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(Reuters) Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into... Continue Reading →
Norwegian energy giant Equinor has informed, ahead of the 2021 Annual General Meeting, that starting in 2022 it will submit its energy transition plan for advisory vote to shareholders at its Annual General Meeting. Equinor said on Monday it will update the plan every three years for an advisory vote and progress on the plan... Continue Reading →
Royal Dutch Shell said on Thursday the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades. The disclosure is a rare admission by a major oil and gas company that some of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on January 7, 2021, informs that today it has concluded the sale of the totality of its 49% interest in Eólica Mangue Seco 1 - Geradora e Comercializadora de Energia Elétrica S.A. (Eólica Mangue Seco 1) to V2I Energia S.A., invested by Vinci Energia... Continue Reading →
(Reuters) - Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter, the world’s biggest fuel retailer said on Wednesday, indicating fuel demand recovery has remained slow amid coronavirus restrictions. In a trading update, Shell said it saw refined oil product sales at 3.7-4.7 million barrels... Continue Reading →
(Reuters) - Global energy trader Vitol suffered an $85 billion fall in revenue last year, but its profits were boosted as trading plays offset the impact of the COVID-19 pandemic on oil demand and prices. Many traders benefited in 2020 from extreme oil price volatility and storage opportunities. In April last year, U.S. light sweet... Continue Reading →
Europe's biggest utilities Enel and Iberdrola saw the clean energy transition coming decades ago when others baulked at the high cost of producing energy from the sun and wind and instead stuck with coal and oil. Thanks to early decisions to buy power grids and build renewable plants, the once-staid utilities are now among a... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on January 7, 2021, informs that today it finalized the joint sale with Wobben Windpower Indústria e Comércio Ltda (Wobben) of all its stakes (51% Wobben and 49% Petrobras) in the companies Eólica Mangue Seco 3 - Geradora e Comercializadora de Energia Elétrica S.A. (Eólica... Continue Reading →
(Reuters) - Energy trader Gunvor Group aims to cut its Scope 1 and 2 emissions by 40% in absolute terms by 2025, the company said on Tuesday, and has set up a new subsidiary to invest in non-hydrocarbon projects. The Geneva-based firm, which is among the top five global oil traders, aims to cut emissions... Continue Reading →
(Reuters) - China’s Sinopec Corp, Asia’s largest oil refiner aims to be carbon neutral by 2050, with its near-term strategy focused on natural gas development and a long-term pivot to hydrogen, top executives said on Monday. As China’s largest hydrogen producer, Sinopec will focus on fossil fuel-based hydrogen production over the next five years and... Continue Reading →
