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A record 260 gigawatts (GW) of new renewable energy capacity was added worldwide in 2020, up 50% from the year before, the International Renewable Energy Agency (IRENA) said, as countries further reduced their reliance on fossil fuel power. ....
3 Min Read TOKYO (Reuters) -U.S. exports of liquefied natural gas (LNG) to China, Japan and South Korea, the biggest importers of the fuel, have surged to record highs in recent months as the heavily industrialised region recovers from the COVID-19 pandemic, Eikon trade data shows. As with the ramp-up of U.S. oil exports that forced heavyweights like Saudi Arabia to find other buyers, what was dubbed Freedom Gas by the administration of President Donald Trump is also changing global energy flows and quietly gaining a stranglehold on key markets in Asia. Such is the speed of growth of imports into Japan, the U.S. is running neck and neck this year with Qatar - a long-term key exporter to Japanese utilities - as a major supplier to the world’s third-largest economy, official data showed this week. That comes despite U.S. LNG being nearly 40% more expensive than Qatar gas on a per heating unit basis. ....
3 Min Read (Reuters) - Energy Capital Partners (ECP) raised a $1.2 billion fund that it used to buy a 50% stake in U.S. renewable power and storage developer Terra-Gen from another of its funds, the private equity firm told Reuters on Thursday. FILE PHOTO: Wind turbines spin during a winter storm near Palm Springs, California, U.S., March 10, 2021. REUTERS/Mike Blake/File Photo The deal pays out investors in the fund Energy Capital Partners III, after the buyout firm invested in Terra-Gen in 2015. It also allows ECP to continue earning fees for managing the stake in the new fund. For Terra-Gen, the fund provides capital to support developing new projects, something that ECP III would not have been able to do as its cash was already fully deployed. ....
2 Min Read March 4 (Reuters) - U.S. agricultural commodities trader Cargill Inc is expanding soybean processing capacity at two large Midwest crush plants and increasing efficiency at five other U.S. facilities to meet growing demand for food and fuel, the company said on Thursday. Cargill’s $475 million investment in seven states comes as U.S. processors are already crushing soybeans at a record pace amid soaring demand for livestock feed. Soybean prices have scaled to the highest in more than six years as the record crush, and record exports, are projected to shrink U.S. stocks of the oilseed to a mere 9-1/2 day supply ahead of the next harvest. ....
By Reuters Staff 1 Min Read FILE PHOTO: A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant NEW YORK (Reuters) - U.S. crude oil stocks rose and gasoline inventories fell in the most recent week, according to trading sources citing data from industry group the American Petroleum Institute. Crude inventories swelled by 3.9 million barrels in the week to March 26, compared with analysts’ expectations in a Reuters’ poll for a build of about 100,000 barrels, sources said. Gasoline stocks fell by 6 million barrels, compared with expectations for a rise of 700,000 barrels. ....