Energy

  Bloomberg A unit of Vitol group agreed to acquire Petroliam Nasional Bhd.’s 74% stake in Engen Ltd., South Africa’s largest fuel-station chain, forming a retailer that spans the continent. The acquisition of the controlling stake in Engen from the Malaysian national oil company by Vitol’s Vivo Energy will help the energy trader form a group with 3,900 service stations ...

  Bloomberg China’s state-owned oil majors have stepped up Russian imports in a sign that Beijing is ready to give the go-ahead for more purchases of the country’s crude, according to industry consultants Energy Aspects. PetroChina Co. and CNOOC Ltd. recently resumed imports of waterborne Russian oil, with at least three supertankers of Urals-grade crude signalling China as a destination, ...

Bloomberg Air pollution from coal-fired power plants run by South Africa’s Eskom Holdings SOC risks killing 79,500 people from 2025 until they are due to be shut, according to a study submitted to a panel appointed by the government. The research by the Finland-based Centre for Research on Energy and Clean Air (CREA) assumes that the utility will continue to operate ...

Bloomberg The US is preparing to impose a 200% tariff on Russian-made aluminum as soon as this week to keep pressure on Moscow as the one-year anniversary of the invasion of Ukraine nears. The move has been contemplated for months, said the people, who asked not to be identified discussing internal deliberations. The people added that the US is also ...

  Bloomberg The UK’s grid operator asked one coal-fired power unit to be ready to generate power as it seeks to boost electricity supplies during a cold snap. The Uniper SE-owned unit at the Ratcliffe plant in central England is warming and will be ready to provide power by 12:25 pm London time on Tuesday, according to a notice by ...

  Bloomberg Enel SpA has extended an exclusivity period for talks with Greece’s Public Power Corporation S.A. on the potential sale of its Romanian operations until the end of February. PPC entered an exclusivity agreement with the Italian utility in December in relation to the potential acquisition of the entire equity stakes held by Enel in Romania. The parties “will ...

Bloomberg It’s been called a “carbon bomb” and a caribou killer. Now, climate activists have one final, brief window of opportunity to quash ConocoPhillips’s proposed $8 billion oil development in Alaska. In an unexpected twist, some opponents are quietly encouraging President Joe Biden’s administration to actually approve the project, but in such a scaled-back way that it no long makes ...

  Bloomberg Pakistan inaugurated a $2.7 billion nuclear reactor, providing some relief as the nation grapples with an energy crisis. The 1,100 megawatts capacity power plant will generate some of the nation’s cheapest electricity, according to data from regulator National Electric Power Regulatory Authority. The facility was connected to the grid last March. It’s the second unit at the Karachi ...

  Bloomberg France’s nuclear power plants were generating at the highest level in nearly a year, providing temporary relief in Europe’s fight to save natural gas this winter. The nation had 45 reactors online on Friday, producing 45,360 megawatts, according to grid operator RTE. That’s the highest since Feb. 11 last year, but about 12% lower than the average of ...

  Bloomberg Shell Plc posted a fourth-quarter profit that was well ahead of expectations as its natural gas business thrived, lifting the oil major to a record performance in 2022 fuelled by soaring energy prices. After a bumpy ride earlier in the year amid volatile markets, Shell’s integrated gas unit was firing on all cylinders in the final quarter, delivering ...