Latest news with #GreenEnergy
Malay Mail
18 hours ago
- Business
- Malay Mail
Abang Johari: ‘Jealousy' of PBB's success behind false claims of rift with Awang Tengah
KUCHING, July 19 — Premier Datuk Patinggi Abang Johari Tun Openg has dismissed recent attempts to create rifts within Parti Pesaka Bumiputera Bersatu (PBB), calling them baseless efforts driven by envy over Sarawak's growing economic success. Speaking at the launch of the Batang Saribas 1 Bridge and the Betong Division Development Agency (BDDA) today, he said misleading narratives had been circulated online to suggest a falling-out between him and Deputy Premier Datuk Amar Awang Tengah Ali Hasan. 'Recently, there were attempts to stir conflict within PBB (Parti Pesaka Bumiputera Bersatu), suggesting that Awang Tengah and I are at odds. 'These things happen when people are jealous of our success, because our economy is doing well,' he said. Abang Johari stressed that such attempts would not derail the unity within the party or Gabungan Parti Sarawak (GPS) as a whole. He also highlighted Sarawak's rising global profile in the green energy sector, particularly its leadership in hydrogen development. He said he had recently been invited to speak in Japan and will be addressing the World Economic Forum in Davos this coming January on the global economy, adding that the forum had recognised Sarawak as an emerging industrial cluster powered by renewable energy. 'Sarawak is being noticed. No other state is producing green energy like we are. With the electricity we generate, we can meet our own needs and sell the surplus to earn income. 'That income can help fund university tuition. Who benefits? The people do,' he said. Abang Johari reaffirmed his administration's commitment to unity and people-centric development. 'That is why when we are doing well, some people will try to cause division. But don't worry – as long as I'm in GPS, we will not be divided. 'We will continue to prioritise the people of Sarawak. As the late Tok Nan (Pehin Sri Adenan Satem) used to say – jangan liat aja (don't just watch),' he said. — The Borneo Post
CTV News
10-07-2025
- Business
- CTV News
Canada Infrastructure Bank set to fall well short of 2028 investment target: PBO
Power transmission lines are seen with the Rocky Mountains in the background near Pincher Creek, Alta., on Thursday, June 6, 2024. THE CANADIAN PRESS/Jeff McIntosh OTTAWA — Parliament's fiscal watchdog says the Canada Infrastructure Bank is more than $20 billion short of its investment targets for the coming years. In a new report, the Office of the Parliamentary Budget Officer says the infrastructure bank is on track to disburse $14.9 billion by 2027/28 — well below its $35-billion goal. That sum is also $1 billion lower than earlier PBO projections from 2021. The bank invests alongside private and public sector partners to help get green energy and other infrastructure projects off the ground in Canada. The report says the infrastructure bank has already hit its goal of investing $1 billion in Indigenous-led projects. The infrastructure bank also has sector-specific investment goals for five priority areas, but the PBO says the Crown corporation is not on track to meet any of those targets either. --- Craig Lord, The Canadian Press This report by The Canadian Press was first published July 10, 2025.
The Independent
09-06-2025
- Business
- The Independent
Dale Vince's High Court claim against Daily Mail publisher thrown out
Green energy industrialist Dale Vince's High Court claim against the publisher of the Daily Mail has been thrown out by a judge. Mr Vince brought legal action against Associated Newspapers Limited (ANL) over an article headlined ' Labour repays £100,000 to sex pest donor', published in June 2023. The story reported that the Labour Party was handing back money to donor Davide Serra with a picture showing Mr Vince holding a Just Stop Oil banner. This picture, published in print and on The Mail+ app, was changed to one of Mr Serra online 47 minutes after publication, while the original picture of Mr Vince remained in the print version. An employment tribunal in 2022 heard Mr Serra had made sexist comments to a female colleague which were found to amount to unlawful harassment related to sex. Mr Vince claimed ANL misused his personal data and that the publication of his photograph with this story would lead readers to believe he had been accused of sexual harassment. ANL had defended the claim, with its lawyers previously telling the High Court in London that it was an abuse of process and a 'resurrection' of a libel claim that was dismissed last year. In a judgment on Monday, a High Court judge threw out the data protection claim. Mr Justice Swift said: 'There is no real prospect that Mr Vince will succeed on his claim. 'As in the defamation proceedings, it is accepted that on reading the text of the article published in Mail+ and the Daily Mail any ordinary reader would very quickly realise that Mr Vince was not being accused of sexual harassment. 'Considered on this basis the personal data relating to Mr Vince was processed fairly.' He said there was 'every reason' why the data protection claim should have been heard with the defamation claim last year. 'Both claims arose out of the same event, the publication of the article in Mail+ and the Daily Mail,' he added. 'Both claims rely on the same factual circumstances, namely the juxtaposition of the headline, photographs and caption, and the contention that the combination of the headline and the photograph created the misleading impression that Mr Vince had been accused of sexual harassment.'
Reuters
03-06-2025
- Business
- Reuters
Local firms drive new growth phase in Nigeria's oil sector
LAGOS, June 3 (Reuters) - Nigeria is witnessing a significant shift in its oil and gas landscape as local companies expand their roles, driving a new phase of potential sectoral growth and innovation. Leading the charge are companies which bought onshore and shallow water assets from oil majors planning billions of dollars of investments to develop abandoned fields. Smaller producers are also pulling their weight, for example Nigeria's first locally developed and operated onshore crude terminal, Otakikpo, began loading operations on Monday. Built by Green Energy Limited and located in the OML 11 block near Port Harcourt, it marks a milestone in local capacity. Shell (SHEL.L), opens new tab loaded the first crude cargo through the 360,000 bpd capacity terminal on Monday, opening up potential drilling prospects for over 40 stranded fields in the region. Similarly, Conoil Producing Limited ( opens new tab recently shipped the first cargo of its new Obodo crude blend from the onshore OML 150 in the Niger Delta. The cargo was lifted by Oando Trading, a subsidiary of Oando Plc ( opens new tab which bought ENI's ( opens new tab divested assets. Following this trend, Renaissance Africa Energy — after acquiring Shell's onshore assets — is committing to investing $15 billion over the next five years in its oil and gas operations. The company aims not only to balance its portfolio by increasing crude oil production but also to double its gas output once a key local gas pipeline is completed. Similarly, Seplat Energy ( opens new tab, following its acquisition of ExxonMobil's (XOM.N), opens new tab Nigerian shallow-water assets, recently announced plans to reopen 400 previously shut-in wells. CEO Roger Brown said the company is set to invest up to $320 million this year in drilling campaigns and infrastructure, with the goal of boosting crude production to around 140,000 barrels per day. "We are focused on reviving existing wells, expanding drilling campaigns, and increasing gas volumes," Brown said during the company's annual general meeting. While these developments show the increasing role local producers are playing amidst government reforms, they are also grappling with challenges. "These operators face higher costs due to security challenges, community disputes, oil theft and ageing infrastructure – a key aspect of reducing costs for operators will be addressing these challenges," said Mikolah Judson, an analyst at global risk consultancy, Control Risk. These local players, signal a new phase for Nigeria's oil and gas sector and could provide support for the government's plan to raise oil output by additional 1 million barrels per day (bpd) next year, head of Nigeria's oil regulator said. They now account for over half of Nigeria's oil production from around 40% before the oil majors completed their divestment programmes according to the regulator's data.
Yahoo
26-05-2025
- Business
- Yahoo
NTPC Ltd (BOM:532555) Q4 2025 Earnings Call Highlights: Strong Financial Performance Amid ...
Release Date: May 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. NTPC Ltd (BOM:532555) achieved a significant milestone with the successful listing of NTPC Green Energy Limited, positioning it as a leader in India's renewable energy landscape. The company added 3,312 megawatts from renewable energy sources in FY 2025, demonstrating a strong commitment to energy transition. NTPC's thermal fleet achieved a plant load factor of 77.44%, outperforming the rest of India's PLF of 67.23%, showcasing operational excellence. The NTPC Group's total income for FY 2025 rose by 5%, with a robust growth in profit after tax by 9%, indicating strong financial performance. NTPC's strategic investments in international ventures and new business horizons are expanding its footprint and creating additional revenue streams. There were delays in capacity additions, particularly in the Khara and Bala projects, due to issues like cooling substation delays and land transfer problems. The company faces challenges in land acquisition and transmission connectivity for renewable projects, which could impact future capacity additions. Despite the increase in renewable capacity, NTPC still relies heavily on coal, with a significant portion of its capacity coming from thermal sources. The acquisition of the Sagra thermal power plant is still under discussion, indicating potential delays or complications in finalizing the deal. The company has not yet signed PPAs for some of its major projects, which could affect future revenue streams and project viability. Warning! GuruFocus has detected 3 Warning Sign with BOM:532555. Q: Can you provide details on NTPC Green Energy Limited's (NGL) renewable capacity addition and PPA status? A: The details are available in the uploaded documents. However, we can provide additional specifics separately. (Director of Finance) Q: What are the commissioning targets for FY 2025-26 and FY 2026-27 for both conventional and renewable energy? A: For FY 2025-26, NTPC expects to add 11,806 MW, including 3,580 MW of thermal, 1,000 MW of hydro, and 7,226 MW of renewable energy. For FY 2026-27, the target is 9,904 MW, with 1,460 MW of thermal, 444 MW of hydro, and 8,000 MW of renewable energy. (Director of Finance) Q: What explains the rise in joint venture income during the quarter? A: The increase in joint venture income to 630 crore is due to contributions from various JVs, including NTCL, BPI PCL, HURL, and others. (Director of Finance) Q: How confident is NTPC in achieving the 6.5 GW renewable energy target for this year, given last year's lower addition? A: We are confident based on the projects under construction. Last year's slippage will be compensated, and we are improving our target to 6.5 GW for FY 2025-26. (Director of Finance) Q: Are there any delays in thermal project tendering or awarding? A: There have been some delays, but major projects like Meja are expected to be awarded by the second week of July. (Director of Projects) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
