Energy

Bloomberg Sweden is fighting a draft European climate measure that it says could harm its world-beating green bond market. The European Commission, which wants to steer investors to socially and environmentally sustainable assets, is proposing that only buildings certified as super-energy efficient by national authorities be included in its taxonomy. Being excluded would make financing more expensive. But national energy ...

Bloomberg Royal Dutch Shell Plc agreed to sell a minority stake at a liquefied natural gas export project in Australia to Global Infrastructure Partners (GIP) for $2.5 billion. The oil major will sell a 26.25% interest in the Queensland Curtis LNG Common Facilities in a deal that is expected to be completed in the first half of 2021, the company ...

Bloomberg Danish electrolyser startup Green Hydrogen Systems A/S raised 28 million euros ($34.3 million) to scale up production of the technology that’s at the heart of the European Union’s climate goals. Competition is heating up among makers of the machines to capture a wave of orders that will make up the EU’s first generation of utility-scale green hydrogen production funded ...

Bloomberg Austria’s biggest company, also one of Europe’s greenest utilities, is buying into natural gas pipelines to build a new hydrogen economy for power-hungry industries. Verbund AG’S decision to purchase a network of pipelines this year perplexed some analysts. Unlike German and Italian utilities expanding in green power across the continent, the Austrian utility opted to deploy cash in domestic ...

Bloomberg Liquefied natural gas has made a dramatic rebound from a pandemic-induced demand collapse, and the rally in the heating and power-plant fuel could extend into next year. The onset of colder weather in key importing nations, outages at major production hubs and congestion along global shipping routes have combined to push spot prices in Asia this week to the ...

Bloomberg Clean-energy stocks are surging as the US Congress considers extending tax breaks for wind and solar energy. JinkoSolar Holding Co, one of the world’s biggest publicly traded panel producers gained as much as 16% last week. Sunrun Inc, the biggest US residential solar installer, rose as much as 7.7%. SunPower Corp climbed as much as 12%. Congress has debated ...

Bloomberg Japan will aim to more than quadruple offshore wind generation capacity in the decade to 2040 under plans to meet its mid-century emissions reduction target. The government will seek to lift offshore wind capacity to as much as 45 gigawatts in 2040 from 10 gigawatts in 2030, the Ministry of Economy, Trade and Industry said in a statement. Reaching ...

Bloomberg Australia is studying plans to transform a disused underground coal mine into a pumped hydro facility, part of a wider effort to reuse retiring fossil fuel sites for renewable energy generation. The A$13 million ($9.9 million) pilot trial at the Newstan Colliery, in Fassifern, about 140 kilometres (87 miles) northeast of Sydney, could offer a blueprint for dozens of ...

Bloomberg Royal Dutch Shell Plc, Eni SpA and their partners in the Karachaganak oil and gas venture paid $1.3 billion to settle a long-running dispute with Kazakhstan over revenue sharing. The deal unlocks plans to boost output from the Karachaganak field and funnels additional revenue to the Kazakh economy, which is heading for its first annual contraction in more than ...

Bloomberg Total SE is discussing a plan for 500 voluntary job cuts in France, where the oil company has 35,000 employees, CEO Patrick Pouyanne said. Pouyanne said talks are ongoing. “We’ll see, there’s a negotiation. It could be 300, it could be 700,” he said. He denied that Total has decided on reducing 700 positions, a number given by the ...