shale, Solar Assets

Tokyo Gas will also pay up to 49 billion yen to purchase the 630 megawatts Aktina solar power project in Texas from Hecate Energy, a U.S. renewable energy devel…

Saudi Arabia

MENA Fund to Increase Saudi Investments with Eye to Recovery

Middle Eastern fund managers plan to increase investments in Saudi Arabia in the current quarter, betting on the kingdom’s ability to bounce back from the coro…

Oil Price

Oil steady as U.S. Stimulus Hopes Counter Demand Concerns

Oil prices were steady on Tuesday as hopes for additional U.S. measures to stimulate the economy countered a demand outlook dampened by rising of coronavirus ca…

CNOOC

Chinese Offshore Oil and Gas Company Joins ADNOC’s Concessions

ADNOC has entered into an agreement for the transfer of rights in its Lower Zakum and Umm Shaif and Nasr offshore concessions from the China National Petroleum …

IFC Assists SMEs in Nigeria to Navigate Economic Challenges

International Finance Corporation is providing a loan of up to $50 million to Access Bank to help the bank increase liquidity to thousands.

Energy Investment

ES Kapital Invests in Munich Start-Up KEYOU

Innovative hydrogen technologies developer KEYOU has announced ES Kapital as its new financial investor.

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.

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.

Oil & Gas Trade

Sinopec Unit Sells Gas Pipeline Asset to PipeChina

China's new oil and gas pipeline company PipeChina has made its first purchase of gas infrastructure assets.