Energy

  Bloomberg Uniper SE plans to keep importing natural gas from Russia for another decade, even as Europe seeks to cuts its energy dependency on the country. The German utility — one of the continent’s largest buyers of Russian gas — has contracts with Gazprom PJSC that will expire in the middle of 2030s, CEO Klaus-Dieter Maubach said at Uniper’s ...

  Bloomberg European natural gas futures rose, with traders focused on supplies from Russia and the continent’s imports of liquefied fuel. The European Union said that companies can keep importing Russian gas without breaching sanctions, easing concerns that shipments from the bloc’s biggest provider might be cut amid a payment dispute. But the market is grappling with the implications of ...

  Bloomberg Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp are throwing cold water on their plans to turn Brazil into a profit center. In the past three years, Shell has drilled three exploration wells without finding any commercial volumes, said Marcelo de Assis, the head of Latin American upstream research at consultant ...

  Bloomberg The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to new projections from the European Commission. Under a severe scenario, the currency bloc’s economy would expand about 0.2% this year, with inflation topping 9%, as governments struggled to ...

Bloomberg Ant Group Co has completed the first sustainability-linked loan arrangement in China’s tech sector. The Chinese fintech company spun off from Alibaba Group Holding Ltd has arranged a sustainability-linked revolving credit line with French bank BNP Paribas SA, according to a statement. Sustainability-linked loans (SLLs) have interest rates that change depending on if corporations are able to meet certain ...

Bloomberg New Zealand will accelerate its adoption of electric vehicles and investigate hydrogen as an alternative energy source as it seeks to phase out fossil fuels and play its role in mitigating global warming. Announcing its first emissions reduction plan in Wellington, the government said it will initially allocate NZ$2.9 billion ($1.8 billion) over four years to fund a range ...

  Bloomberg The US Commerce Department is deepening its probe into whether solar power companies are circumventing import tariffs, singling out some of the industry’s giants for increased scrutiny. The agency identified eight manufacturers, including industry leaders Longi Green Energy Technology, Trina Solar and Jinko Solar, for mandatory questionnaires to plumb for more information on whether they are skirting US ...

  Bloomberg The global lithium industry needs as much as $42 billion of investment by the end of the decade in order to meet demand for the crucial battery-making material, with attempts to build supply chains outside of China subject to much higher costs, according to a data and market-intelligence provider. The sector will require $7 billion of investment each ...

  Bloomberg After nearly half a century expanding its bread-and-butter business into one of the world’s largest metal smelting operations, Korea Zinc Co is setting its sights on renewable energy to cut costs and drive growth. The Seoul-headquartered zinc, gold, silver and lead smelter plans to invest $6.6 billion over the next eight years developing solar and wind power generation ...

  Bloomberg The European Union could cap natural-gas prices to avoid “unbearably high” costs if Russia, the region’s biggest supplier, significantly limits or cuts off the flow. The European Commission is mapping out energy-market intervention measures as part of a package to replace Russian gas imports after the invasion of Ukraine. It is set to recommend agreeing on common principles ...