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☆ Repsol's profit beats forecasts, flags big spending increase
▼ + stars: | 2023-02-16 | by ( Inti Landauro | ) www.reuters.com time to read: +2 min

Its fourth-quarter profit surged to 2.01 billion euros ($2.15 billion) from 872 million a year earlier, topping the 1.75 billion euros expected by analysts polled by Refinitiv Eikon. Net income for 2022 jumped to 4.25 billion euros up from 2.5 billion euros in 2021. "Repsol plans to spend more than 5 billion euros in organic investments. Repsol used its higher cash flow to increase capital investment by 40% in 2022, reduce its net debt by 60% to 2.26 billion euros and increase shareholders' remuneration. Repsol's hefty profit follows similar reports from larger rivals TotalEnergies (TTEF.PA), BP (BP.L), Shell (SHEL.L), Exxon Mobil (XOM.N) and Chevron (CVX.N), prompting calls to further tax the sector as households struggle to pay energy bills.

☆ Buy these global clean energy stocks, UBS says, forecasting one to rise 50%
▼ + stars: | 2023-01-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Skyrocketing energy costs have spurred investment in renewable energy across the world. UBS said it brought online about 200 megawatts of solar energy plants last year, enough to power 100,000 homes. NextEra Energy , one of the world's largest wind energy generators, also made UBS' list. UBS said NextEra produces more than 35% of its 58-gigawatt power generation through wind and solar power. Shares of NextEra Energy Partners , a publicly traded subsidiary of NextEra Energy based in Florida, are also expected to rise by 28%.

☆ Chevron to send 500,000-barrel cargo of Venezuelan oil to its Pascagoula refinery
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

HOUSTON, Jan 3 (Reuters) - U.S. oil producer Chevron Corp (CVX.N) plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday. The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies. As of Tuesday, the tanker scheduled to carry the shipment, the Bahamas-flagged Caribbean Voyager, was waiting to load near Jose, Refinitiv Eikon data showed. Chevron declined to comment on Tuesday and PDVSA did not immediately reply to a request for comment. Washington had previously authorized Italy's Eni (ENI.MI) and Spain's Repsol (REP.MC) to recoup pending debts in Venezuela by taking Venezuelan crude for refining in Europe.

Exports also benefited from the restart of a PDVSA-Chevron crude upgrader at their Petropiar joint venture in the Orinoco Belt. Nearby, one of Petrolera Sinovensa's two crude blending plants operated by PDVSA and China National Petroleum Corporation (CNPC) also resumed work. Venezuelan PDVSA's crude processing facilities restarted operations after outages and a lack of diluents, leading to a sale increase in November. PDVSA also sent about 38,000 bpd of crude, fuel oil and gasoline blend stock to key political ally Cuba. Another Iran-flagged tanker in Venezuela, the Huge, is also expected to navigate back carrying fuel oil for NICO this month as part of an oil swap with PDVSA, according to the documents.

☆ BP doubles down on hydrogen as fuel of the future
▼ + stars: | 2022-12-05 | by ( Ron Bousso | ) www.reuters.com time to read: +6 min

[1/2] The BP logo is seen at a BP gas station in Manhattan, New York City, U.S., November 24, 2021. But grey hydrogen becomes "blue hydrogen" if the polluting emissions are captured. The IRA offers a $3 per kilogramme tax credit for clean hydrogen, which brings green hydrogen to par or even below the cost of grey and blue hydrogen, according to analysts. "With the hydrogen production tax credits that are now in place, it has ... allowed green hydrogen to be a lot more competitive," McLeod said. Subsidies will initially allow green and blue hydrogen to compete with grey hydrogen, allowing consumers to switch to cleaner fuel, McLeod said.

The United States on Saturday granted Chevron a six-month license to operate in Venezuela, reinstating oil trading privileges it had, while preventing exchanges of cash and requiring the crude cargoes go to U.S. refiners. Executives at Venezuelan state firm PDVSA initially welcomed the authorization for a partial return to the United States, once the country's most important market. In addition, European oil companies Eni (ENI.MI) and Repsol won U.S. approvals to take Venezuelan crude for debt repayment. Chevron's Venezuelan oil cargoes face potential seizures by creditors that have arbitration claims and court judgments, said trading experts and lawyers. Washington placed tight reins on the oil imports to win support from a Congress skeptical of deals with Maduro.

☆ BP wins contract to market Guyana's share of oil production
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Lee SmithNov 25 (Reuters) - BP Plc (BP.L) will market Guyana's share of crude oil produced over the next year from two offshore production platforms, the South American country's Ministry of Natural Resources said. The London-based oil company agreed to market the state's share produced from the Liza Destiny and Liza Unity platforms at no charge per barrel, according to a ministry statement on Thursday. Through mid-year, Guyana's share of oil production from the consortium composed of Exxon Mobil (XOM.N), CNOOC Ltd (0883.HK) and Hess Corp (HES.N) was worth $307 million. The group markets two crudes: a medium to light sweet oil called Liza, and an even lighter grade called Unity Gold. BP will market crude to refiners, provide benchmark and performance comparisons, and help the government understand the behavior and yields of the Liza blend, the ministry said.

HOUSTON, Nov 7 (Reuters) - A unit of Italian oil company Eni (ENI.MI) has been assigned two 1-million-barrel cargoes of Venezuelan diluted crude oil for November loading, according to a document from state-run PDVSA seen by Reuters on Monday. The cargoes mark the resumption of an oil-for-debt deal authorized by the U.S. government earlier this year as an exception to sanctions on Venezuela's oil sector. Eni plans to take the Venezuelan crude onboard the Suezmax tankers Africa and Gladiator. Africa was in Venezuelan waters on Monday waiting to load, while Gladiator is scheduled to depart from U.S. waters to Venezuela after discharging a previous cargo, according to Refinitiv Eikon vessel monitoring data. Between June and July, Eni received a total of 3.6 million barrels of DCO.

LNG prices have soared this year as Moscow progressively cut piped natural gas supplies to Europe, which heavily depended on Russian imports. Western sanctions on Russia, which is among the world's leading oil and gas producers, in response to its invasion of Ukraine in February, helped to drive European gas prices to an all-time high in August. The world's biggest LNG trader Shell missed some of the benefit of the price rise after a fall in production following strikes at Australia's Prelude site. Gearing at Shell, which is on track for a record year of profits, increased slightly to 20.3%. Spain's Repsol (REP.MC) on Thursday reported a doubling of its profit to 1.48 billion euros ($1.49 billion).

[1/5] An oil pump jack is seen in an oil field near Lake Maracaibo, in Cabimas, Venezuela October 14, 2022. "Among those remaining in the partnerships, few hope to ever recoup pending dividends or commercial debts from PDVSA." Since TotalEnergies and Equinor in 2021 exited one of Venezuela's flagship oil upgrading projects, Petrocedeno, smaller firms have followed. With companies and workers leaving almost en masse, the abandonment of oilfields is visible near Maracaibo Lake, among Venezuela's oldest producing region. Between 2019 and 2021, PDVSA delivered oil cargoes to partners to reduce outstanding debt.

☆ A recession looks increasingly likely. But Goldman Sachs says these stocks could beat the gloom
▼ + stars: | 2022-10-21 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Central banks are relentlessly hiking interest rates to rein in inflation — even at the expense of economic growth — prompting fears of a recession. "Concerns on sticky inflation and a tight labor market have focused investor attention on implications for rising rates and recession risk. Those stocks have high and expanding cash return on capital invested and return on equity, according to the bank. BlackRock says that's now an 'obsolete' strategy Investors keen to add growth names to their portfolio could also look to Goldman's list of high growth stocks. The bank also identified high growth names that are trading at an attractive valuation, including Watches of Switzerland and Standard Chartered .

☆ Spanish energy firm Everwood in talks to sell 6.1 GW solar assets portfolio - sources
▼ + stars: | 2022-10-20 | by ( Andres Gonzalez | ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters) - Spain-based renewable energy investor Everwood Capital has hired Bank of America to sell a portfolio of 6.1 gigawatts (GW) of solar power plants in Europe and Latin America, according to four sources with knowledge of the deal. Everwood expects to start receiving early offers for the projects, located in Spain, France, Italy, Germany, Colombia, Greece, Peru and Argentina, in two weeks. Appetite for low-carbon energy sources has taken on fresh urgency this year after Russia's invasion of Ukraine, with oil and gas companies setting ambitious green targets and jostling with utilities and existing renewables investors to lead the energy transition. Register now for FREE unlimited access to Reuters.com RegisterThe portfolio consists of 1.3 GW of solar photovoltaic projects in Spain and Italy and a development platform with 4.8 GW of solar pipeline and local teams in Spain, Italy, France, Germany and Latin America. The assets could be valued at up to 750 million euros ($735.15 million) depending on bidders' appetite, one of the sources said.

This figure compares with 1.1 million bpd of offline capacity in September, and is above the 2015-2019 average for this period. Maintenance outages next month include Eni's Sannazzaro refinery in Italy, Repsol's (REP.MC) Tarragona refinery in Spain, and Galp Energia's (GALP.LS) Sines refinery, among others. read more"The European diesel market is looking a bit softer than we had expected say this time last month," Gallarti said, adding that the consultancy has softened its European demand forecast as economic pressures mount. read moreBut while higher imports and a softening demand outlook are helping to ease the pressure on diesel markets, widespread refinery outages in France, partly due to strike action, could tighten supplies again. Benchmark European diesel profit margins hit a two-week high of about $50 a barrel on Wednesday, based on Reuters assessments, driven by the French strikes.

☆ Marc Marquez a revenit la antrenamente după ce a suferit o nouă intervenţie chirurgicală la braţul drept
▼ + stars: | 2021-01-21 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Pilotul spaniol Marc Marquez, de şase ori campion mondial la clasa MotoGP, a revenit la antrenamente după ce a suferit, în decembrie, o nouă intervenţie chirurgicală la braţul drept.Ibericul, în vârstă de 27 de ani, a postat o fotografie pe contul său de Instagram, în care apare pe o bicicletă medicinală într-o sală de gimnastică.Marquez a fost operat pentru a treia oară la braţul drept din cauza vindecării lente a osului humerus, pe care l-a fracturat în timpul Marelui Premiu al Spaniei în iulie 2020.Operaţia a constat în scoaterea plăcii anterioare şi montarea uneia noi. Atunci, pe 3 decembrie, reprezentații Repsol Honda au anunțat printr-un comunicat că progresele înregistrate de pilotul echipei lor după intervenția chirurgicală şi începerea tratamentului cu antibiotice au dat roade. El a fost externat pentru a continua recuperarea acasă.Honda speră ca Marquez să se recupereze până la prima cursă a sezonului din 2021, programată în Qatar, pe 28 martie.

Persons: Marc Marquez, Spaniei, Operaţia, Marquez Organizations: Honda Locations: Qatar

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