Energy

ALGIERS / Reuters Algeria plans to amend its energy law before the end of the year as the OPEC producer tries to attract more foreign investors, a senior source at state energy firm Sonatrach told Reuters. Algeria, a major gas supplier to Europe, wants to boost oil and gas revenues which were hit by a fall in global prices. But …

Bloomberg Royal Dutch Shell Plc and its partners Eneco Holdings NV and Mitsubishi Corp. are seeking to sell a stake in two Dutch offshore wind-farm projects that may cost $1.4 billion to develop, two people familiar with the plan said. The companies are looking to reduce their ownership in the Borssele III and IV wind farms by as much as …

Bloomberg State-run generator NLC India Ltd is offering to reduce tariffs from two of its power plants after its main buyer asked the company to lower prices or shelve the projects, according to two officials with knowledge of the matter. NLC has offered to bring tariffs down by about Rs0.5 per kilowatt hour, taking a hit of 1.5 percentage point …

Bloomberg The success of Prime Minister Narendra Modi’s ambitious plan to electrify all households in India by December 2018 faces a familiar hurdle: the money-losing state power retailers. Modi earlier this week announced the government will spend 163.2 billion rupees ($2.5 billion) to provide electricity connections to every home in India by the end of next year, ahead of an …

Bloomberg Europe’s wind power industry may attract 351 billion euros ($417 billion) of investment by 2030 if countries adopt reforms and targets for their energy systems in the next year, trade association WindEurope said. The European Union may create 716,000 jobs with a target for member states to produce 35 percent of their energy from renewables within 12 years, the …

Reuters BP said it had begun production at the Khazzan gas field in Oman, the sixth and largest of seven new upstream projects that are due to start for the British oil giant this year. Production at the field follows on from BP’s onshore compression and Juniper projects in Trinidad, West Nile Delta Phase 1 in Egypt, Persephone in Australia …

LONDON / Reuters Specialist renewable energy investor Quercus will invest over half a billion euros in a solar power project in Iran, with construction to start in the first half of 2018, the company’s chief executive told Reuters. The planned 600-megawatt (MW) plant, located in central Iran, will be the sixth largest globally, behind projects of up to 1.5 gigawatts …

Bloomberg US solar developers are bracing for months of uncertainty after a federal trade agency ruled that imported panels are crippling American manufacturers, giving President Donald Trump until January to decide whether to impose tariffs. The $29 billion industry had largely expected the 4-0 decision from the US International Trade Commission. Even before the vote, developers were halting construction and …

Bloomberg India’s coal-fired power plants in August ran at a three-year high amid shortages created by lower generation from hydropower and nuclear. Plant utilization at coal-fired stations rose to 58% last month, compared with 51.6% a year ago, power ministry data released this week show. That’s the highest rate for August since 2014, according to data compiled by Bloomberg. Lower …

Bloomberg Imposing tariffs on solar components imported into the US will drive up prices for solar developers. It could also cost U.S. taxpayers as much as $1.23 billion. The US offers incentives to encourage people to use clean energy, paying owners of solar-power systems a tax credit equal to 30 percent of the total installation costs. More expensive panels leads …