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Blues Have Big Move To Make With Breakout Forward
The St. Louis Blues' decision to tender an offer sheet to forward Dylan Holloway this past off-season undoubtedly proved to be a great decision. After the Edmonton Oilers elected not to match the Blues' two-year, $4,580,914 offer sheet for Holloway, he broke out in a major way in his first season with St. Louis.
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CEO of Russia-backed Indian refiner Nayara resigns after EU sanctions, sources say
(Refiles to fix formatting) By Nidhi Verma NEW DELHI (Reuters) -Russia-backed Indian refiner Nayara Energy has named a new chief executive after its previous CEO resigned following European Union sanctions that targeted the company, four sources with knowledge of the matter said on Friday. The reshuffle at the top is the latest disruption for the company since the EU announced a new round of sanctions last Friday directed at Russia over its war in Ukraine. This week, a tanker carrying Russian Urals crude was diverted away from Nayara's Vadinar port to unload its cargo at another port in western India, Reuters reported. That came after two other tankers skipped loading refined products from Vadinar, Reuters reported. Mumbai-based Nayara has appointed company veteran Sergey Denisov as chief executive to replace Alessandro des Dorides, the sources said. Denisov's appointment was decided at a board meeting on Wednesday, they said. Nayara Energy did not immediately respond to a request for comment. Des Dorides, who joined Nayara Energy in April 2024, for a three-year term, did not immediately respond to a message sent on LinkedIn. In its announcement of his appointment last year, Nayara described Des Dorides as a 24-year veteran of the energy industry. He left Italian major Eni in 2019 after about six months as head of oil trading and operations. Denisov has been with Nayara since 2017. His LinkedIn profile describes him as Nayara's chief development officer. In recent days, Nayara's website has no longer carried pages listing its leadership. The company is one of India's two major private-sector refiners, along with the larger Reliance Industries. The pair have been India's biggest buyers of discounted Russian crude. Nayara, which operates India's third-biggest refinery at Vadinar in western Gujarat state, typically exports at least four million barrels of refined products per month, including diesel, jet fuel, gasoline and naphtha. It also operates more than 6,000 fuel stations. The 400,000 barrels per day (bpd) Vadinar refinery is equivalent to nearly 8% of India's total refining capacity of about 5.2 million bpd. Nayara Energy has criticised the EU's "unjust and unilateral" decision to impose sanctions. Russia's Rosneft holds a 49.13% stake in Nayara and a similar stake is owned by a consortium, Kesani Enterprises Co Ltd, led by Italy's Mareterra Group and Russian investment group United Capital Partners, according to a 2024 note by India's CARE Ratings agency. India, which has become the top importer of seaborne Russian oil in the aftermath of Moscow's Ukraine invasion, has also criticised the EU's sanctions. Rosneft, which said the sanctions on Nayara were unjustified and illegal, did not immediately respond to a request for comment.
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Ed Miliband eyes battery bonanza to cut wind farm costs
Ed Miliband will plough hundreds of millions of pounds into battery storage technology as the cost of ordering wind farms to shut down spirals out of control. GB Energy, which is backed by the taxpayer, will use a chunk of its newly minted budget to invest in energy storage systems as households and businesses are forced to foot the bill to prevent the creaking power grid from getting congested. More than £700m has been spent so far this year on switching off wind farms to avoid overloading the grid as well as firing up alternatives to keep the lights on. This is up from about £450m over the same period in 2024, with the money ultimately coming from energy bills. Officials are also keen to ensure clean power remains reliable during periods of high demand. An industry source said: 'How do you get around the fact that the wind blows one day, doesn't blow the next? They have to keep switching off the turbines because they can't store the energy. GB Energy think they've got a role to play in trying to fund the innovation.' The Energy Secretary is presiding over the drive as part of a £4bn push by GB Energy into emerging technologies. The push into battery storage technology is understood to be one of GB Energy's three big priorities, with half its £4bn innovation budget being deployed to bring more of the UK's net zero supply chain onshore. The Government is hoping to create hundreds of new jobs in areas such as Scarborough, North Yorkshire, which is reinventing itself as a service hub for the offshore wind industry. Experts say large amounts of energy storage will be needed for net zero, as countries move away from readily dispatchable gas or coal-fired power stations to intermittent sources such as wind and solar farms. More storage on the grid should also help to prevent situations where grid operators are forced to pay wind farms to switch off when the network is too busy to accept their power. Instead, battery operators would be able to snap the electricity up cheaply and store it for later. There is particular need for so-called long-duration storage that can be deployed over weeks rather than days to counter periods of 'dunkelflaute', when cloudy skies and stagnant wind conditions reduce the output of renewables. Under Mr Miliband's plan for a clean power system by 2030, the amount of long-duration energy storage is expected to rise from about three gigawatts today to between four and six gigawatts – enough to power millions of homes. Traditional lithium ion batteries are not ideal for this owing to their high cost and relatively short-term output, as well as degradation over time and the large numbers that would need to be built. Possible alternatives include 'flow' batteries, which store energy in liquid electrolytes, pumped hydro storage, compressed air storage, heat storage such as thermal bricks or molten salt, and caves that can be used to store hydrogen. The push into battery storage technology comes after Mr Miliband abandoned controversial plans to charge southern households more for electricity than those in the North amid a backlash from wind farm owners. Advocates claimed that zonal pricing would also have cut bills for all households overall by removing the need for £27bn of grid upgrades and axing the payments made to wind farms to switch off. Wind turbines have been built faster than grid capacity over the past decade, leaving Britain's infrastructure struggling to move electricity from Scottish wind farms to where it is needed in the South. A spokesman for GB Energy said: 'Long-duration energy storage is vital to a clean, secure, and affordable energy future for the UK. 'GB Energy sees opportunity to invest in both proven technologies like pumped hydro and emerging innovations such as flow batteries and liquid air storage. By stepping in early, we can unlock private capital, accelerate delivery, and back British supply chains.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data