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(Reuters) - Argentina's central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%. The central bank upped the benchmark Leliq rate by 300 basis... Continue Reading →
(Offshore Energy) War in Ukraine is transforming the outlook for the supply, demand, and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict, a rewriting of energy trade flows is now underway, energy intelligence group... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday raised interest rates by 50 basis points, in line with prevailing market expectations, and signaled another increase coming in the world's most aggressive rate-hiking cycle. The bank's rate-setting committee, known as Copom, raised its benchmark Selic interest rate to 13.25%, the highest level since the beginning of 2017... Continue Reading →
Subsea 7 has updated its Adjusted EBITDA guidance for the full year 2022 following reduced progress on two offshore wind projects and vessel reshuffle at its subsidiary Seaway 7. Seaway 7 announced provisions against the results of project execution of offshore windfarm installations due to increased costs relating to weather delays and mechanical breakdowns. This,... Continue Reading →
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV. In Hydrogen Forecast to 2050, DNV predicts the amount of hydrogen in the energy mix will be only 0.5% in 2030 and 5%... Continue Reading →
(Reuters) - U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street. Soaring fuel prices have boosted inflation to a 40-year record and are expected to drive up U.S. gasoline by more... Continue Reading →
Seaway 7, a fixed-bottom offshore wind installation affiliate of Subsea 7, on Monday revised its adjusted EBITDA guidance for the full year 2022, citing issues with offshore wind projects in the Netherlands and Taiwan. The company said its revenue is expected to be in line with previous guidance towards $1 billion, with an Adjusted EBITDA... Continue Reading →
(Reuters) - Oil and gas group Repsol (REP.MC) has agreed to sell a quarter of its newly-created renewable energy unit to Credit Agricole Assurances (CAGR.PA) and asset manager Energy Infrastructure Partners for 905 million euros ($964 million), the company said on Thursday. The deal values the whole unit, which is building wind, solar and hydro plants in Spain, the... Continue Reading →
(Reuters) - The International Monetary Fund (IMF) said Wednesday it had reached a staff-level agreement on an updated macroeconomic framework with Argentine authorities, allowing the country access to about $4.03 billion. The IMF said in a statement that the country had met all quantitative targets in the first quarter and that annual objectives remained unchanged,... Continue Reading →
(Reuters) - Venezuela's state-run PDVSA last month began switching most oil sales to prepayment, requiring spot cargo buyers pay in full before tankers can set sail after several recent defaults, three people close to the decision said. The new payment terms, first communicated in April to companies intermediating in the oil sales, sharply reduced May... Continue Reading →
