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(Reuters) - Europe's biggest utility Iberdrola (IBE.MC) posted a 36% rise in half-year net profit on Wednesday as strong results in the U.S., UK and Brazilian markets offset a fall at home in Spain. European energy prices have soared as markets still reeling from the havoc COVID-19 played on supply and demand were hit with supply disruptions... Continue Reading →
Equinor said it will return an additional $3 billion to shareholders after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago, making Norway the continent's largest supplier of piped... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) said on Tuesday it has made two new oil discoveries offshore Guyana and that it has already exceeded its original year-end daily production target for the South American country. The announcements are part of Exxon's efforts to accelerate production in Guyana and to invest in long-term megaprojects that offer lower costs... Continue Reading →
(Reuters) - Brazilian chemical maker Unigel on Monday announced plans to build a green hydrogen plant in the northeastern state of Bahia, with an initial investment of $120 million and the goal of making it one of the largest of its kind in the world. The plant is expected to start operations by the end... Continue Reading →
(OEM) Wave Energy Scotland (WES) has launched a tender for a study into the techno-economic benefits of shared services and infrastructure for wind and wave energy generation technologies and projects. The challenge is to identify and analyze opportunities for sharing of physical infrastructure, supply chains and services between wave energy and floating wind energy technologies and developments. These opportunities... Continue Reading →
Rystad Energy, an energy intelligence group, has revealed that Guyana’s burgeoning offshore oil and gas industry is poised to enter the big league with revenues set to break the $1 billion mark in 2022 and see a significant annual acceleration in 2030. This boost in revenue is powered by the Stabroek block, according to Rystad Energy’s research,... Continue Reading →
(Reuters) - Portuguese oil and gas company Galp Energia (GALP.LS) reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin. Rapid recovery in demand after pandemic lockdowns and a surge in energy prices driven by Russia's invasion of Ukraine have boosted profits for oil companies... Continue Reading →
Enel Brasil and the Government of the State of Ceará signed a memorandum of understanding to carry out technical, commercial, legal and financial feasibility studies for the future development of green hydrogen production projects in the State by Enel Green Power Brasil, an renewable generation of the Enel Group in the country. The partnership will... Continue Reading →
(OEM) Looking at the future of the oil and gas industry in the sustainable energy landscape, Wood Mackenzie, an energy intelligence group, has outlined three key elements of the energy super basins of the future. Ever since Russia’s attack on Ukraine, the outlook for the supply, demand, and price of fossil fuels is constantly shifting, which... Continue Reading →
(Rigzone) In the coming years, upstream capex in Latin America will shift into deeper and deeper water with Brazil, Guyana, and Mexico likely to lead the charge for new spending, Rystad Energy said. While onshore investments stabilized at around $14 billion and shallow water spending continues to decline, deepwater expenditure is projected to grow at... Continue Reading →
