Energy

Bloomberg South Africa is asking independent power producers to lower electricity costs as part of the rescue of Eskom Holdings SOC Ltd., the debt-stricken state utility. Renewable energy project developers will discuss potential solutions ahead of follow-up talks with the government on Friday. The independent power producers and coal companies met with state officials last week, which resulted in an ...

Bloomberg The natural gas boom is killing America’s nuclear industry. Wind and solar may finish the job. While nuclear plants struggle to compete with the flood of cheap gas coming from the nation’s shale fields, they still offer a key advantage, supporters say: They generate 24-hour electricity without producing carbon emissions. Renewables, meanwhile, haven’t yet nailed down the storage capacity ...

Bloomberg South Africa raised prices on gasoline and diesel prices for October, blaming the attack on Saudi Arabia’s crude oil infrastructure for the increase. “Had it not been for the stronger rand during this period, the impact of the attacks on Saudi facilities on prices would have been more severe,” Gwede Mantashe, the minister responsible for mining and energy, said ...

Bloomberg Seven hundred tons of Russian refinery equipment has just completed a journey worthy of a great explorer. The parts manufactured in Volgograd will be used to upgrade Gazprom Neft PJSC’s Omsk refinery. That’s a trip of 2,599 kilometers by land, but the oversized cargo had to be taken by water. That required a journey of more than 9,000 kilometers ...

Bloomberg Petroleos Mexicanos replaced the head of its trading arm PMI with Ulises Hernandez, formerly an executive of Pemex Exploration and Production, after a mass exodus by former management. Hernandez, previously the head of resources, reserves and partnerships at Pemex, will replace Raul Enrique Galicia, according to a statement. PMI’s crude trading division will also have new management, as Armando ...

Bloomberg For almost three years, the oil industry has been puzzling over how to supply merchant ships with fuel that will meet tough new environmental standards. Turns out part of the solution was sitting in the ground and under ocean floors all the while: crude oil. Oil from off the UK’s coast, which requires blending — but no refining — ...

Bloomberg Australia and Japan signed a cooperation agreement to explore ways to develop carbon recycling technologies, Australia’s Resources Minister Matt Canavan said Wednesday. The nations will facilitate cooperation on research into ways to use carbon dioxide as a key ingredient in manufacturing products such as carbon fiber or for use in construction and agriculture. “Successfully using carbon dioxide as a ...

Bloomberg Nigerian prosecutors are seeking information about funds sent to a government lawyer that were sent through Allied Irish Banks Plc, broadening an international legal dispute between the African country and a company claiming $9.6 billion for a failed contract. Nigeria is embroiled in a fight with Process & Industrial Developments over a failed 2010 deal to develop a gas ...

Bloomberg Oil’s dominance as a energy source may be on the wane, but one Indonesian producer is confident there’s still plenty of opportunities to be had as the age of the hydrocarbon enters its final act. PT Medco Energi Internasional is aiming to lift its oil and gas output from 120,000 barrels of oil equivalent a day to 300,000 in ...

Bloomberg Sudan’s newly appointed oil minister urged international energy companies to speed up efforts to find and develop deposits in a country struggling to recover from US sanctions and a plunge in petroleum revenue. Officials from Schlumberger Ltd., an oilfield services company based in Houston, met with Oil and Mining Minister Adel Ali Ibrahim and expressed a readiness to resume ...