Austrian oil and gas group OMV said it sees strong improvement in the second half of 2021 as it reported a better-than-expected quarterly core profit on Thursday thanks to higher oil prices and gains from the acquisition of plastics maker Borealis…
Europe's major energy companies profited from a rise in oil prices to report big increases in first-quarter earnings on Thursday, putting the worst of the pandemic era slump in fuel demand behind them.Last year's demand collapse forced BP, Royal…
Lower wind speeds and cable problems hit first-quarter earnings at Denmark's Orsted , sending shares in the world's biggest offshore wind farm developer lower on Thursday.Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 4…
The transition from a fossil-fuel dominated energy system to one with zero emissions would require trillions of dollars of investment in new production, distribution and consumption equipment worldwide.New investments could support millions of new jobs in construction and manufacturing…
BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving the way for the energy company to start buying back its shares.The jump in profits from a year…
France has shortlisted Swedish utility Vattenfall and its two partners to bid in a tender to develop an offshore wind farm with a capacity of about 1 gigawatt (GW) off Normandy, the company said on Tuesday.Vattenfall and its partners - German…
Delek Drilling said on Monday it has signed a non-binding deal to sell its stake in the east Mediterranean natural gas field Tamar to Abu Dhabi's Mubadala Petroleum for $1.1 billion.The deal, if finalized, would be among the most significant…
The problem for crude oil market bulls is that every time they think they have built up steam, something comes along to knock the momentum off track.The coronavirus surge in India and the imposition of states of emergency in populated parts of Japan…
Sweden's Lundin Energy has sold to Italian refiner Saras what it said is the world's first oil cargo certified as carbon neutral at the point of production, the two companies said on Monday.Oil companies are increasingly trying to market their…
New York City on Thursday sued three major oil companies and the top industry trade group in state court, arguing that the companies are misrepresenting themselves by selling fuels as 'cleaner' and advertising themselves as leaders in fighting climate change…
Japan plans to cut approval times for wind projects, open up abandoned farmland, boost grid capacity and other measures to slash red tape that has for decades impeded efforts to bring more renewable energy into the power mix.Actions to reduce…
Offshore wind (OSW) energy is a new focus for the U.S. under President Biden, who highlighted it in his January 27, 2021 Executive Order on climate. Since then, there have been several new supporting developments:Rulings by the Customs and Border Patrol (CBP)…
Tekmar Energy has won a contract with cable manufacturer ZTT to supply its Cable Protection Systems (CPS) for the Gode Wind 3 high-voltage grid connection project in Germany.The 16km long subsea cable is scheduled for installation in 2023 and…
U.S. oil giant Chevron Corp lobbied lawmakers and government officials to protect its energy interests in Myanmar during the first quarter, as the administration of President Joe Biden comes under pressure to impose sanctions against the south Asian country’s military junta…
Equinor must fix a series of rule breaches exposed by a fire at its Melkoeya liquefied natural gas (LNG) plant in Norway last year for the plant to reopen, the country's safety watchdog said on Thursday.The September 2020 blaze shut down production at the plant…
Subscribe
