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Italian energy services group Saipem on Friday forecast a sales pick-up in the second half after posting an operating loss in the first six months, hurt by the impact of the COVID-19 pandemic and problems with a wind project. The group posted an adjusted operating loss of 266 million euros ($316 million) for the first... Continue Reading →
(Reuters) - Europe's top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies. After swiftly cutting spending and jobs in response to the unprecedented collapse in energy demand last year, executives from... Continue Reading →
Royal Dutch Shell boosted its dividend and launched a $2 billion share buyback program on Thursday after a sharp rise in oil and gas prices drove second-quarter profits to their highest in more than two years. As profits across the industry recovered from last year's pandemic-led collapse in energy demand, peers TotalEnergies and Norway's Equinor... Continue Reading →
By Oliver Thompson, Archer Knight Demand for work-class ROVs (WROV) has traditionally been determined by the state of the global offshore oil & gas industry. This is likely to remain the case in the short to medium-term. However, there’s a new kid on the block – offshore wind. Growth in this sector is seen as... Continue Reading →
French energy major TotalEnergies and energy transition company Technip Energies have teamed up to decarbonise LNG plants and offshore facilities for the energy transition push. The companies signed a technical cooperation agreement that aims to accelerate the energy transition. Under the agreement, they will explore new concepts and technologies to cover LNG plants and offshore-type... Continue Reading →
Oilfield services provider Baker Hughes has reported a loss in the second quarter of the year regardless of the company posting an increase in orders and revenues. In its second quarter of 2021 report on Wednesday, Baker Hughes said that its orders in the quarter were $5.1 billion, up 12 per cent sequentially and up four per... Continue Reading →
(Reuters) - Global miner BHP Group (BHP.AX) is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter. The world's biggest miner is reviewing its petroleum business and considering options including a trade sale,... Continue Reading →
Italian cabling giant Prysmian has set up a target to achieve net-zero for its global operations between 2035 and 2040, as well as for its value chain emissions by 2050. Prysmian announced the commitments as part of its new Climate Ambition and Social Ambition frameworks. In terms of Climate Ambition, the plan is to reach... Continue Reading →
Finland-based marine and energy equipment maker Wärtsilä expects the third quarter of the year to be better than the corresponding one of 2020 but has warned that prevailing market conditions make the outlook uncertain. The company made the statement Tuesday as part of the release of its second-quarter results. In the second quarter of 2021,... Continue Reading →
(epbr) The investments announced for the construction of plants producing green hydrogen (H2V) in Brazil already total more than US$ 22 billion, all concentrated in ports — Pecém, in Ceará, Suape, in Pernambuco, and Açu, in Rio de Janeiro. These ports combine a series of strategic factors for the development of the new H2V chain,... Continue Reading →
Brazil Energy Insight 