Energy economy

Shell Buys Sprng Energy Group for US$1.55Bn

Shell believes its purchase of Sprng Energy Group will enable it to become a leader across the power value chain in the rapidly growing India market.

Carbon Emissions

Investing in China’s Sustainable Finance Boom

China is the world’s largest economy in purchasing power parity, the world’s largest annual emitter of greenhouse gas emissions and the world’s largest renew…

LNG

TotalEnergies Books $4.1 Billion Impairment Charge on Arctic LNG 2 Exit

French TotalEnergies will include a $4.1-million impairment on its balance sheet over Russia sanctions that have led to difficulties with its massive Arctic LNG…

United Kingdom

UK Power Networks Unveils New Flexibility Tender

The tendering process will be for 292MW of power across 113 sites in London, the East and the South East of England.

Net Zero Emission

UAE Requires $681Bn Investment for Net-Zero Transition, Says Standard Chartered

Emerging markets told they need to invest an additional $94.8tn to meet long-term global warming targets.

United States

DOE Funnels $12M to Enhance US Energy Systems’ Cybersecurity

The US department of energy (DOE) has announced $12 million for six new research, development and demonstration (RD&D) projects that will develop cybersecurity …

World Needs to Spend an Additional $1.3Bn on Energy by 2030

A new report found that oil and gas need a boost in contrast to previous IEA report which urged governments to stop new fossil fuel plans.

Energy Storage Battery

CATL’s Revenue Hits USD 20 Bn, Full-Year Net Profit Dips to 26.28%

Amid increasing raw material cost and China’s zero-COVID policy, CATL’s net profit was down by 1.48 percentage points to 26.28%

Crude Oil

Guyana Gets $106 Million From Exxon for Oil From Newest Offshore Platform

Guyana sold its first share of crude oil from the country's newest offshore production facility to Exxon Mobil (XOM.N) for about $106 million, the government sa…

CNOOC

China’s Largest Producer of Offshore Oil & Gas Moves to Make Full Use of Domestic and Overseas Financing Channels

Aiming to make full use of domestic and overseas financing channels, Chinese oil and gas giant CNOOC Limited has launched an initial public offering (IPO) on Sh…

Ammonia

Suez Canal Economic Zone Signs $3Billion Green Energy Deal

Agreement with a consortium including French company EDF Renewables will lead to nearly 350,000 tonnes of green fuel being produced annually for ships passing t…

Offshore Wind Power

Energy Prices to Remain Significantly Above Average up to 2030 and Beyond

Research from Cornwall Insight looking at Great Britain’s (GB) Power Market out to 2030 has shown energy prices will remain in excess of £100/MWh annually.

World Needs Extra $1.3 Trillion Energy Investment by 2030

The world needs to find $1.3 trillion of incremental investment by 2030 to boost all types of energy output and infrastructure from renewables to oil and gas to…

EU

Italy’s CAP Group Secures €100m EU Green Loan to Upgrade Water Infrastructure

It will also use the financing to improve its water and sewerage network, implement circular economy projects and reduce emissions.

Carbon Emissions

BlackRock-Led Group Invests $525M Toward India Renewable Energy

A group considered the world’s largest asset manager has joined with a United Arab Emirates (UAE) wealth management fund to support an investment in renewable …