Renewable Energy

CERAWEEK-Oil mergers, clean fuels vie for attention at Houston energy conference

CERAWEEK-Oil mergers, clean fuels vie for attention at Houston energy conference

Nasdaq


HOUSTON – Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large scale move to clean fuels.

Global …

Source: Oil Price

U.S. to back Nevada lithium project with $2.26 billion loan

Oil Price


Lithium Americas Corp has received a conditional commitment for a $2.26-billion loan from the U.S. Department of Energy to help it build lithium processing facilities in Nevada, as the Biden Administration looks to support America-produced lithium and reduce …

Source: Reuters

US grants $750 million for hydrogen projects across 24 states

Nasdaq


WASHINGTON – The U.S. Department of Energy said on Wednesday it is granting $750 million to projects across 24 states that are building capacity to produce and use clean hydrogen.

Hydrogen is a fuel that the administration of President …

Source: Reuters

Alberta’s ban on renewables could hurt C$11 bln in investments, says study

Yahoo Finance


OTTAWA – Canadian province Alberta’s ban on some renewable projects could hurt C$11.1 billion ($8.24 billion) in investments and stall up to 6.3 gigawatts (GW) of solar and wind power capacity, a study said on Monday.

The new …

Source: Reuters

Bank of America set to expand its energy transition business

Oil Price


Bank of America is looking to expand its business related to the energy transition, boosting carbon trading, and power and natural gas markets trading, senior executives have told Bloomberg.

Banks in the United States and Europe are …

Source: Reuters

EXCLUSIVE-Gulf oil giants Saudi Aramco, Adnoc set sights on lithium

Nasdaq


LONDON/DUBAI – Saudi Arabia and the United Arab Emirates’ national oil companies plan to extract lithium from brine in their oilfields, in line with efforts to diversify their economies and profit from the shift to electric vehicles (EVs), three …

Source: Reuters

EXCLUSIVE-Shell’s US solar unit launches asset sale, sources say

Nasdaq


NEW YORK – Shell’s SHEL.L U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects …

Source: Reuters

Activist investor pushes for bolder action as bp “quietly” pivots back toward oil and gas

World Oil


(Bloomberg) – bp Plc is showing signs of a pivot back toward oil and gas that should boost returns, but is doing it too quietly to benefit its share price, according to activist investor Bluebell Capital Partners.

Four

Source: Reuters

Australia set to join global clean energy subsidy race with new green fund, AFR reports

Nasdaq


SYDNEY – Australia plans to unveil a range of financial incentives to drive investment in the local clean energy sector and keep money and talent from being pulled overseas by subsidies in the U.S. and Europe, the Australian Financial …

Source: Reuters

Barclays looks to avoid greenwashing while financing the energy transition

Oil Price


UK banking giant Barclays is looking to avoid claims of greenwashing with a new set of guidelines about what ‘transition finance’ is and how its new transition finance team should apply it.

The bank, which has just published …

Source: Reuters

TotalEnergies: States must admit transition would raise energy prices

Oil Price


Governments need to admit that the transition to low-carbon solutions would raise the price of energy globally, TotalEnergies chief executive Patrick Pouyanné told the Financial Times in an interview published on Monday.

“We think that fundamentally this energy …

Sparq Renewables, NextEra Energy break ground on Oklahoma RNG project

Sparq Renewables, NextEra Energy break ground on Oklahoma RNG project

Waste Today


Publisher’s Note: Congratulations, Sparq Renewables! EnerCom celebrates the continued success of our clients.

Sparq Renewables, based in Oklahoma City, the city of Enid, Oklahoma, and NextEra Energy Resources LLC, based in Juno Beach, Florida, have announced the groundbreaking …

Source: Reuters

PREVIEW-Orsted’s strategic shake-up has investors worried

Nasdaq


COPENHAGEN – Orsted ORSTED.CO is expected to trim investment plans and cut dividends on Wednesday as it presents a new strategy but investors are worried that the Danish renewable energy firm may want to raise new capital to stick …

Source: Oil Price

Latin America: The next chapter in China’s global economic strategy

Oil Price


For decades, China has been a key driver of global economic growth thanks to an economy that managed to maintain blistering growth for what seemed like forever. China’s economy ballooned from $1.2 trillion in 2000 to nearly $18 …

Infrastructure investors plan $163 billion energy islands

Infrastructure investors plan $163 billion energy islands

Oil Price


Denmark-based Copenhagen Infrastructure Partners (CIP), a major investor in offshore wind, said on Friday it is launching a new company to develop energy islands globally, with investments estimated at around $163 billion (150 billion euros).

CIP is launching …

Source: Reuters

US unveils clean hydrogen plan, nuclear power role uncertain

Nasdaq


WASHINGTON (Reuters) – The U.S. proposed rules on Friday for how energy companies can access billions of dollars in tax credits for producing low-carbon hydrogen using new clean energy sources but left thorny issues, such as how nuclear power …

Source; Reuters

EXCLUSIVE-Biden poised to deliver win for ethanol makers on SAF credits

Nasdaq


NEW YORK – The Biden administration is expected this week to recognize a soon-to-be-updated methodology favored by the ethanol industry in guidance to companies looking to claim tax credits for sustainable aviation fuel (SAF), three people familiar with the …

Source: World Oil

COP28 deal underscores U.S. offshore industry’s “pivotal role” in global energy transition

World Oil


(WO) – National Ocean Industries Association (NOIA) President Erik Milito issued a statement on the non-binding pact signed at the conclusion of the two-week-long COP28 climate summit in Dubai:

“The goals set by COP28 underscore the pivotal role …

Source: Reuters

New COP28 draft deal stops short of fossil fuel ‘phase out’

Nasdaq


DUBAI – A draft of a potential climate deal at the COP28 summit on Monday offered various options to reduce greenhouse gas emissions, but stopped short of the full “phase out” of fossil fuels many nations have demanded.

U.N. …

Source: Oil Price

The oil demand outlook COP28 leaders would hate

Oil Price


This week, a report from a climate organization warned that emissions from the combustion of hydrocarbons are set for a record this year. This is despite the massive buildout of wind and solar capacity, hundreds of billions of …

Source: Reuters

The pricey reality behind Biden’s EV aspirations

Oil Price


The Biden administration is pushing for widespread electrification in less than 20 years through government subsidies and coercive regulations as part of its aggressive climate agenda. The truth is that President Joe Biden’s goals are an illusion at …

Source: Oil Price

Clean Energy start-ups are struggling as they wait for government aid

Oil Price


Some American clean energy and technology startups are struggling to keep afloat while waiting for the U.S. Administration to disburse the pledged loans and funds under the landmark Inflation Reduction Act (IRA).

Several startups have already filed for …

Source: Reuters

BP seeks partnerships to navigate renewables storm

Yahoo Finance


BERLIN/LONDON – BP is seeking partners for offshore wind projects in Japan and may invest in hydrogen technology companies to tackle inflation and equipment bottlenecks that have battered the renewables sector.

The oil major plans to expand in …

Source: Reuters

U.S. renewable, grid battery projects battle transformer shortage

Nasdaq


U.S. developers building renewable energy projects and power storage for grids are scrambling to procure critical components, leading to rising costs and project delays. Supply chain problems have tightened supply of high-voltage transformers necessary to connect wind and solar …

Source: Reuters

Exxon to start lithium production for EVs in the US by 2027

Yahoo Finance


HOUSTON – Exxon Mobil said on Monday it plans to start producing lithium from subsurface wells by 2027 to provide supplies of the key metal used in electric-car batteries and advanced electronics.

Oil majors are investing in the …

Source: Oil Price

IEA sees Latin America playing a key role in the global energy transition

Oil Price


Latin America is poised to play an increasingly important role in the global transition to cleaner energy sources, the International Energy Agency (IEA) said on Wednesday in its first-ever energy outlook on the region.

Latin America and the …

Source: Reuters

U.S. offshore wind sector ‘fundamentally broken’ – BP exec

Oil Price


The U.S. offshore wind industry is “fundamentally broken” and needs a reset, a clean energy executive at supermajor BP said at the FT Energy Transition summit on Wednesday.  But the regulatory and permitting environment for the industry can …

Source: World Oil

bp interim CEO denies U.S. shale acquisition claims, defends focus on energy transition

World Oil


(Bloomberg) – bp Plc’s temporary boss gave a robust defense of the company’s strategy, batting away suggestions that he needs to follow the big oil deals done by U.S. competitors Exxon Mobil Corp. and Chevron Corp.

“We’re focused …

Source: Reuters

Exclusive-Shell cuts low-carbon jobs, scales back hydrogen in overhaul by CEO

US News


LONDON – Shell will cut at least 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO Wael Sawan’s drive to boost profits, it said on Wednesday.

The staff

Source: Reuters

Shell changes approach to mid-century net-zero goal while focusing on oil, gas

World Oil


(Bloomberg) – Shell Plc still plans to achieve net zero emissions by the middle of the century, but its approach to hitting that target has changed, its CEO said. “For avoidance of doubt, what hasn’t changed is the …