Energy

Bloomberg Blue Racer Midstream, a private equity-backed natural gas pipeline owner, is considering an initial public offering that could be valued at $2.5 billion, according to people familiar with the matter. The Dallas-based company, which is a 50/50 joint venture between private equity firm First Reserve and Caiman Energy II, is working with advisers to evaluate an IPO, said the ...

Bloomberg Anadarko Petroleum Corp. approved a $25 billion liquefied natural gas project in Mozambique that could help transform the economy of one of the world’s poorest countries. Chief Executive Officer Al Walker signed off on what he called the biggest ever foreign investment in Africa. Anadarko sees potential for Mozambique to become one of the largest LNG suppliers in the ...

Bloomberg Statkraft AS joined with Statera Energy Ltd. to build a 1 gigawatt battery in the UK with a backup generator fuelled by natural gas, part of an effort to profit from the nation’s need to balance its power grid. London-based Statera will build the battery as well as an array of gas reciprocating engines, Norway-based Statkraft said. The systems ...

Bloomberg The solar industry has a new way of ducking the Trump administration’s tariffs on its imports: two-sided panels. The US Trade Representative said in a notice that it’s granting an exemption to solar duties for bifacial panels, ones that can generate power on both sides. The carve-out is a win for both Asian manufacturers including JinkoSolar Holding Co, LG ...

Bloomberg After Mexico’s National Energy Control Center cancelled a widely anticipated long-term power auction almost five months ago, the frustration among private companies was palpable. Now, they are taking matters into their own hands — with the help of an upstart energy company formed by some of the power auctions’ original architects. Mexico City-based Bravos Energia is launching new, private ...

Bloomberg The oil pipeline that Canadian Prime Minister Justin Trudeau’s government approved is slated to start shipping crude as early as 2022 and cost more than C$7.4 billion ($5.6 billion) after legal delays hampered the construction process. The Trans Mountain expansion, which would carry 590,000 more barrels of crude from Alberta’s oil sands to a port in Vancouver, was delayed ...

Bloomberg Iberdrola SA will invest 100 million euros ($112 million) in renewable energy and storage projects in Ireland by 2025 as it starts to offer customers power in the country for the first time. The Spanish utility said it’s offering consumers in the Republic of Ireland 100 percent clean electricity tariffs as it enters the market with plans to provide ...

Bloomberg Ukraine is warning European nations to prepare for a gas crisis amid skepticism it will agree on a new transit contract with Russia before the current deal expires. It’s “highly probable” that a new accord won’t be concluded by January 1, when the current agreement ends, according to Ukraine’s deputy foreign minister Olena Zerkal. That echoes skepticism by the ...

Bloomberg Parsley Energy Inc. said it would be “attractive” for any potential buyer as the US shale driller expects to generate positive free cash flow in the back half of this year. “We are attractive for purchasers whatever type of investor it is,” Chief Executive Officer Matt Gallagher said in a phone interview. “That’s always a goal, an objective of ...

Bloomberg Exxon Mobil Corp. and Saudi Arabia’s state-controlled petrochemicals company formally approved construction of a new chemical complex in Texas that will process production from the Permian Basin’s booming oil and natural gas wells. The project near Corpus Christi will be the world’s largest steam cracker and create $50 billion of “economic output” in the first six years, Exxon and ...