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US squeezes Cuba's renewable power efforts
US squeezes Cuba's renewable power efforts
Kingston, 8 September (Argus) — Cuba's efforts to increase renewable power production and mitigate the impact of tightened US sanctions on its weakened electricity system are being undermined by Washington's threats against shipping companies supplying the equipment, foreign minister Bruno Rodriguez said on Monday. Cuba has been rapidly developing solar power capacity, but further progress is being curbed as "shipping companies that should bring solar panels or batteries for the new photovoltaic parks are being intimidated, threatened and harassed" by Washington, Rodriguez said. Solar parks developed mainly with Chinese equipment deliver about 10pc of Cuba's power, according to the government that has set a target of 24pc by 2030. Cuba lost access to crude imported mainly from Venezuela following the US' 3 January overthrow of Venezuelan president Nicolas Maduro. The US blockade to force political and economic change in Cuba deprived the island of about 100,000 b/d of imports, causing extensive fuel shortages and frequent and long power blackouts as it depends on domestic production of 40,000 b/d. Cuba's power plants delivered 1.16GW on Monday to meet demand of 2.79GW, according to state power utility UNE. "The US threatens shipping companies and prohibits them from transporting even parts and pieces for thermoelectric plants or photovoltaic systems, even those that have been already paid for," Rodriguez said. The US earlier imposed charges against Cuba's state oil company Cupet and its subsidiaries and on the island's oil industry equipment importers. "These designations reflect [US president Donald] Trump's unwavering vision for a free Cuba," US state secretary Marco Rubio said last week in announcing new sanctions. "Cuba's communist regime elites preside over a failed state where ordinary Cubans go hungry." Havana and Washington "have been holding talks and we continue communicating with the US, but there has been no progress in the negotiations due to the lack of political will on the part of the US", Rodriguez said. Cuba received 730,000 bl of crude from Russia in April — the first imports since January — that was processed and exhausted in May, according to state media. "A diagnosis of the Cuban electro-energy system at the end of May reflects that there are around 1.4GW of capacity that does not generate electricity due to a lack of fuel," Rodriguez said. By Canute James Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Oil services giant SLB steps up bet on data centre boom
Oil services giant SLB steps up bet on data centre boom
New York, 8 September (Argus) — SLB, the world's biggest oil field services contractor, expanded its push into data centres last week after agreeing to buy German cooling-equipment maker Kelvion for $3.4bn. The deal marks the latest example of how oil services firms are making steady inroads into the fast-growing data centre business underpinning the artificial intelligence (AI) boom, leveraging their manufacturing and engineering expertise built up through developing large-scale energy projects over decades. The acquisition of Kelvion, which provides thermal management and heat exchange technologies, will more than double SLB's revenue potential per gigawatt of delivered capacity. Kelvion is seen by analysts as a natural fit for SLB as the latter seeks a bigger role in the data centre space and looks to expand its technology offerings. The acquisition will allow SLB to "add more revenue breadth but also get into more of the thermal management, which they can package into their modular-type of product", US-based Melius Research analyst James West says. SLB is focusing on the infrastructure needs of data centres, while close rival Baker Hughes has so far targeted the power generation side of the market. Oil and gas will continue to be the key driver of growth for SLB and its rivals, but they are increasingly positioning themselves as industrial and energy technology companies. Data centres are a natural extension of their talent base. "You have to consider that they are one of the biggest employers of engineers on the planet," West says. "A lot of the data centre infrastructure is engineering and construction-type jobs — it's something they already do." The deal was announced at a time when data centres are facing growing opposition from local communities in the US, spurred by concerns over noise pollution, rising utility bills and high water consumption. This resistance is only set to intensify ahead of November's midterm elections, leading some lawmakers to withdraw their support and back a regulatory crackdown, including pauses in project approvals. As a long-time champion of data centres, US president Donald Trump recently warned that local communities risk ending up "backwards and poor" if their protests cause projects to be cancelled. Diversification strategy But public pushback is unlikely to dissuade the oil field services sector from looking to diversify beyond its core oil and gas business and tap the growth potential of data centres. With forecasts showing electricity demand is set to soar in the coming years due to the AI boom, more deals may lie ahead. In July, SLB teamed up with smaller rival Liberty Energy on data centre infrastructure and power projects. SLB is also serving as the modular design partner for US chip manufacturer Nvidia's AI factories, and has been selected by technology giant Meta to support a major data centre development in Canada. SLB is acquiring Kelvion from funds managed by majority owner Apollo and minority holder Triton. The transaction is expected to close in the first half of 2027 and includes about $700mn in debt. Following the acquisition, SLB is targeting revenue of $4.5bn-$5bn from its combined data centre solutions business in 2028. The deal will not affect spending allocated to SLB's core oil services business or digital operations. And investments in its data centre unit will be funded by cash flows generated by the business as well. While the investment case for the oil services sector has been buoyed by this year's rally in oil prices and prospects for the re-opening of Venezuela to international oil companies, the data centre business offers another revenue opportunity. "It's accretive to earnings, it creates cash flow, it's low capital intensity," says West at Melius. "There's just a lot of very positive momentum right now." By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Danish industry eyes 2050 offshore wind roadmap
Danish industry eyes 2050 offshore wind roadmap
London, 7 September (Argus) — The Offshore Wind 2050 Partnership — comprising seven Danish organisations — has advanced several policy recommendations to help Denmark realise its 40-80GW offshore wind target by 2050, including ensuring regulatory stability and stimulating hydrogen demand. The report aims to provide "concrete" policy recommendations that can provide the "political framework" to deliver on the country's 2050 ambitions, recognising past errors and uncertainties, while noting the practical environmental limitations. The report pays particular attention to investment stability in its recommendations. It urges the government to take "must happen soon" decisions, such as moving forward with proposed rules that offshore wind farms in Danish waters can directly connect to foreign grids, as well as an end to stop-start tenders, which reduce confidence in the investment environment. Denmark's follow-up tender to the 1GW Thor wind project failed in 2024 , with a rerun not completed until last month . A stable investment outlook is particularly important, the report said, noting that Denmark is not building offshore capacity in a vacuum and is competing for investment with neighbouring markets. The report also focuses on electrification as a key driver of the demand needed to support rapid and substantial offshore wind build out, urging for both short-term domestic policy moves and broader co-ordination at EU level. The co-authors are seeking changes to stand-alone battery regulations to allow siting at rural substations, as well as other planning changes to make it easier to co-locate large consumers near renewable generation outside of urban areas, to soak up production. Looking ahead, they also hope for EU-level policy to broaden the available support for electrification beyond large firms to small and medium-sized enterprises, particularly access to EIB instruments. And they ask the European Commission to align several large initiatives, such as the grids package and the electrification action plan, so they can work alongside one another. Other policy recommendations focus on incentivising industrial hydrogen production, expected to be a large consumer of electricity generated by Danish offshore wind, seeking ways to guarantee stable investment conditions and offtake agreements in neighbouring markets. That runs alongside initiatives targeting grid infrastructure, supply chains and labour forces, which are designed to ensure robustness for the European wind industry by reducing outside dependence, in addition to sectoral growth, the report suggests. The partnership comprises the Danish Industry Confederation, the metalworkers union, Insurance and Pension Denmark, renewables lobby Green Power Denmark, the Chamber of Commerce, Denmark's Think Tank for the Ocean and Hydrogen Denmark. By Daniel Craig Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan backs coal-led decarbonisation in SE Asia
Japan backs coal-led decarbonisation in SE Asia
Tokyo, 4 September (Argus) — Japan is keen to support "realistic" decarbonization efforts in Southeast Asia while continuing to use coal, delegates heard at the 35th Clean Coal Day International Symposium held in Tokyo on 3 September. Japan will accelerate working together with Southeast Asian countries to support the continued use of coal while reducing carbon emissions, including through ammonia co-firing projects in Malaysia, Takahiro Tajiri, director-general for international affairs at the Agency for Natural Resources and Energy under Japan's ministry of economy, trade and industry Meti, said in a speech at the symposium. Japan has achieved a 20pc of ammonia co-firing with coal during trial operations at the 1GW No.4 coal-fired unit at the Hekinan power plant and aims to raise the co-firing rate to 50pc in the future. Japan can leverage this technology to support Malaysia and other countries in the region, according to Tajiri. Maintaining coal use while reducing carbon emissions through co-firing with renewable fuels such as ammonia and biomass is a "realistic" pathway for many countries, including Japan and those in Southeast Asia, Tajiri said. Coal remains affordable and provides a stable source of energy supply, he added. Japan should help Southeast Asian countries balance energy security and decarbonization through coal-related technologies, including ammonia co-firing, Paul Baruya, director of strategy and sustainability at Future Coal Global Alliance, said at the symposium. Coal has proven to be an alternative fuel to natural gas in many Asian countries when the de facto closure of the strait of Hormuz caused a sudden and unexpected disruption to LNG supply , Yoshikazu Kobayashi, chief economist and director for research strategy and energy security at the Institute of Energy Economics, Japan (IEEJ), said in his speech. By Takeshi Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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