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Energy transition company Technip Energies has agreed to buy €20 million (approx $24.2 M) equivalent of its own shares from TechnipFMC. In February 2021, TechnipFMC and Technip Energies were separated as two independent, publicly traded companies. Technip Energies deals in LNG, hydrogen, and ethylene as well as blue and green hydrogen, sustainable chemistry, and CO2 management,... Continue Reading →
Energy group BP (BP.L) said on Tuesday it expects to have hit its $35 billion net debt target in the first quarter of this year, sooner than expected and paving the way for it to deliver on its promise of buying back shares. "This is a result of earlier than anticipated delivery of disposal proceeds combined with... Continue Reading →
Portugal's Galp Energia on Monday reported a 13% slump in adjusted first-quarter net profit, hit by a decline in oil production owing to constraints caused by the COVID-19 pandemic and slower refining activity. Galp suspended output at its largest refinery in Sines and its smallest, Matosinhos, in April 2020. It resumed production at both locations... Continue Reading →
(Bloomberg) -- After one of the most difficult years in the oil industry’s history, crude prices have recovered and major producers are finally generating spare cash. Investors really want to get their hands on it, but most are likely to be disappointed. That’s because the pandemic has created a legacy of debt for the world’s... Continue Reading →
Ocean Power Technologies, Inc. (OPT) said Thursday that Enel Green Power (EGP) has deployed OPT's PB3 PowerBuoy off the coast of Las Cruces, Chile to support the country’s transition to clean energy. OPT’s PB3 PowerBuoy converts wave motion into electricity to supply continuous and autonomous power and enable secure collection and transmission of data from... Continue Reading →
Norwegian energy giant Equinor has informed, ahead of the 2021 Annual General Meeting, that starting in 2022 it will submit its energy transition plan for advisory vote to shareholders at its Annual General Meeting. Equinor said on Monday it will update the plan every three years for an advisory vote and progress on the plan... Continue Reading →
-(BUSINESS WIRE)--New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”) today announced the completion of its acquisition of Hygo Energy Transition Ltd. (“Hygo”), a 50-50 joint venture between Golar LNG Limited (Nasdaq: GLNG) (“GLNG”) and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”), for 31,372,549 shares of NFE and $580... Continue Reading →
Royal Dutch Shell said on Thursday the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades. The disclosure is a rare admission by a major oil and gas company that some of... Continue Reading →
The Norwegian oil company Equinor recently decided on the concept of area development for block BM-C-33 in the Campos Basin. One of the main points of Equinor's undertaking will be the construction of an offshore pipeline, which will connect the platform vessel (FPSO) from the field to a gas receiving installation at the Cabiúnas Terminal,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on January 7, 2021, informs that today it has concluded the sale of the totality of its 49% interest in Eólica Mangue Seco 1 - Geradora e Comercializadora de Energia Elétrica S.A. (Eólica Mangue Seco 1) to V2I Energia S.A., invested by Vinci Energia... Continue Reading →
