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(Reuters) - Denmark's Orsted (ORSTED.CO) said on Monday it had agreed to sell half of the Hornsea 2 project in Britain, which will become the world's biggest offshore wind farm, to a French consortium for 3 billion pounds ($3.94 billion). The deal is consistent with the Danish energy giant's strategy of selling off large stakes in operational... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp (600028.SS), better known as Sinopec, is planning its highest capital investment in history for 2022 after recording its best profit in a decade, echoing Beijing's call for energy companies to raise production. Sinopec expects to spend 198 billion yuan ($31.10 billion) in 2022, up 18% from a year ago,... Continue Reading →
Malaysian state-owned energy giant Petronas has denied reports, speculating on it buying a significant stake in compatriot oil and gas services company, Sapura Energy. In a statement last Friday, Petronas referred to news reports, comments in the media, and recent speculation on purported “talks with the Government on a proposal to take a significant stake” in Sapura... Continue Reading →
(OE) Mexican authorities have decided that Mexico's national oil company Pemex would become the operator of the giant Zama offshore field development, despite the fact that the discovery was made by the U.S. oil company Talos Energy back in 2017. Talos Energy said Monday it had received the final Unitization Resolution ("UR") from Mexico's Ministry of... Continue Reading →
(OE) Offshore drilling contractor Diamond Offshore has received approval to relist its unrestricted common stock on the New York Stock Exchange (NYSE) under the ticker symbol "DO." "The company expects the common stock to commence trading on or about Wednesday, March 30, 2022," Diamond Offshore said. Bernie Wolford, Jr., President, and Chief Executive Officer, stated,... Continue Reading →
(Reuters) - Saipem (SPMI.MI) will launch a 2 billion euro ($2.2 billion) capital increase this year and sell assets to help fund a turnaround plan to bring the troubled Italian energy services group back into the black. The company stunned investors in January when it downgraded earnings by a billion euros due to a significant deterioration of... Continue Reading →
(Reuters) The Swiss trading arm of Russian energy giant Lukoil (LKOH.MM) has scaled back operations after the oil company cut its supply of capital to guarantee nearly $1 billion in margin calls in the wake of Western sanctions, according to three people familiar with the matter. Litasco, which was handling more than 3.6 million barrels per day,... Continue Reading →
The independent oil company closed 2021 with net revenue of R$ 1.04 billion. Of this total, BRL 285 million refers to the fourth quarter, with a growth of 38.1% compared to the same period in 2020. In addition, the company's net income reached BRL 176.9 million in the consolidated for 2021 and EBITDA in the... Continue Reading →
(FT) The crisis in global energy markets will force some smaller commodity traders out of business and unleash a wave of consolidation in the sector, a senior executive at one of the world’s largest trading houses has warned. Christophe Salmon, Trafigura’s chief financial officer, said a surge in the capital needed to keep commodities flowing... Continue Reading →
(Reuters) - Saipem (SPMI.MI) core investors Eni (ENI.MI) and CDP together with a pool of banks are ready to advance 1.5 billion euros of an overall 2 billion euro capital increase to rescue the troubled Italian energy service group, two sources said. The two investors, tied by a shareholder pact, will stump up in advance most of their share... Continue Reading →
Brazil Energy Insight 