Energy

  Bloomberg GreenWish Partners, a Paris-based independent power producer, will invest $280 million to build solar-power plants in Nigeria that are expected to start producing electricity in the first quarter of next year. A plant in the southeastern state of Enugu will produce 100 megawatts, while the company will build two others of 50 megawatts each in the northern Kaduna ...

  Bloomberg China Shenhua Energy Co., the biggest coal miner in the world’s largest producer, jumped the most since 2008 after rewarding investors with a special dividend as it posted its first profit growth in four years. Shares in Hong Kong closed 16 percent higher at HK$19.14, paring earlier gains of more than 20 percent. The city’s benchmark Hang Seng ...

  Bloomberg Argentina is planning at least four energy auctions this year that are expected to attract as much as $7 billion in investments as president Mauricio Macri seeks to boost generating capacity for both conventional and renewable power plants. The country will hold two auctions for new thermal capacity, one for renewable energy and one for new transmission lines, ...

  Bloomberg OPEC and its allies improved their collective compliance with a supply-cuts agreement last month as deeper reductions from members of the group offset weaker implementation from other producers. The group of oil producers implemented 94 percent of their pledged 1.8 million barrels a day of supply cuts in February, up from 86 percent the previous month, according two ...

  Bloomberg State-owned Qatargas has agreed to double volumes of liquefied natural gas (LNG) it supplies to Poland’s gas firm PGNiG to 2 million tonnes per year at a price that may have positive impact on PGNiG’s bottom line, the companies said. The agreement comes as Poland is struggling to reduce its reliance on supplies of Russian gas, while a ...

  Bloomberg Prices have sunk, stockpiles ballooned and doubts about OPEC’s effectiveness grown, yet Wall Street hasn’t lost faith in oil’s recovery. Crude plunged below $50 a barrel in New York last week on signs that OPEC’s production cuts aren’t clearing a global glut quickly enough, and that US shale drillers are ready to fill in any shortfall. Nonetheless, Goldman ...

  Bloomberg California utilities are losing business to local power authorities that were created to deliver clean power to residents. Pacific Gas & Electric Co., the state’s biggest utility, expects to lose about 7.3 percent of its electric load this year, and potentially 21 percent by 2020, to these so-called community choice aggregators, according to Moody’s Investors Service. The shift ...

  Bloomberg Oil and gas executives have pledged to boost gas domestic gas production in Australia as Prime Minister Malcolm Turnbull seeks to bridge a supply shortfall threatening the nation’s energy security. The commitments by companies including Royal Dutch Shell Plc, ExxonMobil Corp. and Total SA will mean Australia avoids a projected shortfall of gas-powered electricity generation in the summer ...

  Bloomberg Oil rebounded above $48 a barrel amid a reported decline in US crude stockpiles as the International Energy Agency said the market needs time to drain a global inventory glut. Futures advanced as much as 2.4 percent in New York after slumping almost 11 percent the previous seven sessions. US inventories fell by 531,000 barrels last week, the ...

  Bloomberg Engie SA is considering an offer for German renewable-energy utility Innogy SE as its majority owner RWE AG weighs strategic options, people familiar with the matter said. The former French natural-gas monopoly is speaking to advisers and hasn’t made a final decision about whether to proceed, the people said, asking not to be identified because the deliberations are ...