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July 23 (Reuters) - Europe's largest utility Iberdrola raised five billion euros ($5.87 billion) through a capital increase on Wednesday to help pay for a big rise in investments in power grids in Britain and the United States. The company plans to step up annual investments to around 15 billion euros from around 12 billion euros,... Continue Reading →
(Reuters) Norway's Equinor said on Wednesday it booked a $955 million impairment on an offshore wind project in the United States, despite the lifting of an earlier ban on its construction by President Donald Trump's administration. In April, Interior Secretary Doug Burgum said the administration of former President Joe Biden had failed to conduct enough... Continue Reading →
(offshore-energy.biz) Australia’s oil and gas company Karoon Energy is on the lookout for a new Chief Executive Officer (CEO) and Managing Director (MD), who will take over from its current CEO/MD next year, as the firm prepares to shift its key corporate teams and roles to Brazil and the United States of America (USA). While... Continue Reading →
(Reuters) - Halliburton reported about 33% fall in profit for the second quarter on Tuesday, hurt by weak demand for its oilfield services in North America, Saudi Arabia and Kuwait. The company had flagged a second-quarter earnings impact from President Donald Trump's tariffs and lower oilfield activity in North America as producers evaluated drilling and completions at weak... Continue Reading →
by Ron Bousso - Reuters LONDON, July 18 - The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. Chevron is set to finalize its $53 billion acquisition of... Continue Reading →
(Reuters) - The U.S. government sided with Argentina's effort to put on temporary hold a court order that it turn over its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion judgment won by two investors. In a filing late Thursday night, the government told the 2nd U.S. Circuit Court... Continue Reading →
(Reuters) - Top oilfield services firm SLB narrowly beat Wall Street expectations for second-quarter profit on Friday, as resilient demand in parts of its international business helped offset drilling slowdown in North America, Mexico and Saudi Arabia. SLB, the first of the Big Three U.S. oilfield services provider to report quarterly results, had previously flagged weaker drilling activity... Continue Reading →
(Reuters) - Chevron can quickly proceed with its $53 billion acquisition of Hess (HES.N), opens new tab, after winning a landmark legal battle against larger rival Exxon Mobil, gaining access to the largest oil discovery in decades. Chevron CEO Mike Wirth's strategy to turn around his company's lagging performance hinges on the acquisition, one of the largest energy deals in the past decade.... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras may redirect the oil it sells to the United States, sending more to Asia and Pacific markets due to higher tariffs the U.S. announced on Brazil, its chief executive told Reuters on Thursday. Although oil and gas exports make up a hefty share of Brazil's exports to the United... Continue Reading →
(Reuters) - France's EDF is weighing options to bring in capital to both its North American and Brazilian renewables businesses, a company spokesperson said on Wednesday, which could include stake sales of as much as 50%. The comments followed a report by Bloomberg News citing people familiar with the matter as saying the state-owned utility... Continue Reading →
Brazil Energy Insight 