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☆ In show of unity, NATO and EU heads visit North Sea gas platform
▼ + stars: | 2023-03-17 | by ( Nora Buli | ) www.reuters.com time to read: +3 min

[1/3] Norway Prime Minister Jonas Gahr Stoere, European Commission President Ursula von der Leyen, NATO Secretary-General Jens Stoltenberg and Equinor CEO Anders Opedal visit the Troll A gas platform in the North Sea, Norway March 17, 2023. Ole Berg-Rusten /NTB/via REUTERSTROLL A PLATFORM, North Sea, March 17 (Reuters) - The heads of NATO and the European Commission flew on Friday to a North Sea platform to discuss the security of supplies and infrastructure, a visit underlining Norway's importance for gas shipments since Russia's invasion of Ukraine. The Troll A platform extracts gas from Norway's biggest gas field. After a drop in Russian flows, the Nordic country last year became the largest gas supplier to the EU. The field accounts for one third of daily Norwegian gas exports to Europe.

☆ Snam CEO: Italy's gas storage will pave the way for European energy security next winter
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnam CEO: Italy's gas storage will pave the way for European energy security next winterCEO of Italian energy giant SNAM Stefano Venier discusses the future of LNG terminals and Italy's role in helping Europe attain energy security amid the ongoing Russian war in Ukraine.

☆ EU power rejig may only solve tomorrow’s problem
▼ + stars: | 2023-03-14 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

That would have risked stifling green electricity production, which is cheaper, by culling the profit margin producers by design enjoy in the EU structure. To make Europe less dependent on volatile fossil fuel prices requires installing more green energy power. The approach is not as market-friendly as fixed-price, subsidy-free power purchase agreements, which last year only made up 1% of total power generation. The risk of a resurgence of the European energy crisis, however, is all skewed to the near term. PPAs currently only cover 1% of total European Union electricity generation, according to data provider Independent Commodity Intelligence Services.

☆ The CIO of Morningstar Wealth's Americas unit explains why investors focused on the next recession are missing the point — and shares the market areas to buy now for profits in any economy
▼ + stars: | 2023-03-13 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

Marta Norton believes that investors hyper-focused on the next recession are missing the point. A glance at the current US economy certainly doesn't paint a very rosy picture for investors. "Very long term return prospects across equities and fixed income are better today than they were a year ago, but markets still aren't priced to really attractive levels," she added. Globally, Norton is also bullish on the communication services due to the sector's attractive valuations and diversification benefits, since some companies have both value and growth characteristics. Norton is also overweight healthcare and consumer staples, two defensive sectors that are more resilient to market volatility and earnings declines.

☆ Nord Stream Mystery Looms in Multibillion-Dollar Arbitration Cases Against Russia
▼ + stars: | 2023-03-12 | by ( Georgi Kantchev | ) www.wsj.com time to read: 1 min

Officials say they increasingly believe that neither Russian-government nor pro-Russian operatives were behind the Nord Stream blasts. BERLIN—Untangling the mystery of who carried out the Nord Stream pipelines blasts could become a major factor in multibillion-dollar arbitration proceedings that European energy companies have filed against Russian state-run gas giant Gazprom PJSC. Investigators in Europe are scrambling to figure out who ordered the apparent act of sabotage. U.S. officials said this week they were probing the possibility that a pro-Ukrainian group was responsible for the blasts. Officials on both sides of the Atlantic have said they increasingly believe that neither Russian-government nor pro-Russian operatives were behind the sabotage, while cautioning it was too early to designate a culprit.

HOUSTON, March 8 (Reuters) - Billions of dollars in clean energy incentives are poised to speed investment on American soil while putting the European Union's energy transition at risk by luring away money and talent, executives at the CERAWeek energy conference said this week. European energy companies echoed the call for Europe to come up with its own new incentives. Patrick Pouyanne, CEO of French energy giant TotalEnergies told the conference the IRA was an "invitation to accelerate green infrastructure." In Europe, you begin to regulate," he said, adding that Europe and the United States should consider forming a free trade agreement on renewable energy infrastructure. Ken Gilmartin, CEO of British engineering firm Wood Plc, said the IRA would put the United States in first place in the decarbonization race.

REUTERS/Toby MelvilleLONDON, Feb 27 (Reuters) - British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but it will offer little relief to consumers as costs continue to rise. The cap sets a maximum price suppliers can charge consumers for each kilowatt hour (kWh) of energy they use, but it has been superseded by a government-backed energy price guarantee (EPG) that limits the maximum costs of energy. "Although wholesale prices have fallen, the price cap has not yet fallen below the planned level of the Energy Price Guarantee. If wholesale prices continue to fall, the price cap could be lowered again in July, potentially reducing bills, the regulator said. British Gas owner Centrica (CNA.L) this month posted record annual profit of 3.3 billion pounds on soaring energy prices and production.

☆ Halftime traders are bullish on these energy names, including two that could be a buying opportunity on earnings
▼ + stars: | 2023-02-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Energy stocks may be lagging the market, but don't count them out just yet, according to "Halftime Report" traders. The Energy Select Sector SPDR Fund gained a whopping 57.6% in 2022, compared with the S & P 500 's 19.4% drop. XLE YTD mountain Energy Select Sector SPDR Fund YTD performance However, he still advocates an overweight exposure to the energy sector. Sarat Sethi, portfolio manager at Douglas C. Lane & Associates, is also slightly overweight in energy and sees a potential buying opportunity. "Generally speaking, European energy trades much cheaper to US energy for a variety of historical reasons that I think are no longer relevant," she said.

☆ European shares flat as Telecom Italia drags eurozone stocks
▼ + stars: | 2023-02-20 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

The pan-European STOXX 600 index (.STOXX) was flat after opening marginally higher. That also boosted oil prices, lifting European energy stocks (.SXEP) by 0.3%. The EURO STOXX index (.STOXXE), which houses major companies in the eurozone, dipped 0.1%. Telecom Italia (TIM)(TLIT.MI) shares dropped 3% as a government-sponsored offer rivalling KKR's bid for the former phone monopoly's prized grid failed to materialise over the weekend. The European autos and auto parts sector index (.SXAP) rose 0.6%.

☆ Trade tensions seen hanging over U.S. firms' caution over China
▼ + stars: | 2023-02-20 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

U.S. and European multinational firms are getting more cautious about their capital investments in China due to geopolitical concerns, according to a risk consultancy. Richard Martin, managing director of IMA Asia, said the ongoing U.S. trade tensions with China is the main reason for the investment caution shown by American companies. As for European firms, Martin noted, its Russia's invasion of Ukraine that has led to concerns over Beijing. Even at 3% or 4% growth, China will add more dollar value in the next five years than the United States. "Even at 3% or 4% growth, China will add more dollar value in the next five years than the United States.

☆ What Wall Street is expecting from Shell, TotalEnergies and BP earnings
▼ + stars: | 2023-02-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

On Thursday, Europe's largest energy company Shell is due to report earnings. Britain's BP and France's TotalEnergies are also due to report the following week. It comes after Exxon , the biggest oil & gas company in North America, posted earnings and revenue that beat analyst expectations Tuesday. Here's what analysts are expecting from Shell, TotalEnergies and BP: Shell, Feb. 2 JP Morgan — Overweight, price target £29.50 ($36.29) (25% upside) Analysts led by Christyan F Malek said improved trading at Shell's integrated gas unit was a "key" data point for investors in the fourth quarter. Morningstar – price target £5.5 (13.6% upside) Analyst Allen Good said BP had weathered a big hit to earnings due to the write-off of its Russian investments in state-owned Rosfnet.

☆ RBC: The upside case on Chevron could be the base case depending on the speed of the buyback program
▼ + stars: | 2023-01-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC: The upside case on Chevron could be the base case depending on the speed of the buyback programBiraj Borkhataria, head of European energy research at RBC Capital Markets, says oil companies like Chevron and ExxonMobil are doing what shareholders are asking them to: be disciplined, don't chase high prices and stick to their plan.

☆ Chatterjee: U.S. LNG is so important to the European energy equation
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChatterjee: U.S. LNG is so important to the European energy equationFormer FERC chairman Neil Chatterjee discusses whether Europe is really out of the woods with its energy crisis, and why nuclear power isn't being considered more as a feasible alternative to oil, gas and coal.

☆ Shell considers exiting UK, German, Dutch energy retail businesses
▼ + stars: | 2023-01-26 | by ( Ron Bousso | ) www.reuters.com time to read: +1 min

Companies Shell PLC FollowLONDON, Jan 26 (Reuters) - Shell (SHEL.L) has launched a strategic review of its home energy retail businesses in Britain, the Netherlands and Germany in the wake of "tough market conditions", it said on Thursday. European energy suppliers have struggled over the past year with soaring wholesale prices and efforts by governments to shield consumers from rising bills. No decision has been taken yet on the future of the businesses, Shell said. Shell injected nearly $1.5 billion in cash and credit into its British energy retail business in 2022 to help it weather huge volatility in power prices that caused the collapse of several rival UK utilities. Shell said its wholesale and business-to-business (B2B) energy supply businesses are not part of the strategic review, and neither are its home energy supply businesses in the United States and Australia.

☆ The Nord Stream pipeline attack shows what Russia can do, Western officials say, even if they can't prove Russia did it
▼ + stars: | 2023-01-23 | by ( Christopher Woody | ) www.businessinsider.com time to read: +6 min

After months of investigation, Western officials can't prove Russia blew up the Nord Stream pipelines. While they can't name Russia as the culprit, officials say the attacks illustrate what Russia can do. The vulnerability of undersea infrastructure, like pipelines and data cables, is a growing concern. Four months on, investigators are unable to prove Moscow was behind the attack, but officials say the explosions illustrate the threat malign actors — especially Russia — pose to vital undersea infrastructure. Despite the uncertainty, the attack has only added to concern about threats to undersea infrastructure, particularly cables and pipelines, that connects continents and powers economies.

☆ Italy's foreign minister eyes migration, energy on trip to Cairo
▼ + stars: | 2023-01-22 | by ( Aidan Lewis | ) www.reuters.com time to read: +2 min

[1/2] Italy's Foreign Minister Antonio Tajani attends a European Union foreign ministers' meeting with their counterparts from 'Eastern Partnership' countries in Brussels, Belgium December 12, 2022. REUTERS/Johanna GeronCAIRO, Jan 22 (Reuters) - Italy's Foreign Minister said on Sunday his country saw Egypt as an important partner in stemming irregular migration across the Mediterranean and in bolstering its energy security. As part of efforts to tackle irregular migration, Italy was "ready to have more legal migrants, including those coming from Egypt", Foreign Minister Antonio Tajani said during a trip to Cairo. "The solution to the Libyan problem is also part of the solution of the illegal immigration problem," said Tajani. Italy aspires to be a big European energy hub and on this point there can be convergence with Egypt," he said.

☆ This asset class is outperforming U.S. stocks in 2023, and you may be missing out
▼ + stars: | 2023-01-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

It's a continuation of a relatively strong 2022 in which foreign stocks shed 14.5% compared with an 18% loss for U.S. names . "International stocks are set up quite well," says Ross Mayfield, an investment strategy analyst at Baird Private Wealth Management. Investing experts point to a handful of factors that have boosted the performance of international stocks of late. "Now that it's come back down, it's relieved a lot of the pressure on international stocks." "The sector mix for international stocks is more compatible with the economy we've seen," says Mayfield.

☆ Snam rethink reflects Europe’s new energy reality
▼ + stars: | 2023-01-19 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Jan 19 (Reuters Breakingviews) - Snam’s (SRG.MI) new business priorities highlight Europe’s revised energy needs. Indeed, Snam is reducing its investments in green projects like hydrogen and biomethane to 1 billion euros from 1.3 billion euros under the previous plan. That’s a 23% increase from the 8.1 billion euros unveiled under its previous 2021 to 2025 strategic plan. This compares with 1.3 billion euros under the previous plan. Snam said it targeted EBITDA growth of around 7% a year on average despite rising interest rates, up from 4.5% in the previous plan.

☆ Energy startups touting everything from solar-powered cars to next-gen nuclear reactors are red hot right now. Here are 32 to watch in 2023, according to VCs.
▼ + stars: | 2023-01-18 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +2 min

Russia's invasion of Ukraine thrust energy companies into the spotlight in 2022. We asked European investors to name energy startups poised to take off in 2023. European energy companies raised a record $3 billion in 2022, a marked increase on the $1.96 billion secured in 2021, according to PitchBook. Insider asked investors which European startups were ones to watch in 2023. Here are the 32 companies investors named, in alphabetical order.

☆ Exclusive: Harbour Energy to cut jobs due to UK windfall tax
▼ + stars: | 2023-01-18 | by ( Ron Bousso | ) www.reuters.com time to read: +3 min

The jobs would be cut in Harbour Energy's headquarters in the North Sea hub of Aberdeen, Scotland, but the extent of the cuts is yet to be determined and will be subject to consultations. Harbour Energy Plc has 1,700 employees worldwide, according to its website. Executives in North Sea companies have urged the British government to introduce a price floor to mitigate the impact of the windfall tax as firms struggle to access new funding. Industry group OEUK said in response to Harbour's announcement that the windfall tax will further undercut spending. Companies including Shell Plc (SHEL.L) and Equinor ASA (EQNR.OL) have already said they will review their North Sea investments.

☆ European energy firm OMV says it is able to supply 100% of customer orders with non-Russian gas
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean energy firm OMV says it is able to supply 100% of customer orders with non-Russian gaswefAlfred Stern, CEO of Austrian energy firm OMV, discusses gas supply security and the importance of the diversification of energy sources.

☆ Russia risks becoming a failed state in the next 10 years, analysts say
▼ + stars: | 2023-01-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Russia as we know it may not survive the coming decade and risks becoming a failed state as it pursues its costly war in Ukraine, according to a survey of global strategists and analysts. Respondents comprised primarily men and workers in the private sector, academia, non-profit organizations, as well as independent consultants or freelancers. Around 46% of survey respondents expected Russia to become a failed state or break up by 2033. Separately, roughly 40%of respondents expected Russia "to break up internally for reasons including but not limited to revolution, civil war, or political disintegration." Ukraine's allies have called for Russia to foot the bill for Ukraine's reconstruction.

☆ ‘The reshoring craze is real’ — These companies should benefit, experts say
▼ + stars: | 2022-12-23 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

A lot has been said about reshoring, as companies look to bring manufacturing back to their home countries, particularly the U.S. Reshoring is essentially companies returning operations to their original country from overseas. "The reshoring craze is real, especially as you continue to hear more and more about this general theme of deglobalization," he said. "They sell into the construction of the factory, they sell into the equipment of the factory, the automation of the factory." The company's equipment is needed for big semiconductor manufacturing plants as companies test chips as they are produced, Snyder said.

Companies could also move their gas trading off energy exchanges, where the EU price cap will apply, and instead conduct private transactions. The EU cap will not initially cover these "over-the-counter" (OTC) trades, although the bloc will review next year if they should be included. The EU price cap applies to EU hubs, but not those outside the bloc, such as Britain's National Balancing Point (NBP) trading hub. Front-month TTF prices met the price level required to trigger the EU cap on about 40 days this year. EU gas demand dropped by 20% in August-November this year, compared with the five-year average for the same period, Eurostat said on Tuesday.

☆ The EU agreed to limit gas prices, but some analysts are skeptical
▼ + stars: | 2022-12-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Pipes run along a technical facility for compressing natural gas on the site of astora GmbH's Rehden natural gas storage facility, the largest in Western Europe. He flagged that it could disrupt the European energy market, risk security of supply and have wider financial implications. Analysts told CNBC that these conditions called into question the ability of the mechanism to limit energy price rises. Around 70% of liquefied natural gas (LNG) is tied up in long-term contracts, leaving 30% available on a spot basis. "As it stands, about 20% of Europe's electricity comes from natural gas, 10% comes from coal.

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