Energy

One of Europe’s greenest utilities, Orsted A/S, is set to make more money this year thanks in part to burning more coal as Europe turns to the polluting fuel to provide energy security. While Orsted mostly generates electricity from an increasing fleet of wind farms at sea, it also has plants that produce power and heat from burning coal and ...

Galp Energia SGPS SA, Portugal’s biggest oil company, said it wants partners for its renewable energy business in different countries where it operates. “We’re growing all our traditional businesses, including upstream, but the renewables business is going to grow so much faster than you would want eventually to have partnerships in different countries, or different projects, without necessarily having to ...

The world’s largest solar company warned that stricter US import requirements for panel shipments will continue to create disruptions to the American market through next year. Longi Green Energy Technology Co. projects between 20 to 50 gigawatts of US solar market demand in 2023, the Chinese company said in an earnings briefing, according to a note by Daiwa Capital Markets. ...

European natural gas advanced again with traders focusing on weather forecasts, while outages at key facilities highlight the risk of potential winter shortages. Benchmark futures jumped as much as 10%, extending their rebound from losses earlier in the week, with temperatures dropping closer to seasonal levels after an unusually mild October. Some forecasts also point to colder-than-normal conditions in northwest ...

Adani Enterprises Ltd., the flagship firm for billionaire Gautam Adani’s conglomerate, posted an almost 117% rise in quarterly profit, giving it more firepower to boost investments in numerous new businesses it’s nurturing. The Ahmedabad-based company reported a net income of 4.6 billion rupees ($55.5 million) for the quarter ended Septmeber 30, it said in a filing on Thursday, compared to ...

Abu Dhabi / WAM   The United Arab Emirates has made significant improvements in developing and strengthening its occupational radiation protection infrastructure since the 2015’s Occupational Radiation Protection Appraisal Service (Orpas) visit to the UAE, according to the experts of the International Atomic Energy Agency (IAEA) who concluded a week-long follow-up review of the UAE’s radiation protection arrangements. At the UAE ...

Abu Dhabi / WAM  Adnoc Drilling company on Wednesday awarded a five-year framework agreement valued at up to $1.6 billion for Integrated Drilling Fluids Services (IDFS) to support the expansion of Adnoc’s lower-cost and lower-carbon intensive production capacity, as it continues to respond to growing global demand for energy. The award covers Adnoc’s onshore and offshore fields and will see ...

Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), announced that the entity had added 300 megawatts of photovoltaic solar energy in 2022 from the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, the world’s largest single-site solar park using the Independent Power Producer (IPP) model. The solar park ...

Nigeria plans to auction deep offshore oil and gas licenses for the first time in 15 years, according to a senior government official. The West African country will launch a bidding round for seven deep-water blocks in November, the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, said by phone. The government issued dozens of such permits ...

Abu Dhabi / WAM  Borouge Plc on Friday announced its financial results for the nine-month and three-month periods ended September 30, with the company maintaining positive year-to-date performance driven by strong sales volumes. Borouge reported a 13.5% increase in revenue to AED18.84 billion ($5.13 billion) for the nine months to September 30, versus the same period in the prior year. ...