Energy

SINGAPORE / Reuters India’s diesel demand is expected to rise to record levels again this year as a slew of infrastructure projects boosts use of the transport and industrial fuel, although a government-induced cash shortage will hold growth to its slowest in three years. Increased fuel efficiency, a fall in commercial vehicle sales, and the use of other fuels for ...

Bloomberg Norway is seeking greater leeway to restrict foreign ownership of its offshore fields, a move seen to be potentially targeting a growing Russian interest in its resources. In recent proposed changes to industry regulations, the Norwegian government beefed up its possibility to rej-ect non-European entities on grounds of national security from acquiring offshore oil and gas licenses. “I would ...

Bloomberg Some of Europe’s biggest utilities joined a project to test blockchain-based trades in wholesale power and natural gas markets. Utilities from Enel SpA to RWE AG will start live trading based on blockchain in the fourth quarter, after tests that start in August, said Michael Merz, managing director at Ponton GmbH, the developer of the project. The software, called ...

Bloomberg Russia is pressing ahead with its biggest-ever auction for renewable energy, seeking to award contracts to purchase 1.9 gigawatts of clean electricity as well as attracting foreign investment to support jobs at home. The government tender starting on Monday has attracted the interest of For-tum Oyj, Finland’s largest energy com- pany, which is prequalified to participate in the auction. ...

LARNACA / Reuters Iraq may look at hedging part of its crude oil production, the head of the OPEC member’s oil marketer SOMO said, as a way to protect government revenue against the risk of oil price volatility. “It is in our strategy in the future that maybe we will consider hedging part of Iraqi crude … SOMO is floating ...

Bloomberg SolarWorld AG’s US unit joined a trade case asking the federal government to impose duties on low-cost imports that have fueled a nationwide boom in solar installations. The company, which filed a separate trade complaint that led to US tariffs on Chinese panels in 2012, became a co-petitioner in Suniva Inc.’s case before the US International Trade Commission. Suniva, ...

Bloomberg Power-generating kites backed by Royal Dutch Shell Plc, Schlumberger Ltd. and EON SE will start tests in the UK this summer, with the aim of developing a technology that could eventually replace offshore wind turbines. Kite Power Systems, known as KPS, is working on a 17-meter device that flies on air currents high above the ground and generates power ...

Bloomberg Energean Oil & Gas Group signed contracts to supply private Israeli power plants with natural gas, the first deals to compete with the partners who dominate the country’s energy industry. Greece’s Energean will supply as much as 23 billion cubic meters of natural gas from the Karish and Tanin fields offshore Israel to Dalia Power Energies Ltd. and Or ...

Bloomberg Britain’s fleet of solar panels generated a record amount of electricity, as the nation basked in sunshine during the hottest day of the year. UK solar power output rose to a record 8.75 gigawatts at 1 p.m. London time, according to data compiled by National Grid Plc and Sheffield University. That satisfied 24% of electricity demand and broke the ...

Bloomberg After sparing its prized US market from oil-output cuts, Saudi Arabia plans to “markedly” reduce exports to its political ally in the coming weeks in an effort to reduce swollen and highly visible crude inventories in the world’s biggest consumer. “Exports to the US will drop measurably,” Energy and Industry Minister Khalid Al-Falih told reporters after chairing a meeting ...