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China’s EV Strategy of Going Small and Cheap to Pay Big Dividends in Asia

CDN and International News, Electric Vehicles, Energy Topics & Technology, Latest / By

By Clyde Russell (Reuters) – China’s dominance of global electric vehicle production and sales is an established fact, but a new International Energy Agency (IEA) report points to the country extending its influence in autos across the fast-growing economies of Asia. The IEA’s Global Electric Vehicle (EV) Outlook 2024 report, released on Tuesday, shows that China …

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TotalEnergies to Buy Sapura Energy Gas Assets for $530 Million

CDN and International News, Energy Topics & Technology, Latest, Mergers and Acquisitions / By

TotalEnergies SE agreed to buy Sapura Energy Bhd.’s 50% stake in Malaysian natural gas producer SapuraOMV Upstream Sdn for $530 million, reaffirming its recent bet in the southeast Asian nation. The French energy giant’s announcement on Monday comes less than three months after it agreed to buy OMV AG’s 50% stake in SapuraOMV for $903 million, including the transfer of a …

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Denmark Launches its Biggest Offshore Wind Tender

CDN and International News, Latest, Renewable Energy, Wind / By

(Reuters) – Denmark on Monday launched its biggest offshore wind tender to date, offering no subsidies to companies competing for the right to erect turbines on six sites with a combined capacity of up to 10 gigawatt (GW), the energy and climate ministry said. The wind farms, to be completed by 2030, are crucial if …

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Jet Fuel Demand Growth Lags as Air Traffic Exceeds Pre-Pandemic Level

Air Travel, CDN and International News, Energy Topics & Technology, Latest / By

Global flight activity passed pre-pandemic levels for the first time in four years last week, but jet fuel demand growth has not kept apace as newer fleets of aircrafts become more fuel efficient and carry more passengers. Aviation fuel, a product refined from crude oil, has been the single biggest contributor to oil’s post-pandemic bonanza, …

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BP Reshapes Its Leadership Team as Some Executives Leave

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest / By

New CEO Auchincloss seeks to simplify BP’s corporate structure Retiring gas and power chief Dotzenrath is replace by Lin BP Plc restructured its top management as the departure of some executives allowed new Chief Executive Officer Murray Auchincloss to put his mark on the oil and gas giant. The executive leadership team will be reduced to 10 members …

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Abu Dhabi’s TAQA Confirms Naturgy Shareholder Talks as it Eyes Full Takeover

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions / By

(Reuters) – Abu Dhabi’s TAQA  is in discussions with the three largest shareholders of Spanish energy firm Naturgy, it said on Wednesday, with a view to a possible full takeover bid for the company. Criteria, the main shareholder in lender Caixabank owns a 26.7% stake in Naturgy, which has a current overall market value of 22 billion …

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Canada to Give Indigenous Groups Loan Guarantees for Resource Projects

CDN and International News, Latest / By

Canada will provide up to C$5 billion ($3.6 billion U.S.) in loan guarantees to help Indigenous groups invest in natural resource projects, the Liberal government said in its annual budget on Tuesday. The program could give the groups major investment opportunities, from the government-owned Trans Mountain oil pipeline to TC Energy’s Coastal GasLink pipeline, power lines …

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Canada to Give Indigenous Groups Loan Guarantees for Resource Projects

CDN and International News, Latest / By

Canada will provide up to C$5 billion ($3.6 billion U.S.) in loan guarantees to help Indigenous groups invest in natural resource projects, the Liberal government said in its annual budget on Tuesday. The program could give the groups major investment opportunities, from the government-owned Trans Mountain oil pipeline to TC Energy’s Coastal GasLink pipeline, power lines …

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Canada’s Trans Mountain Pipeline Expansion Could be Trouble for OPEC Member Iraq

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands, Pipelines / By

Pipeline will almost triple shipments, bringing oilsands into direct competition with Iraq crude Bloomberg News Canada’s newest oil pipeline may spell trouble for a Middle Eastern country almost 7,000 miles away: Iraq. The Trans Mountain pipeline’s expansion, which will almost triple Alberta oilsands producers’ ability to ship their heavy crude to the Pacific Coast, will most directly affect …

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New Wind Installations Hit a Record Last Year, Report Says

CDN and International News, Latest, Renewable Energy, Wind / By

(Reuters) – The global wind industry installed a record 117 gigawatts (GW) of new capacity last year but needs to add triple this amount annually by the end of the decade to meet climate targets, according to an industry report on Tuesday. The Global Wind Energy Council (GWEC) report said capacity installation last year was …

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