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Biden’s offshore wind ambitions hit new snag

Bloomberg Shell New Energies, EDP Renewables and Engie asked regulators for a delay in the planning of a proposed joint-venture offshore wind farm, the latest potential setback to President Joe Biden’s goal of powering millions of homes from Atlantic gusts. The sharp spike in interest rates presents “significant challenges” to Mayflower Wind’s economics, the project’s lawyers said in a filing ...

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Top US gas producer EQT saw output drops of 30%

  Bloomberg EQT Corp, the largest US natural gas producer, saw production drop by as much as about 30% during the recent bout of extreme cold that caused disruptions for some of its wells in the Appalachian Basin. The drillers’ daily output fell by between 1 billion and 1.5 billion cubic feet per day during the winter storm, Chief Executive ...

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Exxon sues EU in bid to block windfall tax against oil firms

Bloomberg Exxon Mobil Corp is suing the European Union in a push to eliminate a new windfall tax against oil groups, arguing the bloc does not have legal authority to impose the levy. The lawsuit is a major response to the tax from the oil industry that has reaped record profits this year as western governments have sought to bring ...

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RWE inks LNG supply deal with Sempra

  Bloomberg Germany’s RWE Supply & Trading GmBH agreed to a 15-year contract with Sempra Infrastructure to purchase liquefied natural gas from a production terminal set to open in Port Arthur, Texas, in 2027, according to both companies. With the deal, RWE said it had secured sufficient LNG volumes to make full use of its booked regasification capacities for an ...

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Americans’ wallets set for hit from winter home-heating bills

Bloomberg Wholesale power prices surged more than 6,000% in parts of the country during the worst of the recent brutal cold snap — a sign that Americans are likely to face significantly higher winter heating costs once the bills get mailed out. Electricity prices in Houston jumped to almost $3,700 a megawatt-hour on December 23, or a 65-fold increase from ...

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EU’s carbon tariff to hurt Asia firms, says JSW Steel

Bloomberg The European Union’s planned carbon tax on steel is a trade barrier that India and other governments will probably oppose, according to one of the biggest exporters of the alloy in the South Asian nation. The Carbon Border Adjustment Mechanism, or CBAM, which imposes duties on certain imports from countries that don’t price carbon the way Europe does, will ...

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Tencent wins nod for games as China crackdown softens

  Bloomberg Tencent Holdings Ltd secured a green-light for another clutch of major game titles, reinforcing hopes Beijing is easing a crackdown on the world’s largest mobile gaming arena. It was only the second time the Chinese tech giant gained licenses for blockbuster titles since Beijing resumed issuing them in April. “Pokémon Unite,” developed in tandem with Nintendo Co, was ...

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Fosun lets China users register for Covid vaccine in Hong Kong

Bloomberg BioNTech SE’s Chinese partner has started allowing mainland Chinese to register for its mRNA Covid-19 vaccine in Hong Kong ahead of a border reopening early next month that may spark a wave of visitors to the financial hub. Shanghai Fosun Pharmaceutical Group Co is letting people register for the shot through its app and online, with the company asking ...

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Honda Motor hybrids in China face recall

  Bloomberg Honda Motor Co will recall more than 200,000 cars made in China, citing issues with brake pedal sensors that could make it harder to stop. The Japanese carmaker will recall 105,608 hybrids made between October 2018 and September 2020 at its manufacturing venture with Dongfeng Motor Group Co, China’s State Administration for Market Regulation said in a statement. ...

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