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Energy Chiefs Tell EBRD How They See Sector Recovering Post-Covid-19

1 min read

The FINANCIAL -- Energy leaders responding to a survey conducted by the EBRD and summarised in a Covid-19 policy note investigating how the sector will deal with the 5 per cent fall in energy demand worldwide brought by Covid-19 in 2020, have indicated they are confident of a quick recovery. One-third of respondents from 32…

Net Zero pledges go global, now action needs to follow words

1 min read

The FINANCIAL -- Net zero targets now cover two thirds of the global economy, according to a report today from Oxford Net Zero and the ECIU (Energy and Climate Intelligence Unit) – even though it was only a decade ago that Oxford climate scientists first showed the need to reach net zero emissions. However, despite…

Wind and water provide most renewable electricity

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The FINANCIAL – In 2019, renewable energy sources made up 34% of gross electricity consumption in the EU, slightly up from 32% in 2018.…

Wind turbines at BMW Group Plant Leipzig light up as Advent candles

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The FINANCIAL -- The four wind turbines on the grounds of BMW Group Plant Leipzig have been generating green energy for BMW i production since 2013. But this Advent they have a second job as well: as symbols for Advent candles lighting the way to sustainability.…

Netherlands: Dutch district heating gets green acceleration

2 mins read

The FINANCIAL -- Euro 50 million EIB loan to Dutch sustainable energy and waste company HVC, supported under the Investment Plan for Europe, to support HVC’s 5-year investment plans. Financing will be used to provide heating from renewable sources to greenhouse horticulture in Dutch “Westland” region, as well as expand its district heating networks in regions around…

Leading energy companies announce Transition Principles

2 mins read

The FINANCIAL --According to Royal Dutch Shell eight leading energy companies have jointly developed and agreed Principles as a collaborative platform for energy transition. Joint collaborative approach welcomed by investors leading engagement with companies across sector through Climate Action 100+. Principles support collective industry acceleration to contribute to the Paris Agreement objectives by delivering progress on reducing GHG…

Kazakhstan forges ahead with Renewable Energy

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The FINANCIAL — The signing of a syndicated US$95.3 million deal to support the construction of the Zhanatas 100 MW wind farm in southern Kazakhstan, marks a major milestone in the decarbonisation and diversification journey away from the country’s coal legacy.  This will be one of the largest windfarms in the region, achieving a myriad of breakthroughs in the market and…

Rolls-Royce to test 100% Sustainable Aviation Fuel in next generation engine demonstrator

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The FINANCIAL — As part of its ongoing decarbonisation strategy, Rolls-Royce is to use 100% sustainable aviation fuel for the first time in engine ground tests on next-generation engine technology. The tests will aim to confirm that unblended SAF makes a significant contribution to improving the environmental performance of gas turbine engines. The SAF being…

Equinor plans to become net zero energy company by 2050

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The FINANCIAL — Equinor today announces its ambition to become a net-zero energy company by 2050. The ambition includes emissions from production and final consumption of energy. It sets a clear strategic direction and demonstrates Equinor’s continued commitment to long-term value creation in support of the Paris Agreement. “Equinor is committed to being a leader…

ADB boosts support for renewable energy in Maldives

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The FINANCIAL — The Asian Development Bank (ADB) has approved a $7.74 million concessional loan and a $2.73 million project grant to scale up the ongoing project, Preparing Outer Islands for Sustainable Energy Development (POISED), which is transforming the existing diesel-based grids into renewable-energy-based hybrid systems covering 160 outer islands in Maldives.   The project…

World’s first blue ammonia shipment opens new route to a sustainable future

2 mins read

The FINANCIAL — Aramco and the Institute of Energy Economics, Japan (IEEJ), in partnership with SABIC, have successfully demonstrated the production and shipment of blue ammonia from Saudi Arabia to Japan with support from the Japanese Ministry of Economy, Trade and Industry. Forty tons of high-grade blue ammonia have already been dispatched to Japan for…

ICC welcomes Japan’s net-zero commitment

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The FINANCIAL — ICC, the institutional representative of 45 million companies – has welcomed today’s announcement by newly elected Japanese Prime Minister Yoshihide Suga, committing Japan to achieving net zero emissions by 2050. Commenting on the announcement, ICC Secretary General John W.H. Denton AO said: “I commend Prime Minister Suga for this concrete commitment to…

bp starts gas production from Qattameya field

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The FINANCIAL — bp today announced the start of gas production from its latest development ‎offshore Egypt – the Qattameya gas field in the North Damietta offshore concession.  Through bp’s joint venture, Pharaonic Petroleum Company (PhPC), the field, which is ‎expected to produce up to 50 million cubic feet of gas per day, has been…

The Northern Lights project to disclose its data

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The FINANCIAL — Equinor is developing the Northern Lights project with Shell and Total as equal partners. Willing to share knowledge in a transparent manner the Northern Lights projects partners have decided to give open access to 31/5-7 Eos well data and make such data available for download. “The Northern Lights project believes data sharing…

Equinor announced partnership with Microsoft

2 mins read

The FINANCIAL — Equinor has signed a Memorandum of Understanding (MoU) with Microsoft to explore ways to support the Northern Lights carbon capture and storage (CCS) project as a technology partner. Microsoft will explore using the project to enable the transportation and storage of captured CO2 . Equinor is developing the project together with Shell and…

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