Energy

Bloomberg Waltersmith Petroman Oil Ltd, a Nigerian independent producer, will open a 5,000-barrel a day capacity modular refinery in Africa’s top crude producer that imports all of its refined-product needs. The company, Nigeria’s first producer from marginal fields, plans to increase output to 30,000 barrels a day in two years, Chief Executive Officer Chikezie Nwosu said at a webinar. Nigeria …

Bloomberg India must stop building coal infrastructure and focus on renewable power generation to aid the global fight against climate change and lift its citizens out of poverty, United Nations Secretary-General Antonio Guterres said. The nation, the biggest coal consumer after China, must invest in a “clean, green transition” as it recovers from the Covid-19 pandemic, Guterres said at an …

Bloomberg Siemens Gamesa Renewable Energy SA has one eye on the future where its wind turbines could play a key role in creating hydrogen. The company, which earlier this year launched the world’s biggest wind turbine, plans to start a pilot project in Denmark to test how its machines could power production of the fuel seen as key to eliminating …

Bloomberg This year’s rally in exchange-traded funds specialising in clean energy is leaving larger peers in the environmental, social and governance (ESG) sector far behind. One example is the $1.2 billion Invesco Solar ETF’s 75% jump this year, which exceeds the 9% climb in the $8.6 billion iShares ESG Aware MSCI USA ETF, the biggest such fund in the ESG …

Bloomberg Hydrogen made from renewable power will be competing on price with producing the gas from fossil fuels within two decades, according to analysis by research firm Wood Mackenzie Ltd. The cost of green hydrogen will drop 64% by 2040, the researchers said. Hydrogen is seen as key to cutting global greenhouse gases as it could eliminate the use of …

Bloomberg Octopus Energy Ltd, the clean energy provider, plans to add millions of new customers this decade on a pace that could soon make it the UK’s largest energy supplier. Octopus Energy hopes to reach about 5 million households in the UK by 2025, according to Chief Executive Officer Greg Jackson, up from about 1.6 million today. The British energy …

Bloomberg A Japanese real estate developer is planning to sell a bond whose coupon increases if it misses environmental targets, in the first issuance of its kind in the nation. Hulic Co plans to offer 10 billion yen ($94 million) of 10-year so-called sustainability-linked bonds in October, according to a filing on Tuesday. If the company isn’t able to meet …

Bloomberg Don’t expect an LNG buying binge ahead of winter from the world’s fastest growing consumer of the fuel. China will likely pull back on spot purchases of liquefied natural gas (LNG) before the peak demand season as a flurry of earlier bargain buying nearly maxed out storage space. “There is a big question about whether demand will recover enough …

Bloomberg Royal Dutch Shell Plc said it’s considering a sale of a Norwegian natural gas supplier, as the energy major continues to selectively dispose of assets. The company is exploring a disposal of its Gasnor unit, a spokesperson confirmed in response to Bloomberg queries. Shell has approached infrastructure funds and private equity firms about a deal, people with knowledge of …

Bloomberg To do its part to help avoid catastrophic climate change, Japan must significantly change its power mix between now and 2030, according to a report by the Asia Investor Group on Climate Change. The country must lift the proportion of renewable energy in its generation to 50%, and nuclear to 20%, by 2030 to meet Paris Agreement goals of …