Energy

Bloomberg Indian billionaire Gautam Adani is raising $2.5 billion from a deal that includes the sale of a minority stake in his renewables business to French energy giant Total SE, a transaction that may help the tycoon cut group debt. Paris-based Total will acquire 20% of Adani Green Energy Ltd and a board seat as well as a 50% stake ...

Bloomberg Indian energy demand got off to a shaky start in the new year with sales of transport and cooking fuels over the first two weeks of 2021 declining from a month earlier. The sale of diesel — the country’s most-used fuel and a proxy for economic health — dropped during January 1-15 by 6.6% from the same period in ...

Bloomberg California utilities are warning that they may need to cut power to almost 280,000 homes and businesses to prevent live wires from sparking wildfires as high winds are expected to sweep through the drought-weary state. Edison International’s Southern California Edison said 256,000 customers in six counties near Los Angeles face blackouts within 48 hours due to a forecast of ...

Bloomberg After years building out export capacity and hiring traders, producers of liquefied natural gas and commodity trading houses are seizing on an unprecedented surge in the price of the fuel. The combination of a severe cold snap in Asia, supply outages and maritime congestion has propelled spot prices for LNG to previously unforeseen heights. The North Asian price benchmark ...

Bloomberg The Securities and Exchange Commission (SEC) has been largely silent on the financial wreckage of the US shale industry in recent years, but that may be about to change. The top US financial regulator’s reported investigation into how Exxon Mobil Corp values shale assets follows years of concerns about the industry’s rosy projections, which have left hundreds of billions ...

Bloomberg Another big battery project has been announced in Australia, as energy storage developers rush to profit from the nation’s abundant sunshine and wind resources. Origin Energy Ltd issued an expression of interest to firms to supply and install a 700-megawatt facility near the Eraring coal plant in New South Wales, with the first phase planned to start by the ...

Bloomberg BHP Group, the world’s biggest mining company, has invested in a startup company seeking to develop less-polluting ways of making steel. While many in the mining industry have outlined how they plan to curb their own direct pollution, those emissions are a fraction of ones produced by customers, with steelmaking one of the biggest global emitters. Rather than set ...

Bloomberg Ship owners facing looming deadlines to use less-polluting fuels have slashed the number of new vessels on order because they don’t know which alternative technology to switch to. Ammonia, hydrogen, biofuels and electrification are some of the many contenders to power the world’s future merchant fleet, but most are only in the trial stage and won’t be scalable for ...

Bloomberg South African plants owned by Glencore Plc and Petroliam Nasional Bhd that make up 43% of the nation’s oil-refining capacity are expected to stay shut until at least 2022, according to energy consultant Citac. Astron Energy Ltd, a unit of Glencore, has yet to restart the 100,000 barrel-a-day Cape Town refinery after a deadly explosion and fire in July. ...

Bloomberg The UK power market is showing signs of strain. For the fourth time this winter National Grid Plc warned that the buffer needed to ensure security of supply and keep the lights on was too small. While the UK has made swift progress on switching from fossil fuels to renewables, this is the downside to cleaning up its energy ...