Chinese solar firms are ever-nimble and go to places where US tariffs do not reach
The U.S. tariffs on Vietnam and three other Southeast Asian nations have prompted some of the largest Chinese-owned factories to cut production and lay off workers. In the meantime, a number of Chinese-owned solar power plants are being built in Indonesia and Laos. These are outside of Washington's protections on trade. Reports show that their planned capacity would be enough to provide about half of the solar panels installed in the U.S. Chinese solar firms have shrunk their output in existing hubs, while building new factories elsewhere. This has allowed them to avoid tariffs and to dominate the U.S.
Meyer Burger delays half-year results while it looks for financing
Meyer Burger, a Swiss solar panel manufacturer, announced on Tuesday that it will postpone its 2024 half year results to September 16 in order to secure additional funding and a strategic partnership. Meyer Burger announced that it will postpone publication of the results which were due to be published on Wednesday. The company did not provide any further details. The money will be used to complete the Colorado and Arizona manufacturing plants. Meyer Burger's financial struggles have caused pressure on its shares. They are down more than 90% this year and well below the peaks reached in early 2023.
BP to Sell Petrochemicals Business to Ineos for $5B
British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary, BP’s chief financial officer, said: “With today’s announcement we have met our $15 billion target for agreed divestments a full year ahead of schedule, demonstrating the range and quality of options available to us.”Ineos will pay BP a deposit of $400 million and will pay a further $3.6 billion on completion. An additional $1 billion will be deferred and paid in three separate installments of $100 million in March…
France Eyes Role as Tidal Energy Powerhouse
French Secretary of State for the Ecological and Inclusive Transition, Sébastien Lecornu, announced preliminary studies to the launch of a tidal energy tender in Paris yesterday evening. The announcement is an important first step and strong message to the sector. A tender for tidal energy will see France become the global center of tidal energy manufacturing. The tides in northern France are among the most powerful in the world. Following a decade of R&D development, tidal energy technology is now ready to use this resource.
Crowley to Supply LNG in Puerto Rico
Crowley Maritime Corp.’s liquefied natural gas (LNG) services group has been awarded a multi-year contract to supply additional volumes of containerized, U.S.-sourced LNG to a major pharmaceutical company’s manufacturing plants in Puerto Rico. The contract, executed through Crowley’s Carib Energy LLC subsidiary, extends a 2014 contract awarded to Crowley for LNG supply for the facilities by expanding LNG services to additional plants. The contract includes the fuel supply and transportation of LNG, which helps the customer yield substantially lowered emissions and provides an alternative to their current fuel source, diesel.
Pemex Delves Deep into UK Subsea Sector
Senior figures from Mexico’s national oil company, Pemex, have been discovering the secrets of the UK subsea sector’s success and how it has revolutionized the way in which hydrocarbons have been extracted from beneath the seabed during a fact-finding visit to Aberdeen. Organized in partnership with the Department of International Trade (DIT), the five-day subsea learning event included site visits to some of the sector’s most innovative companies, including GE Oil & Gas, Aker Solutions, Hydrasun, Wood Group, BP and ROVOP.
Technip Recertified to Gender Equality Standards
Technip entities in Brazil, France and Italy have been recertified to the EDGE (Economic Dividends for Gender Equality) global standard for gender equality in the workplace, including the group’s headquarters and the Innovation and Technology center both located in Paris, as well as Technip’s manufacturing plants in Le Trait, France, and Vitoria, Brazil. With Australia, Malaysia, the U.K., United Arab Emirates and the U.S. certified last year, Technip counts eight countries EDGE Certified and remains the first and only company in the energy industry to achieve this certification.
Technip to Supply Flexible Pipes for Lula Alto Pre-salt Field
Technip was awarded a major(1) contract from Tupi BV, a consortium composed of Petrobras Netherland BV (PNBV, 65%), BG (25%) and Galp (10%), for the ongoing development of the Lula Alto field, located in the Santos Basin pre-salt area, Brazil. This contract covers the supply of around 200 kilometers of flexible pipes and associated equipment, including gas lift, gas and water injection, gas export and production lines. These high technological flexible pipes are designed to meet pre-salt challenges with water depths of up to 2,500 meters and high pressures.
Crowley Wins 2nd Commercial LNG Supply Contract
Crowley Maritime Corp.’s Liquefied Natural Gas (LNG) services group has been awarded a second, multiyear contract to supply containerized, U.S.-sourced LNG to a pharmaceutical company’s manufacturing plants in Puerto Rico. The contract, executed through Crowley’s Carib Energy subsidiary, includes the fuel supply and transportation of LNG, helping the customer yield lowered emissions and an alternative to their current fuel source, diesel. Other benefits include an uninterrupted fuel supply due to the abundance and availability of U.S.-sourced LNG.
US Top Court Trims Obama's Emissions Bid
The U.S. Supreme Court on Monday trimmed the Obama administration's power to curb greenhouse gases under a long-running air pollution program in a decision that means major facilities, including power plants and refineries, will go on being regulated as they have been. On a 7-2 vote, the court rejected an industry-backed argument that most emitting facilities should not be regulated for greenhouse gases under one particular air pollution program of the U.S. Environmental Protection Agency (EPA). But industry…
Prices Mixed as June Contract Rises While July Declines
European physical coal prices were mixed on Wednesday, with the June delivery contract regaining some ground after trading at its lowest level since late February in the previous session, while the July contract continued to decline. Cargoes for June delivery to Amsterdam, Rotterdam and Antwerp (ARA) were trading at $72.50 a tonne on Wednesday afternoon, up 30 cents since the previous close and above a three-month low of $71.85 hit in the previous session. Traders said that some buying may have been prompted by utilities running short of supply towards the end of the month.
Crowley to Ship LNG to Coco Cola Puerto Rico Plant Long Term
Crowley’s Carib Energy has been awarded a multi-year contract to supply containerized, U.S.-sourced Liquefied Natural Gas (LNG) to its first industrial customer, Coca-Cola Puerto Rico Bottlers in Cayey and Club Caribe in Cidra, both wholly owned subsidiaries of CC1 Companies, LLC. The contract, executed through Crowley’s Carib Energy subsidiary, includes the fuel supply and transportation of LNG to two of the manufacturer’s plants in Cayey and Cidra, Puerto Rico, which will provide both facilities with substantially lowered emissions and an alternative to their current fuel source, diesel.
Major Offshore Wind Turbine Manufacturers Form Joint Venture
Industry majors, Gamesa and Areva, have announced exclusive negotiations to create a 50/50 joint-venture company in the field of offshore wind power. The principals consider that the offshore market represents one of the most promising areas for the development of renewable energies over the next decade, particularly in the coastal countries of northern Europe, where the installed base should reach over 25 GW by 2020, and in Asia. The two companies believe that by joining forces they will become leading players in the global offshore wind market.
