Global Reporting Initiative (GRI) has launched a 90-day public comment period for its 2020 Oil and Gas Sector Standard as momentum to replace fossil fuels is gaining traction. GRI standards focus on sustainability, widely seen as the industry’s “single biggest challenge”.
Shanghai Electric Power has made a fresh and slightly improved offer to K-Electric to acquire 66.4% of its shareholding. Arif Habib Ltd, the local bidding manager of Shanghai Electric, specified his client wants to buy up to 18.336 billion of K-Electric’s total issued shares.
Natural gas exports from the United States to Mexico are seen rise by 40% with the completion of the southern-most segment of the Wahalajara system, also known as the Villa de Reyes-Aguascalientes-Guadalajara (VAG) pipeline. The 0.89 billion cubic feet per day (Bcf/d) pipeline entered service this June.
Engineering solution provider FuelTech has been awarded several equipment orders worth $2.2 million. In Europe, two order wins stipulate the use of NOxOUT Selective Non-Catalytic Reduction (SNCR) systems for single combustion units, firing natural gas and biomass. SNCR technology helps plant operators to comply with more stringent NOx emission rules.
Rumours of a Chinese takeover of the British multinational engineering company Rolls-Royce are circulating once again. In a statement, the company confirmed it is in “early stages of reviewing options to strengthen its balance sheet,” though no decisions have been made.
Golar Power, part of Hamilton-based Golar LNG, has teamed up with Galileo Technologies to expand its small-scale LNG activities in Brazil. Together with Stonepeak, Golar already developed several large-scale LNG-to-Power projects in northeast Brazil. Now, it turns to biomethane.
Germany's energy industry is slashing planned investment for 2020 and 2021. Though the Government urges utilities to step up and become a "main pillar" of a sustainable recovery in the wake of the coronavirus crisis, the industry association BDEW says capital spending this year will be way below the 2018 Capex of €15.5 billion.
Dominion Energy has struck a $9.7 billion deals to sell its gas transmission and gas storage assets to Berkshire Hathaway Energy, owned by the U.S. billionaire investor Warren Buffet. As part of the transaction, Berkshire Hathaway will acquire 25% of the Cove Point LNG plant in Maryland.
The German Parliament has adopted a law that ensures the phase-out of coal power by no later than 2038. Several reviews throughout the 2020s will assess progress on the build-out of wind and solar power as the end date for burning lignite could be brought forward to 2035.
Lockdowns and stay-at-home orders have increased U.S. residential electricity use substantially in April through June. The sector would have used 3.1 million MWh of electricity per day in April, as per the previous five years, but in April 2020 demand was 3.3 million or about 6% higher.
Penn Power, a subsidiary of FirstEnergy Corp, has started to modernize its electricity infrastructure in Lawrence County as part of a new, four-year plan. Works add to the utility’s previous grid enhancements that have reduced the number of frequency disruption by 20% on average.
Mitsubishi Hitachi Power Systems’ T-Point 2 gas turbine validation facility has started up in Japan. Powered by a JAC gas turbine, the T-Point 2 power station has entered operations at record-setting combined-cycle efficiency greater than 64% and a turbine inlet temperature of 1650°C.