France’s EDF Renewables (EPA:EDF) has made a significant investment in VinaCapital’s SkyX Solar, a rooftop solar power developer in Vietnam as the market continues to boom.
Indonesian national energy company Pertmina plans to invest $3 billion in the giant Rokan Block over the next five years in an effort to maintain upstream production after taking over operatorship from Chevron. Crucially, Pertamina said it is also seeking for partners interested in jointly developing chemical enhanced oil recovery (EOR) technology after failing to acquire the knowhow from Chevron (NYSE:CVX).
Malaysian national energy company Petronas is expected to accelerate final investment decisions (FIDs) for upstream oil and gas projects between 2022 and 2023 following a sharp decline over 2020-21, according to the latest research from Rystad Energy.
China’s national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over $120 billion on drilling and well services by 2025 to help meet rising domestic oil and gas demand. With 118,000 wells estimated to be drilled in China, analysts at Rystad Energy reckon there will be significant opportunities for innovative suppliers.
The China-based Asian Infrastructure Investment Bank (AIIB) and the International Renewable Energy Agency (IRENA) have signed a memorandum of understanding committing to work together to support Asia’s energy transition and mobilise greater private capital for renewable energy. Significantly, the AIIB has been viewed in some quarters as a potential rival to the World Bank and IMF.
The era-defining shift from fossil fuels to clean energy will deliver an unprecedented new boom for commodities—and an opportunity for investors—as a range of relatively obscure materials become essential to delivering emissions-free power, transport and heavy industry.
Scotland could be in line for almost 4,000 green jobs if proposals for a floating offshore wind farm are rubber stamped.
Oil prices could hit $200 per barrel if no new investments are made in the upstream oil and gas sector in the short-term, Oman's energy and minerals minister said yesterday in reply to the International Energy Agency's (IEAs) assessment for reaching net-zero emissions by 2050, reported S&P Global Platts.
US supermajor ExxonMobil said it is planning to restart exploration drilling at its giant Cepu Block in Indonesia, despite rumours that it is looking to divest its interest, in a bid to find new reserves. Cepu, which holds the Banyu Urip project, one of Southeast Asia’s biggest oil developments, is Indonesia’s largest oil producing block.
Delegates attending the virtual Future Energy Asia conference today heard how Asia is expected to need nearly $3 trillion of cumulative energy investment to realise a sustainable pathway by 2040.
CNOOC, China’s third-largest oil company, will boost spending on renewable energy by up to 10% per year to 2025, as it eyes returns that are similar to the oil and gas business. By 2050, CNOOC is targeting at least 50% of earnings from new energy.
BP said today that Western Australia is an “ideal place” to develop export-scale green hydrogen and ammonia production facilities.
Investors poured more money than ever into renewable energy in the first half of the year, but the pace is far from enough to sufficiently curb increasing carbon emissions.
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.
Southeast Asia is emerging as a hotspot for global solar investment with over $10 billion invested just last year. In 2020, the region represented 12% of the global solar market and installed capacity has more than doubled every year since 2018, Rishab Shrestha, analyst at Wood Mackenzie told the APAC power and renewables summit today.
Investments in Asia Pacific wind and solar power could double to $1.3 trillion over the current decade to 2030 compared with the period 2011-20, predicts Wood Mackenzie. However, in most Asian markets, subsidy-free renewable power will not be able to compete with coal power until 2025 or later, cautioned the energy research company.
Fitch Solutions believes that the Myanmar military government’s solar project push, the first attempt at stimulating foreign investment since the coup, will not succeed and will do little to turn the gloomy economic situation around.
Are you struggling to understand which investment opportunities are right for your company and renewable portfolio? Join Reuters Events, Renewity and SMBC Bank International, in the upcoming free webinar, Financing The Energy Transition: Make the Right Investment Choices to learn how to tackle the industry’s biggest challenge.
A new investment programme has been launched which will eventually unlock £200 million of public sector investment to help Scotland achieve its net zero target.
Officials in Japan are set to allow state-owned Jogmec to provide financial support for local companies investing in overseas plants that produce hydrogen or ammonia as part of a push to decarbonise, reported the Nikkei.
Spending on offshore wind developments around the globe will top $810billion through this decade, according to new analysis from Rystad Energy.
The Indian Ministry of Petroleum and Natural Gas has reportedly told state-owned ONGC to sell stakes in producing oil fields to private companies and find foreign partners for gas fields in the prolific Krishna Godavari (KG) basin.
Vietnam will need more than $128 billion of investment to achieve bullish targets in its latest power development plan that seeks to expand gas and renewable generation capacity over the next decade.
Student body presidents from eight top US universities came together recently to endorse a statement on fossil fuel divestment drawn up by Harvard University’s Undergraduate Council.
As oil and gas faces a rise in climate activism, ESG concerns, and the need to raise its own profile as a pillar of the energy transition, investors are weighing the impact.