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Bloomberg Carbon capture, the fossil-fuel industry’s favourite weapon against climate change, has never really caught on because of the cost. That may be about to change. The Internal Revenue Service (IRS) recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology. “It’s ...

Bloomberg A giant Glencore Plc coal project in Australia has been fast-tracked as the nation turns to its vast natural resources to lift the economy out of its first recession in almost three decades. The A$1.5 billion ($1 billion) Valeria mine in Queensland has been designated a “coordinated project”, which the state said would help to get new jobs happening ...

Bloomberg Chesapeake Energy Corp is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the US shale revolution to senior lenders, according to people with knowledge of the matter. The dwindling options for a powerhouse that once rivaled Exxon Mobil Corp for title of king of American natural gas comes after CEO Doug Lawler’s ...

Bloomberg One of the few bright spots in China’s coal-dominated power mix for cleaner-burning natural gas is at risk after a proposed tariff cut. The southern province of Guangdong is mulling a 5-12% cut in the rates gas-fuelled generators can charge, according to a report on a website run by China Southern Power Grid Co, referencing an unpublished policy consulting ...

Bloomberg Total SA’s liquefied natural gas project in Mozambique raised $15 billion of debt — about the same size as the African country’s economy — exceeding a funding target even as the virus pandemic threatens the global financial system. Energy companies have struggled over the past few months as prices of everything from oil to natural gas slumped with the ...

Bloomberg A bipartisan group of senators is planning to introduce legislation that would expand US sanctions against Gazprom PJSC’s Nord Stream 2 pipeline between Russia and Germany by taking aim at insurance companies that work with Russian vessels on completion of the project. Senator Ted Cruz, one of the lead sponsors of the legislation, said the pipeline poses “a critical ...

Bloomberg China probably won’t hit its nuclear energy target this year, but that’s unlikely to derail a broader ambition to become the planet’s chief proponent of the climate-friendly fuel by the end of the decade. In an energy mix that’ll still heavily feature coal and other fossil fuels, government researchers have said that nuclear capacity could more than double to ...

Bloomberg Electricite de France (EDF) and its Canadian and German partners have finalised the funding of a 2 billion euro ($2.23 billion) offshore wind project, allowing construction to start in the English Channel. EDF, Enbridge Inc and Wpd AG plan to commission the 500-megawatt wind farm in 2023, the companies said in a statement on Tuesday. The facility near the ...

Bloomberg Chinese manufacturers that dominate nearly every step in the global solar power supply chain are being forced to slash prices as the coronavirus disrupts projects around the world. Costs for components like wafers and cells have fallen by as much as 20% since the start of the year. They likely haven’t bottomed out yet, either, as the outlook for ...

Bloomberg Uniper SE’s controversial new German coal plant is opening at a time when the fuel has never been more unpopular. Datteln-4 has drawn international condemnation from teenage activist Greta Thunberg to Greenpeace at a time when many countries are trying to slash their emissions. The environmentalists aren’t buying the argument that the new plant is more climate friendly than ...