FRANKFURT : Deutsche Bank on Thursday tightened its coal financing policies but has yet to change its criteria for the oil and gas industries, drawing criticism from climate activists. Germany’s largest lender said it would not take as new clients corporations that generate more than 30% of revenue from coal and do not provide a […]
Oil and gas industry delivered $2.8bn a day in pure profit for last 50 years – EQ Mag Pro
London : The oil and gas industry has delivered $2.8 billion a day in pure profit for the last 50 years, a new analysis has revealed, The Guardian reported. The vast total captured by the petrostates and fossil fuel companies since 1970 is $52 trillion, providing the power to “buy every politician, every system” and […]
KEC International acquires an EPC company in the Oil and Gas Pipelines sector – EQ Mag Pro
KEC International acquires an EPC company in the Oil and Gas Pipelines sector. For more information please see below link:
Saudi Arabia Vision 2030: Solar energy can complement, not rival, oil and gas
Saudi Arabia’s Energy Minister Prince Abdul Aziz bin Salman last month announced the Kingdom’s goal of producing 50 percent of its electricity from renewable sources by 2030. The country’s Vision 2030 presents “a bold yet achievable” outline of the ways in which the Kingdom — and, indeed, the region — can and should grow. Encompassing […]
EU unveils list of priority energy projects, including oil and gas
BRUSSELS : The European Commission published its list of energy projects on Thursday eligible to receive EU funding of up to 30 billion euros ($34 billion), including new oil and gas projects which are likely to draw criticism from Green EU lawmakers. The question of whether projects related to fossil fuels such as natural gas […]
Germany’s Siemens says to cut 2,700 jobs worldwide
Industrial conglomerate Siemens said Tuesday it would slash 2,700 jobs worldwide at its gas and power unit, including 1,400 in its home country Germany, “over several years”. The division — set for an independent stock market flotation in 2020 — will “require further savings of 500 million euros” ($560 million), Siemens said in a statement. […]
Asian renewable investment to overtake upstream oil and gas spending in 2020 -Rystad
SINGAPORE: Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday. Total capital expenditure in renewables will rise above $30 billion in the region by 2020, just overtaking investment into exploration and production for oil and natural gas, the consultancy said. India, […]
Shell’s industrial customers in Ontario to be offered Convergent’s BTM battery storage
Ontario’s policy of rewarding large users of energy that reduce their demand for grid energy at peak times has resulted in Shell New Energies announcing 21MWh of projects with Convergent Energy + Power. US-Canadian project developer Convergent has been involved in some of the Canadian province’s biggest energy storage projects to date, many of which […]
MIT Energy Conference explores changes to the grid in coming decades
Student-run event spans energy policy, carbon pricing, storage technologies, and the rise of renewables. The 14th annual student-run MIT Energy Conference, the nation’s largest such event, reflected an increasing maturity in the low-carbon and zero-carbon energy field. A global push toward carbon-free energy, many speakers made clear at the event, held April 4 and 5 […]
Interim Budget 2019: What the biofuel industry needs
The industry needs incentivisation to set-up bio-fuel plants in the agrarian hubs like Punjab, Haryana and Uttar Pradesh. India is the third largest importer of petroleum products in the world. The import of petroleum products is one of the key causes for the foreign trade imbalance. In order to mitigate the challenges of rising oil […]
