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Bloomberg Hitachi Ltd is poised to withdraw from a proposed UK nuclear power plant, according to Japan’s Mainichi newspaper, the latest blow to the troubled project and the nation’s effort to replace its aging atomic fleet. Hitachi’s board was expected to decide to exit the Wylfa nuclear power project in Wales, Mainichi reported, citing an unidentified person. Work was suspended …

Washington / WAM On this historic occasion, the United Arab Emirates (UAE) signed a peace accord with the State of Israel. His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation signed a peace accord with Israeli’s Prime Minister, Benjamin Netanyahu, on behalf of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan. …

Bloomberg Uganda’s planned oil pipeline will result in more than 12,000 families losing their land and the development threatens sensitive ecosystems, according to research by Oxfam International. The East African nation’s crude industry has “opaque processes” to compensate affected communities, the London-based charity said in a statement. Oil majors and the state should address the issues before the next stage …

Bloomberg Quantafuel AS, a Norwegian company turning plastic waste into motor fuels, jumped the most ever in Oslo trading after finally starting operations at its first plant. The company, which was founded in 2014, has more than tripled in value since listing on Oslo’s Merkur Market in February. It’s now valued at more than $1 billion. Quantafuel started production at …

Bloomberg Egypt has begun talks over plans to sell electricity to Europe and Africa, pressing its advantage as a producer of cheap renewable energy in a bid to become a regional export hub, the head of its sovereign wealth fund said. The nation, which has a surplus of electricity, sees unspecified “power-hungry” countries to the north as possible customers, according …

Bloomberg Russia sees oil prices averaging $50 to $55 a barrel in 2021 as the development of Covid-19 vaccines spurs an economic recovery, said Energy Minister Alexander Novak. That would be an improvement from this year and enough to cover Russia’s budget, but still well below pre-pandemic levels and too low for many of Moscow’s OPEC+ allies. “Globally, big work …

Bloomberg China’s record haul of crude is poised to end as state-issued allowances for imports dwindle, potentially taking the wind out of the uneven recovery across global oil markets. The world’s biggest importer will ship in much less crude in September and October than it did in May and June, with private refiners seeing purchases drop as much as 40%, …

Bloomberg The Trump administration is relaxing Obama-era requirements stemming toxic heavy metal pollution from coal-fired power plants. Under the Environmental Protection Agency (EPA) rule, electricity companies would have more time and flexibility to treat power plant wastewater that contains mercury, arsenic and other toxic heavy metals. Older coal power plants that are shutting down or switching to natural gas by …

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 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 …