Energy

Bloomberg Mid-tier Chinese coal miner Shanxi Coal International Energy Group is planning a significant investment in the competing business of making high-tech solar power cells. The state-owned firm will lead a joint venture to build a 3-gigawatt solar manufacturing plant for 3.19 billion yuan ($461 million), according to a statement. It’s the first phase of a project that will grow …

Bloomberg Blackstone Group will see a $5 billion gain from selling a stake in the largest liquefied natural gas export terminal in the US. The firm’s private equity business is unloading its stake of just over 40% of Cheniere Energy Partners LP to Brookfield Asset Management Inc and its own affiliated infrastructure group, according to a filing. Brookfield negotiated the …

Bloomberg US oil exports to China are set to reach a record next month in a sign that Beijing is stepping up purchases to meet its commitments under a landmark trade deal. About 19 tankers have signed provisional bookings to load American crude for China in September, according to shipping fixtures, which are subject to change. If all of them …

Bloomberg Botswana and Namibia are set to sign an agreement to develop solar projects of as much as 5,000 megawatts through installations built across their mostly flat, sunny landscapes. The southern African nations are working with US government initiative, Power Africa, to help structure the deal, Namibian Mines and Energy Minister Tom Alweendo said in an interview. The electricity will …

Bloomberg German turbine makers and natural gas companies are exploring producing green hydrogen in the Democratic Republic of Congo, home to what could become the world’s largest hydropower complex. Should the project go ahead Congo would join Morocco as a potential site for hydrogen production in Africa. The North African country this year signed a memorandum of understanding with Germany …

Bloomberg A giant wind farm being developed off the coast of the UK will sell some of its power to energy trader Danske Commodities A/S. Under the 15-year deal, the subsidiary of Equinor ASA will trade and balance power from 480 megawatts of the Dogger Bank wind farm, about 13% of its capacity. It’s a key step as the developers …

Bloomberg Iraq plans to sign a memorandum of understanding with Chevron Corp to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter. The deal formalises Chevron’s interest in exploring the eastern and western parts of Nasiriyah, the capital of Dhi Qar, the person said. It would exclude areas of the …

Bloomberg Tongwei Co halted output at a polysilicon factory in southwest China because of flooding, the latest blow to the solar supply chain that has seen rare cost increases this summer due to disruptions. Tongwei, the world’s No. 3 polysilicon producer last year, said it isn’t clear when the Sichuan province plant will restart, and didn’t say whether it sustained …

Bloomberg Sasol Ltd reported an annual loss after $6.5 billion in asset writedowns and the scheduling of a rights issue as its struggles continued amid the coronavirus pandemic. The shares slumped as much as 9.6%. Lower demand and prices for its products due to the virus, compounded by problems at its US Lake Charles chemical project, is making a bad …

Bloomberg Chaparral Energy’s filed for bankruptcy protection for the second time in four years, paving the way for bondholders to take control of the Oklahoma driller in the aftermath of sluggish oil prices. The company filed for Chapter 11 in US Bankruptcy Court in Delaware as it seeks to restructure its balance sheet and raise new money. Almost 80% of …