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Top related persons:
Jonathan Stubbs - 1 Berenberg - 1 Energean — - 1 Stubbs - 1 Toru Hanai - 1 MAIRE - 1 MTCM.MI - 1 ADNOC - 1
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Search resuls for: "Saipem"


7 mentions found


☆ Worried about lofty valuations? Berenberg names 5 top stocks in a 'cheap' sector
  + stars: | 2024-03-19 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +2 min
As concerns swirl about lofty valuations in the stock market and investors focus on AI companies, strategists at Berenberg see one sector as a relative bargain: energy. The global energy sector is trading around record low valuations relative to the broader market, according to the German investment bank. "The European energy sector has never been this cheap on trailing price/book multiples, both on an absolute and relative basis," the bank said. Aside from valuations, Berenberg also suggested that fundamentals support owning energy stocks. "Tight energy markets are likely to underpin oil prices and support an improving earnings backdrop for the energy sector," the Berenberg analyst said.
Persons: Jonathan Stubbs, Berenberg, Energean —, Stubbs Organizations: Mar, Shell, Harbour Energy Locations: TotalEnergies, U.S, Russia, Ukraine
☆ UAE's ADNOC awards $17 bln of contracts for gas project
  + stars: | 2023-10-05 | by ( ) www.reuters.com   time to read: +3 min
Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. Italian engineering group MAIRE (MTCM.MI) and energy services group Saipem (SPMI.MI) said in separate statements they had been awarded $8.7 billion and $4.1 billion contracts by ADNOC respectively for the project. MAIRE's onshore EPC contract is worth about $8.74 billion and includes CO2 and sulphur recovery and handling, ADNOC said. The Hail and Ghasha project will capture 1.5 million tonnes per year (mtpa) of CO2, which would raise ADNOC's committed investments for carbon capture capacity to almost 4 mtpa, the statement said. ADNOC - which in July brought forward its net zero carbon emissions target to 2045 - last week said it aimed to increase its carbon capture capacity to 10 mtpa by 2030.
Persons: Toru Hanai, MAIRE, MTCM.MI, ADNOC, Saipem, Saipem's, Al Kindy, Sultan al, Jaber, Yousef Saba, Clauda, Alberto Chiumento, Jan Harvey, Mark Potter Organizations: REUTERS, Rights, Abu Dhabi National Oil Company, ADNOC, National Petroleum Construction Company, Fertiglobe, United Arab Emirates, United, Thomson Locations: Gastech, Chiba, Japan, Rights DUBAI, Abu Dhabi, Saipem, UAE, United Nations, Dubai, Gdansk
☆ Factbox: Jefferies sees AI fuelling next wave of innovation in oil and gas sector
  + stars: | 2023-06-09 | by ( ) www.reuters.com   time to read: +2 min
June 9 (Reuters) - With AI rapidly becoming a buzzword across industries, oil and gas companies are exploring ways to use this technology to fuel innovation in the energy sector. Here are 10 predictions for future applications of AI in energy, according to brokerage Jefferies. In 2022, oil-field services firm Patterson-UTI (PTEN.O) CEO William A. Hendricks Jr said AI may allow one person to manage 4 rigs instead of one person per rig. MAXIMIZING RECOVERY RATESAI could help enhance oil recovery at brownfield sites, subject to declining production and higher operating costs. Italian oilfield services firm Saipem (SPMI.MI) is developing an AI tool to maximize well quality.
Persons: Jefferies, Patterson, William A, Hendricks Jr, Arshreet Singh Organizations: Shell, Akselos, Resources, Chevron, Thomson Locations: Swiss
☆ Saipem shares drop, group says cannot explain why
  + stars: | 2023-02-13 | by ( ) www.reuters.com   time to read: +1 min
MILAN, Feb 13 (Reuters) - Saipem (SPMI.MI) does not have any information explaining Monday's share movements, a spokesman for the Italian energy contractor said, after the stock closed down 5.7%. More than 10% of the share capital of the group was traded on the Milan stock exchange, according to Refinitiv data. In July a pool of lender bought Saipem's shares worth almost 600 million euros after a cash call fell short of the 2 billion euro target. BNP Paribas, Citigroup, Deutsche Bank, HSBC, Intesa Sanpaolo and UniCredit were the joint global coordinators of the Saipem issue. Reporting by Francesca Landini and Giancarlo Navach, editing by Gianluca Semeraro and Gavin JonesOur Standards: The Thomson Reuters Trust Principles.
☆ France's GTT ceases its activities in Russia
  + stars: | 2023-01-02 | by ( ) www.reuters.com   time to read: +1 min
Jan 2 (Reuters) - French engineering group Gaztransport & Technigaz (GTT) (GTT.PA) said on Monday it was stopping its activities in Russia after analysing the latest European sanction packages which include a ban on engineering services with Russian firms. Meanwhile, terms of GTT's exit from the Gravity Based Structure (GBS) projects with Saren B.V - a joint-venture between Renaissance Heavy Industries Russia and Saipem's (SPMI.MI) Russian subsidiary - are being finalised. "These elements will have a financial impact mainly from 2023," GTT said in a statement, adding that its order book would no longer include projects in Russia. GTT added that annual targets will exclude revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) generated by the last services in progress in Russia from 2023 onwards. ($1 = 0.9384 euros)Reporting by Dina Kartit, edited by Tomasz Janowski and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
☆ Analysis: Investors face dilemma as capital increases fill IPO void
  + stars: | 2022-12-06 | by ( Pablo Mayo Cerqueiro | Oliver Hirt | ) www.reuters.com   time to read: +4 min
"This is a test as to whether shareholders want to support a company they know well already," he said. In contrast with a drought of initial public offerings (IPO), EMEA companies have raised an overall 33.3 billion euros ($34.99 billion) through capital increases so far this year. Meanwhile, fund managers' cash holdings stand at a near 21-year peak, according to poll data from Bank of America. "However, the market could see more firms turn to shareholders for funding given the rising cost of debt and changing outlook," he added. ($1 = 0.9517 euros)Reporting by Pablo Mayo Cerqueiro and Oliver Hirt; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
☆ Tricky Monte Paschi cash call comes at high cost
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +2 min
The fees amount to some 15% of the 857 million euros banks and fund Algebris have agreed to backstop. The fees in Saipem’s (SPMI.MI) 2 billion euro rights issue amounted to less than 5% of the amount banks had agreed to mop up. Monte Paschi says investors have committed 37 million euros and others say they will take up more than 50% of the 900 million euro portion of the rights issue reserved for private investors. That implies the banks may get stuck with some 400 million euros of unsold stock in a worst case scenario. Register now for FREE unlimited access to Reuters.com RegisterFor Monte Paschi, the cost of the rights issue will cut some 15 basis points off its Tier 1 capital ratio target of 14.2% for 2024.
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