https://arab.news/28qwd
RIYADH: Looking at the bigger picture, countries are still suffering from the pressure the war between Russia and Ukraine has placed on the sector. Countries such as India and France are seen importing more coal and considering a LNG terminal to ease the energy market crunch. Through a micro lens, businesses like Perenco Group and ExxonMobil are seen making significant investments and pursuing projects, all of which guarantee a renewable future.
Looking at the bigger picture:
India has asked power generators to continue importing coal in order to meet the rise in demand for electricity in the country, Bloomberg reported.
This surge in demand comes despite the skyrocketing prices associated with fossil fuel lately as a result of the war between Russia and Ukraine.
The French government is contemplating collaborating with French multinational integrated oil and gas company TotalEnergies for the construction of a liquified natural gas terminal, Reuters reported, citing local newspaper Les Echos.
This comes as the European country is seeking alternative supply sources to diminish dependency on Russian natural gas after its invasion of Ukraine.
Through a micro lens:
Independent Anglo-French oil and gas company Perenco Group is planning to invest a total of $380 million in Tunisia over the next four years in renewable energy, hydrocarbons, bio-olive oil, Reuters reported, citing Tunisia’s government.
Headquartered in London and Paris, the firm plans to expand its investments in the North African country which has been seeking foreign investments to cushion the severe economic crisis it is going through.
American multinational oil and gas corporation ExxonMobil has been mining bitcoin in North Dakota for over a year with solution provider for the energy industry Crusoe Energy System in an attempt to slash emissions, CNBC reported.
Under the collaboration, Crusoe’s technology is aiding the oil and gas giant to turn wasted energy or flare gas into a useful resource.