Category: Highlights

Japan’s Hitachi has completed its acquisition of a majority stake in ABB Power Grids worth up to $7.8 billion, creating a new business aimed at tackling the renewable and distributed energy frontiers of the power industry.  Hitachi ABB Power Grids is the new company formed Wednesday by the close of Hitachi’s acquisition of an 80.1 percent stake in the venerable power grids unit of the Swiss-Swedish engineering giant. ABB will now focus on industrial automation, electric transportation and digital solutions.  “A majority stake in ABB Hitachi Power Grids Inc. instantly makes Hitachi one…

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This isn’t a revolution. It’s an evolution, and while that may lack the shock and awe of something like the shale boom, its long-term impact is extreme. This is the world of renewable energy, and three decades of progress shows a clear and undeniable pattern. It’s hard to believe that we’ve been using solar and wind power for about thirty years now. The technology behind this type of renewable power generation may be even older, but the first data for solar and wind generation dates back only to 1990. Even…

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OPEC’s oil production in June came in at the lowest level since May 1991 during the Gulf War, and collectively meeting its promised cut. For June, OPEC cut its production to 22.69 million bpd, according to a Bloomberg survey using data compiled by Kpler, Rystad Energy, Rapidan Energy Group, and JBC Energy GmbH. Saudi Arabia met its promised cut, holding production to 7.53 million bpd. Saudi Arabia also met its additional voluntary reduction that phases out in July. While Kuwait and the UAE also met their promised cuts, they did not…

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Energy Transfer, the company behind the controversial Dakota Access oil pipeline, has declared force majeure on the project to stop companies from pulling out of its plan to double the pipeline’s capacity. Reuters reported, citing unnamed sources in the know, that Energy Transfer is using force majeure to prevent companies that think the pipeline is no longer necessary to stick to their capacity commitments. The reason they think the pipeline is no longer necessary is that U.S. oil production has fallen substantially, removing the need for additional pipeline capacity. The Dakota…

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ISLAMABAD: Rebuffing the power regulator’s advice, the Power Division on Wednesday put on hold making fresh commitments for new power projects until a consensus is reached on the country’s first Integrated Generation Capacity Expansion Plan (2020-2047) awaiting approval of the National Electric Power Regulatory Authority (Nepra). “It would not be proper or in the national interest to go back to the old system of process of projects, and adding to the capacity and cost of electricity through a non-transparent mechanism”, the Power Division wrote to Nepra and concerned entities including…

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