The Abu Dhabi sovereign wealth fund’s investment arm, Mubadala Capital, plans to make a substantial investment in biofuels in Brazil, the Financial Times has reported, quoting the head of Mubadala’s Brazilian operations. The $13.5-billion investment in biofuels is part of a broader investment plan for Brazil that may also include …

China accounted for 65% of new wind capacity last year, which placed four Chinese original equipment manufacturers in the top five spots in the global ranking, a new report by Wood Mackenzie showed on Wednesday, highlighting the Chinese dominance in clean energy technologies. China’s Goldwind installed a record 16.3 gigawatts …

Tech giant Microsoft has signed a global framework agreement to back renewable power projects that could be worth about $10 billion and buy the power that would be developed by Brookfield Asset Management, the Financial Times reported on Wednesday. The agreement is for bringing around 10.5 gigawatts (GW) of solar …

India has ended the financial year 2023-2024 as a net importer of finished steel, which has sent the alarm bells ringing in industry circles throughout India. Mainly, insiders want to know how the changing import status might affect steel costs and India’s push for self reliance. According to news agency …

Much lower natural gas prices this year compared to 2023 dragged down profits at some of the largest oil and gas companies, which have so far reported a mixed bag of earnings for the first quarter of 2024. U.S. supermajors ExxonMobil and Chevron, as well as France’s TotalEnergies, all cited …

Iraq will see first natural gas production at its supergiant West Qurna field by the end of this year, Iraqi News reports, citing the Iraqi prime minister and federal energy authorities on Monday. ExxonMobil withdrew from southern Iraq’s West Qurna 1 field in January, handing operations over to PetroChina, which …

So far this year, the global upstream oil and gas market has seen more than $64 billion in mergers and acquisitions, and the year could still see more mega-deals, according to the latest report from Rystad Energy on Monday. While recent deals have focused on the Permian Basin, Rystad says …

PetroChina reported on Monday its highest net profit for a first quarter as its revenues rose by 11% thanks to steady oil prices and higher domestic natural gas demand and production. The Chinese state-held oil and gas giant booked $6.3 billion (45.681 billion Chinese yuan) in net profit for the …

The G7 group of the world’s most industrialized nations are discussing a common target to end their coal-fired power generation by 2035 at an energy ministers’ meeting in Italy, a source close to the talks told Reuters on Monday. The energy, climate, and environment ministers of Canada, France, Germany, Italy, …

Saudi Aramco is currently eyeing potential investments in new energies outside Saudi Arabia, the state oil giant’s chief executive officer Amin Nasser said on Monday. Aramco’s top executive was speaking on the sidelines of the Special Meeting on Global Collaboration, Growth, and Energy for Development by the World Economic Forum …