Energy Update
The power sectors of Gulf Cooperation Council (GCC) countries could save 400 million barrels of oil if they ramped up their use of renewables, according to a new report released on Jan. 20.
Jan 22 (Reuters) - Schlumberger NV the world's No.
EFG Hermes Holding SAE, the largest independent Arab investment bank, plans to build a portfolio of renewable energy investments in Europe and the Middle East over the next five years as utilities in those regions add cost-competitive solar and wind operations.
CARACAS, Jan 22 (Reuters) - Venezuelan state oil company PDVSA's consolidated financial debt fell roughly 4.3 percent in 2015 compared with the previous year to reach around $43.8 billion, the company said on Friday.
The D.C. Circuit Court of Appeals on Thursday denied petitions to stay the Obama administration’s Clean Power Plan, preserving the landmark rule’s authority to regulate carbon emissions from power plants, even as the rule prepares to defend against subsequent litigation designed to erode its legality.
The agreements made at COP21 in Paris and the actions now needed to implement them dominated the speeches on the opening day of Abu Dhabi Sustainability Week. The gathering in the United Arab Emirates is the first high-level clean energy meeting since COP21 in December, and the deal struck in Paris between 188 countries was repeatedly praised during the event.
MOSCOW, Jan 22 (Reuters) - Russia must make all necessary preparations this year to introduce hedging to protect the country's oil earnings against price drops, a deputy finance minister said on Friday.
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