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(Reuters) - Banks gave 81 cents in financing support to low carbon energy supply for every dollar they provided to fossil fuels in 2021, a report showed on Tuesday, but they will need to ramp up their commitments much further for the world to hit its climate goals. Several climate scenarios suggest that to limit... Continue Reading →
Eni Angola, a wholly-owned subsidiary of Azule Energy, has awarded Malaysian FPSO operator Yinson with a contract to deliver a floating, production, storage and offloading (FPSO) asset for the Agogo field development located offshore Angola. Under the firm contract, Yinson will provide, operate and maintain the FPSO for the Agogo Integrated West Hub Development Project,... Continue Reading →
(Reuters) Italian energy services group Saipem on Monday raised its earnings expectations for 2023 and the next few years after beating 2022 targets as its restructuring plan started to bear fruit. The company reported adjusted core earnings of 595 million euros ($631 million) on sales of 9.98 billion euros last year. This compares with the... Continue Reading →
(Reuters) Russia's Lukoil is in talks with Indian companies to sell its stake in the Pecan oilfield off Ghana, which could help to break an impasse in submitting development plans for the field, sources familiar with the matter said. Talks between Lukoil officials and Indian companies, including ONGC Videsh, the foreign investment arm of Oil... Continue Reading →
(Reuters) - Renewables investor Octopus Energy Generation plans a rapid increase in investment in offshore wind power after spending $1 billion in less than a year. The firm, part of Octopus Energy Group, said it has raised its stake in the 270 megawatt Lincs offshore wind farm off the east coast of England to 31%... Continue Reading →
(Reuters) Shares of John Wood Group Plc surged over 30% on Thursday after the company said it received three preliminary buyout proposals from private equity firm Apollo Global Management Inc. The British oilfield services and engineering firm said late on Wednesday that its board had rejected all the proposals, saying they "significantly undervalued" the company's... Continue Reading →
Dutch oil and gas services firm SBM Offshore forecast on Thursday an annual revenue of above $2.9 billion for 2023, bringing its guidance for earnings before interest, taxes, depreciation, and amortization (EBITDA) to above $1 billion. The group, which supplies and operates floating production, storage and offloading (FPSO) vessels, reported an EBITDA of $1.01 billion... Continue Reading →
Fugro has reported a revenue of €1.76 billion for the whole year of 2022, representing a 14.8 per cent growth in comparison to 2021, said to be due to a 42 per cent increase in offshore wind. Infrastructure and oil & gas were also up, with 7 per cent and 9 per cent respectively. Marine... Continue Reading →
(Reuters) - Italian energy group Eni (ENI.MI) said on Thursday its adjusted net profit rose to 13.3 billion euros ($14.12 billion) in 2022, the largest in over a decade, but its shares fell as markets focused on a weaker exploration and production performance in Q4. The state-controlled group's 2022 performance was boosted by a heightened focus on... Continue Reading →
Oil and gas producer Wintershall Dea swung to a loss last year, hit by significant impairments and losses related to Russia's war in Ukraine, it said on Thursday. Wintershall reported a group net loss of 4.8 billion euros ($5.1 billion), including 7 billion euros in one-off, non-cash losses related to its Russian upstream and associated midstream... Continue Reading →
Brazil Energy Insight 