Global IPO activity drops 70% in Q1 2022: Bloomberg
The Anglo-French Perenco invests 380 million dollars in Tunisia; Exxon Mining Bitcoin to Reduce Emissions: NRG Matters
RIYADH: Overall, countries are still suffering from the pressure that the war between Russia and Ukraine has put on the sector. Countries like India and France are importing more coal and considering an LNG terminal to ease the energy market crisis. Through a micro lens, companies such as Perenco Group and ExxonMobil are making significant investments and pursuing projects, all of which guarantee a renewable future.
Looking at the big picture:
India has asked power producers to continue importing coal to meet the country’s rising power demand, Bloomberg reported.
This increase in demand comes despite the spike in prices associated with fossil fuels in recent times following the war between Russia and Ukraine.
The French government is considering collaborating with French multinational integrated oil and gas company TotalEnergies to build a liquefied natural gas terminal, Reuters reported, citing local newspaper Les Echos.
This comes as the European country seeks alternative sources of supply to reduce its dependence on Russian natural gas following its invasion of Ukraine.
Through a micro lens:
Independent Anglo-French oil and gas company Perenco Group plans to invest a total of $380 million in Tunisia over the next four years in renewable energy, hydrocarbons and organic olive oil, Reuters reported, citing the Tunisian government.
Based in London and Paris, the company plans to expand its investments in this North African country which is seeking foreign investment to cushion the serious economic crisis it is going through.
U.S. multinational oil and gas company ExxonMobil has been mining bitcoin in North Dakota for more than a year with energy industry solutions provider Crusoe Energy System in an effort to reduce emissions, CNBC reported.
As part of this collaboration, Crusoe’s technology helps the oil and gas giant turn wasted energy or flare gas into a useful resource.