Sustainability: World Bank Pledges $200 Billion Climate Action Investment

Sustainability: World Bank Pledges $200 Billion Climate Action Investment

The World Bank Group said on Monday that it would double its current five-year investments to US$200 billion in the period 2012 through 2025 to support countries in their climate action plans. Advertisements

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Global Mining: The top producing diamond mines in 2016

While diamond industry experts warn that demand is expected to outstrip supply as early as 2019, the largest mines keep producing the coveted rocks at full steam. Here are last year’s top 10 diamond mines in terms of output and value, based on data compiled by expert Paul Zimnisky. 1. Jwaneng, Botswana Produced 11,975,000 carats, worth $2,347 million Jwaneng, the richest diamond mine in the world, is located in south-central Botswana in the Naledi river valley…

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Global Companies Appointments: Statoil CEO Helge Lund resigns to lead LNG player BG

Statoil’s CEO Helge Lund will leave after ten years with the company to take up the position as Chief Executive of LNG player BG. “I could have continued for a period, but there is a time for everything. Renewal is important, both for Statoil and for me. I came to the conclusion that the time was right for a change. I have both the motivation and energy to take on a new leadership challenge, and found…

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Global Gas Industry: Santos GLNG pipeline gets first gas

Santos GLNG has fed natural gas into its 420-kilometre gas transmission pipeline for the first time via its primary compressor station in the Fairview field in south-west Queensland. Santos Vice President Downstream GLNG Rod Duke said that this was another important step towards Santos GLNG’s first shipment of liquefied natural gas from Gladstone Harbour next year.

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IEA: energy efficiency a growing market

The global energy efficiency market is worth at least USD 310 billion a year and growing, according to a new report from the International Energy Agency that confirms the position of energy efficiency as the world’s “first fuel”. The report also finds that energy efficiency finance is becoming an established market segment, with innovative new products and standards helping to overcome risks and bringing stability and confidence to the market.

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Global Oil and Gas Market: EU prepares for Russian gas cuts

The European Union is preparing to take precautionary measures in case the biggest gas supplier, Russia, cuts its export this winter due to the crisis Ukraine. Measures could include the ban to companies selling imported LNG outside Europe, the order to keep more gas in reserve and the order to industry to stop using gas, reports Reuters. EU could be taking steps to ensure a more coordinated use of LNG regasification facilities as well as…

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