Energy

Bloomberg Russia has asked buyers from its Sakhalin-2 LNG plant to pay Gazprombank JSC, throwing customers including Japan and South Korea into a dilemma over sanctions that threaten shipments. Sakhalin Energy LLC, the new operator, sent settlement instructions to customers for paying in US dollars to Gazprombank, according to documents seen by Bloomberg. Gazprom PJSC owns just over 50% of ...

  Bloomberg BP Plc is seeking to get rid of its oil assets in Mexico amid a shift in its business strategy towards renewable energy and a challenging political climate in the energy sector in the country. Since winning three exploration contracts in partnerships with France’s TotalEnergies, Equinor ASA, Qatar Petroleum and Hokchi Energy six years ago, BP has sold ...

  Bloomberg Germany is proposing additional energy-saving measures as Chancellor Olaf Scholz’s government seeks to reduce the country’s dependence on Russian natural gas supplies. The Economy Ministry suggested reducing the minimum temperature in offices — in both the public and private sectors — to be lowered to 19 degrees Celsius (66 Fahrenheit) as it seeks to cut gas consumption by ...

  ­­­Bloomberg The German government struck a deal with energy companies to import liquefied natural gas through two new terminals in an effort to alleviate a supply crunch that’s crippling the economy. Economy Minister Robert Habeck signed a memorandum of understanding with Uniper SE and RWE Supply & Trading GmbH, which will operate the floating terminals in Brunsbuettel and Wilhelmshaven, ...

  ­­­Bloomberg The globe is in the grips of a climate crisis as temperatures soar and rivers run dry, and yet it’s never been a better time to make money by digging up coal. The energy-market shockwaves from Russia’s invasion of Ukraine mean the world is only getting more dependent on the most-polluting fuel. And as demand expands and prices ...

Bloomberg Norway is gearing up to limit power exports, an early sign of the tests Europe’s cross-border solidarity will face this winter as the energy crunch deepens. Refilling reservoirs will be prioritised over power production when levels fall below seasonal averages, Energy Minister Terje Aasland said Monday. The country is one of Europe’s top exporters of electricity, sending about a ...

  Bloomberg RWE AG is investing more than it originally planned on building renewable energy capacity to make Europe more energy independent as a worsening crisis threatens the region’s economy. Germany’s biggest power producer plans to spend more than 5 billion euros ($5.2 billion), on green technologies this fiscal year, including wind, solar and batteries, as well as ramping up ...

  Bloomberg Adani Enterprises Ltd plans to invest $5.2 billion in setting up an alumina refinery in the eastern Indian state of Odisha, as Gautam Adani, Asia’s richest man, adds one more business to his rapidly-expanding empire. The flagship company of the Adani group got the approval to build the refinery and a captive power plant in Rayagada for an ...

Bloomberg Neptune Energy Group Ltd.’s chief warned that the UK’s windfall tax on oil and gas profits will threaten long-term investment in the sector, but have limited impact on the firm itself. The government in May slapped a 25% windfall tax on producers’ profits to fund aid to the poorest households amid a cost-of-living crisis. The levy — which will ...

  Bloomberg A closure of the Rhine River could disrupt the daily trade of hundreds of thousands of barrels of oil products, piling yet more pressure on Europe’s energy-supply chain. The water level at Kaub, west of Frankfurt, is forecast to drop below a critical 40-centimeter mark (under 16 inches), and to 33 centimeters. At that point, it becomes uneconomical ...