Regional News

Bloomberg In Pakistan’s Tharpakar desert, Chinese and Pakistani workers toil in the blistering heat to complete the construction of a massive open pit coal mine and an adjacent 660 megawatt power plant four months before schedule. When Engro, one of Pakistan’s largest conglomerates, which is partnering with China, begins generating electricity from the plant in December it will hit a …

Bloomberg India’s finance ministry said a 25 percent safeguard duty on solar cells and modules imported from China and Malaysia has been imposed, providing some clarity on the protectionist move that had been caught up in court battles. The tariff will be imposed in accordance with a notification originally published on July 30, the finance ministry said. The development follows …

Bloomberg After supplying Europe’s biggest economy with natural gas for more than four decades, Norway is preparing to defend its share as the world’s biggest producers all vie for a larger slice of the $21 billion market. Russia began building a second giant pipeline to Germany and US President Donald Trump is turning up the rhetoric in an attempt to …

Bloomberg Crude climbed to $80 a barrel in London for the first time since May amid signs that global supplies are shrinking. Brent futures rose as much as 1.4 percent on Wednesday, while the US crude benchmark added as much as 2.9 percent. US efforts to isolate Iran have disrupted shipments from OPEC’s No. 3 supplier at the same time …

Bloomberg Flynas said it will soon start recruiting Saudi women to work as co-pilots. The Riyadh-based airline said it will be the first among Saudi carriers to recruit women in senior positions. The move aims to enable Saudi women to have a greater role in supporting the kingdom’s economy, CEO Bandar Almohanna said. Under Crown Prince Mohammed Bin Salman, Saudi …

Bloomberg AutoGrid Systems Inc., a California company developing software to manage power on the grid, said it closed a $32 million round of financing as it expands in North America, Asia and Europe. The Series D round included new investors CLP Holdings, Germany utility Innogy SE, Danish renewable power developer Orsted A/S and power producer Tenaska, according to a statement …

Bloomberg The Spanish government is exploring ways to persuade investors to finance a $116 billion transformation of its energy system as it tries to move beyond past policy mistakes that led to widespread losses and lawsuits. The Socialist administration is drawing up plans to expand renewable power generation, modernise its transport system and refit buildings to make them more energy …

Bloomberg Hurricane Florence may make gasoline more expensive along the East Coast as drivers fuel up ahead of the storm, while missing key refinery and storage hubs. “Motorists can expect spikes in pump prices to be brief, but possibly dramatic,” Jeanette Casselano, a spokeswoman for AAA, said. “A storm like this typically causes an increase in fuel purchases in the …

Bloomberg European oil majors are looking for more than just deepwater gushers in Brazil. They also plan to profit from the country’s abundant wind and sunshine. Royal Dutch Shell Plc, Total SA and Equinor ASA have all pledged in recent weeks to invest in Brazilian renewables. The push could more than double wind and solar’s share of Brazil’s energy mix …

Bloomberg Mexico’s next president Andres Manuel Lopez Obrador will allocate $3.9 billion in the budget next year to oil extraction in a bid to resuscitate flagging output. “We are going to allocate budget resources, we are going to make an effort to adjust current spending in order to have more public spending and from the private sector,” said Lopez Obrador, …