Energy

  Bloomberg Saudi Arabia will start construction of a green hydrogen plant as soon as this month as it pushes ahead with plans to export the fuel in about four years. The kingdom is on track sell carbon-free hydrogen from a $5 billion project in Neom by 2026, according to Peter Terium, the head of energy and water for the ...

  Bloomberg The UK held exploratory talks with Electricite de France (EDF) SA about the possibility of keeping the West Burton A coal-fired power plant generating beyond the end of September, when it’s due to close. The talks are at a very early stage, according to a person familiar with the matter. As things stand, EDF is running down stockpiles ...

  Bloomberg San Miguel Corp will build two gas-fired power plants in central Philippines for $1.14 billion) as the nation’s largest conglomerate shifts away from coal. Indirect subsidiary Prestige Power Resources Inc will construct a 600-megawatt combined cycle gas plant in Leyte province for 41.5 billion pesos, while another indirect unit Reliance Energy Development Inc is planning a 300-megawatt plant ...

  Bloomberg BP Plc is trying to block development of part of a giant wind farm in waters off England’s east coast, according to Denmark’s Orsted A/S. Both companies have secured rights to the seabed about 70 kilometres (44 miles) from the Yorkshire coast. Orsted, the world’s largest developer of offshore wind, is seeking to build a project using the ...

Bloomberg UK households face a 38 billion pounds ($50 billion) hit from a surge in electricity and gas costs exacerbated by Russia’s invasion of Ukraine, the Financial Times newspaper reported. The increase for the 2022-23 year will be equivalent to a six pence rise in the basic rate of income tax, it said, citing an estimate by Aurora Energy Research ...

  Bloomberg The French government is considering whether to revive an ambitious plan to nationalise debt-laden Electricite de France (EDF) SA and reorganise its business with a focus on nuclear production, people with knowledge of the matter said. The energy market chaos exacerbated by the Russian invasion of Ukraine is giving fresh impetus to France’s long-mooted push to restructure its ...

  Bloomberg China Three Gorges Corp is exploring an initial public offering of its Brazilian unit as the Chinese energy giant seeks to raise funds for expansion in Latin America, according to people familiar with the matter. The Chinese state-owned company has held talks with prospective advisors to prepare for the potential share sale in Sao Paulo, which could raise ...

  Bloomberg Indonesia, the world’s top coal exporter, is exploring new markets outside its typical strongholds in Asia-Pacific as buyers seek alternatives to Russian supplies after its invasion of Ukraine. Miners have been contacted by buyers in some Western and European countries as a substitute for Russian supplies, Hendra Sinadia, deputy executive director of the Indonesian Coal Mining Association, said ...

  Bloomberg The head of South Africa’s state power utility held discussions with the World Bank as it explores options for transitioning from coal-fired stations to cleaner sources of energy. Eskom Holdings SOC Ltd CEO  Andre de Ruyter travelled to the bank’s headquarters for the talks. The power utility supplies more than 90% of the country’s electricity, the bulk of ...

  Bloomberg Natural gas in Europe declined as traders weighed the region’s reluctance to sanction Russian supplies and the potential easing of retaliatory action by Moscow. Benchmark Dutch futures fell as much as 21%, after swinging wildly between gains and losses. While the European Commission has said it plans to reduce Russian gas imports by two-thirds this year, finding alternatives ...