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Energy

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Exxon Mobil of the US and JERA of Japan have come together to build an LNG power plant in Vietnam.

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Prime Minister Suga’s commitment to zero emissions, carbon neutral society is a big shift in Tokyo’s climate change policies, where 40% of its energy needs are met by coal power generation.

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Venezuela is facing an economic and humanitarian crisis with its main industry–oil production facing sanctions and falling prices.

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Wind and solar power are the cheapest form of new electricity in most of the world today.

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Only a quarter of BP’s planned 10,000 job cuts is going to be voluntary. According to an internal memo, BP plans to make 7,500 mandatory redundancies this year.

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Solar and wind energy will lead the surge in renewables in the coming decades, says world body on alternative sources.

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Mitsui of Japan has said it will end investments in fossil fuel power stations to meet its goals of zero emission by 2050. Japanese financial firms are leading investor in coal projects worldwide.

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France introduces a new carbon emission tax plan that will make buyers of gas-guzzlers like Porsche and Ferrari to reconsider their purchasing decision.

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Petrobas, which is divesting assets to raise some $30 billion in the next five years, is selling to 3R Petroleum and DBO consortium.

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Tesla is consolidating its battery manufacturing capacity with acquisitions of companies operating in the space and ATW Automation of Germany fits the bill.

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Equinox’s planned job cuts will affect hundreds globally. Equinor employees numbered 21,000 at the end of 2019, and said it will offer severance packages in some locations, while in Norway people will be moved to different locations or positions and some reduction will result out of natural attrition.

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The layoffs will be done in a phased manner in the coming two years and will include about 1,500 people agreeing to retire voluntarily.

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The virtual event by Tesla CEO  Musk was almost a damp squib with nothing exciting except promises of cheaper Teslas and higher battery storage in the future, leading to a tumble in share prices

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European aerospace giant Airbus recently revealed details of three hydrogen-fueled concept planes. These planes would start their service by the year 2035.

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GE is gathering its resources in the new world and exiting its coal market to focus on the renewable power business

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The world’s richest countries were responsible for depleting one-third of the globe’s carbon budget between 1960 and 2015.

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The pandemic has triggered many crises, especially in tourism, travel, retail and the restaurant businesses, which have all taken huge hits.

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California has earmarked nearly $100 million as grants to push for greener fuels for transport vehicles in the State. It proposes to build hydrogen fuel cell filling stations along the state highways, and Shell has been chosen to carry through a part of the transition.

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Exxon Mobil is facing the ill-effects of overbetting on a rising demand for oil and gas and is now facing a shortfall of about $48 billion through 2021

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The power produced at the world’s largest onshore wind turbines in Esbjerg, Denmark will support Apple’s data center in Viborg, with surplus energy going into the Danish electricity grid

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Floating wind farms are one of the most underused power resources of the world as the WindFloat Atlantic proves with its humble set up in Portugal.

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