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Bloomberg Snowy Hydro Ltd., Australia’s largest hydropower producer, is considering raising as much as A$2 billion ($1.6 billion) by the end of 2018 for a project expansion, which will boost its 4,100 megawatt capacity by as much as 50 percent. The company, jointly owned by the federal government and the Victorian and New South Wales state governments, has begun talks ...

Bloomberg Oil shook off some of the fears that had rattled the market to extend gains above $62 a barrel as the dollar weakened and global equities rebounded from a rout. Futures rose as much as 1.4 percent in New York after advancing 4.2 percent last week, propped up by a relief rally that helped US equities to their best ...

Bloomberg Three of the world’s biggest oil companies called on Norway to help maintain funding for carbon capture and storage (CCS) technology that is stagnating amid concerns about whether it can ever be cost-effective. The chief executive officers of Royal Dutch Shell Plc, Total SA and Norway’s state-controlled Statoil ASA gathered on the sidelines of an energy conference in Oslo ...

Bloomberg Kenya will introduce a royalty for geothermal-power producers under a proposed new law. Fees will be levied at a rate of 1 percent to 2.5 percent of revenue generated from the energy source within the first decade of a geothermal license being issued, according to the draft Energy Bill presented to lawmakers. The levy will then climb to between ...

DUBAI / Reuters State-owned Oman Gas Co. is working with a group of banks to raise a bridge loan of slightly over $1 billion, which will later be refinanced via a US dollar bond issue, sources familiar with the matter said. The natural gas transport company, which was bought by state-owned Oman Oil Company in 2013, will use the financing ...

Bloomberg Add independent Nigerian drillers to the list of oil producers itching to supply more crude at a time when OPEC and allies like Russia are trying to restrict output and prop up prices. Domestic Nigerian producers are aiming to pump almost 250,000 barrels a day more crude by 2020 as part of a wider plan for the nation to ...

Bloomberg While TransCanada Corp. continues to weigh whether to build its long-delayed Keystone XL oil pipeline, the company announced another major expansion of its natural gas system in Alberta. TransCanada will spend C$2.4 billion ($1.9 billion) to expand its NGTL System, adding 1 billion cubic feet of daily shipping capacity, according to a statement. The company struck binding agreements with ...

Bloomberg SunPower Corp. is willing to sell about $1.4 billion in long-term solar leases to raise $200 million now. The 45,000 contracts stretch out for as long as two decades, generating monthly payments from customers that altogether installed 400 megawatts of rooftop panels. SunPower took a non-cash charge of $474 million in the fourth quarter as a result, the San ...

Bloomberg Oil posted its first weekly increase since last month as rebounding equity markets eased concern about economic growth and a weakening dollar boosted the allure of commodities priced in the US currency. Futures in New York rose 0.6 percent and gained 4.2 percent this week. The greenback touched a three-year low earlier in the day before edging higher, though ...

KUWAIT / WAM Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, announced the UAE’s offer to provide deve- lopment aid worth $500 million, to assist international efforts to reconstruct Iraq. During his speech as head of the UAE delegation at the ‘Kuwait International Conference for the Reconstruction of Iraq,’ he explained that the support includes $250 million ...