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China Three Gorges Renewables plans to invest $11 billion (80 billion Chinese yuan) in a huge integrated power project in China with solar, wind, and coal power capacity plus a storage facility. China Three Gorges Renewables, a unit of the biggest hydropower producer in the country, China Three Gorges, plans …

Iran’s exports of non-oil commodities have increased by 40 percent during three years to March 2024, according to the Islamic Republic of Iran Customs Administration (IRICA). According to the report, Iran’s non-oil trade surged from $74 billion in 2020 to $116 billion in 2023, marking a 57 percent increase. IRICA’s …

Saudi Aramco, through a wholly owned subsidiary, signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Ltd, the new global powertrain solutions company, alongside Renault Group, Zhejiang Geely Holding Group and Geely Automobile Holdings Ltd. In a statement, the oil giant said it will buy a 10% …

The World Bank will give India $1.5 billion to finance a second operation to help accelerate the development of low-carbon energy. This is the second operation which is being supported by the World Bank and cleared by the executive directors’ board. The first tranche of $1.5 billion was sanctioned in …

In a significant rebound, Russia’s oil and gas revenues for June are projected to increase by over 50% year-on-year, reaching $9.4 billion, according to new Reuters calculations. This surge comes after a reduction in refinery subsidies, highlighting Russia’s resilience in the face of Western sanctions aimed at its energy sector. …

The Lufthansa Group, the biggest airline group in Europe, is introducing a so-called Environmental Cost Surcharge of up to $77.20 (72 euros) per flight to cover part of the costs for using additional volumes of sustainable aviation fuel (SAF), the Germany-based airline said on Tuesday. The surcharge of between $1.07 …

Barely a couple of years ago, setting climate targets and emission reduction plans was de rigueur in the business world. There was a veritable race to out-target competitors in order to win the hearts, minds, and wallets of customers and investors. Now, this has all changed. Last week, the Energy …

Surging labor and construction costs are plaguing some major U.S. LNG export projects, threatening to delay new LNG supply to international markets. Wage growth since 2021, a shortage of skilled workers, and rising costs of materials with the inflation over the past three years have increased overall contractor costs for …

Canada may follow the example of the EU and the U.S., and impose import tariffs on Chinese electric vehicles, Reuters has reported, citing finance minister Chrystia Freeland. “Chinese producers are quite intentionally generating a global oversupply that undermines EV producers around the world, including here in Canada,” Freeland said, adding …

Coal imports into Asia this month are expected to remain strong despite a slight decline in coal demand from China and India—the biggest importers. Japan, the third-biggest, is the only one of the top coal importers in Asia set to see an increase in imports this month. Reuters’ Clyde Russell …