Tag Archives: energy

Weekly wrap: Bajaj Auto rejigs top deck; JSW Energy mysteriously exits electric vehicle business

Perhaps the most surprising development in the automobile space came towards the end of the week. A renowned name in power generation who as late as November 2018 reaffirmed plans of an electric vehicle foray suddenly backed out. This weekly wrap talks in detail about this sudden exit in addition to all the important development during the week.… Read More »

Nayara Energy to invest $850 mn to expand into petrochemical business

Russian oil giant Rosneft-led Nayara Energy on Friday unveiled a USD 850 million expansion plan for its Vadinar refinery in Gujarat, marking its foray into the petrochemical business. Nayara Energy, erstwhile known as Essar Oil, operates a 20 million tonnes a year oil refinery at Vadinar. In the first phase, the company plans to set up a 450,000… Read More »

Apple Launches $300-Million Clean Energy Fund for China Suppliers

Apple said on Friday it has established a fund to invest nearly $300 million (roughly Rs. 2,000 crores) over the next four years to connect its Chinese suppliers to renewable energy as Beijing pushes an anti-pollution drive. The US giant said it and 10 initial suppliers would jointly provide the money for the China Clean Energy Fund, aimed at… Read More »

Maasai women bring clean energy to rural villages in Kenya, Tanzania

Beatrice Marpe is a women’s leader in the remote village of Tokoishi, about 62 miles south of Kenya’s capital, Nairobi. The job of a Maasai women’s leader is usually to help solve marital issues, but Marpe, 55, has taken on a new role: solar ambassador. Being a solar power advocate is about more than renewable energy for Marpe;… Read More »

Floating Solar Farm Reflects China’s Clean Energy Ambitions

As the United States was withdrawing from the Paris climate pact, China’s clean energy ambitions were being reflected in the launch of the world’s largest floating solar farm. The 40-megawatt power plant has 160,000 panels resting on a lake that emerged after the collapse of a coal mine in central Anhui province. It is part of Beijing’s effort… Read More »

HK tycoon makes $5.4bn offer for Australian energy firm

Cheung Kong Infrastructure (CKI) has made an unsolicited offer to acquire Australian energy firm Duet Group for $5.4bn (£4.2bn). CKI is a Hong Kong-based conglomerate, owned by billionaire Li Ka-shing. The offer represents a 28% premium on Duet’s share price, when last traded on Friday. Any formal bid by CKI would be subject to approval from Australia’s Foreign… Read More »

Oil industry faces boom-and-bust, warns IEA energy group

A new oil industry boom-and-bust cycle is likely if the current reduction in new investment is not reversed, says the International Energy Agency. The IEA says unless more money is spent exploring for, and developing, new oil fields, then demand may outstrip supply in the early years of the next decade. That could see oil prices surging again,… Read More »

Opec plans fresh oil price talks says energy minister

Oil producers in the Opec group of countries will make another attempt this week to reverse a slump in crude prices, according to Algeria’s energy minister. Noureddine Bouterfa said there would be an informal gathering of Opec members on the sidelines of an energy conference in Algiers on Wednesday. “We will not come out of the meeting empty-handed,”… Read More »

Wall Street opens higher as oil prices boost energy shares

Wall Street opened higher on Tuesday, tracking global equities, as investors’ appetite for risk increased and as oil prices rose, boosting energy shares. Oil was up about 1.5 percent, driven by supply disruptions in Canada and elsewhere that have knocked out 2.5 million barrels of daily production and overshadowed fears of oversupply. World stock markets also rose, helped… Read More »