Morocco builds data center powered by renewable energy
Morocco is planning to build a 500-megawatt data center powered by renewable energies to improve the security of data storage. This was announced by its minister for digital transition. Amal El Fallah Seghrouchni, a spokesperson for the Western Sahara Government, said that he was unable to provide any details about cost or timeline. These centres are being built by several countries to store and process sensitive data within their national borders. These centres may be operated or owned by private or state-owned companies…
BP sells 300 Dutch fuel stations to Catom
BP announced on Wednesday that it had agreed to sell 300 Dutch petrol stations in order to meet its goal of selling $20 billion of assets by the year 2027. The deal value was not disclosed. BP announced its divestment goal in February during a strategic update. It also promised to reduce debt, increase cashflow and focus more on oil and natural gas to regain investor confidence following a disastrous foray into the renewables sector. The Dutch deal is expected to be completed by the end this year.
Germany fills up all LNG regasification slots in Wilhelmshaven terminals
The state-owned German Energy Terminal GmbH (DET), said that it has successfully allocated all regasification slots available for its Wilhelmshaven LNG terminals 1 and 2. This is a further step in enhancing energy security for Germany, and Europe. DET is responsible to market and operate floating terminals which turn liquefied gas back into natural gas and feed them into Germany's Gas Network. Germany is relying on global LNG shipping to replace Russian gas pipelines in response to the invasion of Ukraine by Russia in 2022.
Orlen LNG to sell 140 million cubic meters of US LNG to Ukraine's Naftogaz
Naftogaz, Ukraine's energy company of state, has signed a deal to purchase 140 million cubic meters (mcms) of U.S. Liquefied Natural Gas from Poland's Orlen. After Russian shelling, Ukraine's storage sites are almost empty and it needs to import large quantities of gas in order to meet its heating requirements for 2025/26. "Naftogaz diversifies its sources and routes for gas supply." "This increases Ukraine's energy resilience and security amid the ongoing full scale war with Russia," Naftogaz Chief Executive Officer Sergii Koretskyi stated in a press release.
RPT-Pakistan is looking to sell surplus LNG in the face of a glut in supply that has slowed down local gas production - Document
According to a presentation by a government official who is familiar with the issue, Pakistan is looking for ways to sell surplus liquefied gas (LNG). This could result in losses of $378 million per year to domestic producers. A second official confirmed that the country imports LNG from Qatar, but has a surplus of at least three cargoes. It has no immediate need for these LNG, so it is selling them at steep discounts. Data from the energy think tank Ember revealed that the use of solar power, which is cheaper, has been gaining ground at the expense gas-fired generators.
Q&A: Is Venezuela on the verge of losing its prized foreign asset, Citgo?
After at least three consortia revised their bids in June and a U.S. Court completed the second round of bidding in an auction of shares of Citgo Petroleum, owned by Venezuela, creditors are hopeful that they will receive payment for some outstanding Venezuelan debt. The auction of the seventh largest U.S. refiner was organized by a court in response to a case Crystallex, based out of Canada, brought eight years ago against Venezuela. Citgo Holding's parent company, PDV Holding was found liable by the federal court for Venezuela's past expropriations and debts.
Pakistan Explores Selling Excess LNG

Pakistan is exploring ways to sell excess liquefied natural gas (LNG) cargoes amid a gas supply glut that could cost domestic producers $378 million in annual losses, according to a presentation and a government official familiar with the matter.The country has at least three LNG cargoes in excess that it imported from top supplier Qatar and has no immediate use for, and is currently selling natural gas at steep discounts to local users, a second government official said.Power generation from gas-fired power plants…
Document: Pakistan wants to sell its excess LNG due to a glut of supply that is reducing local gas production.
According to a government official and a presentation, Pakistan is looking for ways to sell surplus liquefied gas (LNG). This could result in losses of $378 million per year to domestic producers. A second official confirmed that the country imports LNG from Qatar, but has three cargoes left over. It has no immediate need for them, so it is selling them at steep discounts. Data from the energy think tank Ember revealed that the use of solar power, which is cheaper, has been gaining ground at the expense gas-fired generators.
Malaysian data centres face higher electricity costs and unclear pricing
The operators of energy-hungry data centres in Malaysia are scrambling to reassess costs after steeper-than-expected power tariffs kicked in on Tuesday, industry players said, clouding prospects for the Southeast Asian hub of digital investments. Malaysia's competitive electricity rates, which make up the majority of data centre operating costs, have made it a magnet for companies such as Microsoft and Google, who invest billions in Malaysia. An industry official…
Siemens Gamesa and Japan's Industry Ministry agree to wind power cooperation

A ministry official announced that the Japan's Industry Ministry will sign an agreement on Tuesday with Siemens Gamesa Renewable Energy to create a framework of public-private collaboration aimed at creating local supply chains for offshore power. The official in charge of wind power at the Ministry of Economy, Trade and Industry told reporters that the government is promoting collaborations with international players to create a domestic supply network. The official stated that as part of these initiatives…
Ares buys 20 percent of Plenitude from Eni for $2.3 billion

Italian energy group Eni sold a 20 percent stake in its renewables and retail business Plenitude, to U.S. alternative investments manager Ares Management Corp. for approximately 2 billion euros ($2.3billion), the company announced on Monday. The deal is part of an Italian group's strategy to develop its business with partners. It follows the sale by Energy Infrastructure Partners of a 10% stake of Plenitude. Stefano Questa is the co-head of European Alternative Credit for Ares. He said: "Plenitude has a distinguished track record in energy transition.
World Bank Group to consider $500 million for South Africa's Transmission Expansion

A senior bank official revealed that the World Bank Group was considering funding $500 million for South Africa to participate in a new facility of credit guarantee meant to unlock private finance for a massive expansion plan of the transmission grid. South Africa is enticing private investors to invest in an ambitious plan that will add 14,500 km new lines, and increase transformer capacity, over the next ten years, for an estimated cost of $25 billion. The country wants to recover from a decade-long period of crippling power outages, which have ravaged the economy.
Where is the money that the EU promised to workers in order to go green
The latest data available from the European Commission shows that the EU member states spent only EUR735 millions ($840 million US), the total amount of the fund, between March 2021 and March 2025. The Just Transition Fund is failing to provide adequate assistance for workers who are out of work, said Ciaran Mulooly. He was investigating the performance of the fund as a reporteur. "It's a total disaster from an employment standpoint." The towns are left with nothing. He said that it's as if they've given up on the next generation.
Meyer Burger shuts down US solar panel manufacturing in Arizona
Meyer Burger, a Swiss manufacturer of solar panels, has closed a U.S. plant in Arizona because of financial problems, laying off all 282 workers, the company announced on Thursday. This is a blow to the solar industry's efforts to create a domestic supply network and reduce its dependence on China, which is the top manufacturer of solar panels in the world. Meyer Burger announced that it would build a plant in Goodyear, Arizona by 2021 to take advantage of clean energy incentives offered during the tenure of former U.S.
Sources: SOCAR, Gunvor and Bin Butti will bid for refiner Italiana Petroli

Two sources familiar with the matter said that next week, State Oil Company of Azerbaijan SOCAR, global commodity trader Gunvor as well as Abu Dhabi's Bin Butti Group will be expected to make binding offers to acquire Italian oil refiner Italiana Petroli. UniCredit is advising IP, or API Group as it's also called, on the sale. IP, owned by the wealthy Brachetti-Peretti family in Italy, has a refining capacity totaling around 200,000 barrels a day. It also has a network consisting of 4,600 fuel station. IP declined to comment.
Malaysia's Petronas targets China and Vietnam while looking for long-term LNG supplies

A Malaysian company, Petroliam Nasional or Petronas aims to increase its liquefied gas sales in markets like China and Vietnam, while also seeking to secure a more long-term supply of North America and emerging market markets. These regions offer significant opportunities because of their rapid economic growth and growing energy needs. Shamsairi stated that Petronas aims to work with China in other areas of lower-carbon energy including renewable energy and hydrogen. Other solutions include green mobility, ammonia and carbon capture and storage.
Deutsche ReGas Receives EU Funding for Baltic Sea Coast Hydrogen Project

Deutsche ReGas on Wednesday said it will receive 112 million euros ($126.97 million) worth of public grants from the European Union's Hydrogen Bank for a renewable hydrogen project at Lubmin on Germany's Baltic Sea coast.The grant comes under EU funding schemes to promote electrolysis processes that use carbon-free electricity to kick-start a local economy producing hydrogen as an alternative to fossil fuels.ReGas said the hydrogen production at Lubmin, for which the funding will be spread over 10 years, can cut 1.6 million metric tons of carbon dioxide.The EU subsidy is de
Cornwall Insight reports that Britain's energy cap will fall by 7% in July.

Analysts at Cornwall Insight predicted that Britain's energy price cap would fall by 7% this July, due to lower wholesale prices. The government would welcome a drop in energy prices, as it is under pressure to keep its promise to reduce household costs. However, analysts predicted a larger fall, of 9%, last month. Craig Lowrey said that this was due to "an increase in energy wholesale markets, and updated assessments of various cost inputs, including policy costs, and network costs". Since the end April, wholesale gas prices in Britain have increased by around 10%.
Engie France reports marginal increase in first-quarter profits

The French utility Engie announced a marginal increase in earnings for the first quarter on Thursday. This was due to weaker hydropower conditions as well as lower electricity prices. The company, Europe’s largest gas network operator said that its earnings before interest, tax and nuclear power (EBIT) rose by 0.5% on an annual basis to 3.7 billion euro ($4.14 billion). The price of European gas and power has continued to drop after a peak in mid-February. This is due to concerns about a slower growth economy because of global trade tensions.
Edison Receives First Delivery of US LNG From Venture Global

Italian energy group Edison said on Wednesday it received the first cargo of liquefied natural gas (LNG) from U.S.