Qatar Petroleum set to invest $20bn into U.S oil, gas
Qatar Petroleum set to become world’s biggest seller of liquefied natural gas and plans to invest $20 billion in numerous oil and gas fields across America.
The investment will be evenly spread over five years, according to Chief Executive Officer Saad Sherida al-Kaabi.
“We have a huge growth plan,” said al-Kaabi. “We’re talking to many people and many companies in the U.S.”
Within the next eight years, the company is expected to go from 4.8 million barrels of oil to 6.5 million barrels a day.
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Zimbabwe commences $1.5bn Hwange power plant expansion
Zimbabwe has commenced work on the expansion of its Hwange power plant that is worth an estimated $1.5 billion.
“The additional 600 megawatts which we will generate here obviously means we will move towards self-sufficiency,” said Zimbabwe Power Co. Station Manager, Joshua Chirikutsi.
The company has confirmed that the construction of the plant will take a total of 42 months.
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EU increases renewable energy target to 32% by 2030
The European Union has announced it will be increasing its target of energy generated by renewable sources from 27 to 32 percent by 2030.
“This new ambition will help us meet our Paris agreement goals and will translate into more jobs, lower energy bills for consumers and less energy imports,” said Miguel Arias Cañete, EU climate commissioner.
This new agreement also includes plans for a follow-up review to take place in 2023. Officials expect the target to be bumped even higher.
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