AGL Australia to reduce jobs as part of Clean Energy Push
AGL, Australia's largest energy producer, announced on Friday that it would cut jobs in order to transition towards cleaner energy. It also plans to close its coal-fired plants by the mid-2030s. A spokesperson for AGL said: "We need to make sure that our current business is productive and competitive on this market, while continuing to invest in the business of tomorrow. The Australian newspaper reported that the total number of roles cut could reach 300. A spokesperson for AGL did not specify how many of the 4,200 total jobs that AGL employs would be eliminated.
First Solar's sales exceed expectations, and the company plans to open a second US factory
First Solar, the largest U.S. solar panel manufacturer, exceeded expectations for third quarter sales on Thursday. This was due to robust demand for their products. Their shares rose more than 5% during extended trading. Solar-generated electricity has become one of the fastest growing segments in the U.S. Energy Industry, due to the strong demand of corporations and government agencies for cleaner energy sources and climate change. First Solar announced that it would build a 3.7 GW manufacturing plant in the U.S. Production is expected to begin at the end 2026, and increase through the first half 2027.
First Solar's robust sales beat expectations in the third quarter
First Solar's shares rose more than 5% on extended trading after it beat third-quarter expectations. This was due to robust demand for the company's products. Solar-generated electricity has been growing at a rapid rate in the U.S. Energy Industry, driven by the strong desire of corporations and government to use cleaner energy sources and fight climate change. The company announced that it would build a new production facility of 3.7 GW in the U.S. Production is expected to begin at the end 2026, and increase through the first half 2027. The company posted a profit for the third-quarter of $455.9 millions, or $4.24 a share.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year, from the multi-decade highs set in 2022, after sanctions against Russia slowed negotiations. However, a rebound followed, as well as long-term LNG demand and domestic sales, have kept global buyers interested.
Philippines boosts gas-powered and renewable capacity to meet surge in demand
The Philippines' energy secretary stated on Friday that it expects increased gas-fired power generation and renewable energy to help fuel a projected 6,6% growth in demand for power over the next two year, reducing dependence on coal. In an interview conducted on the sidelines the ASEAN Energy Ministers Meeting, the country's energy secretary Sharon Garin said that the country would continue to increase gas usage for power generation. It also plans to add additional gas-fired capability to meet the rising demand. The gas supply chain is the main constraint. She added that there are no turbines.
Brookfield invests $5 billion in Bloom Energy to support fuel cells for AI data centers
Brookfield Asset Management announced on Monday that it would invest up to five billion dollars in Bloom Energy fuel cell technology for data centers. Companies are looking to cleaner energy sources to meet the demands of artificial intelligence. Bloom Energy shares were up 31% in premarket trading at $113.72. As they spend billions on building and expanding their data centers, companies are looking to clean power sources like nuclear, renewables, and fuel cells to meet the demand for AI, Cloud Computing, and digital services.
South Africa coal heartland is home to a small solar city
Even though the locals are coughing up grey smog, coal keeps them at work, heats their homes during winter, and cooks dinner. Now, however, things are slowly beginning to change. South Africa, one of the largest coal exporters in the world, has launched a plan that will wean itself off coal pollution and embrace green industries to create jobs. Solar bricks - stackable lithium-ion batteries charged by sunlight - are used to power lights and mobile phones in almost every Nomzamo home. Nomzamo, despite only having 412 households in its program, sees it as the beginning of a major green shift for the country.
New Fortress Energy signs $4 billion LNG contract in Puerto Rico
In a social media post posted on Tuesday, Governor Jenniffer Gonzalez announced that Puerto Rico had negotiated a $4 Billion liquefied gas contract with New Fortress Energy. The contract, which was signed after the talks on a larger contract in July broke down, has a term of seven years instead of 15 years, with an option to extend it for three more years. It also eliminates exclusivity clauses. Gonzalez stated that the prices of LNG cargoes are more competitive and some premiums have been reduced. This agreement will help Puerto Rico make the transition to cleaner energy, and reduce its dependence on fossil fuels.
US Energy Secretary downplays climate risk as Washington seeks EU Gas Deals
Chris Wright, the U.S. Energy secretary, downplayed climate change risks on Thursday as he promoted Washington’s return to a “commonsense policy” while the Trump Administration worked to increase oil and gas exports to Europe and other allied countries. Wright spoke with reporters in Brussels after he met the European Union energy commissioner Dan Jorgensen. U.S. Doug Burgum, the Interior Secretary of the United States, was also in Europe last week to sign energy deals. Washington is hoping that these agreements will increase its influence in Europe while reducing Russia's.
INSTANT VIEW - Teck and Anglo forge a $53 billion mining giant to bet on the surging demand for copper
Anglo American, a London-listed company, and Teck Resources, a Canadian firm, will merge for $53 billion, both companies announced on Tuesday. This is the largest mining deal in over a decade. Anglo Teck will have its headquarters in Canada and a primary listing on the London Stock Exchange, according to the companies. The merger will change the game for Anglo American. We believe that the merger of these two companies will result in the creation of a major copper-producing company, comparable to Escondida, and superior to Antofagasta. The combined company would also have some iron ore, zinc, and premium iron ore diversification.
Nigeria's TotalEnergies deal marks shift to gas development
The Nigerian production-sharing agreement with TotalEnergies will be a model for future agreements, according to the oil regulator. It is the first contract based on a new law aimed at boosting the gas production of the OPEC country. The Petroleum Industry Act of 2021, which recognised the economics of oil exploration and production, was followed by incentives from government such as tax credits for gas-only development and allowances to invest. The agreement reached by the French energy giant and its local partner, on September 1, concerns oil and gas exploration licences granted last year in the Niger Delta Basin.
First Solar increases its annual sales forecast, expecting higher prices due tariffs
First Solar increased its annual sales forecast for Thursday as the U.S. manufacturer of solar panels expects higher prices after additional tariffs against foreign-made products. After the bell, shares of the Tempe-based Arizona company rose by over 4%. Solar industry is bracing itself for the impact of U.S. president Donald Trump's policies on renewable energy and his plans to impose a tariff on most imports. The U.S. tariffs will improve the outlook of solar companies, even though Trump's tax and spending bill, dubbed "One Big, Beautiful Bill Act", aims to phase-out solar and wind tax incentives by 2028. First Solar and other U.S.
Japan returns to long term LNG deals on AI boom and national energy plan
The liquefied gas industry in Japan is once again in the spotlight, as artificial intelligence booms and rising costs of cleaner energy drive the appetite for long-term LNG contracts. Japan, which is the second largest LNG importer in the world, has secured long-term deals with Qatar, and other buyers are also securing such agreements. Japan's LNG exports have been falling for over a decade, as the nuclear power plants that were idled following the Fukushima catastrophe began to operate again and renewable energy sources increased. The AI boom will require enormous power consumption from data centres.
Baker Hughes sells sensor unit to Crane at $1.15 billion
Baker Hughes announced on Monday that it would sell its Precision Sensors and Instrumentation (PSI), product line to aerospace parts and defense parts manufacturer Crane, for $1.15 Billion. The oilfield services provider is looking to optimize its portfolio. Lorenzo Simonelli, the CEO of Baker Hughes, has been reshaping the company to adapt to global energy transformation. He has shed non-core assets and invested in cleaner energy solutions. Oil industry struggles with low spending on oilfield activities. The company relies on portfolio refinement to increase earnings and cash flow.
Haddad, Brazil's Haddad, supports research on oil deposits near the mouth of Amazon
Fernando Haddad, the Finance Minister of Brazil, said that while the search for oil near the mouth the Amazon River must continue in Brazil, any discoveries made should not slow down the country's transition towards cleaner energy. The mouth of the Amazon, a vast area stretching between Rio Grande do Norte (Northern Brazil) and Amapa (Southern Brazil), is the area that has the most potential for oil discovery in Brazil's Equatorial Margin. "I'm in favor of doing research. I think it is important to find out what there is. Haddad told local media outlet GloboNews that the oil, if it exists, cannot be used as an excuse to delay energy transition.
Tauron's net profit for the full year fell 48% due to a drop in revenues
The Polish utility Tauron reported a 48% drop in its net profit for the full year, due mainly to lower revenue from electricity sales. The preliminary figures for March were a little lower than the results of the company. Tauron is Poland's second largest power utility based on market value. Its coal-fired fleet has been losing money, and the company faces pressure from a shift towards renewable energy. According to the energy think tank Forum Energii the coal use in the country has decreased as it works to reduce its dependency. Coal will account for about 57.1% (or 57.1%) of the nation's electric generation by 2024.
Colombia considers long-term contracts for gas imports to cover the deficit and lower prices
Edwin Palma, Minister of Mines and Energy in Colombia, said that the government may sign long-term contracts for gas imports to help cover its energy shortage and reduce prices. According to the Colombian Natural Gas Association, (Naturgas), Colombia is facing a shortage of gas of 7.6%. This is partly due to a lower production as part of President Gustavo Petro’s push towards cleaner energy policies. The minister stated that "we've worked with Naturgas and Energy and Gas Regulation Commission to weigh different alternatives and regulatory stipulations", in order to allow natural gas sales over a period of 3-5 years.
Indonesia Minister says other countries will not follow U.S. withdrawal from JETP Energy Transition Funding
A senior Indonesian Minister said that the United States' decision not to continue with the Just Energy Transition Partnership (a commitment of developed countries to fund energy transition) will have no impact on the commitments made by the other partners. JETP, a global financing initiative that brings together rich nations with lenders from around the world to assist poorer countries adopt cleaner energy sources, has allocated $20 billion for Indonesia to reduce its emissions. Earlier this week, the U.S. announced that it was withdrawing from its JETP agreements with Indonesia and South Africa. The U.S. commitment to Indonesia is over $2 billion.
German energy transition could cost 300 billion euros less with greater efficiency, according to a study
According to a report released by the Boston Consulting Group on Thursday, Germany could save over 300 billion euros (326.49 billion dollars) by 2035 if it implements the energy transition in a more efficient manner. Germany will spend hundreds of millions of euros in the next few years to transition towards cleaner energy sources, with a goal of being carbon neutral by 2045. Berlin is also under pressure from the industry to reduce energy costs that are stubbornly high. The BDI report calculated the savings based upon current plans.
Exxon Mobil to receive LNG from ARC Resources
ARC Resources announced on Tuesday that it had signed a long-term liquefied gas supply contract with a division of Exxon Mobil. In recent years, global LNG demand has increased amid a move towards cleaner energy. The U.S. is now a major supplier of both Europe and Asia. ExxonMobil LNG Asia Pacific has announced that it will buy all of ARC’s LNG from the Cedar LNG Project, which is approximately 1.5 million tonnes per year (mtpa), ARC said. Cedar LNG, a project in partnership with the Haisla Nation, located on Canada's West Coast and Pembina Pipeline, will begin commercial operations by 2028. Its capacity is 3.3 million tonnes annually (mtpa).