Energy

  Bloomberg Indian Oil Corp Ltd, the country’s biggest oil refiner and a large user of hydrogen, expects prices of the cleanest form of the fuel to halve after the government scrapped fees on wheeling renewable power across the country. The offer to waive transmission charges on green energy from one state to the other can reduce costs by as …

  Bloomberg Japan’s biggest steelmaker is calling on Tokyo to provide at least 2 trillion yen ($17.3 billion) in subsidies over almost three decades to meet net-zero carbon targets, as it seeks to stay competitive against China and other global rivals. Nippon Steel needs the money to vie on an “equal footing,” according to Hideo Suzuki, the managing executive officer …

  Bloomberg The UK needs to substantially expand its capacity for storing electricity for longer in order to maintain energy security as it shifts to greener power, according to Aurora Energy Research. As much as 24 gigawatts of long duration electricity storage — about eight times the current installed capacity — may be needed to help integrate intermittent renewable sources …

  Bloomberg Thailand will slash the excise tax on diesel for three months to lessen the impact of soaring global crude prices as inflation emerges as the latest threat to the economic recovery. The cabinet agreed to cut the levy by 3 baht ($0.09) per liter until May 20, Thanakorn Wangboonkongchana, a government spokesman, said in a statement. The lower …

  Bloomberg SSE Plc is set to earn a windfall from the gas-fired power plants it will ensure are available to help keep UK lights on next winter. The utility could make as much as 172 million pounds ($233 million) in an auction that cleared at 75-70 pounds a kilowatt per year, according to calculations using National Grid Plc data. …

  Bloomberg China General Nuclear (CGN) Power Corp is considering selling its portfolio of renewable energy assets in Europe in a deal that could fetch more than $2 billion, people with knowledge of the matter said. The Chinese firm is working with Citic Securities Co on the potential disposal of CGN Europe Energy, said the people, who asked not to …

  Bloomberg ConocoPhillips, one of North America’s largest energy explorers, is considering a sale of operations worth more than $1 billion in the Permian Basin, according to people with knowledge of the matter. The company is working with an adviser to run an auction process for the assets, said the people, who asked not to be identified because they weren’t …

  Bloomberg Reliance Industries Ltd, helmed by Asia’s richest man Mukesh Ambani, aims to be among the largest producers of blue hydrogen at “competitive cost” in its ambitious green-energy transition plan. The Mumbai-based company will re-purpose a $4-billion plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for $1.2-$1.5 a kilogram, according to a presentation. So-called …

  Bloomberg India, the world’s third-biggest energy consumer and a top grower of grains and sugar, targets to end the use of diesel in the farming sector in less than three years. The nation will focus on renewable fuels to achieve its aim of zero diesel use in agriculture by 2024, according to a government statement. India is working toward …

  Bloomberg Denmark’s government will pay a subsidy totaling 1 billion kroner ($153 million) to some of the country’s poorest households in compensation for higher energy costs. Under the Social Democrat minority cabinet’s deal with support from leftist parties, the Nordic country will pay the one-time subsidy to about 320,000 households with an annual income below 550,000 kroner to help …