Carbon & Power Markets News

Oct 27 - Gas crisis helps to land BP $500 million windfall 

BP's trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company's trading results said, as the energy major benefitted from a gas crisis that has left consumers and industries smarting. Natural gas and power prices soared to an all-time high in Europe and parts of Asia in August as the global economy recovered from the pandemic and energy consumption increased faster than supplies. 

Oct 27 - Southeast Asian nations tout green power links ahead of COP26 

Southeast Asian nations are speeding up their plans to transmit renewable energy through a proposed regional power grid, with first trials set for 2022, as the area strives to meet climate change targets, government and company officials said.  Some members of the Association of Southeast Asian Nations (ASEAN) are also exploring carbon capture storage (CCS) technology to reduce emissions, officials said at this week's Singapore International Energy Week conference.

Oct 26  - Biomethane GOs cross-border trading needs a harmonized EU registry system
Biomethane is set to play an important role in the decarbonization of gas supplies, but the lack of a harmonized certification system is preventing the development of a cross-border trading market in Europe, biomethane Guarantees of Origin traders told S&P Global Platts.

Oct 26  - Australia eyes carbon exchange by 2023, growth in carbon trading volumes
The Australian Carbon Exchange is expected to reduce transaction costs -- which are currently high in the over-the-counter secondary market -- convey transparent price and volume information and facilitate the development of innovative products, such as forward and swap carbon trades.

Oct 26  - Updated climate commitments still falling short of global temperature goals: UNEP
Coming ahead of the UN Climate Change Conference in Glasgow Nov. 1-12, UNEP's report found that net-zero emissions pledges could make a big difference.

Oct 26 - EU countries splinter ahead of crisis talks on energy price spike  

Divisions have deepened among European Union countries ahead of an emergency meeting of ministers on Tuesday on their response to a spike in energy prices, with some countries seeking a regulatory overhaul and others firmly opposed. European gas prices have hit record highs in autumn and remained at lofty levels, prompting most EU countries to respond with emergency measures like price caps and subsidies to help trim consumer energy bills.

Oct 26 - China NDRC studying mechanism to stabilise coal prices over long-run 

China's top economic planner said on Tuesday it was studying a mechanism to stabilise coal prices over the long run, in its latest move to cool the red-hot market. The National Development & Reform Commission (NDRC) is looking into the costs and profitability of the coal sector in an effort to work out such a mechanism that will guide prices to move within a reasonable range, it said.

Oct 25  - Australia 'has plan' to achieve net zero by 2050 but no commitment yet: minister
The Nationals, which represent many of Australia's mining constituencies, have traditionally opposed strong action on climate. The elevation of Pitt, however, has given rise to media speculation that a deal on net zero was getting closer.

Oct 25  - China commits to 80% of energy mix from non-fossil fuels by 2060
China's new commitments will influence negotiations at the upcoming UN Climate Change Conference in Glasgow, and also form the basis of a domestic roadmap for its climate goals.

Oct 25  - ICS welcomes progress on carbon pricing at IMO Working Group
The next important step will be for proponents of different mechanisms to submit assessments of the likely impacts on the cost of maritime trade, ICS' Bennett said.

Oct 25 - Exxon Mobil keen to build carbon storage hubs in SE Asia, similar to Houston project  

Exxon Mobil Corp wants to build carbon capture storage (CCS) hubs in Southeast Asia, similar to its project in Houston, Texas, and has started talks with some countries with potential storage options for carbon dioxide, the company's head of low carbon solutions said. Last month, the U.S. energy major said 11 companies have agreed to begin discussing plans that could lead to capturing and storing up to 50 million tonnes per year (tpy) of CO2 in the Gulf of Mexico by 2030. 

Oct 25 - Rocky Mountain high: U.S. looks to Colorado for methane emissions policy 

U.S. environmental regulators are expected to base new rules for controlling methane emissions from oil and gas operations on the nation-leading policies of a state that has been tamping down on the potent greenhouse gas for seven years - Colorado. The U.S. Environmental Protection Agency is likely to unveil the rules, which will have major repercussions for oil and gas drillers, this week, according to sources familiar with early versions of the proposed regulations.

Oct 22  - Plug Power breaks ground on its largest green hydrogen facility in New York
Plug Power has begun construction on a $290 million hydrogen production facility and electrical substation in New York's Genesee County that the company says will provide transportation fuel to customers at prices competitive with diesel.

Oct 22 - Rising LNG imports provide scant relief for Europe's power crisis 

Europe's imports of liquefied natural gas (LNG) are picking up as winter approaches but there is little relief for the region's power crunch because competition with Asia for supplies is so intense. Power and gas demand has spiked due to low inventories and surging requirements in Asia and Europe as economies recover from the COVID-19 crisis. 

Oct 22 - Britain faces 'massacre' of 20 more bust energy suppliers, Scottish Power says 

Britain's energy market faces an absolute massacre that could force at least 20 suppliers into bankruptcy in the next month alone unless the government reviews the energy price cap, Scottish Power Chief Executive Keith Anderson said on Thursday. Natural gas prices have spiked this year as economies reopened from COVID-19 lockdowns and high demand for liquefied natural gas in Asia pushed down supplies to Europe, sending shockwaves through industries reliant on power.

Oct 21 - Ineos plans hydrogen production for transport from UK Runcorn chemicals site
'Hydrogen-powered transport will play a critical role in the UK's journey to net-zero,' Inovyn CEO Geir Tuft said.

Oct 20  - Maersk CEO welcomes industry pledge to use only zero carbon fuels by 2040
Leading cargo owners such as Amazon, Unilever and IKEA teamed up with the Aspen Institute to publicly announce a signed ambition statement.

Oct 20 - Major coal miners in China vow to boost output, cap prices 

Some of China's major coal producers have vowed to cap thermal coal prices this winter and next spring, after the government asked state-backed firms to ensure stable coal and power supply "regardless of costs". China's thermal coal prices have surged over 200% this year to record highs as mining safety inspections, anti-corruption probes and floods at major mining regions hurt supplies.  

Oct 20 - Investor group to pressure utilities on net zero emissions deadline 

A coalition of investors with more than $60 trillion in assets under management is preparing to call on electric utility companies globally to move up their timeline by as much as 15 years to bring their net greenhouse gas emissions to zero. Utilities account for about 40% of emissions worldwide, more than any other sector.

Oct 19  - South Korea finalizes 2050 carbon neutrality roadmaps
"Several coal-fired power plants will be transformed into LNG-based ones," the official said.

Oct 19  - Biofuel groups raise hand as US looks to boost competitiveness of clean energy exports
The US is the world's largest producer of ethanol, accounting for more than 50% of global output. And with China, Canada and India mulling the use of higher blends of ethanol, market opportunities for US ethanol are growing as more countries look for ways to meet climate goals and decarbonize their transportation sectors.

Oct 19  - UK gives nod to CCS, hydrogen projects, infuriating Scottish leadership
The UK government on Oct. 19 unveiled financial backing for two carbon capture and storage projects intended to curb emissions from North of England industrial facilities, but infuriated Scottish authorities by sidelining the long-standing Acorn carbon capture project seen as promising a greener future for the North Sea industry.

Oct 19 - Gazprom books fraction of gas transit capacity via Poland, ignores Ukraine 

Russian gas giant Gazprom has booked about a third of offered additional gas transit capacity via the Yamal-Europe pipeline via Poland for November and has not booked any volumes via Ukraine, auction results showed on Monday. Gazprom's data also showed its gas exports declined in the first half of October from the same period in September.

Oct 19 - Portugal's EDP to invest up to 13 bln stg in UK wind and solar by 2030 

Power company Energias de Portugal (EDP) plans to invest 12.86 billion pounds ($17.65 billion) in wind and solar projects in Britain by 2030 as the country strives to lower its emissions to net zero by mid-century. EDP plans to invest via its subsidiary EDP Renovaveis (EDPR), the world's fourth largest renewable energy producer, which has 1 gigawatt (GW) of offshore wind capacity under construction and 0.9 GW under development in Britain.

Oct 18 - Next four UK carbon permit auctions to have more on the block after partial clearance 

More than a million carbon permits were not sold at a UK auction last week and their sale will now be spread out across the next four auctions, the UK's Emissions Trading System (UK ETS) Authority said. This was the first time that a UK ETS auction has had unsold permits with the 10 previous auctions having fully cleared.

Oct 18 - Europe trumping Asia in contest for LNG amid record prices: Russell 

The supply of liquefied natural gas (LNG) globally is increasing as exporters respond to strong demand and record high prices, but it appears that Europe is grabbing a bigger share of the extra cargoes than Asia. Imports of the super-chilled fuel are expected to reach 31.70 million tonnes in October, say commodity consultants Kpler, which would be the highest since May, and up from September's 30.01 million.

Oct 15 - China looks to lock in U.S. LNG as energy crunch raises concerns - sources  

Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and domestic power shortages heighten concerns about the country's fuel security, several sources said. At least five Chinese firms, including state major Sinopec Corp and China National Offshore Oil Company (CNOOC) and local government-backed energy distributors like Zhejiang Energy, are in discussions with U.S. exporters, mainly Cheniere Energy and Venture Global, the sources told Reuters. 

Oct 15 - Germany to slash renewable power fee to ease burden of higher energy bills - sources 

Germany is planning to ease the pressure on consumers from rising energy bills by cutting the surcharge which helps fund renewable energy investment by 43% next year, industry and government sources told Reuters on Thursday. The renewable power support surcharge paid to producers is a major contributor to consumers' electricity bills.

Oct 14 - Russia can help Europe, not using gas as a weapon says Putin 

President Vladimir Putin said on Wednesday Russia was not using gas as a weapon and was ready to help ease Europe's energy crunch as the EU called an emergency summit to tackle skyrocketing prices. Energy demand has surged as economies have rebounded from the pandemic, driving up prices of oil, gas and coal, stoking inflationary pressures and undermining efforts to cut the use of polluting fossil fuels in the fight against global warming.

Oct 14 - Two more British Energy suppliers cease trading 

Two more British energy suppliers have ceased trading, regulator Ofgem said on Wednesday, taking the total number of firms to go bust since the beginning of September to 11 as companies struggle with record wholesale energy prices. Pure Planet, in which oil major BP holds a stake of about 24% and which has around 235,000 customers, and Colorado Energy, with 15,000 customers, have exited the market.

Oct 13  - Skyrocketing gas prices drive up ammonia costs: sources
The trend remains bullish in Europe, although that is creating some panic in Mediterranean and North African markets where gas prices have not soared as high, the source said.

Oct 13  - Blue hydrogen lifespan raises questions over carbon offsets
Many facilities proposed in the EU would be commissioned in the second half of this decade, raising questions over the need for significant carbon offsetting after 2050.

Oct 13  - Renewable hydrogen could enable 80% reduction in global shipping emissions by 2050: IRENA
IRENA said announced projects for renewable ammonia will total 17 million mt/year of production capacity by 2030.

Oct 13  - Global power demand set to soar, focus on implementation, ambition gaps: IEA
Global electricity demand is expected to increase 30% by 2030, intensifying the need to accelerate the growth in green power to meet net-zero targets, the International Energy Agency said in its annual World Energy Outlook Oct. 13.

Oct 13  - India Reliance signs deals to develop low cost hydrogen, 'green' solar technology
Hydrogen is a new field for the country that has a total power generation capacity of 388 GW and imports around 201.5 million mt or 4 million b/d of crude oil a year.

Oct 13 - China coal prices hit record high as floods add to supply woes 

China's thermal coal prices surged to fresh record highs on Wednesday as recent floods in key coal producing province Shanxi worsened a supply crunch, just as new efforts by Beijing to liberalise power prices boosted demand from power generators. China, the world's largest coal consumer, has been grappling with a growing energy crisis brought on by shortages and record high prices for the fuel. 

Oct 13 - European gas price surge prompts switch to coal  

Soaring European wholesale gas prices are encouraging more utilities to switch to carbon-heavy coal to generate electricity just as the region tries to wean nations off the polluting fuel. Although European coal and carbon prices have also jumped in recent months, they have lagged the spike in gas prices, causing short-term marginal costs to shift in favour of using coal to generate electricity.

Oct 12  - Consortium plans 700-MW blue hydrogen project in Thames with Scottish CCS by 2027
Project Cavendish aims to be operational by early 2027, capturing and storing 1.2 million mt/year of CO2.

Oct 12  - Scottish offshore wind consortium studies Orkney renewable hydrogen project
If successful, the proposed 2-GW West of Orkney Windfarm could supply renewable power to a hydrogen production facility at the Flotta Terminal, OWPL said.

Oct 12 - China to liberalise thermal power pricing to tackle energy crisis 

China's state planner, the National Development and Reform Commission (NDRC), said on Tuesday it will fully liberalise pricing for electricity generated from coal and that industrial and commercial users will all have to buy from the market. The NDRC said, giving no specific time frame, that 100% of electricity generated from coal-fired power will be priced via market trading, up from 70% in the country now. 

Oct 12 - Qatar can't help red hot gas markets as production at maximum 

Qatar, the world's largest supplier of liquefied natural gas, said on Monday it can't help ease the red hot gas market because it has allocated all its output and believes the high prices are destructive for demand. "We are maxed out as far as we have given all our customers their due quantities," Qatar's energy minister Saad al-Kaabi said.

Oct 12 - Chevron commits to net zero operational emissions by 2050

Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure on energy companies to join the fight against climate change.

Oct 11  - UK's Harbour Energy granted CO2 storage license for Humber refining region
Several carbon capture and storage projects have been announced in the run-up to COP26 climate talks in Glasgow in November, following a lack of progress implementing the technology on an industrial scale under previous governments.

 Oct 11  - Chevron sets 2050 net-zero targets for upstream emissions
The aspirational target falls short of some European rivals, such as Shell, which also aims to hit net-zero for its more downstream fuel emissions, known as Scope 3 emissions. Chevron's goal fits more closely with previous announcements from BP, Total and others.

Oct 11  - Hong Kong climate plan envisages end to coal-fired power, ICE cars by 2035
Hong Kong also plans to achieve the long-term target of zero carbon emissions from vehicles and the transport sector before 2050 through measures including the electrification of vehicles and ferries.

Oct 11 - Indian states suffer power cuts as coal stocks shrink 

North Indian states have suffered electricity cuts and face further outages because of a lack of coal, an analysis of government data and interviews with residents found, contradicting government assurances there is enough power. The shortages in India - the world's largest coal consumer after China - follow widespread outages in neighbouring China, which has shut factories and schools to manage the crisis.

Oct 11 - Australian carbon offset prices hit record high in polluters' spree 

Australia's carbon offset prices have jumped 75% to a record high this year in a buying spree by major polluters who need offsets after exceeding emissions levels set by the government. The unexpected surge in demand to meet a February regulatory deadline amid a temporary shortage of credits has driven prices higher. They could spike even further if Australia bows to international pressure to tighten its emissions reduction pledge for 2030 ahead of a UN climate summit which starts on Oct. 31.

Oct 08 - China's top coal region tells mines to boost output immediately 

Chinese officials ordered more than 70 mines in Inner Mongolia to ramp up coal production by nearly 100 million tonnes as the country battles its worst power crunch and coal shortages in years. The move is the latest attempt by Chinese authorities to boost coal supply amid record-high prices and shortages of electricity that have led to power rationing across the country, crippling industrial output. 

Oct 08 - Dash for gas sparks oil switch, pushes more suppliers to brink 

Soaring gas prices are forecast to drive a switch to oil and put more energy suppliers in Britain out of business, while industry groups called on Thursday for government action to ensure there is no supply interruption this winter. Natural gas prices, particularly in Europe, have rocketed this year due to lower-than-usual stocks, reduced supply from Russia, the onset of colder temperatures and infrastructure outages.

Oct 07 - Record gas prices slow LNG investment in Asia; N.America scrambles on exports 

Some of the world's biggest importers of liquefied natural gas (LNG) are reducing orders in the face of a 500% price surge within a year, raising concerns among major producers about potential long-term destruction of demand. LNG buyers, including numerous emerging economies in Asia, are balking at prices that have doubled just within the past month, while a growing number of exporters in North America are straining to boost export capacity that will still take years to come online.

Oct 07 - Lawyers warn EU against labelling gas as a 'green' investment 

The environmental law firm ClientEarth has warned the European Union that it would be breaching its own laws if it labels investments in gas-fuelled energy as "green" in upcoming finance regulations. In a Wednesday letter to the bloc's executive seen by Reuters, ClientEarth said categorising gas as environmentally friendly would violate other laws, including the EU's legally binding target to reduce its net greenhouse gas emissions by at least 55% by 2030 from 1990 levels, and bring them to zero by 2050.

Oct 06 - ADNOC's Japanese blue ammonia deals seen vying with Saudi Arabia, Australia's green projects
Aramco and ADNOC are likely to use their connections to woo investments to their blue ammonia projects.

Oct 06 - LNG shipping rates climb to multi-month highs on demand for vessels 

Freight rates to ship liquefied natural gas (LNG) rose to multi-month highs this week as a surge in demand for the super-chlled fuel has increased the need for vessels to move supplies, multiple trade and shipping sources said. The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic metres of LNG to Pacific basin ports rose to $76,000 a day on Tuesday, the highest since February, according to data from Spark Commodities.

Oct 06 - Germany seeks competition assurances over Nord Stream 2 gas link 

Germany's energy regulator said the Nord Stream 2 pipeline must show it would not break competition rules by limiting which suppliers used it and could face a fine if it started pumping Russian gas to Germany without securing necessary approvals. Nord Stream 2, a project led by Gazprom, which has a monopoly on Russian pipeline gas exports, will pump the fuel under the Baltic, bypassing Ukraine, which is embroiled in a long-running territorial dispute with Moscow.

Oct 06 - World's largest miners pledge net zero carbon emissions by 2050

The world's top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. "ICMM members' collective commitment to net zero scope one (direct) and two (indirect) greenhouse gas emissions by 2050 is a pivotal moment in our history," CEO Rohitesh Dhawan said in an open letter signed by the 28 chiefs of the world's largest miners. 

Oct 05 - China expected to announce clearer emissions reduction and peak carbon plans: executive
Clarifying the carbon peak and when it is to be achieved is a crucial step for China to realize its climate commitments.

Oct 05 - China's Zhejiang province imports first thermal coal from Kazakhstan - state media

China's Zhejiang province has brought in its first shipment of thermal coal from Kazakhstan, state media reported on Monday, as the east-China manufacturing hub scouts for new sources of supply amid a nation-wide coal shortage and record prices. The 136,000-tonne shipment of 6,000-calorie premium quality coal was being discharged at Liuheng terminal after a 30-day voyage, state-run Zhejiang Daily reported.  

Oct 05 - Commodity traders face big margin calls as gas prices soar 

The world's top commodity trading houses are being told by brokers and exchanges to deposit hundreds of millions of dollars in extra funds to cover their exposure to soaring gas prices, seven sources with direct knowledge of the matter told Reuters. Glencore, Gunvor, Trafigura and Vitol are among the commodity merchants facing what are known as margin calls on their financial positions in natural gas markets, the sources said.

Oct 05 - LNG sellers seek credit letters as gas price spike stretches credit limits 

Sellers of liquefied natural gas (LNG) are asking for credit letters from companies they deal with to guarantee they can pay as the global spike in gas prices takes them beyond their credit limits, industry sources said. Defaults have been rare in LNG, which has typically relied on big players with deep pockets, but over the last two-to-three years, around 20-to-30 companies have entered the market, at least doubling the number of relatively small players.

Oct 04 - What's behind the wild surges in global LNG prices and the risks ahead 

In less than a year and a half, liquefied natural gas (LNG) prices have lurched from record lows to record highs, with the market first reeling from the impact of the pandemic and now unable to keep up with a global recovery in demand. Demand jumped on economic growth plus a cold northern hemisphere winter followed by a hot summer, while supplies have been stymied by production problems. 

Oct 04 - European gas prices hit all-time highs as Russian flows slump 

European gas prices surged to all-time highs on Friday as Russia kept a tight lid on supply, signalling further price pressures on European consumers heading into the winter heating season. Russian gas supplies via the Yamal-Europe pipeline fell on Friday by almost 77% from Thursday, according to data from grid operator Gascade, as Kremlin-controlled Gazprom booked only a third of its available capacity for October.

Oct 01  - Denmark says to accelerate climate efforts with 2025 decision deadline
Denmark's government has set a 2025 deadline for decisions to be in place to deliver a 70% reduction in CO2 emissions by 2030, the Climate and Energy Ministry said Sept. 29.

Oct 01  - China power shortages provide lessons for sector reforms in climate push
The ongoing power crisis in China provides key lessons for sector reforms to overhaul the electricity system, build a new grid based on renewables and decarbonization, and ensure stable energy transition amid shifting priorities, Chinese experts said at the launch event of International Energy Agency's report on a carbon neutrality roadmap for the country's energy sector.

Oct 01 - Panama aims to end coal imports, produce ethanol to cut emissions – minister 

Panama will advance a clean-energy push by embracing ethanol in its gasoline and ending the use of heavy fuels and coal for its power plants by 2023, the nation's energy minister said. Even though Panama promotes itself as being carbon-negative, the Central American nation wants to further diversify its sources of electricity generation, cut emissions from transportation and expand its regional power interconnections.

Oct 01 - India coal crisis brews as power demand surges, record global prices bite 

Indian utilities are scrambling to secure coal supplies as inventories hit critical lows after a surge in power demand from industries and sluggish imports due to record global prices push power plants to the brink. Over half of India's 135 coal-fired power plants have fuel stocks of less than three days, government data shows, far short of federal guidelines recommending supplies of at least two weeks.

Oct 01 - Vietnam says no extension of price offer for wind power developers 

Vietnam will stick to its plan to end its offer of a fixed wind power feed-in tariff (FiT) in November, the government said on Thursday, despite calls from developers to extend it due to coronavirus-induced delays on their projects. Vietnam was looking to more than double its power generation capacity over the next decade with a focus on renewable energy. In 2018 it set the FiT at 8.5 cents/kWh for wind energy projects that could become operational before Nov. 1 this year.

Sep 30 - The king of oil bets on batteries for a green world 

Alex Beard is losing his thirst for oil. Once one of the world's most powerful oil traders, the former Glencore executive is now raising money to build a portfolio of strategic battery sites across the United Kingdom to support the renewable energy industry. In his first interview since leaving the commodities giant in 2019, billionaire Beard said his Adaptogen Capital investment fund planned to build storage with a capacity of at least 500 megawatts (MW) to power homes when grid supplies fall short.

Sep 30 - Global energy shortage or a coincidence of regional crises? 

Gasoline stations running dry in Britain. Power costs surging in the European Union ahead of winter. Forced restrictions on energy use in China. And rising prices for oil, natural gas and coal. You would be forgiven if these events made you believe the world had suddenly been stricken by a global energy shortage. But you would also be mostly wrong.

Sep 29 - China calls for coal transportation to be strengthened to secure supply 

China's top economic planner said on Wednesday that railway companies and local authorities should strengthen coal transportation in key areas including the northeast region and ensure stable supply for power generation.  The National Development and Reform Commission (NDRC) sent local economic planners, energy administrations and railway companies a notice urging them to reinforce coal transportation to secure enough supply to meet residents' heating demand during the winter season. 

Sep 29 - Spain's Iberdrola buys Australian solar farm project from RES Group 

Spanish utility company Iberdrola has bought the Avonlie solar farm project in Australia's New South Wales from Renewable Energy Systems Group, the British developer said, without disclosing the deal amount. It is RES's largest ever solar project, which once fully operational will have 450,000 solar panels and will generate electricity for 80,000 homes in the east coast state.

Sep 28 - China energy crunch triggers alarm, pleas for more coal 

As a severe power crunch roils China's northeastern industrial heartland, senior officials face mounting pressure from alarmed citizens to ramp up coal imports thick and fast in order to keep lights on, factories open and even water supplies flowing. With electricity shortages sparked by scant coal supply crippling large sections of industry, the governor of Jilin province, one of the hardest hit in the world's no.2 economy, called for a surge in coal imports, while a power company association said supply was being expanded "at any cost".

Sep 28 - Tariffs, seizures expose U.S. solar industry's vulnerability to imports 

Cheap imports have fueled the U.S. solar industry's dramatic growth for years. Now, mounting trade and transport issues is exposing that dependence as a vulnerability, slowing shipments and putting big projects at risk, according to industry representatives. Tighter availability of foreign panels could hurt the booming industry and set back President Joe Biden’s effort to decarbonize the nation’s power sector, a centerpiece of his plan to combat climate change. Some 90% of U.S. solar panels are made overseas, according to the U.S. Energy Information Administration.

Sep 27 - EEX bourse prices power for up to 10 years to help push renewables roll-out 

The European Energy Exchange (EEX) on Monday expanded its yearly power futures contracts for Germany, Italy and Spain to 10 calendar years ahead from six currently, part of a move to help integrate renewable energy into the wholesale power market. EEX, a subsidiary of Deutsche Boerse, is the world's leading electricity exchange, where annual maturities form price benchmarks for producers, consumers and investors in power generation.

Sep 27 - APPEC-Asia needs carbon pricing for swift energy transition - BP exec 

Asia needs to adopt a carbon pricing mechanism to help accelerate its transition towards lower emissions, a senior company official at oil major BP said on Monday. "A well designed carbon pricing framework that is able to prevent carbon leakage, moving carbon to another area, needs to take place for a transition," said Eugene Leong, president of BP Singapore and chief executive of BP's trading & shipping arm of Asia Pacific and the Middle East.

Sep 24 - EU countries struggle to agree approach to COP26 climate talks 

European Union countries are struggling to agree their negotiating position for the COP26 climate change conference, with rifts emerging over timeframes for emissions-cutting pledges, according to officials and documents seen by Reuters. The EU is drafting its position ahead of the November COP26 talks, where countries will attempt to finish the technical rules to put the Paris Agreement into effect.

Sep 24 - China's pledge to cut project finance is the 'new normal' for coal 

Australia and Indonesia, the world's biggest coal exporters, face an accelerated decline in global demand for their coal shipments after China said it would stop building coal-fired power plants overseas, analysts, environmental groups and industry officials said. Chinese President Xi Jinping announced the move at the United Nations General Assembly on Tuesday, prompting environmental campaigners to predict a direct impact on major coal exporters.

Sep 23 - Financial institutions direct billions of dollars to address climate change
The world is emitting about 42 gigatons of carbon dioxide every year and on that basis in order stabilize atmospheric CO2 levels to prevent global warming above 1.5 degrees Celsius, there are fewer than eight years before the full carbon budget is used up, Tom Steyer said.

Sep 23 - Developed economies must help emerging markets switch to lower emissions, experts say
In 2018, developed economies failed to raise the $70 billion needed to assist emerging markets so they could make the transition to a cleaner energy mix, Fergus McCormick, director of sovereign research at the Emerging Markets Investors Alliance, said during a virtual seminar.

Sep 23 - White House backs plan for renewable energy industry tax partnerships 

The White House is backing a plan by House of Representatives Democrats to let renewable energy firms form tax-advantaged partnerships that the oil and gas industry has used for decades to build out the U.S. pipeline and storage infrastructure, according to three people familiar with the matter. The expansion would allow the renewable energy industry - from wind and solar to biofuels like ethanol - to form master limited partnerships, known as MLPs, that combine the funding advantages of corporations with the tax advantages of partnerships.

Sep 23 - Canada fossil fuel workers want victorious Trudeau to keep retraining pledge 

Prime Minister Justin Trudeau's narrow election victory this week reinforced Canada's commitment to reach net-zero greenhouse gas emissions by 2050, but workers in the country's sizable fossil fuel sector said they also expect him to keep his promises to retrain them for jobs in a clean-energy economy. Oil worker advocacy group Iron & Earth estimates Canada will need around C$10 billion ($7.8 billion) over 10 years to retrain fossil fuel workers, but is sceptical about government promises to help after past pledges failed to materialise.

Sep 22 - Shell set to launch Singapore's first electric ferry
Shell has awarded a contract to Singapore's Penguin International Limited to design, build and operate at least three fully-electric ferries.

Sep 22 - Chinese collaboration sees carbon emissions offset from lifecycle of crude oil cargo
Shanghai Environment and Energy Exchange on Sept. 22 granted certificates to Sinopec, China COSCO Shipping and China Eastern Airlines as proof that the volume of offsets applied against the cargo was sufficient to cover the expected GHG emissions from the entire lifecycle including oil extraction, transport, storage, shipping, refining, subsequent use and combustion.

Sep 22 - Renewables, petrochemical integration way forward for European refiners
"European refiners need to adapt, some need to close down, start biofuel production or hydrogen," Aker Chief Economist Torbjorn Kjus said

Sep 22 - In climate pledge, Xi says China will not build new coal-fired power projects abroad 

Chinese leader Xi Jinping said on Tuesday that China would not build new coal-fired power projects abroad, using his address at the United Nations General Assembly to add to pledges to deal with climate change. Xi provided no details, but depending on how the policy is implemented, the move could significantly limit the financing of coal plants in the developing world.

Sep 22 - UK to pay tens of millions to get carbon dioxide pumping again 

Britain's deal with CF Industries to get the American company to restart the production of carbon dioxide (CO2) after soaring gas prices will cost tens of millions of pounds, Environment Secretary George Eustice said. "It's going to be into many millions, possibly the tens of millions but it's to underpin some of those fixed costs," Eustice told Sky. "They're big costly plants"

Sep 21 - CEC, CNC carbon assessments spread narrows on rising interest in CORSIA credits
The spread has narrowed primarily because of the surge of prices in the CORSIA space.

Sep 21 - Shell to develop energy parks to focus on waste-based, low carbon-based feedstocks
Shell's target is to reduce its CO2 emissions by 30% by 2030 and become a net-zero emissions business by 2050.

Sep 21 - Lawmakers ask Biden to consider RIN market reforms to aid independent refineries

A group of Pennsylvania Congress members are seeking federal government intervention to preserve refining capacity in their state that they say is threatened by the high price independent refineries are paying to comply with the Renewable Fuel Standard.

Sep 21 - Renewable Energy Directive objectives have not delivered: ePure
"The progress so far is that close to 9% of energy in transport is from renewables, but we started in 2009 at 4.6%," Emmanuel Desplechin, said Sept. 21 at the S&P Global Platts European Biofuels Virtual Conference.

Sep 21 - Dutch CCS project scrapped after Tata Steel opts for hydrogen DRI production route
"The expected Tata Steel CO2 volume available for the Athos project was the basis for its conceptual, technical and economical considerations," Athos said.

Sep 21 - Gidara Energy's biofuels plant in Amsterdam to start operations in 2023
The high-pressure gasification technology takes feedstock such as wood waste, sewage sludge, wastepaper, agricultural residue and municipal solid waste and can produce a range of end-products such as methanol, bio-diesel, MTBE, green hydrogen, bio-ammonia and others.

Sep 21 - BP gambles big on fast transition from oil to renewables 

Deep in the Oman desert lies one of BP's more lucrative projects, a mass of steel pipes and cooling towers that showcases the British energy giant's pioneering natural gas extraction technology. The facility earned BP Plc more than $650 million in profits in 2019, according to financial filings reviewed by Reuters. Yet the oil major agreed to sell a third of its majority stake in the project earlier this year. The deal exemplifies a larger strategy to liquidate fossil-fuel assets to raise cash for investments in renewable-energy projects that BP concedes won't make money for years.

Sep 21 - U.N. chief, UK PM increase pressure on leaders for climate change funds 

UK Prime Minister Boris Johnson urged leaders of the world's major economies including the United States to deliver on their commitments toward a $100 billion per year climate fund with less than six weeks to go before a U.N. climate summit. Johnson and U.N. Secretary-General António Guterres hosted a roundtable of world leaders on Monday to address major gaps on emissions targets and climate finance.

Sep 20 - Oil majors pledge net zero target, update goals to cut methane, carbon intensity
The OGCI includes BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Saudi Aramco, Shell and Total.

 Sep 20 - Russia will adopt energy transition action plan by year-end: prime minister
Russia will adopt an action plan to adapt the Russian economy to the global energy transition, aimed at decreasing oil and gas in its energy mix, by the end of 2021, Prime Minister Mikhail Mishustin said Sept. 20.

Sep 20 - National climate targets mean global emissions could peak before 2030: UN
Total global GHG emissions, without land-use and forestry, and taking into account the latest national commitments, are expected to rise to around 54.8 billion mt of CO2 equivalent by 2025 and 55.1 billion mt by 2030, the UN said in the report.

Sep 20 - Oil giant Shell sets sights on sustainable aviation fuel take-off 

Royal Dutch Shell plans to start producing low-carbon jet fuel at scale by 2025, in an attempt to encourage the world's airlines to reduce greenhouse gas emissions. Aviation, accounting for 3% of the world's carbon emissions, is considered one of the toughest sectors to tackle due to a lack of alternative technologies to jet fueled-engines.

Sep 20 - Biden asks world leaders to cut methane in climate fight 

U.S. President Joe Biden urged world leaders on Friday to join the United States and European Union in a pledge to cut methane emissions, hoping to build momentum before an international summit on climate change begins next month. Biden made the remarks during a virtual meeting of the Major Economies Forum (MEF), a follow-up to an Earth Day meeting he hosted in April to unveil new U.S. greenhouse gas emissions reduction targets and press other countries to do more to curb theirs.

Sep 17 - RWE qualifies as bidder for French floating offshore wind project 

RWE, one of Europe's largest renewables companies, said it had qualified as a bidder in an upcoming tender for a French floating offshore wind project in south Brittany. The project, to be located off the island Belle-Île and Île de Groix in South Brittany and installed in water depth of about 90 metres, will be the first commercial floating project in France and have a capacity of 270 megawatts, RWE said.

Sep 17- Renewable gas producer Archaea surges in debut after SPAC deal 

Shares of Archaea Energy jumped as much as 9.2% on the largest U.S. renewable natural gas producer's debut on the New York Stock Exchange on Thursday, a sign of rising investor support for alternative, cleaner sources of energy. Archaea, which went public by merging with the blank-check firm Rice Acquisition Corp in a $1.15 billion deal, closed at $19.95 on Thursday, up from the $18.27 price the SPAC's shares traded at on Wednesday.

Sep 17 - Cargill launches U.S. carbon farming program for 2022 season 

Global commodities trader Cargill Inc said on Thursday it is launching a carbon farming program for the 2022 season that will pay growers for production practices that lower emissions and capture more climate-warming carbon in soils. Cargill's RegenConnect program will use soil sampling, farm data and remote sensing to estimate the environmental benefit of practices like planting cover crops or not tilling soils, then pay growers $20 for every ton of the carbon sequestered.

Sep 16 - Italy's Saras to study CO2 capture and storage at Sarroch refinery
Saras owns the 300,000 b/d Sarroch refinery in Sardinia. In addition to conventional oil refining, Saras has been looking to expand its biofuel production capacity at Sarroch and has considered investments in hydrogen.

Sep 16 - Investor group sets tough climate blueprint for Big Oil 

Investors managing more than $10 trillion on Wednesday published an ambitious blueprint for energy companies seeking to tackle climate change, including sharp cuts to greenhouse gas emissions and a winding down of oil and gas production. The unprecedented initiative - dubbed the Net Zero Standard for Oil and Gas - details 10 required standards to help money managers compare companies' strategies and understand whether they are aligned with United Nations-backed efforts to reduce global carbon emissions to net zero by 2050.

Sep 16 - Top carbon emitters fall short on climate risk disclosure, report says 

Top emitters of carbon are not disclosing the full risks associated with climate change, reducing the chances of meeting global emissions targets, a study by Carbon Tracker and the Climate Accounting Project (CAP) said on Thursday. The CAP is an informal team of accounting and finance experts drawn from the investor community and commissioned by the Principles for Responsible Investment (PRI), while Carbon Tracker is funded by around 30 charitable foundations.

Sep 15 - Chevron triples low-carbon investment, but avoids 2050 net-zero goals 

Chevron Corp on Tuesday pledged to triple to $10 billion its investments to reduce its carbon emissions footprint through 2028, while saying it was not yet ready to commit to a 2050 net-zero emissions target. Oil producers globally are under mounting pressure from investors and governments to join the fight against climate change and sharply cut greenhouse gas emissions by mid-century, with U.S. majors lagging efforts by European companies.

Sep 15 - Australia's Calix snares backing for carbon capture technology 

Australia's Calix Ltd has lined up an investor to buy a stake in its carbon capture technology unit, valuing the business at A$350 million ($256 million), it said on Wednesday. Calix's shares rocketed 20% to a record high after the company said Carbon Direct, a New York-based investor, had invested 15 million euros ($18 million) for a 7% stake in Calix's LEILAC Group to back the scaling-up of its technology.

Sep 14 - Chevron, Enterprise Products team up on potential carbon capture projects
Gustavson noted that international climate change scientists working with the United Nations have identified carbon capture as a critical technology needed to help the world transition to a lower carbon future.

Sep 14 - U.S., EU pursuing global deal to slash planet-warming methane - documents 

The United States and the European Union have agreed to aim to cut emissions of the planet-warming gas methane by around a third by the end of this decade and are pushing other major economies to join them, according to documents seen by Reuters. Their pact comes as Washington and Brussels seek to galvanize other major economies ahead of a world summit to address climate change in Glasgow, Scotland, in November, and could have a significant impact on the energy, agriculture and waste industries responsible for the bulk of methane emissions.

Sep 14 - Stop funding coal abroad, NGO group tells top investor Bank of China 

Bank of China (BoC), a top global investor in coal- power plants, must end the financing of such projects outside the mainland and support clean and renewable energy instead, an alliance of 35 non-governmental organisations said on Tuesday. The comments, made in an open letter to state-controlled BoC's chairman Liu Liange and signed by groups from 13 countries in Asia, Africa and Europe, add to the growing criticism of China for financing coal-fired power stations overseas, especially as part of its Belt and Road Initiative.

Sep 13 - Horisont applies for CO2 storage license for Barents Blue ammonia project
Facility will tie into the planned 3,000 mt/day low-carbon ammonia Barents Blue project in Hammerfest.

Sep 13 - Germany's Merkel seeks to calm Poland's Nord Stream 2 fears 

German Chancellor Angela Merkel tried to soothe fears over the Nord Stream 2 gas pipeline on Saturday, on a farewell visit to Poland during which she also struck a conciliatory tone on Warsaw's conflict with the European Union over judicial reforms. As Merkel's time as Chancellor draws to a close, the issue of the pipeline from Russia has soured relations with central and eastern European nations, some of them EU members, who say it will increase the bloc's dependence on Russian gas and could be used by Moscow to exert pressure.

Sep 13 - Green investments to be part of EU budget rules review - Dombrovskis 

The possibility of exempting "green" investments from EU deficit calculations will form part of discussions when EU budget rules are revised, European Commission Vice President Valdis Dombrovskis said on Saturday. The idea to exempt investments that would help prevent climate change is to support the bloc's ambition to cut net CO2 emissions to zero by 2050. The exemption of investments in such projects has been nicknamed by EU officials as the "golden rule".

Sep 10 - California asks Biden administration to allow gas plants to run at maximum 

California's grid operator has asked the Biden administration to allow some natural gas power plants to operate without pollution restrictions for 60 days to shore up the state's tight electricity supplies, the U.S. Energy Department said on Thursday. The California Independent System Operator (CAISO), which is seeking an emergency order by Sept. 10, made the ask in a Sept. 7 letter to Energy Secretary Jennifer Granholm.

Sep 10 - Illinois legislature edges closer to saving two nuclear power plants 

The Illinois House late on Thursday passed an energy bill with nearly $700 million in incentives for two Exelon Corp nuclear power plants, taking the legislature one step closer to saving the plants the company has threatened to close starting on Monday. "What the House has accomplished tonight is monumental and life changing for the future generations of Illinois," said House Speaker Emanuel "Chris" Welch, a Democrat.

Sep 09 - Solar energy can account for 40% of U.S. electricity by 2035 - DOE 

The Biden administration on Wednesday released a report showing the United States can get 40% of its electricity from solar energy by 2035, a significant jump. The Solar Futures Study outlines how solar energy can help decarbonize the U.S. power grid and help achieve a Biden administration goal of net zero emissions in the electricity sector by 2035.

Sep 09 - Activist ENKRAFT takes stake in RWE, calls for separation of lignite ops 

Activist fund ENKRAFT has taken a stake in RWE and is calling for a separation of the company's brown coal activities to remove the burden of a legacy business that has weighed on the value of shares in Germany's largest power producer. ENKRAFT, which has a track record in investing in the renewable energy sector, now holds more than 500,000 shares in RWE -- worth 16.4 million euros ($19 million) at current prices -- it said in a letter to management seen by Reuters.

Sep 08 - Exxon to begin certifying some shale gas emissions amid investor pressure 

Exxon Mobil Corp on Tuesday said it will begin measuring methane emissions from production of natural gas at a New Mexico facility, joining a number of shale gas producers seeking to provide the data to buyers. The largest U.S. oil company, under pressure from investors and environmentalists to address climate concerns, follows shale producers including EQT Corp in offering independently verified emissions data to buyers seeking to reduce their own carbon footprints. 

Sep 08 - Record Chinese coal futures signal need to boost output: Kemp 

China’s coal prices have climbed to a record high, signalling the need for more production in the short term, even as the government tries to reduce reliance on coal-fired power generation in the long term. Prices for the most-traded thermal coal futures contract on the Zhengzhou Commodity Exchange hit $150 a tonne on Tuesday, up from $85 a year ago, which was also the five-year average before the COVID-19 pandemic.

Sep 07 - Shipping bodies launch fresh proposals to curb emissions
- Renewable ammonia could be over three times costlier than fuel oil
- Platts voluntary CEC credits at $7.00/mtCO2e

Sep 07 - UK's Lindsey refinery joins Humber CO2 capture and storage project
- Project to store CO2 in depleted North Sea gas fields
- Plans to capture 1.1 million mt of CO2/year from refinery

Sep 07 - China Aug coal imports rise 36% on tight domestic supply 

China's coal imports in August rose 35.8% from a year ago as buyers rushed to source the dirty fuel from overseas due to tight domestic supply and strong demand. China, the world's biggest coal consumer, brought in 28.05 million tonnes of coal last month, down from 30.18 million tonnes in July but well above 20.66 million tonnes in August last year, data from the General Administration of Customs showed on Tuesday.

Sep 07 - China's coal prices hit record high on tight supply worries 

China's coal prices soared to a record high on Tuesday over supply concerns as major coal production regions started fresh rounds of safety checks. Demand has also remained robust with power plants in northern China beginning restocking ahead of the winter heating season.

Sep 07 - India asks "captive" coal mines to increase output as power demand rises 

India has asked owners of coal mines that produce solely for their own use, known as "captive" mines, to increase output within a week as the government tries to address a shortage of coal at power stations amid rising electricity demand. Industrial companies which own "captive" mines have been given a week to ramp up production to above 85% of existing targets, the federal power ministry said in a statement on Monday.

Sep 06 - Iraq and Total sign $27 bln energy projects deal 

France's Total will build four giant energy projects in southern Iraq under a $27 billion deal signed in Baghdad on Sunday, the country's oil minister said. The company will start with an initial investment of $10 billion, CEO Patrick Pouyanne said at the signing ceremony, adding that engineering work will start "immediately".

Sep 06 - Off the boil: LNG tankers burn more oil as gas prices soar 

Liquefied natural gas (LNG) tankers are burning more dirty fuel oil than normal after the price of their super-chilled cargo soared above that of oil, trade and shipping sources said. LNG tankers often use some of their cargo, stored in liquid form at minus 163 degrees Celsius, for power, as a small portion tends to evaporate or "boil off" during transit and needs to be removed from the tanks anyway to avoid a build up of pressure.

Sep 03 - U.S. reconciliation energy bill slowed by flurry of Republican amendments 

The U.S. House Natural Resources Committee will extend debate on energy and environmental legislation on infrastructure into next week, Representative Raul Grijalva, a Democrat, said on Thursday after Republicans proposed scores of amendments to the bill. Democrats on the panel have proposed $31 billion of measures to be included in a $3.5 trillion budget infrastructure package which contain several items hotly opposed by many Republicans.

Sep 03 - Integrated electricity systems must be more resilient: Kemp 

Prolonged blackouts in Louisiana following Hurricane Ida are a reminder the power grid needs to become more resilient as well as reliable if even more services such as electric vehicles are going to depend on it in future. The electricity system is already directly responsible for providing a wide range of energy services in homes, offices and factories, including space heating, air-conditioning, cooking, refrigeration and power.

Sep 02 - Illinois Senate passes bill to save nuclear plants, sends to House 

The Illinois Senate passed a bill early on Wednesday that aims to prevent two nuclear power plants from shutting this autumn, sending the legislation to the House where it was uncertain if the chamber would bring the legislation to a vote. The Senate voted 39-16 to pass a wide-ranging energy bill, with two senators voting "present." The bill contains more than $600 million in carbon mitigation credits for nuclear plants which generate virtually emissions-free electricity. 

Sep 02 - India asks utilities to import coal amid short supply as demand spikes 

India has urged utilities to import coal as coal-fired electricity generation surged in Asia's third largest economy after an easing of coronavirus-related curbs, with several power plants on the verge of running out of fuel. India is the second largest importer of coal despite having the world's fourth largest reserves, and coal powers over 70% of the country's electricity demand.

Sep 01 - In Ida's wake, Louisiana faces a month with no power as heat soars 

South Louisiana braced for a month without electricity and reliable water supplies in the wake of Hurricane Ida, one of the most powerful storms ever to hit the U.S. Gulf Coast, as people faced suffocating heat and humidity. The storm killed at least four people, officials said, a toll that might have been much larger if not for a fortified levee system built around New Orleans after the devastation of Hurricane Katrina 16 years ago.

Sep 01 - Biden administration aims to cut costs for solar, wind projects on public land 

The Biden administration plans to make federal lands cheaper to access for solar and wind power developers after the clean power industry argued in a lobbying push this year that lease rates and fees are too high to draw investment and could torpedo the president's climate change agenda. Washington’s decision to review the federal land policy for renewable power projects is part of a broader effort by President Joe Biden's government to fight global warming by boosting clean energy development and discouraging drilling and coal mining.

Aug 31 - Solar boom, pandemic curbs drive Australia's carbon emissions down 5% 

Australia's greenhouse gas emissions fell 5.3% in the year to March 2021 as coronavirus lockdowns reduced transportation exhaust and increases in solar and wind power cut emissions from electricity generation, government data showed on Tuesday. Australia's emissions fell to 494.2 million tonnes of carbon dioxide equivalent (CO2-e) as of March 2021 from 521.9 million tonnes CO2-e a year earlier, the Department of Industry said in a quarterly report.

Aug 31 - Australia bucks climate zeitgeist with plan to subsidise coal, gas: Russell 

Australia's federal government is proposing what amounts to a subsidy to coal- and natural gas-fired power generation, in a bid to solve a problem the country's energy market operator says doesn't exist. The conservative Liberal-National coalition government of Prime Minister Scott Morrison is backing a plan to introduce a Physical Retailer Reliability Obligation (PRRO) mechanism whereby electricity retailers would be required to pay generators for spare capacity in case it is needed.

Aug 30 - Sinopec plans to spend $4.6 bln on hydrogen energy by 2025 

China's Sinopec Corp plans to spend 30 billion yuan ($4.6 billion) on hydrogen energy by 2025, as the state oil and gas major pivots to natural gas and hydrogen, with the aim of becoming carbon neutral by 2050. The top Asian refiner said on Monday it plans to become China's largest player to use hydrogen as transportation fuel, targeting an annual capacity of 200,000 tonnes of hydrogen refuelling by 2025.

Aug 30 - Asia's coal importers split between rich north and poorer south: Russell 

Thermal coal's rally to 13-year highs in Asia has done little to dampen overall demand, but the region is increasingly becoming split between those countries willing and able to pay high prices, and those who are cutting now unaffordable imports. Imports of thermal coal in wealthier north Asian countries, such as Japan, South Korea, China and Taiwan are set to record month-on-month increases in August, with some reaching the most this year, according to vessel-tracking and port data compiled by commodity analysts Kpler.

Aug 27 - EU carbon prices power up to new all-time high
- Prices top Eur59/mt on strength in wider energy complex, investor interest
- Tight primary supply supports prices in week to Aug 27

Aug 27 - PetroChina aims for even split for oil, gas, green energies by 2035 

PetroChina aims to have oil, gas and green energies to each account for a third of its portfolio by 2035, it said on Thursday, as the Chinese oil major shifts toward a lower-carbon future. For PetroChina, Asia's largest oil and gas producer, natural gas currently accounts for about 47% of total output and oil the rest. It is at the early stages of developing renewables. 

Aug 27 - Ecuador to spend $80 mln on thermal power stations as erosion threatens hydro plant 

Ecuador's state-run power company CELEC said on Thursday it will spend $80 million to repair idle thermal power plants to prepare them to provide backup electricity supply, as raging river erosion threatens its massive Coca Codo Sinclair hydroelectric plant. CELEC said the $80 million will recover some 426.4 megawatts (MW) of thermoelectric generating capacity by 2022, with 125 megawatts coming online in November after investments at its 125-MW oil-fired Esmeraldas I plant.

Aug 26 - Texas power demand hit 2021 peak this week, misses record high 

The Texas power grid operator said peak demand hit its highest so far in 2021 on Tuesday and will likely top that on Wednesday as homes and businesses crank up their air conditioners in another heatwave. Tuesday's peak, which had been expected to break the grid's all-time high, fell short of record levels as slightly cooler weather reduced usage. 

Aug 26 - German court says EU rules apply to Nord Stream 2 pipeline 

The Nord Stream 2 gas pipeline is not exempt from European Union rules that require the owners of pipelines to be different from the suppliers of the gas that flows in them to ensure fair competition, a German court ruled on Wednesday. The Duesseldorf Higher Regional Court rejected a challenge brought last year by the operators of the Gazprom-backed project to carry gas from Russia to Germany under the Baltic Sea.

Aug 25 - U.S. lawmaker urges Biden use emergency powers to save Illinois nuclear plants 

A U.S. representative from Illinois has urged President Joe Biden to consider using federal emergency powers to save two struggling nuclear power plants in his state as their owner edges closer to shutting the first one next month. Representative Adam Kinzinger, a Republican, asked Biden in a letter sent late on Monday to consider using powers under the Defense Production Act (DPA) or the Federal Power Act (FPA) to keep the plants open until federal or state subsidy programs can make them economically viable.

Aug 25 - California to boost solar and wind capacity to meet renewable goals 

The California Independent System Operator (CAISO) region plans to increase its solar and wind power capacity in 2021 to help meet the state's target of 50% renewable generation by 2025, the U.S. Energy Information Administration (EIA) said on Tuesday. The CAISO plans to add an additional 1.6 gigawatts (GW) of utility-scale solar capacity and 0.4 GW of onshore wind turbine capacity this year, the EIA said in a release.

Aug 24 - Germany to start selling national emissions market allowances Oct 5: EEX
The German government plans to start selling carbon allowances under its national Emissions Trading System on Oct. 5, the European Energy Exchange said Aug. 24.

Aug 24 - UAE revising clean coal percentage in 2050 energy mix
The UAE is revising the percentage of clean coal in its 2050 energy mix, an official from the energy and infrastructure ministry said Aug. 24, as OPEC's third-biggest producer forges ahead with plans to reduce its emissions.


Aug 24 - Senators seek biofuel-blending compliance relief for US oil refineries
As the Environmental Protection Agency gears up to announce how much renewable fuel must be mixed with gasoline and diesel in 2021 and 2022, 17 oil-state senators are calling on the agency to ease perceived compliance burdens on the US oil refining sector by waiving 2020 blending obligations and setting lower requirements for the following years.

Aug 24 - Texas power demand to hit record high during heat this week 

The Texas power grid operator forecast demand would reach record highs on Monday and Tuesday as homes and businesses crank up their air conditioners to escape another heat wave. The United States has been beset by extreme weather this year, including a freeze in Texas that knocked out power to millions in February and record heat in the Pacific Northwest this summer. 

Aug 24 - Ukraine says discussed guarantees with US, Germany over Nord Stream 2 

The energy ministers of Ukraine, the United States and Germany discussed guarantees for Ukraine about its future as a transit country after the construction of Russia's Nord Stream 2 gas pipeline, Ukraine's energy chief said on Monday. Kyiv fears Russia could use the pipeline, which will bring Russian gas to Germany under the Baltic Sea, to deprive Ukraine of lucrative transit fees. Several other nations also worry it will deepen Europe's dependence on Russian energy supplies.

Aug 23 - Green hydrogen companies build capacity amid high raw material costs, pandemic
- Rising global commodity prices add to costs
- HydrogenPro targets $1.20/kg production in 2022

Aug 23 - Sri Lanka's Ceypetco offers 180 CST fuel oil for mid-Sep
Ceypetco procures fuel oil on behalf of West Coast Power and other local power companies. The company last sought 20,000 mt of 180 CST fuel oil for delivery over Sept. 3-4, but canceled the tender as its customers no longer required the product for power generation due to heavy rain that boosted hydroelectric power generation capacity, a company source said. Heavy rain has also enabled Ceypetco to export excess fuel oil, the source said.

Aug 23 - Hydrogen targets in EU 2030 climate package will need huge renewable power
- Renewable power needs amount to half of 2019 output
- EC targets 50% of industrial hydrogen from renewables

Aug 23 - Oman in talks with foreign companies on green ammonia, hydrogen projects

- Oman has green ammonia and hydrogen pact with India's ACME
- Duqm free zone facility part of 200 sq km of land reserved for renewables

Aug 23 - Merkel offers reassurances on Russia pipeline, Ukraine urges greater clarity 

German Chancellor Angela Merkel offered reassurances on Sunday that Ukraine would not suffer from the construction of Russia's Nord Stream 2 pipeline, but Ukraine said talks about its future as a transit country had been vague. On her final visit to Kyiv before retiring as chancellor next month, Merkel said "gas should not be used as a geopolitical weapon" by Russia and that Germany could impose new sanctions on Moscow if necessary.

Aug 23 - Papua New Guinea resumes talks with Exxon on gas field agreement 

The Papua New Guinea government and U.S. oil major Exxon Mobil Corp plan to resume talks on the P'nyang natural gas project, nearly two years after their negotiations halted, Exxon confirmed on Monday. In November 2019, talks tied to a $13 billion expansion of the country's liquefied natural gas (LNG) exports fell apart with the government saying Exxon was unwilling to negotiate on the country’s terms.

Aug 20 - CNOOC plans more green investment as H1 profit more than triples 

China's top offshore oil and gas driller CNOOC Ltd said it would channel up to 10% of annual spending to green energy by 2025, and announced interim net profit more than tripled from last year as oil prices rebounded. That doubles a previous target of 5% of spending on green projects as the firm seeks to cut its carbon footprint alongside a strategy that focuses on lifting the share of natural gas in its output portfolio.

Aug 20 - Biden administration to review climate impacts of federal coal leases 

The Biden administration on Thursday said it would conduct a formal review of coal sales on federal lands to study their impact on climate change and value to American taxpayers. The move is the latest in a string of efforts by the administration of Democratic President Joe Biden to address climate change by reining in fossil fuel development on public lands.

Aug 19 - Blue hydrogen stirs debate as chair of UK lobby group resigns over skepticism
- Blue hydrogen 'at best expensive distraction'
- UK pursuing both green and blue hydrogen plans

Aug 19 - Nord Stream 2 says Fortuna vessel working on final stage of project 

The Nord Stream 2 gas pipeline construction is 99% complete, the operating company said on Wednesday, after a media report the Russian-led project, which has come under criticism from the United States, is expected to be finished on Aug. 23. Natural gas prices in Europe fell sharply following the report. 

Aug 19 - BHP's petroleum exit shows oil and gas may follow coal's path to toxic status: Russell 

The market hasn't exactly cheered BHP Group's proposed exit from its oil and gas business, with shares of both the mining giant and the acquirer, Woodside Petroleum, tumbling in the wake of deal. A point of concern for investors is that BHP may have sold the assets too cheaply, and that getting only Woodside shares as payment is less than desirable.

Aug 18 - EU solar power generation hits record high 

Solar power supply in the European Union during June and July rose to a record high in 2021, accounting for 10% of total electricity produced in the region, a report by independent climate think-tank Ember said on Wednesday. The 27 countries in the bloc generated nearly 39 terawatt hours (TWh) of power from solar panels during June and July, up 10.9 TWh from 2018, data from Ember showed.

Aug 18 - Finland's Fortum accelerates coal plant closures 

Finnish energy company Fortum has accelerated the closure of almost 40% of its coal-fired generation capacity globally, it said on Tuesday, as many countries look to cut coal usage to curb climate change. Chief Executive Markus Rauramo told Reuters shifting to renewable energy is not easy, as demand for electricity grows and a significant proportion of it has traditionally been produced from burning coal.