Energy

BLOOMBERG  Shell Plc sees a long-term role for natural gas in the world’s energy mix and aims to expand in key growth markets as Chief Executive Officer Wael Sawan revises the company’s strategy. Liquefied natural gas (LNG) teams are being urged to do more business in China and India, and the company is providing higher bonuses for deals struck in ...

BLOOMBERG  Severe power shortages in northern Vietnam are beginning to ease, allowing manufacturers to extend operating hours after blackouts curtailed production. Thousands of factories in the region, which houses plants owned by Samsung Electronics Co and suppliers to iPhone-maker Apple Inc, have gone without sufficient power since nationwide outages began last month. Northern provinces, including Bac Giang, have been worst ...

BLOOMBERG  The SoftBank-backed solar power startup Enpal said that it has raised €430 million ($464 million) in debt funding to finance its leasing business. DWS and Phoenix Life Limited joined existing investors BlackRock and ING in the refinancing round, according to the company. BlackRock upped its commitment in this round by €100 million, and ING increased its own by an ...

SAUDI ARABIA /GULF TIME TCR Arabia is a company that specializes in engineering services specifically in the field of Material Testing, Advanced Non-Destructive Testing and Metallurgical investigation. Founded in 2007 as a joint venture between TCR Engineering Services (India) and GAS Arabian Service (Saudi Arabia). The company is based in Saudi Arabia and has rapidly established a reputation for reliability ...

BLOOMBERG  Standing by vast, ash-coloured coalfields, miner Rabi Behera expressed few doubts about the job at hand. To cope with increasingly brutal temperatures, India has to keep its power grid standing— and for now that means digging up ever expanding quantities of the dirtiest fossil fuel. “It’s hard to survive without electricity during the summer,” he said, giant trucks rumbling ...

BLOOMBERG  If the world is to reach net zero emissions by mid-century, we will need to install several times more wind turbines and solar panels than we are adding today, as well as many times more batteries, hydrogen electrolysers and heat pumps. That requires manufacturing them first. A new analysis from the International Energy Agency (IEA) shows the current industrial ...

BLOOMBERG  A warming world is making the need to stay cool more pressing. Hot countries are getting hotter, tipping normal summer temperatures into dangerous territory more frequently. Temperate countries are experiencing heat waves that were once unthinkable. Globally, an estimated 1.2 billion rural and urban poor are at risk because they currently lack access to cooling, including refrigeration and air ...

BLOOMBERG German public-sector workers struck a wage deal with employers, capping a confrontational series of negotiations that saw repeated strikes in Europe’s largest economy. Staff will receive staggered one-time payments totalling  $3,300 through February 2024. After that, salaries will rise by 200 euros on a permanent basis, and then be increased by 5.5%. The agreement covers about 2.5 million employees ...

BLOOMBERG Tesla Inc was found by a Los Angeles jury not to be at fault following a trial over a driver’s claim that the Autopilot feature in her Model S caused her to veer into the center median of a city street, according to a court clerk. Justine Hsu, who suffered face injuries in the 2019 crash, alleged negligence, fraud ...

BLOOMBERG The European Union (EU) is set to propose a ban on many goods transiting through Russia as the bloc attempts to tighten the screws on the enforcement of sanctions imposed over the past year. The transit ban would extend to numerous technologies and other goods, including several types of vehicles, but not all items would be barred from travelling ...