Bloomberg OPEC member Kuwait plans to start trading energy and not just producing it, joining other Middle Eastern producers eager to claw back some of the profit traders like Vitol Group and Glencore Plc earn by buying and selling the region’s oil. State-run Kuwait Petroleum Corp. is in talks with both commodities dealers along with some international oil companies about …
Read More »Bloomberg A dairy farm in the home of the world’s biggest energy exporter is considering using cow dung to meet its power needs. Saudi Arabia’s National Agriculture Development Co. is planning to develop a $200 million biomass plant fired by excrement from its bovines, according to people familiar with the matter. Nadec, as the dairy company is known, is in …
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Bloomberg India set out plans to step up the pace of issuing contracts for electricity from wind farms, triggering a surge in the shares of one of the nation’s biggest maker of turbines. Suzlon Energy Ltd. climbed 3.5 percent in Mumbai after the government said it will tender more than 5 gigawatts of wind projects annually, a pace that will …
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Bloomberg As Energy Secretary Rick Perry considers whether the US should do more keep coal and nuclear power plants online, natural gas producers are trying to ensure they aren’t left in the dark. Lobbyists for the natural gas industry are telling the administration their fuel is just as reliable as coal or nuclear, and that gas-fueled plants have the added …
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Bloomberg NRG Energy Inc. says buyers are hungry for the company’s renewable-energy business as the power generator looks to cut debt and sell assets under pressure from billionaire investor Paul Singer. Almost a week after the largest US independent power producer disclosed that it’s looking to slim down, the company is seeing “robust engagement from a variety of potential co-sponsors …
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ABU DHABI / WAM The Ministry of Energy has announced that the UAE will host the upcoming IAEA International Ministerial Conference on Nuclear Power in the 21st Century, taking place in Abu Dhabi from October 30 to November 1. The conference is being organised by the International Atomic Energy Agency (IAEA) in cooperation with the Nuclear Energy Agency (OECD/NEA) and …
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KHOBAR / Reuters Top oil exporter Saudi Arabia has asked companies to qualify to bid for its first utility-scale wind power project at Dumat al-Jandal, the energy ministry said, keeping on track to tender the first round of renewable energy projects this year. Requests to qualify for the 400 megawatt (MW) wind project in the north of the kingdom will …
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KHOBAR / Reuters State oil firm Saudi Aramco said the first phase of a new Energy Industrial City in Saudi Arabia will be completed in 2021. Last week, the Saudi government said it approved Saudi Aramco’s plans to set up two new companies that will develop and operate the new Energy Industrial City as the kingdom seeks to expand its …
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Bloomberg The eclipse set to darken skies next month threatens to sideline solar farms and rooftop panels in a wide swath of the US, wiping out enough power generation to supply about 7 million homes. This rare event, during which the moon will completely obscure the sun, will cast a shadow along a 70-mile-wide (113-kilometer) corridor stretching from Oregon to …
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Bloomberg Wind and solar power don’t pose a significant threat to the reliability of the US power grid, Energy Department staff members said in a draft report, contradicting statements by their leader Rick Perry. “The power system is more reliable today due to better planning, market discipline, and better operating rules and standards,†according to a July draft of the …
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