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(Reuters) - The Democratic Republic of Congo is in talks with oil companies over around $160 million in back payments in a bid to avoid nation-wide fuel shortages that hit the country in September, the government said on Monday. Long queues formed at gas stations in major cities earlier this year as stocks dwindled -... Continue Reading →
Offshore drilling contractor Seadrill is returning to the New York Stock Exchange (NYSE) following a couple of years of absence. Seadrill Limited announced on Tuesday that it had received approval to relist its common shares on the NYSE under the ticker symbol “SDRL”. The company expects the common shares to begin trading on or about... Continue Reading →
(Reuters) - Argentine state-owned energy firm YPF (<YPFD.BA>) has seen its bonds and shares take off this year, despite a wider economic malaise, with hope of a shale boom in the South American nation's huge Vaca Muerta formation luring investors. The state firm's bonds have risen between 5-11% this year, even as some sovereign debt has plummeted... Continue Reading →
(RE) A vast network of long-distance shipping and pipeline routes will be built by 2050 for the trading of just over 60% of the world’s hydrogen supply, according to a new report by Hydrogen Council and the consulting firm McKinsey. In a “cost-optimal world”, half of the 400 million tonnes of H2 they expect to be... Continue Reading →
Sembcorp Marine Ltd (the “Company”) refers to its announcements dated 28 December 2021 and 18 August 2022 concerning its wholly-owned subsidiary, PPL Shipyard Pte Ltd (“PPLS”), reaching in-principle agreement with Borr Drilling Limited (“Borr Drilling”) to defer PPLS’ receivables from Borr Drilling from 2023 to 2025 (“Deferment”). The Company would like to update that PPLS... Continue Reading →
(OEM) Malaysian FPSO provider Yinson has entered into a $720 million syndicated loan facility for the FPSO Maria Quitéria, which is being built to operate for Petrobras in waters offshore Brazil. Yinson said on Thursday that the loan is with ING Bank N.V., Singapore Branch, Maybank Group, Natixis Corporate & Investment Banking, Standard Chartered Bank... Continue Reading →
(Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday will announce a $950 million loan to the Clean Technology Fund (CTF), a multilateral trust fund that helps developing countries accelerate their transition from coal power to clean energy. The contribution, the first of its kind from the U.S. Treasury, makes good on a U.S. pledge... Continue Reading →
(Reuters) - Wall Street analysts on Wednesday sharply increased their view of Exxon Mobil Corp's third quarter earnings after the company disclosed a $2 billion profit gain from selling natural gas. The disclosure signaled the largest U.S. oil maker quarterly profit due out later this month will land close to the second quarter's record $17.9... Continue Reading →
(Reuters) - Struggling wind turbine maker Siemens Gamesa (SGREN.MC) will replace the head of its onshore unit due to recent financial losses that have piled pressure on the business, an internal memo seen by Reuters showed. Chief Executive Jochen Eickholt said in an emailed internal memo seen by Reuters that Lars Bondo Krogsgaard, chief executive of the... Continue Reading →
(Reuters) - France on Tuesday started the process to fully nationalise debt-laden nuclear power group EDF (EDF.PA), seeking to secure greater control of its energy supplies just as Europe scrambles to replace Russian gas. The Paris government filed an offer with the market regulator to buy all shares in the group it does not already own... Continue Reading →
Brazil Energy Insight 