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 looking to boost exposure to trading products and financing projects that are deemed of key importance to the energy transition. Bank of
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 sources told Reuters. Other oil companies, including Exxon MobilXOM.N and Occidental PetroleumOXY.N, plan to take advantage of emerging technologies to filter lithium from
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 under CEO Wael Sawan. Investment bank Jefferies JEF.N is running the sale of up to 10.6 gigawatts (GW) of solar generation and storage
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 years into its plan to shift away from oil and gas, bp is under increasing pressure from some shareholders to
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 Review reported on Friday. Like countries across the developed world, Australia is responding to the massive raft of clean energy
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 its ‘Barclays Transition Finance Framework’, says in the document that “As there is no universal consensus as to how to define “transition”
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 transition will mean a higher price of energy,” Pouyanné told FT, noting that policy makers would be essentially mis-selling the transition if
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 of the Scissortail Renewables project, a renewable natural gas (RNG) plant that will convert methane from municipal waste into renewable energy for
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 to its ambitious targets. Once a green investor darling, the world’s biggest offshore wind developer found itself at the centre of
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 trillion in 2021, good for a nearly 10% annual clip ever since Beijing embarked on economic reforms in 1978. The
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 Copenhagen Energy Islands (CEI), which is currently developing a portfolio of around 10 energy island projects around the North Sea, the Baltic Sea, and
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 could benefit, uncertain. The credit will be based on the life-cycle greenhouse gas emissions from the power source used in hydrogen production,
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