Companies

Saudi Aramco is joining a group led by ACWA Power to build a nearly $1 billion solar power plant in the kingdom as the world’s largest oil-exporting nation expands renewable energy supply. Aramco will hold a 30% stake in the Sudair solar project, while ACWA and partner Water & Electricity …

Siemens Large Drives Applications (LDA) has received an order from a Chinese customer to deliver a special machine with dual shaft extension, which will have an efficiency of beyond 98 percent and will be a world-leading 2-pole electric motor. It can be used in motor operation with a power of …

Export proceeds of Russian state-run energy giant Gazprom saw an enormous increase of 73% from January to June 2021 compared to the same period a year ago, according to Russia’s Federal Customs Service. In monetary terms, the growth amounted to $20.01 billion, while the physical volume of exports totaled 108.4 …

The world’s largest oil exporter, Saudi Arabia, raised on Wednesday its official selling prices for crude oil loading for Asia in September in a widely expected move tracking stronger Middle East oil benchmarks. Saudi oil giant Aramco lifted its official selling price (OSP) for its flagship Arab Light grade for …

Saudi Arabia raised oil for prices for buyers in Asia and the U.S. for September in a sign the world’s largest crude exporter sees demand continuing to recover despite a surge in coronavirus cases in some of the world’s main energy importers. OPEC+, the oil-producers’ group led by the Saudis …

Oil company BP swung to profit in the second quarter amid higher oil prices and a broader recovery in the global economy this year after posting a loss in the same period a year earlier. The company earned $3.1 billion in the three months to the end of June, compared …

Siemens Mobility and Continental Engineering Services (CES) have partnered on the development and manufacture of pantographs for trucks, with the eHighway technology from Siemens Mobility supplying trucks with electricity via an overhead line. The cooperation aims to electrify key stretches of highway-networks in Germany’s autobahn network with overhead contact lines …

The Russian oil producer Rosneft denied statements about the company’s operations made in the book Putin’s People released last spring, counsel Desmond Browne said during a hearing in the High Court of London. UK mass media reported earlier that Rosneft had filed a lawsuit against HarperCollins, the publisher of the …

The Royal Dutch Shell oil and gas company will buy a renewable energy company as part of its goal of achieving net-zero emissions by 2050. The oil company’s Shell New Energies U.S. LLC unit is set to purchase Inspire Energy Capital LLC, a renewable energy company that serves around 235,000 …

The world’s biggest project to capture and store carbon dioxide isn’t working like it should, highlighting the challenges oil companies face in tackling their greenhouse gas emissions. Chevron Corp.’s system at the $54 billion Gorgon liquefied natural gas export plant in Australia missed a local government target to inject captured …