ADIPEC Exhibition & Conference | Energy Industry News

Germany Falling Short of Gas Saving Goal, Regulator Warns

(Bloomberg) -- German households and businesses saved too little gas in the second half of January, according to the country’s network regulator.Gas consumers only saved 8.6% in the last week of January compared to the average use between 2018 and 2021, and 14%…

India Parliament Adjourns for a Second Day Over Adani Issue

(Bloomberg) -- India’s opposition stepped up pressure on Prime Minister Narendra Modi over his links with tycoon Gautam Adani and both houses of parliament were adjourned for a second day over raucous demands for a parliamentary investigation in the stock rout …

Oil Suffers 5% Weekly Loss as China Optimism Dims, Holdings Rise

(Bloomberg) -- Oil headed for a second weekly drop as optimism over a recovery in Chinese demand dimmed and US stockpiles kept rising.West Texas Intermediate fell toward $75 a barrel, set for a loss of about 5% this week. The China reopening trade for commoditi…

ADNOC signs agreements with 23 companies for local manufacturing opportunities

Abu Dhabi’s ADNOC has signed agreements with 23 UAE and international companies for local manufacturing opportunities across a wide range of critical industrial products worth US$4.63 billion. The agreements outline the intention of the companies to manufacture…

Plenitude starts production at solar plant in US

Plenitude began production at the 263 MW “Golden Buckle Solar Project” in Brazoria County Texas, US. The plant was built in just over a year, in an area of over 600 hectares located 80 km south of Houston. It will produce a yearly average of 400 to 500 GWh of s…

New York Natural Gas Hits 20-Year High on Extreme Cold Threat

(Bloomberg) -- Natural gas prices skyrocketed in New York and Boston as bitter cold descends that will boost demand for the heating fuel.Next-day gas deliveries into a section of the Iroquois Gas pipeline that hauls Canadian gas into New York traded at an avera…

Gas Stoves Are Back Under Scrutiny With New US Limits Proposed

(Bloomberg) -- Gas stoves are coming under fresh scrutiny as a second federal agency has now stepped into the political firestorm with a proposal for new regulations for the appliances. The Energy Department proposal, published Wednesday, sets first-of-their-ki…

Shell Hits the Breaks on Growing Renewables Unit After Record 2022 Profit

(Bloomberg) -- Shell Plc plans to keep investment in its renewables and energy solutions business steady this year after it hit an all-time high in 2022, a signal that the company’s record profits won’t significantly accelerate its low-carbon ambitions. Spendin…

Adani Contagion Spreads as Indian Benchmark Nears Correction

(Bloomberg) -- As a corporate governance crisis deepens with Indian billionaire Gautam Adani’s business empire, a broader range of assets tied to the world’s fastest-growing major economy are starting to take a hit.Contagion from the $108 billion wipeout in Ada…

Sweden’s 27-Year-Old Climate Minister Is Ready to Quit If Goals Are Missed

(Bloomberg) -- The first country in the world to set a target of net zero by 2045, Sweden is already making plans to go carbon-negative. And with just over 100 days in office, the country’s climate and environment minister has vowed to quit if she’s unable to d…

Asia’s Offshore Mega Wind Farms Risk Delays From Ship Shortage

(Bloomberg) -- Asian nations counting on offshore wind farms to meet clean energy goals are facing an increasing shortage of ships for installing the massive turbines in the sea.As countries embark on a rapid build-out of wind power in the next decade, builders…

TotalEnergies, Air Liquide jointly develop a network of hydrogen stations in Europe

TotalEnergies and Air Liquide have agreed to create an equally owned joint venture to develop a network of hydrogen stations, geared towards heavy duty vehicles on major European road corridors. This initiative will help facilitate access to hydrogen, enabling …

Germany May Become Net Power Importer Within Years, Study Shows

(Bloomberg) -- Germany may become a net importer of power within a few years as it phases out nuclear and coal-fired plants, according to network regulator BNetzA.Europe’s industrial powerhouse has been a net exporter of electricity in the last few years. But a…

Biden to Signal Alaska Oil Project Support, Defying Greens

(Bloomberg) -- The Biden administration is on track to telegraph support for a scaled-back drilling plan at ConocoPhillips’s proposed Willow project in northwest Alaska, over the objections of environmentalists who say the world can’t afford to burn the estimat…

How a Soviet Nuclear Site Could Be Key to Europe’s EV Market

(Bloomberg) -- On the edge of Sillamae, a town of just over 12,000 people in northeast Estonia, sits a grassy hill with a secret.It’s here, on the Baltic Sea coast close to the Russian border, where the past is buried. And it’s here, according to one company, w…

China’s Reopening Boost to Commodities Prices Is Losing Power

(Bloomberg) -- The China reopening trade for commodities is showing signs of flagging, as weak demand offsets speculative bets that the end of Covid Zero will reignite growth. Although there seems little doubt that the economy will bounce back this year, quest…

Adani Pulls Off $2.5 Billion Share Sale After Jump in Final Bids

(Bloomberg) -- Beleaguered Indian tycoon Gautam Adani got a reprieve Tuesday by pulling off a closely watched $2.5 billion share sale, defying odds after a short seller’s allegations of corporate malfeasance erased more than a quarter of his group’s market valu…

TotalEnergies starts up solar power plant in Japan

TotalEnergies has started up commercial operation of a 51-megawatt (MW) solar power plant located in Tsu, Mie Prefecture, Japan. The plant, connected to the electricity distribution grid, will supply its electricity to Chubu Electric Power Miraiz Co. Inc., a su…

Howden and Hydrexia sign MoU to accelerate APAC hydrogen mobility sector

Howden and Hydrexia have signed a cooperation agreement focused on streamlining mobility applications, specifically hydrogen refuelling stations. Under the agreement, Howden and Hydrexia will combine their expertise to deliver complete refuelling stations solut…

LedaFlow Technologies forms a carbon capture and storage research consortium

LedaFlow Technologies has formed a research consortium with energy companies ConocoPhillips, TotalEnergies, Equinor, and ExxonMobil Technology & Engineering, as well as sub-suppliers Kongsberg Digital, SINTEF Industry, and SINTEF Energy Research, to enhance…

GHGSat to launch world's first commercial CO2 satellite

GHGSat will launch the world’s first commercial satellite focused on monitoring sources of carbon dioxide (CO2) later this year. Currently under construction, GHGSat-C10 will use the same sensor and communications technologies proven by the company’s pioneering…

Exxon’s $59 Billion Profit Clouded by Buybacks Disappointment

(Bloomberg) -- Exxon Mobil Corp. reaped a record $59 billion annual profit but disappointed some investors by holding the line on share buybacks. Full-year profit, excluding one-time items, jumped 157% from 2021, far exceeding the driller’s prior record of $45.…

Putin’s War in Ukraine Pushes Ex-Soviet States Toward New Allies

(Bloomberg) -- Vladimir Putin invaded Ukraine partly to assert Russia’s regional dominance once and for all. Nearly a year on, the Russian president has achieved the opposite — and not just in Kyiv.Officials from ex-Soviet states in central Asia and the Caucasu…

Oil Set for Monthly Drop as Chinese Demand, Fed Meeting in Focus

(Bloomberg) -- Oil headed for a monthly loss as traders waited for more clues on the outlook for Chinese energy demand, a policy decision from the US Federal Reserve, and the latest guidance from cautious OPEC+ producers.West Texas Intermediate eased toward $77…

Europe’s Fossil Fuel Use Is Set to Plummet in 2023, Report Says

(Bloomberg) -- The amount of electricity produced from burning fossil fuels in the European Union is set to plunge this year as the bloc focuses on renewables to replace energy supplies from Russia. Total fossil generation could drop by 20% this year, with rela…