Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell.
The Philippines needs to pursue nuclear power to improve its long-term energy security and slash carbon emissions from its highly polluting coal-fired power fleet.
Sojitz, a major Japanese trading house, has announced it will accelerate its exit from thermal coal by halving its investments in projects by 2025 and eliminating them entirely by 2030.
The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Coal-fired power generation is projected to surge in India as the expanding wave of renewable energy capacity cannot keep up with electrification growth in the South Asian country, home to the world’s second biggest population.
Australia, Japan and Vietnam are leading the shift to renewable energy in Asia Pacific, according to the latest research from IHS Markit. Significantly, coal and gas power plants are also being built at a brisk pace as part of the energy mix across the region.
Australia could offer a $26 billion renewable power generation investment opportunity this decade if the government can implement an ambitious long-term Renewable Energy Target (RET) to reverse a slowdown in wind and solar spending.
NorSea UK has said visits by grain and coal cargo ships to its quayside facilities in Peterhead reflect important new markets opening up after a multi-million-pound investment in diversification.
Once a year, the International Energy Agency attempts to impose some order on the chaotic world of oil, gas, power and carbon by publishing detailed scenarios on how the next few decades might unfold.
BHP Group says it’s getting rid of thermal coal mines to help prepare for a lower-emissions future, yet the company’s still counting on fossil fuels to drive its business for another decade.
ExxonMobil is exploring opportunities to invest in LNG-to-power projects in Vietnam as the country faces chronic electricity shortages and Hanoi welcomes US companies to fix a trade imbalance.
Polish oil refiner PKN Orlen’s announcement that it will only complete the 1 GW Ostroleka power plant if it is fuelled by gas and not coal signals that Poland’s energy transition is underway.
Coal power developers risk wasting hundreds of billions of pounds as new renewables are now cheaper than new coal plants around the world, a report warns.