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.
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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.
The number of jobs in the UK offshore wind industry will swell by more than 43,000 within the next five years, according to a new report.
It is all very well to talk about coming out the other side of crises but it’s only by investing that we will get there in better shape.
Indonesian national oil company (NOC) Pertamina has a planned capital expenditure totalling $92 billion for the term 2020-24. The NOC will be seeking external funding and partnerships to meet this goal.
Petronas MPM reckons there is at least 6 billion barrels of oil equivalent (boe) waiting to be discovered in Malaysia’s deep waters.
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
The floating offshore wind power market in Asia Pacific could offer investment opportunities worth up to $58 billion as a significant market for the technology is emerging, latest research from Wood Mackenzie shows.
Human rights groups and industry executives have slammed Woodside Energy’s rationale to proceed with a major gas development and exploration campaign in Myanmar following a military coup and subsequent bloody protests.
Indonesian national oil company (NOC) Pertamina is seeking to farm-down stakes in some of its key domestic assets taken over from international oil companies (IOCs) exiting Indonesia.
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.
In a challenging year for Chinese companies pursuing acquisitions abroad, Latin America emerged as a region where they were able to make some corporate marriages work.
ABIS Energy is passionate about Guyana. We have been engaged with the Guyana economy for the past 4 years and foresee a bright future.
Oil and gas industry warned it needs to become ‘wholly different’ as CCC releases landmark net zero report
North Sea oil and gas firms are being warned they will need to become “wholly different” if they want to retain their position in the structure of the UK’s economy.