September, 2022

• 17 September

  Germany seizes assets of Russian oil giant Rosneft

  

  Bloomberg Germany is taking control of Russian oil major Rosneft PJSC’s German unit, including stakes in three oil refineries, as Chancellor Olaf Scholz reacts to the unprecedented energy crisis sparked by the invasion of Ukraine. Grid regulator BNetzA will become trustee of RN Refining & Marketing GmbH and Rosneft Deutschland GmbH, which account for around 12% of Germany’s oil processing ...

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• 17 September

  Eskom CEO sees South African gas as key in transition from coal

  

    Bloomberg Eskom Holdings SOC Ltd, South Africa’s state power utility, favors burning more domestically sourced gas as it transitions away from coal, its CEO Andre de Ruyter said. With the structure of the nation’s demand changing and more renewable technology being added to the grid, additional storage in the form of batteries will be needed along with power that can ...

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• 17 September

  European gas declines as bloc prepares details for intervention

  

    Bloomberg Natural gas prices fell as the European Union started outlining details of its intervention into an unprecedented energy crisis, including a proposal for targets to reduce electricity demand. Power prices also slumped. Benchmark gas futures declined as much as 9.3% to the lowest in a month. Still, prices remain almost eight times higher than normal for the time ...

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• 17 September

  Xi’an Longi Green Energy to send solar panels into space

    Bloomberg Longi Green Energy Technology Co, the world’s biggest solar technology manufacturer, will send panels into space as the first step in plans to test the feasibility of harnessing the sun’s power in orbit and transmitting it back to Earth. The Xi’an-based clean energy giant, which has helped China dominate the solar industry and drive down costs, will also ...

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• 17 September

  Biden pledges $50m for floating wind turbines

    Bloomberg The Biden administration set a new goal for deploying floating wind turbines in deep waters off US coasts and unveiled nearly $50 million in initiatives designed to propel the nascent technology. The effort is aimed at positioning the US to be a world leader in selling and using floating wind turbines that can generate electricity in deep waters ...

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• 17 September

  Netherlands buys up diesel before winter, sanctions on Russia

  

    Bloomberg The Netherlands is purchasing millions of barrels of diesel in preparation for what is set to be a winter like no other. The country’s petroleum stockpiling agency, COVA, has issued tenders seeking more than three million barrels of diesel for delivery before the end of the year, with potentially more to come. That comes as the European Union ...

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• 17 September

  A weakened Vladimir Putin is no use to Russia

  

  As Ukrainian troops probe Russian defenses along the entire front and only the Wagner Group mercenaries continue a small-scale offensive operation in the Donetsk region, the initiative in the Russo-Ukrainian war is firmly in the hands of the invaded, not the invader. While that can still change, perhaps more than once, it’s a good moment to consider whether the man ...

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• 17 September

  Will Wisconsin’s India trip be great?

  

  The project is fantastical: A $19 billion investment into semiconductor and display-panel sectors, with the creation of 100,000 jobs in a state with little experience in technology manufacturing. If voters and taxpayers in India’s northwestern Gujarat state are excited about this “landmark investment” they ought to read up on recent Wisconsin history. The US state bought into a similar pipe ...

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• 17 September

  RBA faces much bigger shock than inflation

    If ever there was a time for the best and brightest to make policy, the epic struggle underway against inflation might be a good one. Yet Australia’s central bank is shackled to an anachronistic personnel selection that has left it hostage to an era when little scrutiny was expected — or demanded. Some change is almost certainly coming, but ...

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• 17 September

  Microsoft deal a tough target for trustbusters

    The UK is taking on a tough target in challenging Microsoft Corp’s $69 billion acquisition of video-game publisher Activision Blizzard Inc. While US and European regulators have yet to opine on the transaction, competition watchdogs are generally becoming more interventionist — especially in the case of tech giants. This deal offers a possible high-profile scalp. Enter the UK Competition ...

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