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Economy
Hydropower Plant
Additional Investment Announced for Kivalliq Hydro-Fibre Link Project, Canada
Additional investment of around $3 million has been approved to support the potential development of a hydroelectric and fibre-optic link that would connect com…
LNG
MIC Approves $2.5bn Investment for Myanmar Power Plant
MIC announced the investment at a meeting chaired by State Administration Council member and MIC chairman, Lieutenant–General Moe Myint Tun, along with other m…
Energy Investment
The OPEC Fund to Support Renewable Energy Projects in Nepal
The loan represents the OPEC Fund's first financial institution transaction in the country.
Natural Gas
China’s Natural Gas Imports Surge As Economy Recovers
Natural gas imports into China rose 22.4 percent on the year in the first four months of this year to 39.45 million metric tons.
United Arab Emirates
First Green Mortgages Issued in UAE Through HSBC Bank
Climate change has become a global pressing issue and governments and private entities are racing to find new ways to incentivise green investment
United Arab Emirates
Dana Gas Year on Year Profits Leap 41pc in Q1
Abu Dhabi-listed Dana Gas reported net profits of $24mn in the first quarter of this year, up 41pc versus the corresponding quarter in 2020, as it boosted produ…
Siemens Energy Reports Moderate Drop in Q2 revenue
Siemens Energy has reported a decrease in revenue by 4.4%, down to €6.5bn, for the second quarter of 2021, compared to €6.78bn in the same quarter of last yea…
Energy Investment
UN Chief Urges Banks to Halt Fossil Fuel Infrastructure Financing
Banks should finance low-carbon climate-resilient projects, not big fossil fuel infrastructure that is not even cost-effective anymore, UN Secretary-General Ant…
Wind Farm
Uzbekistan, Saudi Arabia's ACWA Power Sign Agreement to Build Region's Largest Wind Farm
Uzbekistan has signed an agreement to build a 1,500 MW wind farm in its northwestern Republic of Karakalpakstan with Saudi Arabian company ACWA Power.
United States
Siemens Energy to Shut Olean Plant
Siemens Energy has announced plans to shut its plant in Olean, New York by June 2022
Oil Price
Saudi Arabia Could Slash Deficit To Below 5% Of GDP At $60 Oil
The world’s largest oil exporter, Saudi Arabia, could see its budget deficit drop to below 5 percent of gross domestic product this year if oil prices average …
Wind Power Project
Bank of Ireland and EIB Co-Finance €100m Wind Energy Project
The European Investment Bank is partnering with the Bank of Ireland to co-finance a €100 million wind energy farm project.
Natural Gas
China Gas Use to Rise 10pc in 2021: Sinopec, PetroChina
China's state-controlled energy firms are expecting domestic gas demand growth to accelerate this year, as the economy recovers and consumption of the fuel is b…
Energy Investment
Iraq to Invest $3bn Over Five Years in the Basrah Gas Company
Baghdad has also looked at forming other alliances regionally, to wean its dependence off Iranian gas
Wind Power Project
JSW Renew Energy Signs Wind PPA in India
Indian power company JSW Energy’s subsidiary, JSW Renew Energy, has signed a 540MW power purchase agreement with the Solar Energy Corporation of India for blen…
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