June, 2022

• 24 June

  Oil producers plan world’s biggest floating wind farm

  

    Bloomberg A group of oil and gas producers including Equinor ASA, Shell Plc and TotalEnergies SE are considering building what would be the world’s largest floating wind farm off Norway to power their fossil-fuel activities. The companies are looking at options to build a 1-gigawatt wind farm to power operations in the Troll and Oseberg oil and gas fields, …

  Read More »
• 24 June

  Europe power prices soar to 6-month high

  

    Bloomberg European power prices surged to the highest level since December after Germany took a step closer to rationing natural gas supplies amid cuts to flows from Russia. Rising gas prices have been pushing up the cost of electricity across Europe, fuelling inflation and increasing the economic burden on businesses and households still recovering from the pandemic. German power …

  Read More »
• 24 June

  BHP scraps thermal coal exit

  

    Bloomberg BHP group u-turned on its plan to exit from thermal coal, after surging prices made the assets more valuable and a shift in investor attitudes has reduced pressure on the company to stop mining the dirtiest fuel. The world’s biggest resources companies and their shareholders have been grappling for years with the question of whether to get out …

  Read More »
• 24 June

  UK agency to invest $200m in African hydropower projects

  

    Bloomberg The UK’s development finance agency will invest about $200 million in African hydroelectricity projects to boost the continent’s renewable energy portfolio. British International Investment Plc, formerly CDC Group, will invest into a joint venture between Norway’s Norfund AS and Scatec ASA to deliver about 675 megawatts, its largest backing for water-generated power, the fund said. Norfund plans to …

  Read More »
• 24 June

  Italy may trigger emergency gas plan

    Bloomberg Italy may trigger its emergency gas plan as soon as next week if Russia continues to curb supplies, a move that may involve a bigger reliance on the dirtier fuels. If Gazprom PJSC doesn’t restore its gas supplies to Italy by mid-week, the government may initiate an emergency phase for its market, according to people familiar with the …

  Read More »
• 24 June

  Japan to withdraw financing of key coal projects

  

    Bloomberg Japan will withdraw financing for key coal-fired power plant projects in Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out of the dirtiest fossil fuel. Asia’s second-largest economy will stop providing government-backed yen loans to the Matarbari 2 coal expansion project in Bangladesh and the Indramayu plant in Indonesia, the country’s Foreign Ministry said in a …

  Read More »
• 24 June

  Tap sees uncertain market driving key investor search

  

    Bloomberg Portugal’s state-owned airline Tap SA said a new investor would put it on a more solid footing as it pushes ahead with a restructuring program amid higher fuel costs and increasing geopolitical uncertainty. “It’s a very difficult market,” Chief Executive Officer Christine Ourmieres-Widener said. “Fuel costs are increasing. We could have wars, we could have pandemics, so being …

  Read More »
• 24 June

  Lufthansa slashes 2,200 flights over staff shortages

  

  Bloomberg Deutsche Lufthansa AG cancelled 2,200 flights after a wave of coronavirus infections worsened staffing shortages, adding to Europe’s travel chaos as the crucial summer vacation period gets under way. Germany’s flagship airline scrapped both domestic and European routes for July and August, a spokesman said. That follows 900 cancellations announced earlier this month. Lufthansa fell as much as 3.3% …

  Read More »
• 24 June

  South Africa sued over $3 sale of troubled national airline

  

  Bloomberg South Africa’s government and national airline are being sued by a little-known investment firm, which wants the sale of a majority stake in the carrier scrapped and re-run due to a lack of transparency. This year’s acquisition of 51% of South African Airways (SAA) by the Takatso Consortium — made up of a local jet-leasing company and a private-equity …

  Read More »
• 24 June

  British Airways staff at Heathrow vote to strike over pay

  

  Bloomberg British Airways (BA) workers at London Heathrow airport are set to strike in a dispute over pay, adding to a wave of industrial action across Europe that threatens to unleash travel chaos in the region this summer. The GMB and Unite unions said hundreds of BA check-in staff backed walkouts during the peak vacation period after the carrier refused …

  Read More »