By Jennifer A. Dlouhy (Bloomberg) -- Companies competed Thursday for the opportunity to install wind turbines in Atlantic waters off Massachusetts in an auction that shattered records even as it headed toward a second day of frenzied bidding. After 24 rounds of sealed bidding, companies had already pledged $285 million toward the three offshore wind leases that are up for … [Read more...]
Climate Risk Report Warns of Falling Norwegian Offshore Values
By Mikael Holter (Bloomberg) -- A key climate report commissioned by the Norwegian government warned that climate change could hurt the value of its remaining oil resources and even make pumping oil more dangerous due to extreme weather. “Norway is well placed to manage climate risk, but the implications of major climate change are potentially severe and challenging to … [Read more...]
Blackstone, KKR Said to Pursue $1 Billion Container Terminal in Long Beach
By Gillian Tan and Vinicy Chan (Bloomberg) -- Cosco Shipping Holdings Co.’s sale of a container terminal in Long Beach, California has drawn interest from potential buyers including Blackstone Group LP and KKR & Co., people familiar with the matter said. EQT Partners and an arm of Macquarie Group Ltd. have also been studying a deal for the asset, the people said, asking … [Read more...]
Oil Tanker Owners Find Solace in Shale as OPEC Prepares New Cuts
By Firat Kayakiran (Bloomberg) -- America’s shale boom could be about to spare the world’s oil tanker owners from a typical OPEC ravaging. The producer group and allies decided on Dec. 7 to restrict output from the start of next year by about 1.2 million barrels a day, adding to deeper cuts two years earlier. Under normal circumstances, that would be a dire turn of … [Read more...]
Huawei Arrest Keeps U.S.-China LNG Spat Alive, Developer Says
By Naureen S. Malik (Bloomberg) -- The arrest of a top Chinese technology executive means the tariff war that ensnared liquefied natural gas may not have reached a cease-fire, according to the developer of a U.S. project to export the fuel. Liquefied Natural Gas Ltd. has been cautioned by prospective Chinese buyers of supply from the terminal it plans to build in Louisiana … [Read more...]