Renewable energy sources could supply nearly a quarter of Africa’s power needs by 2030, more than four times the current levels, according to a report published Monday by the International Renewable Energy Agency (IRENA). In 2013 renewables accounted for five percent of the continent’s needs but this figure could reach 22 percent over the next 15 years, IRENA said in its “Africa 2030” report, which sets out a “roadmap” for
Nigerian-based oil producer Oando wants to double its oil output by 2019, targeting assets likely to be shed by majors hit by the crude price drop. Chief Executive Wale Tinubu told Reuters in an interview on Monday the retreat among the world’s major producers from the onshore Nigerian oil industry would likely leave a lot of assets on the market. Oando, which produces some 50,000 barrels of oil a day,
By Andreas Rinke and Douglas Busvine NEW DELHI (Reuters) – India and Germany pledged on Monday to revive efforts to reach an Indo-European free trade pact after talks fell apart this year, and struck deals to promote clean energy and make it easier to do business. Although Chancellor Angela Merkel and Prime Minister Narendra Modi made no mention in conversations with journalists of resuming talks on a free trade agreement
NEW DELHI (Reuters) – German will provide India more than 2 billion euros ($2.25 billion) for developing a clean energy corridor and solar projects, Indian Prime Minister Narendra Modi said on Monday after talks with Chancellor Angela Merkel. Modi has made ambitious renewable energy targets a key part of his development agenda and climate change mitigation commitments ahead of a landmark international summit in Paris at the end of this
The gas-rich United Arab Emirates will invest $35 billion in clean energy by 2021 as it seeks to reduce its dependence on fossil fuels following crude’s global price slide, it said Sunday. “By 2021, our investments in nuclear and solar projects will reach $35 billion (31 billion euros),” Energy Minister Suhail al-Mazrouei said at an energy conference in Abu Dhabi. An international consortium led by Korea Electric Power Corp won
By David Morgan WASHINGTON (Reuters) – The tougher auto emission tests that U.S. regulators adopted in the wake of the Volkswagen cheating scandal are permanent and could lead to more regulations down the road if more problems surface, a senior Environmental Protection Agency official said on Friday. Christopher Grundler, director of the EPA’s Office of Transportation and Air Quality, told Reuters that new emission tests announced on Sept. 25 would
The stock market reversed an early stumble and ended higher on Friday, led by gains in oil and gas companies. Chevron jumped 4 percent, the most in the Dow Jones industrial average. Exxon Mobil also gained 3 percent.
By Ted Siefer MANCHESTER, N.H. (Reuters) – New Hampshire’s top court on Friday upheld a $236 million judgment against Exxon Mobil Corp over groundwater contamination linked to gasoline additive MTBE. The New Hampshire Supreme Court ruling affirms a 2013 jury decision that rejected Exxon’s claims that contamination linked to the fuel additive was the fault of the local gas stations and storage facilities that spilled it. In the 1990s, in
Tesla Motors Inc saw strong orders of its Model S sedan tied to the launch of its sports utility vehicle, relieving some concerns that the larger car might siphon away sales, Chief Executive Officer Elon Musk said on Friday. “We were worried that maybe there would be some cannibalization of Model S orders,” Musk said, speaking during an event in New York held by SolarCity Corp , a solar energy
New Hampshire’s highest court has ruled that a record $236 million judgment stands against Exxon Mobil in a groundwater contamination case. A jury reached the verdict in 2013 after finding the company …