A strategic merger between BHP and Woodside has been on the deal dream list in oil and gas circles going back three decades. Yesterday the pair confirmed that they will enter into a merger of their respective oil and gas portfolios in an all-stock deal that creates an LNG powerhouse.
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
South Korea will launch its largest-ever solar photovoltaic (PV) tender in July when it will offer 2 GW of capacity. An extra 2GW could also be offered later this year.
Total and ArcelorMittal Nippon Steel (AMNS) have signed a deal for the supply of up to 500,000 tons of liquefied natural gas (LNG) per year until 2026.
Despite major global economies moving away from coal to curb carbon emissions, coal is set to maintain its dominance in Indonesia’s power mix during 2021-30, as a decisive renewable energy policy remains absent.
Cop26 must consign coal power to history, signal the end of polluting vehicles and call time on deforestation, the president of the climate summit has urged.
The Asian Development Bank (ADB) will no longer finance new coal-fired power capacity, as well as oil and gas exploration and production, it announced in a draft policy statement on Friday.
Renewables now make up 37% of all power generation projects under construction in Asia, representing a 4% increase in share from the previous quarter, according to the latest IHS Markit Renewable Additions Index (RAI) for Asia Pacific. Although coal power projects remain strong despite climate pressure.
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 need 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.