Latest news with #energycrisis
News.com.au
17 hours ago
- Business
- News.com.au
Rio Tinto Tomago aluminium smelter in NSW reportedly close to collapse
Rio Tinto's massive Tomago aluminium smelter in NSW is reportedly close to collapse. The facility, situated in Tomago about 13km west of Newcastle, employs some 1000 workers directly, but a stoppage would hit another 5000 indirect workers across the Hunter Valley. Mining giant Rio Tinto holds a 51.6 per cent interest in the smelter, which produces about 590,000 tonnes of aluminium each year, or about 37 per cent of Australia's total production. Multiple reports suggest the company is in emergency talks with state and federal governments for a bailout. NewsWire has contacted NSW energy minister Penny Sharpe, federal energy minister Chris Bowen and the Australian Workers' Union for confirmation of the discussions. Rio Tinto declined to comment on Tuesday. The AFR first reported on the talks on Friday, citing high energy costs for the possible shutdown. Tomago is currently powered by AGL Energy's Bayswater coal fired power station, but is pivoting to renewable energy. In January, the federal government announced a $2bn production credit for aluminium businesses to transition their smelters to green energy, which Rio heralded as a vote of confidence in domestic manufacturing. 'As traditional energy sources for heavy industry become increasingly uncompetitive, today's announcement is a critical piece in helping future-proof the industry,' Rio Tinto chief executive for Australia Kellie Parker said. 'Such support is crucial for sustaining and growing regional economies. 'As global industrial customers and consumers increasingly focus on low-carbon products, this support signals Australia's potential to be a major supplier of the aluminium needed for the global energy transition.' But negotiations over a new energy contract have troubled the smelter's operations for months. The current contract with AGL is due to expire in 2028. 2GB's Ben Fordham, speaking on Tuesday, said the situation was 'not good'. 'We've got the materials, we've got the workers, we've got the smelters, but what we don't have is a working energy system,' he said. 'If it shuts, we're not just losing a smelter, we're risking 6000 jobs.' Some 90 per cent of Tomago aluminium is exported to Asia.
Zawya
a day ago
- Business
- Zawya
It is Time to End Energy Poverty in Africa, it's Time to Get it Right
WHY THIS SUMMIT MATTERS NOW Africa stands at a critical energy crossroads. Despite being richly endowed with oil, gas, solar, hydro, and wind resources, the continent is facing a deepening energy crisis. According to the International Energy Agency (IEA), over 600 million Africans still lack access to electricity, and more than 900 million rely on biomass such as firewood and charcoal for cooking—leading to deforestation, poor health outcomes, and economic stagnation. As the world races toward energy transition and net-zero emissions, Africa risks being left behind—not due to a lack of resources, but due to underinvestment, policy misalignment, and fragmented strategies. The continent loses an estimated $130 billion in GDP annually due to inadequate energy access and unreliable infrastructure. Furthermore, less than 3% of global energy investments are currently directed to Africa, despite its immense potential and rising demand. With the continent's population projected to double to 2.5 billion by 2050, and urbanization accelerating at an unprecedented rate, the pressure on energy systems will only intensify. Without bold action, Africa's energy poverty could worsen—jeopardizing industrialization, food security, healthcare, and climate resilience. This is why the theme of IAEOG 2025, 'Getting It Right,' is not just timely—it is critical. 2025 THEME: 'GETTING IT RIGHT' This year's theme, 'Getting It Right,' reflects Africa's urgent need for inclusive, innovative, and sustainable energy solutions. With over 600 million Africans still lacking access to electricity and just 17% of the continent's vast renewable energy potential currently utilized, the summit aims to catalyze transformative action. Energy poverty costs the continent an estimated 4% of its GDP annually. IAEOG 2025 will tackle these challenges head-on by promoting policy harmonization, strategic investments, and collaborative partnerships, aligned with the goals of the African Continental Free Trade Area (AfCFTA) and Agenda 2063. The summit will feature eight thematic tracks, including: Energy Transition&Innovation Climate Finance&Sustainability Infrastructure Development Oil&Gas Technologies Regulatory Reforms Capacity Building&Local Content Investment&Finance Digital Transformation in Energy IAEOG 2025 is poised to catalyze over $1 billion in clean energy investments. WHY ATTEND IAEOG NAMIBIA 2025 IAEOG is more than just a summit—it is a catalyst for action, innovation, and opportunity. Participants can expect: Executive panel sessions and keynote addresses Master classes and technical workshops High-impact exhibitions and product showcases Dedicated investment and pitch rooms Curated B2B meetings and networking lounges With over 740 senior-level delegates, including government ministers, CEOs, and regulatory leaders, and 700+ global investors, the event will host 500+ private investment meetings. The exhibition is expected to feature 2,000+ participants from 80+ countries, offering unmatched exposure and collaboration. AWARDS, EXHIBITION&CHARITY GOLF TOURNAMENT A key highlight will be the African Energy Excellence Awards, recognizing organizations and individuals making transformative contributions in the energy space. The Exhibition Hall will showcase 100+ innovations across oil, gas, renewables, and clean tech sectors. The Charity Golf Tournament, hosted at the Windhoek Golf&Country Club's 18-hole Championship Course, will blend leisure and philanthropy—raising funds for youth empowerment and community development initiatives across Africa. CONFIRMED SPONSORS Among the notable sponsors is Green Energy International Ltd (GEIL), operator of the Otakikpo Marginal Field (OML-11) in Nigeria, a firm renowned for its dedication to local content and sustainable practices in Africa's oil and gas sector. Green Energy International's launch of Nigeria's first fully indigenous onshore crude export terminal at Otakikpo, with 360,000 barrels-per-day capacity, the facility is expected to unlock stranded reserves across 40 marginal fields in the Niger Delta region. Others are Oriental Oil and Gas Services Ltd, First Otakikpo Midstream Ltd, All Grace Energies Ltd and others. PARTICIPATION&PARTNERSHIP OPPORTUNITIES IAEOG 2025 offers a range of engagement opportunities including: Speaking slots Sponsorship packages Exhibition booths Media and content partnerships All participants will receive: Certificates of Participation Access to post-event insights Priority inclusion in matchmaking&networking sessions Early Bird Offer: Register four delegates and receive one complimentary pass—ideal for organizations seeking knowledge, visibility, and strategic advantage. SECURE YOUR SPOT TODAY Join us in Windhoek, Namibia, this August to connect with global leaders, close high-value deals, and shape the energy policies that will power Africa's future. Let's drive Africa's energy transformation—together. #EnegrySecurity #EndEnergyPoverty #Unity #Summit #IAEOGS2025 #AfricaNow #GetInvolved #EndAfricanDebts #TechSolution #IntraAfricaTrade #AfCFTA ' The future belongs to those who prepare for it today. With a Population of over 1.5 Billion, Africa's energy destiny will not be written by chance—but by bold choices, shared vision, and unwavering action. Too often, we delay our dreams waiting for the perfect timing, the right tools, or a bigger platform. But the truth is - greatness begins in the ordinary. It is time to 'Get it Right', it is time to end Energy Poverty in Africa' — Noah Ajare CEO African Peace Magazine Distributed by APO Group on behalf of African Peace Magazine. For inquiries: Sandra Chia Group Head, Events&International Affairs +234 803 397 5746 | +44 7407 399 76 Email: africanpeacemag@ Email: info@ Email: africanpeacemag@ Email: info@ Email: info@ Nigeria Abuja Office: Suite FT 12B Alibro Atrium Plaza Utako Abuja +2348033975746 Suite T1 Vatan Plaza Lokogoma Junction Abuja South African Office: 16 Ridge Road Vorna Valley Midland 1686 South Africa +27662449117 +27(83) 9380469 Angola: Call: +244928690892 +244993656970 +244927589884 +244930899588 Namibia: Call: +264816364935 +264812383522 London Office: 10 Saint Andrew Road Bedford MK 402LJ England Call +4477771217805 WhatsApp +447407399766 United States of America: Call: +1 (443) 883-5678 Social Media: Facebook: I.G: LinkedIn: Twitter: https:// AFRICA PEACE ORGANIZATION Website: www. www. ABOUT IAEOG 2025: The International African Energy, Oil&Gas Summit (IAEOG) stands as Africa's premier platform for innovation, investment, and dialogue in the energy sector. Now in its fourth edition, the summit continues to gain momentum, drawing over 2,500 high-level delegates from more than 50 countries, including CEOs, ministers, investors, regulators, entrepreneurs, and global industry leaders—united in unlocking Africa's full energy potential. ABOUT AFRICAN PEACE MAGAZINE UK: African Peace Magazine UK is a member of African Peace Organization, a respected Pan-African media organization with over 15 years of experience in promoting peace, sustainable development, governance, and prosperity across Africa and its diaspora. With leading platforms including African Peace Magazine, Television, Radio, and Awards, the group spotlights stories of excellence, innovation, and resilience. Headquartered in the UK and operational across Africa, the magazine serves as a vital bridge between policymakers, private sector stakeholders, and grassroots communities.
Bloomberg
2 days ago
- Business
- Bloomberg
Europe's Gas Refilling Assignment Is Going Well — For Now
Over the weekend, the European gas market reached a milestone: Inventories rose above 50% of capacity. Considering the low starting point, that's no small feat: One could almost hear a sigh of relief in Brussels, London and Berlin. So far, so good. Everything needs to continue to go smoothly for the rest of the refilling season, which runs from April to November, to declare victory. As often since the European energy crisis started in 2021, the region is largely at the mercy of outside forces. Europe started its annual gas refilling season in a precarious state: inventories ended the 2024-25 winter at about 33.5% of capacity, well below the 55% of the previous two seasons when warm winters and sky-high prices reduced demand. Although European gas prices have declined from the two-year high they reached in February of nearly €60 ($68) per megawatt hour, they remain higher — at about €35 — than at this time of year in 2024 and 2023. The lower-than-normal starting point for stockpiles means Europe needs to buy lots of gas during spring and summer. With Russian supply via pipeline down sharply after the transit contract via Ukraine wasn't renewed at the end of 2024, that means buying lots of liquefied natural gas. So far, Europe has had the LNG market to itself. On the demand side, China, typically the biggest buyer, has been absent due to low manufacturing activity, the byproduct of the trade war between Washington and Beijing. On the supply side, production is surging with more on the way from the US and Canada. Under existing European rules, inventories need to be filled to 90% by November. But Brussels is fast-tracking new regulations that would lower the target to 83% and give flexibility around the exact date when it needs to be achieved. Germany hasn't waited for the change; last month, it unilaterally lowered its own target to 80%. European policymakers reason that the region doesn't need to stockpile as much as in the past because the supply/demand balance isn't as tight. For one thing, gas demand is lower as energy-intensive companies have shut factories; and after scant additions to supply in 2024, global LNG production capacity will surge this year and again in 2026 with projects in the US, Canada, Qatar and Mexico. But reducing the inventory requirement isn't cost free. It means going into the winter with a reduced insurance policy — fine if all goes well, not so great if, for example, a cold winter stresses the European market. If the region stockpiles gas for the rest of the season at the average pace of the last three years, it should be able to hit 80% by November, meeting the new, reduced mandate. Still, that would mean Europe entering winter with the second-lowest inventory level in recent history, only behind the 77% seen at the peak of the regional energy crisis in 2021-2022 . Moreover, reaching 80% isn't a given. There are three major risks that could leave inventories below that level unless governments step in to buy more: President Donald Trump controls two of them, with the third at the mercy of the weather.
Bloomberg
2 days ago
- Business
- Bloomberg
How the Republican Budget Bill Will Raise Your Electric Bill
Three years ago, largely in response to disruptions in the global energy supply triggered by Russia's invasion of Ukraine, electricity prices in the US skyrocketed — and they have remained strikingly high, as the US grid is stressed by the growth in electric-car charging and a huge surge in data-center construction. To address rising consumer prices, America needs to generate more electricity. The budget bill currently being debated in the Senate would have the opposite effect. It would kneecap America's short-term wind and solar installations while undermining the hope for innovative new ' clean firm ' solutions such as geothermal and nuclear.
Telegraph
3 days ago
- Business
- Telegraph
British manufacturing is dying before our eyes
British industry has hit a new low. Factories consumed the least energy in 50 years in 2024, with the decline almost entirely because of shutdowns and closures. Factory bosses say Britain's sky-high energy costs are crippling heavy industry, forcing businesses to shut down production lines or abandon operations altogether. They blame surging gas prices but also a succession of green levies piled onto bills. The energy consumption slump, spelt out in the latest government statistics, comes just days before the Government is expected to announce its new industrial strategy. Jonathan Reynolds, the Business Secretary, is pledging to reverse decades of decline. But the energy consumption data – widely seen as a proxy for the state of British manufacturing, especially the energy-intensive sectors – suggests Reynolds will need some truly radical measures if he is to succeed. Britain has millions of businesses, which all consume energy, but what such data reflects most strongly are the trends within our 'foundational industries' – energy-intensive manufacturing that produces the basic materials other sectors need to function. This includes steel, cement, chemicals, glass, paper and ceramics. Production of all of these materials relies on cheap, plentiful heat. If that heat becomes expensive, those industries die – and that, both the stats and the industries themselves say, is what is happening.
