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Irena forecasts rise in ocean energy installations to 10 GW by 2030

By: Terence Creamer     15th May 2020 The International Renewable Energy Agency (Irena) believes that ocean energy, which plays an extremely modest role in the global energy mix and the broader clean-energy transition, is poised for growth over the coming decade and is forecasting that deployments will rise to 10 GW by 2030. There is... 

Coal snags $31m in US stimulus loans for small business

By: Bloomberg     6th May 2020 Stimulus loans meant to help small businesses hurt by the coronavirus pandemic are being doled out to coal companies, stoking criticism from environmentalists that the Trump administration is using the aid to help a preferred industry that was already in financial trouble. The US Small Business... 

Woodside predicts two year low oil price

By: Esmarie Iannucci     1st May 2020 Oil and gas major Woodside has warned shareholders that the low oil price environment could persist for the next two years. Speaking during the company’s annual general meeting, CEO Peter Coleman noted that the oil and gas industry had been confronted not only by the challenges presented by the... 

Oil Search raises A$80m in entitlement offer

By: Esmarie Iannucci     1st May 2020 Oil and gas major Oil Search has completed the retail component of it’s A$400-million entitlement offer, raising an initial A$80-million. Oil Search last month announced plans for a A$1.1-billion raising, consisting of underwritten institutional placement to raise an initial A$760-million, and... 

Components provider launches new hydraulic electric pumps

By: Mamaili Mamaila     1st May 2020 Engineering components provider BMG has launched a new range of portable hydraulic electric Enerpac E-pulse pumps, which are critical to all 700 bar and 10 000 psi pound-force operating hydraulic systems. 

Wall Street is bending to pressure to halt Arctic-oil loans

By: Bloomberg     27th April 2020 The latest front in the war against drilling for oil in Alaska’s rugged wildlife refuge isn’t Washington – it’s Wall Street. Activists trying to keep rigs out of the Arctic National Wildlife Refuge are now focused on choking off the flow of money needed to exploit the reserve. As big as South... 

Standard Bank says it is not legally obliged to have voting on proposed climate resolutions

By: Marleny Arnoldi     16th April 2020 Standard Bank has decided to not table proposed climate change risk resolutions for voting by shareholders at its annual general meeting (AGM) in May, following pressure from nonprofit shareholder activism organisations Just Share and Raith Foundation to do so. Just Share executive director... 

Mozambique expansion key for gas supplier

By: Darren Parker     10th April 2020 JSE-listed gas supplier Afrox has committed a R75-million capital investment to establish and develop a new regional branch in Pemba and an on-site store in Palma, both in Mozambique, over the next few years. Afrox Mozambique currently has no presence in the northern region of the country, which... 

Economy faces harder recovery path following Moody’s downgrade

By: Marleny Arnoldi     10th April 2020 Business organisation Business Leadership South Africa (BLSA) says Moody’s downgrade of South Africa’s debt rating to junk status will significantly impact the way the economy is defended through the Covid-19 crisis. The ratings agency on March 27 downgraded South Africa’s sovereign credit... 

Resources a key part to recovery - Minister

By: Esmarie Iannucci     1st April 2020 Federal Resources Minister Keith Pitt said that the federal and state and territory governments were working to ensure that critical resources projects kept operating during the Covid-19 pandemic. “The Australian resources sector is a key part of the Australian economy. The commodities... 

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