Brought to you by Quest Offshore & Southern Cone Consultants
Even as the pandemic continues to drive down consumer spending and depress oil prices, investors are spending big on clean-tech companies. Shares are now near record highs, the latest sign that wind and solar are no longer fringe bets. Electric-carmaker Tesla Inc. has grabbed much of the attention with a 255% jump this year. But... Continue Reading →
BP (BP.L) cut its dividend for the first time in a decade after a record $6.7 billion second-quarter loss, when the coronavirus crisis hammered fuel demand, and it sought to win over investors by speeding up its reinvention as a lower carbon company. Its shares rose more than 7% on Tuesday after BP unveiled earlier... Continue Reading →
Italian energy services group Saipem painted a gloomy outlook for the year after reporting a net loss of 616 million euros ($723 million) in the second quarter following writedowns. The company said the industry faced uncertain demand for oil and gas. In April the group pulled its 2020 outlook, saying the pandemic might trigger a... Continue Reading →
Some oilfield services providers struggling to find work due to the oil industry downturn might replace some of the revenue by providing services in the renewable energy markets. For those in the SURF, maintenance, construction, and installation segments, the opportunities are especially ample, Norway-based energy intelligence firm Rystad Energy said. "Hit by the Covid-19 downturn,... Continue Reading →
Warren Buffett’s $9.7 billion bet on natural gas looks even more contrarian today. As Democrat Joe Biden unveils a staggering $2 trillion clean-energy plan—the most ambitious climate package ever offered by a presumptive presidential nominee—Buffett’s recent deal to buy Dominion Energy Inc.’s natural gas assets is a stark sign he’s expecting that the market’s shift... Continue Reading →
Jul 16, 2020 The Oil and Gas Climate Initiative (OGCI), a group made up of large oil companies to respond to the O&G industry's global change, announced today a new emission reduction target. The consortium aims to reduce from 20 kg to 21 kg of CO2 for each barrel of equivalent oil sold in the... Continue Reading →
Wood, the global engineering and consulting company, has successfully delivered preliminary engineering design services for gas network operator SGN’s candidate site at Machrihanish, on the west coast of Scotland, as part of its Hydrogen 100 (H100) project. The H100 demonstration project will initially aim to supply energy to homes in Fife, Scotland. When powered by... Continue Reading →
Eni CEO Claudio Descalzi wants to turn the 67-year-old Italian oil and gas firm into a greener business, focusing on clean low-carbon products to build a huge customer base which he believes can steady the ship and attract investors more than ever. The veteran oil executive, reappointed as Eni chief for a third time in... Continue Reading →
Amid what the IEA has dubbed a “dismal” year for fossil fuels, the one bright spot is the performance of renewables sector, which is still expected to grow by 1% this year. That is a serious downgrade on the sector’s record performance last year, when global wind power capacity grew by almost a fifth. Nonetheless,... Continue Reading →
June 12, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on 03/13/2020 and 05/04/2020, announces the beginning of the binding phase regarding the joint sale, with Wobben Windpower Indústria e Comércio Ltda (Wobben), of all of its shares (51% Wobben and 49% Petrobras) in the companies Eólica Mangue Seco 3... Continue Reading →
Brazil Energy Insight 