Economy

Hydrogen Project

ACWA Power and Industrial Development Corporation of South Africa (IDC) Set to Explore Green Hydrogen Projects in South Africa

Agreement intends to accelerate the green hydrogen economy in South Africa and paves the way to project(s) potentially valued at $10 billion.

Energy Transition

TotalEnergies Buys Stake in Brazilian Renewables JV

TotalEnergies and Brazillian developer Casa dos Ventos (CDV) have created JV to jointly develop, build and operate the latter's 12GW renewables portfolio.

Iberdrola Renewables Investment Rises

Iberdrola invested almost €8bn globally in the first nine months of 2022, an increase of 14%, with 90% of funding allocated to renewables and smart grids.

Europe’s Energy Crisis Heaps Pain on Heavy Industry

Makers of metals, chemicals and gases said on Tuesday that the outlook for the final months of the year had worsened as concerns intensify that a surge in energ…

Hydrogen Project

Hydrogen to Deliver More Than $8.7BN Annually to the UAE Economy – Report

Opportunities are driving multibillion-dollar investments individually and jointly, through bilateral agreements such as the strategic partnership between bp, A…

BlackRock Raises $4.5 Bln for Climate-Focused Infrastructure Fund

BlackRock Inc has raised $4.5 billion out of an overall $7.5 billion-target for a new fund to invest in infrastructure assets aimed at climate-focused projects.…

Oil Price

U.S. Oil Companies’ Cash Flow to Rise by 68% Per Barrel in 2022 - Deloitte

U.S. upstream oil companies are expected to bank 68% higher free cash flows per barrel produced in 2022 as surging prices fuel profits, while output growth ling…

United Kingdom

UK North Sea Firm Ithaca Energy Presses Ahead With London Listing

North Sea oil and gas producer Ithaca Energy said on Tuesday it was going ahead with its plans to list in London and was seeking admission of its ordinary to th…

Hydrogen Project

UAE and UK Can ‘Collaborate to Become Leaders in Hydrogen Market’

By 2050, hydrogen is estimated to deliver more than $8.7bn annually to UAE economy

United Kingdom

New UK Prime Minister Sunak Faces Major Challenge With Energy Crisis

Sunak faces a set of unique challenges including a cost-of-living crisis and an energy crisis.

Natural Gas

Factbox: How Is Germany Replacing Russian Gas?

Germany, Europe's biggest economy and historically a major importer of Russian gas, is scrambling to secure alternative supplies following a plunge in flows fro…

Wind Farm

Ørsted to Sell 50% Stake in US Renewables Portfolio

Global wind project developer Ørsted has announced that it is selling a 50% ownership stake in a US portfolio to the investment group Energy Capital Partners. …

Paris Climate Agreement

‘Oil and Gas Investments Could Finance Renewables Needed for 1.5°C’

The Paris Agreement could be achieved if money intended for new oil and gas fields was redirected into wind and solar, a study claims.

Energy Transition

S.Africa's Energy Transition Plan Needs $46.5 Bln, Five Times Pledges - Sources

South Africa's plan to kick-start its transition from coal to renewable energy will need $46.5 billion, more than five times the $8.5 billion Western nations ha…

Net Zero Emission

U.S. EPA Begins Work to Set up $27 Bln Green Bank

The Environmental Protection Agency (EPA) on Friday began the process of designing a $27 billion green bank that will offer grants to disadvantaged communities …