Battery boom sparked by China's energy reforms and global data centres
The Chinese energy storage manufacturers are booming as a result of the revamping of China's electric market. According to one estimate, Chinese firms will see a 75% increase in global shipments this year of lithium-ion batteries for energy storage. They have exported more than $65 billion worth of storage and electric-vehicle batteries this year, cementing their dominance in a sector vital ?to ?backing up wind and solar and keeping power coursing through artificial-intelligence data centres.
Britain Imposes Sanctions on Russia's Energy Sector
Britain imposed sanctions on Thursday on more Russian oil companies and Canadian-Pakistani billionaire Murtaza Lakhani as part of efforts to ramp up pressure on Moscow over the war in Ukraine.The government targeted 24 individuals and entities, including what it described as Russia's largest remaining unsanctioned oil companies: Tatneft, Russneft, NNK-Oil and Rusneftegaz.The latest measures aim to make it harder for Russia to trade its oil globally. In October, Britain and the U.S.
Why US producers are paying attention to Canada's most popular shale play
Executives, analysts, and advisors say that U.S. producers of oil and gas are seeking new drilling territories in Western Canada's Montney Basin, an enormous shale play in a remote area. The basin is already a hub of M&A and may see even more deals in the near future. The United States has become the largest oil producer in the world as a result of extensive drilling on shale deposits over the past 15 years. After a period of rapid expansion, oil producers are less interested in drilling prospects within the Permian oilfield, which extends across Texas and New Mexico.
JETP estimates Indonesia requires $92 billion for decarbonising the captive power sector by 2050
In a recent report, the Just Energy?Transition Partnership stated that Indonesia will need to invest an estimated $31 Billion by 2030 and a total $92 Billion by 2050 in order to switch?to a greener energy sector in its captive power sector. In recent years, the captive power sector in Southeast Asia, which includes?electricity production?developed by industry for its own use, has expanded rapidly, especially in nickel industrial estates. According to the report, Indonesian JETP Secretariat estimates that captive power will reach 25,9 GW by 2024.
Wall St futures rise as investors look at more data and geopolitics
U.S. Stock Index Futures climbed a little higher on Wednesday, as investors waited for more economic data in order to determine the direction of monetary policy. They also monitored geopolitical tensions that were escalating in Venezuela. This pushed oil prices up. Later in the day, a number of "influential" Federal Reserve officials including Governor Christopher Waller and New York's President John Williams are expected to provide more clarity about monetary policy. The U.S. equity market had a volatile session Tuesday.
Petrobras enters Brazil's solar energy sector with deal for Lightsource bp subsidiary Lightsource Bp 49.99%
The state-owned oil company of Brazil, Petrobras, has signed a deal with Lightsource bp to purchase 49.99%?of its subsidiaries in the country. The partnership will be structured in a 'joint venture' and aligned with the Brazilian company's 2026-2030 plan for diversifying its portfolio. The agreement did not disclose any financial details. Lightsource bp is a British 'oil company' that has a pipeline of between 1 - 1.5 gigawatts at advanced stages of development. It also has other projects in Brazil which are less mature.
Carnelian, a buyout firm, raises eyebrows by trying to sell multiple assets in the energy sector.
Carnelian Energy Capital is selling six of its North American oil-and-gas production investments. This comes at a time when private equity firms are under increasing pressure to return more cash to investors and increase their exits. The move, which represents most of Carnelian's oil and gas producing companies, and approximately 40% of its total investments, has raised eyebrows in the industry because traditionally, buyout firms space out their sale efforts so as to avoid exhausting the buyer demand.
Canada's new oil tycoon is shaking up the sector with a bold expansion plan
Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company's status as one of ?North America's fastest-growing oil companies. Waterous wants to expand the company more aggressively and more efficiently than its competitors after Strathcona Resources' hostile bid for MEG Energy was unsuccessful. He wants Canada to be the fourth largest oil producer to increase oil and gas production to boost economic growth during a time of tensions between the U.S.
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or halt any new funding for the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could choke off financing for the entire industry. The Ministry of New…
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or pause new financing in the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could cause a financial squeeze on the entire industry. The Ministry of…
Clean energy companies in India are seeking better weather data, as regulations tighten.
India's clean-energy producers highlighted the lack of weather forecasting models on Wednesday, while the power regulator proposed stricter rules for developers to adhere to their grid commitments. The Central Electricity Regulatory Commission in India, which regulates the power industry, has issued stricter rules for wind and solar energy producers. This is under the Deviation Settlement Mechanism. The draft framework was to be implemented from April 2026. Its aim…
Maguire: High natural gas prices may lead to a new surge in coal consumption in the US
The benchmark U.S. gas prices will end 2025 the same way they started - with an explosive rally. This is bad news for those who hoped for a further reduction in coal consumption in the U.S. Gas prices in the United States increased by a third between January and March this year due to a harsh winter and strong LNG exports. This led to an increase in coal-fired electricity generation, as utilities reduced costs by burning coal instead of gas. As 2025 approaches, a similar pattern is emerging.
Maguire: High natural gas prices may lead to a new surge in coal consumption in the US
The benchmark U.S. gas prices will end 2025 the same way they started - with an explosive rally. This is bad news for those who hoped for further reductions in U.S. coal usage. Gas prices in the United States increased by a third between January and March this year due to a harsh winter and strong LNG exports. This led to an increase in coal-fired electricity generation, as utilities reduced costs by burning coal instead of gas. As 2025 approaches, a similar pattern is emerging.
Orlen to Buy Out Energa Minorities to Take Full Ownership
Polish state-controlled refiner Orlen said on Wednesday it plans to buy out the remaining shares in its utility unit Energa to take full ownership, with a price tag of about 709 million zlotys ($189 million).The move will see Orlen integrate the utility more deeply into its energy transition strategy. The refiner is offering 18.87 zlotys per share for the 37.6 million shares it does not already own.Shareholders can submit sale offers between December 1 and December 17, the company said in a regulatory filing.
Abu Dhabi's GSU launches $1 billion energy project in Yemen
On Wednesday, the United Arab Emirates announced that it would launch energy projects in Yemen worth $1 billion to help rebuild its energy sector. These will be implemented through Abu Dhabi-based Global South Utilities. GSU announced in a press release that the agreement would see the company develop a portfolio of projects including solar and wind energy, as well as distribution networks throughout the country. Yemen has been suffering from an electricity crisis for almost 30 years, caused by fuel shortages.
Official: Serbia is preparing an amendment that will allow it to take over a Russian-owned refinery.
The parliament speaker, who spoke to Euronews Serbia Tuesday, said that Serbia was preparing a change to the draft budget bill to allow it to own its Russian-owned and U.S. sanctioned oil refiner NIS. In January, the Office of Foreign Assets Control of the U.S. Treasury Department imposed sanctions on Russia's energy sector, including NIS. This company is owned in majority by Russia's Gazprom and Gazprom. The U.S. granted NIS multiple waivers until the sanctions came into effect finally in October.
US federal funds for energy production will decline by 11% by 2025
Interior Department reported on Friday that revenue from energy production in U.S. public waters and lands fell by 11% to $14.61 Billion during the last fiscal year, citing lower commodity prices like oil. The total is the lowest since 2021 - the first year under the administration of U.S. president Joe Biden - but the fifth highest since 1982. As part of his agenda to dominate the energy sector, President Donald Trump pledged to increase energy production on federal land and waters while keeping prices low for consumers. Interior Department reported that the U.S.
Russian Urals Discounts in India Triple Since August as US Sanctions Hit
Discounts for Russian flagship Urals crude in Indian ports have tripled since August against dated Brent as U.S. sanctions drive key buyers away from Moscow-supplied oil, three sources involved in the trade said.The United States last month imposed its toughest sanctions yet on Russia’s energy sector, targeting oil majors Lukoil and Rosneft. Friday marks the deadline for companies to wind down all dealings with the two producers.Urals crude has been a mainstay feedstock for Indian refiners since 2023…
Trump Energy Department reorganizes to focus on fossil and nuclear priorities
The U.S. Department of Energy announced on Thursday a reorganization of its agency, which prioritizes oil and nucleic resources over offices dedicated to renewables or efficiency. DOE released a new organization chart along with a short statement stating that the changes aligned to President Donald Trump’s agenda of energy dominance. The chart includes several new divisions including the Hydrocarbons Office, Geothermal Office and Office of Fusion. The Office of Clean Energy Demonstrations (established by the Biden Administration) has been eliminated.
IMF will soon begin a mission in Ukraine, stressing the need for anti-corruption measures
Julie Kozack, the spokesperson for the International Monetary Fund, said that a staff delegation will be sent to Ukraine soon to discuss the country's financing needs and to explore a possible new lending program. She also stressed the importance of continuing anti-corruption initiatives in the war-torn nation. Yuliia Shvyrydenko, Ukrainian Prime Minister, announced on Thursday an audit of state-owned businesses, including those in the energy sector. This follows an alleged corruption scandal of $100 million that led to the suspensions of two cabinet members.