Energy

Bloomberg Two days after a judge ordered the controversial Dakota Access oil pipeline to shut by early August, its owner Energy Transfer LP is continuing to schedule shipments and has made no moves to take it offline. The Dallas-based company run by billionaire Kelcy Warren said that it’s not currently emptying the pipeline and, in fact, is accepting requests for ...

Bloomberg Sunrun Inc, America’s biggest rooftop-solar company, is set to become a behemoth through its $1.46 billion takeover of a major rival, Vivint Solar Inc. The agreement, subject to approvals, is one of the industry’s biggest, following Tesla Inc’s 2016 purchase of debt-plagued SolarCity, as well as the failed 2015 acquisition of Vivint by SunEdison, the clean-energy giant that went ...

Bloomberg Britain’s energy regulator is under pressure to ensure it helps network operators like National Grid Plc finance the transition to a low carbon economy without passing the costs on to consumers. Investment in the green transition is key to the country hitting its climate targets but it won’t come cheap. Ofgem will unveil on Thursday its draft price control ...

Bloomberg At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day of output. Cenovus Energy Inc, Husky Energy Inc and Baytex Energy Corp are among companies that have resumed shut-in production as prices rise above $40 a barrel. Imperial ...

Bloomberg Eni SpA became the latest oil company to cut its long-term price assumptions, saying the coronavirus pandemic would have a lasting impact on the industry. Eni now sees benchmark Brent crude at $60 a barrel in 2023 real terms, down from a previous estimate of $70, the company said. Rivals Royal Dutch Shell and BP ve also cut price ...

Bloomberg India will stop power equipment imports from China, power minister Raj Kumar Singh said, amid simmering border tensions between the two neighbours. The South Asian nation has the capability to manufacture all kinds of electricity equipment, Singh said at a meeting with energy officials of states, encouraging them to promote local procurement. China accounted for $2.8 billion of the ...

Bloomberg One of the largest utilities in America is starting to turn its back on natural gas. Dominion Energy Inc, the second-biggest US power company by market value, said it’s selling substantially all of its gas pipeline and storage assets to Berkshire Hathaway Inc for $4 billion. In a separate statement, Dominion and its partner Duke Energy Corp said they’re ...

Bloomberg A Chinese coal industry group halted publication of a daily consumption index that was widely used as a real-time indicator of the nation’s economic health. Accurate and timely data is key to understanding the world’s second-biggest economy, but releases can often change with little warning, even when the figures are from official sources. The coal market lost an important ...

Bloomberg It’s the beginning of the end for the era of mega-dam building in China. China Three Gorges Corp turned on the first set of generators at the massive Wudongde hydropower plant, deep in the mountains of Yunnan province. About 170 kilometres (106 miles) downstream on the Jinsha River sits Baihetan, the last of its kind, scheduled to go into ...

Bloomberg Total SA has deployed a rig to South Africa to look for more oil near a massive discovery, in a rare example of exploration in a frontier area. The Odfjell Deepsea Stavanger has left Bergen in Norway for the southern tip of Africa, Africa Energy Corp, Total’s partner in the project, said. While drilling work has dropped off dramatically ...