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Bloomberg China continues to announce new steel mills and coal-fired power plants even as the country maps out a path to zeroing out heat-trapping emissions. State-owned firms proposed 43 new coal-fired generators and 18 new blast furnaces in the first half of 2021, the Centre for Research on Energy and Clean Air said in a report. If all approved and …

Bloomberg The UK’s long-promised strategy for reducing carbon emissions from heating drafty homes will be published next month, Business Secretary Kwasi Kwarteng said, as the government gears up to host a key climate change summit in the fall. During a media round, Kwarteng suggested the so-called heat and buildings strategy may include a plan for phasing out gas boilers. He …

Bloomberg After years of waiting, Infrastructure Week finally happened. US senators reached a bipartisan agreement on a $550 billion infrastructure bill, working through the weekend to finalise the text. Majority Leader Chuck Schumer said the bill could be voted on “in a matter of days.” While Congress was debating the size of the check, researchers at Princeton University’s Andlinger Center …

Bloomberg Exxon Mobil Corp’s knockout second-quarter results did little to entice investors because much of the extra cash coming from soaring energy and petrochemical prices will be used to pay down debt rather than reward shareholders. The oil giant and rival Chevron Corp swung to their biggest profits since pre-pandemic days, fuelled in large part by stellar performances from their …

Bloomberg Devon Energy Corp and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron Corp is also among companies considering bids for the assets, which are largely located in West Texas, the people said. …

Bloomberg It’s a massive new oil refinery in an era focused on renewable energy. It’ll cost more than promised. It’s behind schedule. And now, public documents reveal that Dos Bocas — a favoured project of Mexican President Andres Manuel Lopez Obrador for his home state of Tabasco — is being built in a zone the state oil firm had promised …

Bloomberg The world’s biggest platinum miners are ramping up plans to build renewable energy plants to free them from power outages that have plagued South Africa for more than a decade and to reduce their carbon footprint. Sibanye Stillwater Ltd, the No. 1 platinum miner, Impala Platinum Holdings Ltd and Anglo American Platinum Ltd said they plan to scale up …

Bloomberg FirstEnergy Corp surged the most in more than five months after the Ohio utility reached an agreement with federal prosecutors over a corruption case involving a $1 billion state bailout for nuclear power plants. Under a deferred-prosecution agreement, FirstEnergy admitted that it conspired with public officials and others to pay millions of dollars in bribes. The company agreed to …

Bloomberg The European Union’s climate plan might be the most ambitious attempt yet to force a major economy to abandon fossil fuels, and by some measures it still won’t be enough to keep global temperatures from rising. But that’s no reason to despair. The Fit for 55 package — named for its goal of cutting emissions at least 55% from …

Bloomberg A heat wave across some of China’s biggest industrial provinces has pushed local electricity consumption to unprecedented levels, sending thermal coal futures toward record highs. The power load in the eastern province of Zhejiang near Shanghai surpassed 100 million kilowatts per hour for the first time, the State Grid said in its newspaper. Usage has also hit records in …