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Eni pushes for cutting emissions in its first methane report
Italian oil and gas company Eni has released its inaugural Methane Report 2024, emphasizing the critical importance of reducing methane emissions, the second most impactful greenhouse gas (GHG) in the oil and gas sector. The report was unveiled at the IEA-COP29 High-Level Event on Methane Pledges in New York. Eni recognizes natural gas as a key component of the energy transition, citing its cost-effectiveness, reliability, and lower carbon footprint compared to other fossil fuels. However,…
Texas approves Permian Basin Reliability Plan to meet electricity demand
The Public Utility Commission of Texas (PUCT) has approved the Permian Basin Reliability Plan, which supports the expansion and electrification of the US’s largest oilfield to address growing electricity demand. The plan stems from a report by energy companies and S&P Global warning of increased demand in the region. The expansion aims to reduce emissions from oilfield operations. Still, it is expected to strain Texas’ power grid, already under pressure due to energy-intensive industries like…
Kaynes Technology to inaugurate advanced electronics unit in Telangana
Kaynes Technology, an electronics manufacturing services firm, will inaugurate an advanced electronics unit at Kongara Kalan, Telangana, on August 23, 2024. Following a memorandum of understanding (MoU) signed with the Telangana government in October 2023, the company has invested Rs 28.5 billion in the project. The unit will focus on services such as printed circuit board (PCB) manufacturing and other components. Additionally, Kaynes Technology is planning to establish a sophisticated OSAT (Outsourced Semiconductor Assembly and…
WSP to acquire Power Engineers in $1.78 billion deal
Global professional services firm WSP has announced its acquisition of Power Engineers, a prominent US-based consultancy in the power and energy sector, for $1.78 billion. This strategic move aligns with WSP’s vision to expand its services and enhance its position in the energy transition market. Power Engineers, which employs 4,000 people, including 900 shareholders, has been a key player in serving North American power utilities. The acquisition has been unanimously approved by the boards of…
Russia seeks to counter West’s climate agenda with gas, nuclear power
Russia plans to present its own climate-related proposals, differing from Western approaches, ahead of the COP29 U.N. climate summit in Azerbaijan this November, according to Deputy Energy Minister Pavel Sorokin. Amid strained relations with the West, Russia is crafting a new energy strategy through to 2050, focusing on measures that do not hinder its development potential. Sorokin highlighted energy efficiency as a key method for reducing emissions, noting that Russia’s energy-saving potential is 20-30%. He…
Sugs Lloyd wins Rs 3 billion power infrastructure projects in Bihar
Sugs Lloyd has emerged as the lowest bidder for two Bihar government projects worth Rs 3 billion. The contracts include the supply, installation, testing, and commissioning (SITC) of a power substation along with high-tension (HT) and low-tension (LT) lines. CEO Satyakam Basu expressed excitement over this milestone, noting that the company is considering an IPO to expand operations and fulfil working capital needs.