Energy

  Bloomberg BP Plc plans to triple its number of offshore wind-farm workers as it expands the business to reach its green goals. Scaling up wind power is key to the UK oil giant’s plans to produce more renewable energy in the coming years to hit net-zero emissions by the middle of the century. BP aims to next year reach ...

Bloomberg European Union member states backed a compromise to use permits from the bloc’s carbon market to help finance a shift away from Russian fossil fuels. Finance ministers gathering in Luxembourg approved a compromise plan drawn up by the Czech government, which holds the EU’s rotating presidency, to free up 20 billion euros ($19.8 billion) of carbon allowances. About 75% ...

Bloomberg The 700-meter wide pool of bubbling water in the Baltic Sea caused by the rupture of the Nord Stream gas pipelines points to a climate disaster. It’s the most visible of three major gas leaks emanating from the pipelines connecting Russia to Germany. Scientists are scrambling to work out just how much methane, one of the most powerful greenhouse ...

  Bloomberg South Africa’s state-owned power utility will reduce power outages over the weekend after diesel deliveries for its open-cycle gas turbines started. Fuel was delivered to PetroSA’s facility in Mossel Bay on the south coast after the vessel berthed Thursday morning, Eskom Holdings SOC Ltd. said in statement on Twitter. The diesel will be transported to the nearby Gourikwa ...

  Bloomberg France is looking to replenish its stockpiles of diesel in coming months, another move by a European country to shore up supplies as winter approaches. The French government wants companies to replenish fuel inventories that were released around June as part of a globally co-ordinated stock-draw. The idea is to refill during October and November, a person familiar ...

  Bloomberg TotalEnergies SE said it could sell a small part of its 20% stake in Adani Green Energy Ltd. to cash in on the jump in the valuation of the Indian renewable energy producer. The French energy giant bought 20% of Adani Green in 2021 for $2 billion, building on a series of previous deals with Indian billionaire Gautam ...

  Bloomberg Brookfield Asset Management Inc. acquired two US renewable-power companies — Scout Clean Energy and Standard Solar — for a total of $1.54 billion and plans to invest as much as $510 million to further develop those businesses. The deals were made by Brookfield Renewable Partners LP, a publicly traded subsidiary of Toronto-based asset manager, and funded by the ...

  Bloomberg Shell Plc’s renewable energy division acquired Daystar Power, an off-grid services provider in West Africa, in its first acquisition of a power firm on the continent. The takeover, which awaits regulatory approval, will enable Shell renewable and energy solutions business to deliver carbon emission reductions and power cost savings to commercial and industrial businesses across Africa, according to ...

  Bloomberg Contemporary Amperex Technology Co. Ltd., the world’s biggest battery maker for electric cars with almost 35% of the market, plans to build a 14 billion yuan ($1.9 billion) manufacturing base in the city of Luoyang in the central Chinese province of Henan. Construction of the project in Henan will take up to three years, CATL said in a ...

  Bloomberg Oil reversed course as the dollar shed some of its strength and risk-on sentiment lifted equity markets. The global oil benchmark rose 1% to trade near $87 a barrel on Monday. Earlier, Brent slipped below $85 a barrel and West Texas Intermediate falls below $80 as the dollar hit an all-time high, which makes commodities priced in the ...