Energy

  Bloomberg Electricite de France (EDF) SA warned that unusually warm river temperatures are likely to force it to reduce nuclear output at time when about half the country’s reactors are already offline. With air temperatures in Paris forecast to climb above 25 degrees celsius (77 Fahrenheit) this weekend, some of the rivers used to cool EDF’s nuclear power plants ...

Bloomberg Gazprom has written to its European clients seeking to reassure them that they can keep paying for gas without breaching sanctions, the latest indication that Russia may be trying to find a way to keep the gas flowing. European companies are scrambling to work out how they can keep buying Russian gas after Moscow demanded payments be made in ...

Bloomberg Among elevated metal prices, lithium stands out, as booming electric-vehicle sales send the battery component skyrocketing. Conspicuously, the world’s biggest mining company has no plans to join the rush. For BHP Group, the frenzied talk about looming lithium shortages in a clean-energy transition will fade given it’s one of the more abundant elements in nature. Ironically, given the silvery-white ...

Bloomberg Lawmakers in the European Parliament’s environment committee agreed a set of draft compromise changes to a sweeping overhaul of the European Union’s carbon market in a push to further strengthen the cap-and-trade program. Representatives of the biggest political groups in the ENVI committee signed off on joint proposals to toughen carbon permit supply controls and improve existing shields against ...

Bloomberg South Africa’s monthly petroleum product imports are expected to as much as triple by next year from pre-pandemic levels as domestic refineries close, according to energy consultant Citac. Africa’s biggest industrialised nation already relies on imports to meet up to 60% of its fuel demand, and any increase in shipments will require improvements to existing storage facilities, ports and ...

  Bloomberg PetroChina Co isn’t seeking any discounted Russian oil and gas and is only purchasing fuel from the country through its existing contracts, company executives said. Deals with Russian counter-parties are operating normally, Chief Financial Officer Chai Shouping said on the company’s first-quarter earnings call. Transactions have continued to be settled in US dollars or euros despite international sanctions ...

  Bloomberg India’s government ordered coal-fired power plants that run on imported fuel to operate at full capacity to address an escalating energy crisis that’s threatening economic growth. The government took the unusual step of invoking a little-used provision in electricity laws to bridge a supply deficit that’s causing widespread blackouts. The order is valid until October 31, the power ...

  Bloomberg Petrobras posted strong first quarter results thanks to growing oil production during this year’s rally, prompting a rebuke from President Jair Bolsonaro who wants it to contain fuel prices ahead of an October election. Bolsonaro called on Petrobras to freeze gasoline and diesel prices, adding that its profits are unacceptable during a crisis. Recently elected Chief Executive Officer ...

Bloomberg Spain’s Seaya Ventures, which has invested in more unicorns than any other venture capital fund in the country, is raising a new fund focused on the sustainable economy and the energy transition. The Madrid-based investment firm aims to raise EU300 million ($315.5 million) for its “sustainable tech” fund, with the Spanish government committing as much as a third and ...

  Bloomberg Germany signed contracts to charter four floating terminals to import liquefied natural gas in partnership with utilities RWE and Uniper as it races to reduce its energy dependence on Russia. Shipping companies Hoegh LNG and Dynagas will each provide two of the LNG terminals — which together have the capacity to convert at least 20 billion cubic meters ...