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☆ Africa’s Vast Solar and Mineral Resources at Risk of Being Left Untapped, IEA Warns
▼ + stars: | 2023-09-06 | by ( Will Horner | ) www.wsj.com time to read: +6 min

Energy investment in Africa needs to more than double by the end of the decade if the continent is to meet its energy and climate goals. “Energy investment on our continent has fallen short,” wrote William Ruto, president of Kenya, in the report’s foreword. Photo: Lucien Kahozi/Bloomberg NewsAll of these are pushing up the cost of capital which makes many African energy projects financially unviable despite ample local resources and proven technologies such as wind or solar power, the report said. PREVIEWCurrently, 600 million people across Africa lack access to electricity and almost one billion have no access to clean cooking fuels. African nations are seeking redress for the effects of climate change they experience despite contributing little to carbon emissions, the main driver of global warming.

Persons: ”, Fatih Birol, simon maina, William Ruto, Lucien Kahozi, Will Horner, william.horner@wsj.com Organizations: International Energy Agency, African Development Bank, IEA, Agence France, West, “ Energy, Democratic, Bloomberg, Sustainable Business, Africa Climate Locations: Africa, Paris, ” Africa, China, Kenya, Democratic Republic of Congo, Ukraine, Nairobi

☆ Gabon Joins Blue Bond Wave With $500 Million Debt Refinancing
▼ + stars: | 2023-08-15 | by ( Will Horner | ) www.wsj.com time to read: +6 min

Gabon completed mainland Africa’s first-ever “debt-for-nature swap” Tuesday, refinancing $500 million of its debt and earmarking $163 million in savings for marine conservation, the latest in a burgeoning list of “blue bond” deals. In their place, Gabon issued a $500 million blue bond which matures in 2038. The coupon on the new blue bond was priced at 6.097%, lower than the coupons on the repaid bonds which were between 6.625%-7%. TNC says its blue bond deals have provided $400 million toward conservation efforts. Bank of America, which served as sole initial purchaser, structuring agent and bookrunner on the Gabon deal, declined to reveal its transaction fees.

Persons: Gabon’s, Bond, ”, Ali Bongo Ondimba, TNC wasn’t, Scott Nathan, TNC, Will Horner Organizations: —, Sustainable Business, Moody’s Investors Service, U.S . International Development Finance Corporation, Conservancy, Greenpeace, Bank of America Locations: Gabon, Africa, U.S, Belize, Seychelles, Barbados, Ecuador, Galápagos, william.horner

☆ Saudi Arabia to Lose Top Spot in OPEC+
▼ + stars: | 2023-07-13 | by ( Will Horner | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/saudi-arabia-to-lose-top-spot-in-opec-eb932671

Persons: Dow Jones Organizations: eb932671 Locations: saudi, arabia

☆ Oil, Gas Companies Urged to Pursue Relatively Cheap Fix on Emissions
▼ + stars: | 2023-06-27 | by ( Will Horner | ) www.wsj.com time to read: +5 min

The energy sector accounts for 40% of all human-caused methane emissions, most of which come from oil and gas companies that release it as a byproduct. The Biden administration’s Inflation Reduction Act includes a plan to charge oil and gas companies for methane emissions, as well as almost $1.6 billion to help these businesses emit less methane. The U.S. and the European Union have also spearheaded a pledge, signed at the COP26 summit in 2021, to reduce global methane emissions. The U.S. Methane Emissions Reduction Act Plan includes tighter regulations, increased transparency and incentives including $47 million to fund research into technologies that reduce methane emissions. The investment would enable oil and gas companies to reduce methane emissions by identifying and quickly repairing methane leaks as well as upgrading older infrastructure that is prone to leaking.

Persons: Biden, Will Horner Organizations: International Energy Agency, Biden, European Union, Energy, Sustainable Business Locations: Paris, North America, U.S, inching, China, India, Russia, Brazil, Indonesia, william.horner

☆ OPEC Crude Production Slumps as Voluntary Cuts Bite
▼ + stars: | 2023-06-13 | by ( Will Horner | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

PREVIEWBirol pointed to a “powerful alignment of major factors,” driving clean-energy spending higher, while spending on oil and other fossil fuels remains subdued. The Covid-19 pandemic appears to have marked a turning point for global energy spending, the IEA’s data shows. While clean-energy spending has boomed, spending on fossil fuels has been tepid. Investments in clean energy and fossil fuels were largely neck-and-neck in the years leading up to the pandemic, but have diverged sharply since. “If there is not enough investment globally to reduce the oil demand growth and there is no investment at the same time [in] upstream oil we may see further volatility in global oil prices,” Birol said.

☆ China’s Demand for Oil Hits Record as IEA Raises Global Forecasts
▼ + stars: | 2023-05-16 | by ( Will Horner | ) www.wsj.com time to read: 1 min

High interest rates and lingering inflation are keeping the demand for oil in developed nations in check. Photo: Mario Tama/Getty ImagesChina’s insatiable demand for oil is growing at a faster-than-expected pace, threatening to tighten crude markets and send oil prices higher as supplies struggle to keep up, the International Energy Agency said. The Paris-based agency’s latest outlook points to a widening divide between booming demand for crude across the developing world and lackluster demand in Europe and North America where economic prospects look bleak.

North America has seen the largest increase in planned hydrogen projects in the past six months, according to the Oxford-based consulting firm. Clean hydrogen is a small but fast-growing area of the transition to lower-polluting energy sources. However, low-emission hydrogen production is currently small compared with where analysts believe it will need to be. Europe’s shrinking share of hydrogen projects is “a direct consequence of the bloc’s slow response to the U.S. Inflation Reduction Act and [its] delay in developing concrete regulation for renewable hydrogen,” said Dilara Caglayan, lead hydrogen researcher at Aurora. Only 1% of the one terawatt of planned hydrogen projects have begun construction, while 86% are in the early planning stages of development.

☆ Europe Moves Toward Cutting a Last Source of Russian Energy
▼ + stars: | 2023-04-27 | by ( Will Horner | ) www.wsj.com time to read: 1 min

Illustration: Laura Kammermann and Sharon ShiEurope is taking steps to turn off one of the last significant supplies of Russian fossil fuels, seaborne shipments of liquefied natural gas. The question is whether the move would hurt Europe more than Russia.

☆ Stocks Fall After First Republic Earnings Revive Banking Worries
▼ + stars: | 2023-04-25 | by ( Sam Goldfarb | Will Horner | ) www.wsj.com time to read: 1 min

Illustration: MacKenzie CoffmanDisappointing earnings from companies including First Republic Bank and United Parcel Service helped interrupt a weekslong stretch of market calm on Tuesday, with stocks falling as investor concerns about the economy ticked upward. The S&P 500 fell 1.6%, and the Dow Jones Industrial Average fell around 345 points, or 1%, marking the largest single-day declines for both indexes since March 22. The tech-heavy Nasdaq Composite dropped 2%, its biggest decline since March 9.

☆ Saudi-Led Oil Cuts Risk Fueling Inflation and Harming Global Economy, IEA Says
▼ + stars: | 2023-04-14 | by ( Will Horner | ) www.wsj.com time to read: 1 min

The oil market will fall into a far larger oil deficit sooner than expected following surprise production cuts from some of OPEC’s leading members, the International Energy Agency said Friday. The gaping hole in the global oil market between the availability of crude and rebounding demand will reach 2 million barrels a day by the third quarter of the year, the Paris-based energy watchdog said in a closely followed monthly report.

☆ Oil Supply and Demand Gap to Grow Despite Recent Cuts, Says OPEC
▼ + stars: | 2023-04-13 | by ( Will Horner | ) www.wsj.com time to read: 1 min

☆ OPEC Sees Oil Demand Climbing, at Odds With Saudi-Led Production Cut
▼ + stars: | 2023-04-13 | by ( Will Horner | ) www.wsj.com time to read: 1 min

☆ Global Indexes Rally on China’s Property Stimulus Measures
▼ + stars: | 2023-04-09 | by ( Will Horner | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: dow

☆ Stocks Slump on Signs of Economic Slowdown
▼ + stars: | 2023-04-04 | by ( Charley Grant | Will Horner | ) www.wsj.com time to read: 1 min

☆ Carbon Emissions Climbed Less Than Feared in 2022 Despite Coal Resurgence
▼ + stars: | 2023-03-02 | by ( Will Horner | ) www.wsj.com time to read: 1 min

Global carbon emissions inched higher last year, according to the International Energy Agency, but the increase was less than what had been feared as booming demand for renewable energy kept the impact from resurgent coal plants in check. An analysis by the energy forecaster, whose members comprise many of the world’s largest energy consumers, said emissions of carbon dioxide, a greenhouse gas that drives climate change, climbed less than 1% or 321 million metric tons in 2022.

☆ North African Countries Snap Up Russian Oil Products Shunned by West
▼ + stars: | 2023-02-26 | by ( Will Horner | ) www.wsj.com time to read: 1 min

A European Union ban on imports of Russian refined oil products came into force this month. With Russia cut off from the European market, North African countries have stepped forward to become voracious buyers of its diesel and other refined oil products. The rise in trade has offered a lifeline of sorts for Moscow, providing a healthy new revenue stream, but also raised concerns about whether it is undermining Western efforts to remove Russian fossil fuels from their economies.

☆ Stocks Fall After Strong Inflation Data
▼ + stars: | 2023-02-24 | by ( Will Horner | ) www.wsj.com time to read: 1 min

U.S. stock indexes pulled back Friday, resuming a spell of selling, after an inflation gauge favored by the Federal Reserve showed stronger-than-expected price pressures. The S&P 500 fell 1.5%, the technology-heavy Nasdaq Composite dropped 1.8% and the blue-chip Dow Jones Industrial Average shed 1.3%.

☆ Stocks Fall Friday to Close Worst Week of 2023
▼ + stars: | 2023-02-24 | by ( Hannah Miao | Will Horner | ) www.wsj.com time to read: 1 min

U.S. stocks pulled back Friday, notching their worst weekly performance of the year, as hot economic data have rekindled worries about restrictive Federal Reserve policy. The S&P 500 fell 42.28 points, or 1.1%, to 3970.04. The technology-heavy Nasdaq Composite dropped 195.46 points, or 1.7%, to 11394.94. The blue-chip Dow Jones Industrial Average shed 336.99 points, or 1%, at 32816.92. The three indexes all dropped more than 2% in the holiday-shortened week, each logging their biggest weekly declines of 2023.

☆ Oil Demand to be Driven by Asia This Year as China Reopens, IEA Says
▼ + stars: | 2023-02-15 | by ( Will Horner | ) www.wsj.com time to read: 1 min

A resumption of international travel across Asia was largely behind the increase in oil demand this year, the International Energy Agency said. The International Energy Agency raised its forecasts for oil demand this year to a record level, as China’s reopening fueled a surge in air travel across Asia, while also adding to its supply forecast as Russian production remained surprisingly resilient to Western sanctions. The Paris-based energy watchdog said in a monthly report that it expects oil demand to grow to 101.9 million barrels a day this year—a record level—propelled almost entirely by rising demand in Asia. The figure is 200,000 barrels a day more than the IEA forecast last month, which was also a record amount.

☆ Oil Demand to Hit New Record This Year as China Reopens, IEA Says
▼ + stars: | 2023-02-15 | by ( Will Horner | ) www.wsj.com time to read: 1 min

A resumption of international travel across Asia was largely behind the increase in oil demand this year, the International Energy Agency said. The world will burn more oil than ever this year, the International Energy Agency forecast, as China’s emergence from Covid-19 lockdowns returns global crude demand to its upward, prepandemic trajectory. The Paris-based energy watchdog said in a monthly report that it expects oil demand to grow to a record 101.9 million barrels a day this year, propelled almost entirely by booming demand in Asia. The figure is 200,000 barrels a day more than the IEA was forecasting last month.

☆ OPEC Expects Stronger Economies to Boost Oil Demand
▼ + stars: | 2023-02-14 | by ( Will Horner | ) www.wsj.com time to read: 1 min

OPEC lowered its forecast for Russian oil production this year by 50,000 barrels a day. OPEC raised its forecast for oil demand for this year, with stronger-than-expected economic growth in the U.S. and Europe, and China’s economic reopening, seen boosting global appetite for crude. In its monthly report Tuesday, the Organization of the Petroleum Exporting Countries increased its forecasts for global oil demand growth this year by 100,000 barrels a day.

☆ Stocks Close Higher After Fed Official’s Comments
▼ + stars: | 2023-02-03 | by ( Akane Otani | Will Horner | ) www.wsj.com time to read: 1 min

U.S. stocks climbed Thursday, with gains across sectors offsetting declines in financial and consumer discretionary shares. Major indexes began the day mostly lower. Markets have been under pressure lately as hot economic data have convinced many investors that the Federal Reserve is likely to keep interest rates higher for longer.

☆ Stock Futures Drop as Investors Eye Fed Meeting
▼ + stars: | 2023-01-30 | by ( Will Horner | ) www.wsj.com time to read: 1 min

U.S. stock futures fell Monday, putting indexes on course to reverse some of their recent gains, as investors grew cautious at the start of a bumper week of central bank meetings and corporate earnings. Global bond yields rose, in turn pressuring valuations for high-growth technology companies, as a surprisingly strong inflation reading from Spain muddied the outlook for interest rates in the eurozone.

☆ Stocks Close Higher, With Earnings and Economic Data in Focus
▼ + stars: | 2023-01-27 | by ( Will Horner | Hardika Singh | ) www.wsj.com time to read: 1 min

U.S. stocks rose Thursday after a fresh slate of economic-data and corporate earnings reports continued to paint a mixed picture of the economy’s direction. The S&P 500 added 44.21 points, or 1.1%, to 4060.43, while the tech-heavy Nasdaq Composite gained 199.06 points, or 1.8%, to 11512.41. The Dow Jones Industrial Average edged up 205.57 points, or 0.6%, to 33949.41, rising for five consecutive trading days.

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