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☆ New York throws support behind offshore wind with three project awards
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

The announcement, which the state billed as the nation's largest ever investment in offshore wind, comes less than two weeks after New York regulators rejected requests by three offshore wind developers to renegotiate their contracts because of soaring costs. In response, Governor Kathy Hochul pledged to support renewable energy projects to meet the state's climate change goals. The Biden administration, which has made offshore wind development a cornerstone of its plan to decarbonize the nation's power grid, applauded the move. New York is also committing $300 million to the development of offshore wind component manufacturing facilities planned by GE Vernova (GE.N). New York Offshore Wind Alliance Director Fred Zalcman said the announcement "will go a long way towards instilling confidence in a market that has recently faced tremendous headwinds."

Persons: Kathy Hochul, France's TotalEnergies, Germany's, Hochul, Biden, John Podesta, Fred Zalcman, Nichola Groom, Bill Berkrot, Jonathan Oatis Organizations: New York, Denmark's, Denmark's Copenhagen Infrastructure Partners, White House, Power, Corio, Grid, Excelsior, GE Vernova, Offshore Wind Alliance, Thomson Locations: New, York, Denmark's Copenhagen, New York, America, RWE, . New

Speculation that Chevron and Exxon might try to buy rivals BP (BP.L) and Shell (SHEL.L) intensified over the last two years as the European majors underperformed their U.S. rivals. Investors punished the European companies for their pivot towards renewables and low carbon energy while rewarding the U.S. companies' focus on oil and gas production that drove record profits last year. The oil industry last went through an era of major consolidation in the late 1990s when Exxon, Shell, BP and France's TotalEnergies merged with rivals to create huge integrated companies. A senior industry source close to the issue, as well as analysts and investors dismissed any imminent U.S. purchase of European rivals. Some European investors have also campaigned for energy companies to shift their business models to help tackle climate change.

Persons: Hess, Dado Ruvic, Tyler Tebbs, Bernard Looney, Lucas Herrmann, Shell's, Exxon's, Ron Bousso, Simon Webb, Barbara Lewis Organizations: REUTERS, Chevron, Hess, LONDON, Exxon Mobil, Exxon, BP, Shell, Investors, France's, Natural Resources, MKP Advisors, BNP, Reuters, European, Thomson Locations: Ukraine, Chevron, U.S

☆ Technip Energies shares plunge after Le Monde report on Russian gas project
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

Oct 19 (Reuters) - Technip Energies (TE.PA) shares plummeted on Thursday after French newspaper Le Monde said the oil and gas company may have failed to comply with European Union sanctions against Russia by continuing to supply equipment to a Russian gas project. Technip Energies said in a statement after its shares fell as much as 22% that it had always respected international sanctions and its contractual obligations regarding the Arctic LNG2 project in Russia. "Technip Energies has worked with the relevant authorities and has complied with sanctions gradually imposed by the European Union, the United States and Britain," it said. The equipment delivered by Technip involved two modules for the construction of a liquefaction train worth around 450 million euros, Le Monde said, citing Russian customs records, maritime data and satellite images. "$800 million of market cap came off, it's a very harsh response, and suggests the news scared investors out there," said the analyst, who spoke on condition of anonymity, referring to the Le Monde story.

Persons: Le Monde, Monde, Technip, China's CNPC, Piotr Lipinski, Nathan Vifflin, Benjamin Mallet, Silvia Aloisi, David Evans Organizations: Union, Russia, European Union, Le, Japan, Mitsui & Co, Thomson Locations: Russian, Russia, United States, Britain, Paris, EU, Ukraine, Gdansk

☆ QatarEnergy, Shell agree 27-year LNG supply
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Two LNG sale and purchase agreements were signed between affiliates of QatarEnergy and Shell (SHEL.L), QatarEnergy said on Wednesday, in a deal that mirrors one reached with TotalEnergies last week. Qatari LNG from the massive North Field LNG production expansion project will be delivered to Gate LNG terminal at the Port of Rotterdam beginning in 2026. Shell holds a 6.25% stake in the North Field East project and a 9.375% share in the North Field South project. The deal follows an identical one between QatarEnergy and TotalEnergies last week, until then Qatar's biggest and longest gas supply deal with Europe. QatarEnergy has signed deals to supply LNG from the expansion to Asian buyers over the past year in China and elsewhere.

Persons: Chris Helgren, QatarEnergy, Shell, TotalEnergies, China's Sinopec, Saad al, Kaabi, Yousef Saba, Lincoln Organizations: Shell, REUTERS, Rights, TotalEnergies, LNG, Field, Port, China National Petroleum Corporation, Thomson Locations: Vancouver , British Columbia, Canada, Rights DUBAI, Qatar, Europe, Netherlands, Rotterdam, QatarEnergy, Asia, China, Ukraine

☆ Goldman Sachs lifts Europe Inc's 2023 profit growth forecast to 3%
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. According to Goldman Sachs, higher oil prices will feed into higher revenues, benefiting commodity-related sectors — for which analysts at the brokerage expect positive earnings upgrades. Shares of European oil majors BP (BP.L), Shell (SHEL.L) and TotalEnergies (TTEF.PA) have gained between 4.5% and 7% since the conflict began. Adjusting for inflation, however, Goldman Sachs expects earnings in Europe to fall 2% this year. Through 2025, Goldman expects European and U.S. companies' profits to grow at 5% annually from current levels, but only 2% in real terms for Europe in the same period.

Persons: Goldman Sachs, Andrew Kelly, Brent, Lilia Peytavin, Goldman, Roshan Abraham, Susan Mathew, Shilpi Majumdar Organizations: New York Stock Exchange, REUTERS, Brent, East, BP, Shell, European, Thomson Locations: New York City , New York, U.S, Europe, Bengaluru

CNN —Greta Thunberg was arrested at a protest outside an oil and gas conference – formerly known as the “Oil and Money” conference – at a luxury five-star hotel in London on Tuesday, eyewitnesses told CNN. But it wouldn’t confirm to CNN that Thunberg was among those arrested. Thunberg and other protestors blocked entrances at the hotel, trying to prevent delegates from entering. We are choking from their fumes.”Greta Thunberg joined protesters during the demonstration which used the slogan: "Oily Money Out." Tuesday’s protest marks the first of three days of action aimed at shutting down the conference, Greenpeace said

Persons: Greta Thunberg, Thunberg, Henry Nicholls, “, ” Organizations: CNN, Money, London’s Metropolitan Police, Intercontinental, Energy Intelligence Forum, Aramco, Free, Getty, Greenpeace Locations: London, London’s Park, Shell, Free London, greenwashing, AFP, Swedish, Malmö, Sweden

☆ US oil production just hit an all-time high. 'Millions of people will die,' if this trend continues, a Stanford climate scientist said.
▼ + stars: | 2023-10-17 | by ( Seth Borenstein | Associated Press | ) www.businessinsider.com time to read: +6 min

US oil production reached an all-time high last week at 13.2 million barrels per day. If this trend continues, "millions of people will die," Stanford climate scientist Rob Jackson said. And it conflicts with oft-repeated Republican talking points of a Biden "war on American energy." Weekly domestic oil production has doubled from the first week in October 2012 to now. US oil production reached an all time high recently.

Persons: Biden, Rob Jackson, Bill Hare, Hare, John Sterman, Jackson, Samantha Gross, Gross, Stanford's Jackson, Joe Biden, Susan Walsh Biden's, Jared Bernstein, Bernstein, They've, Joshua Boak Organizations: Service, United, Biden, U.S . Department of Energy's Energy, Administration, United Nations, United Arab Emirates, Exxon, Mobil, Cote d'Ivorie, Climate Interactive, Stanford University, Carbon, White, Brookings Institution, Energy, EIA, AP, American Energy, Republican, House Energy, Commerce, White House Council, Economic Advisers, Wildlife Locations: Stanford, United States, Norway, Australia, United Kingdom, Canada, France, Shell, Guyana, Cote, Saudi Arabia, Alaska, Washington ,

☆ As oil prices rise, these global stocks are set to outperform: Bank of America
▼ + stars: | 2023-10-17 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

The ongoing conflict between Israel and Hamas has seen oil prices jump as investors consider the risk of wider geopolitical issues across the Middle East. These rising prices will benefit a number of stocks, according to Paulina Strzelinska, quant strategist at Bank of America. Outperformers when natural gas prices rise In a separate screen, Bank of America revealed its list of companies that tend to outperform when natural gas prices rise. Equinor is listed on both the Oslo Stock Exchange and Nasdaq, while Rio Tinto is listed on the London Stock Exchange and Australian Securities Exchange. Meanwhile Anglo American has a dual listing on the London Stock Exchange and Johannesburg Stock Exchange.

Persons: Paulina Strzelinska, Brent, Duncan Wanbald, — CNBC's Michael Bloom, Sam Meredith Organizations: Hamas, Bank of America, Bank, Boliden, Royce, Aegon, Galp Energia, Wolters Kluwer, London Stock Exchange, Oslo Stock Exchange, Nasdaq, Rio Tinto, Australian Securities Exchange, Johannesburg Stock Exchange, Reuters Locations: Israel, Europe, Antofagasta, Spanish, Portuguese, Dutch, Rio Tinto, Rio, American, Johannesburg

United States domestic oil production hit an all-time high last week, contrasting with efforts to slice heat-trapping carbon emissions by the Biden administration and world leaders. Weekly domestic oil production has doubled from the first week in October 2012 to now. White House officials have long considered increased oil production inside the United States as a bridge to help soften the transition to renewable energy sources. She said U.S. oil is less carbon-intensive than other oil, an argument the UAE’s oil company also makes. “Demand drives production — we need to change the whole system to reduce oil demand.”“Replacing oil in power production is a lot easier than replacing oil in transportation,” Gross said in an email.

Persons: Biden, Bill Hare, Hare, ”, John Sterman, Rob Jackson, “, ” Jackson, Samantha Gross, ” Gross, ” Stanford’s Jackson, ” Jared Bernstein, ” Bernstein, “ They’ve, They’ve, Joshua Boak, ___ Read, Seth Borenstein Organizations: Biden, U.S . Department of Energy’s Energy, Administration, United Nations, United Arab Emirates, Exxon, Mobil, Cote d’Ivorie, Interactive, ” Stanford University, Carbon, White, Brookings Institution, Energy, EIA, Republican, House Energy, Commerce, American Energy, White House Council, Economic Advisers, Wildlife, Associated Press, Washington , D.C, Twitter, AP Locations: U.S, Norway, Australia, United Kingdom, Canada, France, Shell, Guyana, Cote, United States, Saudi Arabia, Alaska, Washington ,

DUBAI, Oct 9 (Reuters) - The United Arab Emirates is refashioning state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximise earnings for the Gulf state. The state-owned company also told Reuters it was investing in energy trading, without giving further details. ADNOC has two trading arms, both set up in 2020: ADNOC Trading, which is focused on crude oil, and ADNOC Global Trading, a joint venture with Italy's Eni (ENI.MI) and OMV which is more focused on refined products. Other recent hires include Bart Cornelissen, who left Deloitte to become ADNOC's senior vice president for group strategy and portfolio last month, according to LinkedIn. Recent senior hires for ADNOC's trading arms include alumni of Gunvor, Litasco, Shell and TotalEnergies, the employment network showed.

Persons: ADNOC, Galp, Austria's, Mohammed bin Zayed, headcount, Michele Fiorentino, Baker Hughes, Musabbeh Al Kaabi, Al Kaabi, Bart Cornelissen, Michael Hafner, Hafner, Morgan Stanley, Neil Quilliam, Sultan al, Jaber, John Kerry, Abu, Maha El Dahan, Yousef Saba, Ron Bousso, David Clarke Organizations: United, Abu, Abu Dhabi National Oil Company, Reuters, BP, NewMed Energy, Italy's Eni, UAE, IOC, Aramco, LinkedIn, Mubadala Energy, Deloitte, Greenhill &, Deutsche Bank, UBS, HSBC, Shell, Eni, Gunvor, The, Chatham House, United Nations, Masdar, Thomson Locations: DUBAI, United Arab Emirates, Abu Dhabi, Gulf, Saudi Arabia, Qatar, UAE, Africa, Mozambique, ADNOC, Geneva, London, The UAE, Europe, Sultan, Dubai

☆ Veteran investor says one type of energy company is 'extremely attractive' — naming a stock he likes
▼ + stars: | 2023-10-05 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

The commodities market is a "much more constructive place to invest" right now — and "integrated" names in the energy sector in particular are "extremely attractive," according to one portfolio manager. For now, Dunn said, he is "certainly concerned about and paying attention to the U.S. onshore shale era," when evaluating what equities to invest in. Integrated energy companies typically engage in the exploration, production, refinement, and distribution of oil and gas. "It's a U.S. company, but they have a lot of assets outside the U.S. and they have been investing outside the U.S.," he said. 'Uncover interesting equities' While the ongoing pullback in the U.S. stock market presents concerns on what stocks to invest in, Dunn said it can help "uncover very interesting equities."

Persons: Aaron Dunn, CNBC's, Dunn, they're, TotalEnergies, Stocks Organizations: Morgan Stanley Investment Management, ExxonMobil, Chevron, BP, ConocoPhillips, Constellation Brands, BJ's Wholesale Locations: U.S, British, Netherlands, Qatar, Australia

☆ ‘We are not in the business of ice cream’: Big Oil CEOs defend themselves against climate criticism
▼ + stars: | 2023-10-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Executives representing energy majors in the U.S., Europe and Asia speak during a CNBC-moderated panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates. "So, the debate has always been posed here, I'm reminded of an old saying: 'If you want to keep everyone happy, sell ice cream.' We are not in the business of ice cream — and I'm reminded, there are people who are lactose intolerant," Taufik said. "In mitigating climate change, there is also the opportunity to continue to produce oil for our energy security. Wael Sawan, chief executive officer of Shell Plc, speaks during a panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates.

Persons: We've, Tengku Muhammad Taufik, I'm, Taufik, Vicki Hollub, Oxy, Hollub, Patrick Pouyanne, Pouyanne, Wael Sawan Organizations: CNBC, Abu, Abu Dhabi International Petroleum Exhibition, United, United Arab Emirates, Bloomberg, Getty Images, Monday, Big Oil, Amnesty, Petronas, Shell Plc, Getty Locations: U.S, Europe, Asia, Abu Dhabi, United Arab, Paris

☆ We need to produce oil and gas differently, TotalEnergies CEO says
▼ + stars: | 2023-10-02 | 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 EmailWe need to produce oil and gas differently, TotalEnergies CEO saysPatrick Pouyanne, TotalEnergies CEO, discusses how the oil industry is dealing with the energy transition.

Persons: Patrick Pouyanne

We are growing but nowhere near fast enough," said Ben Blackwell, CEO of the Global Wind Energy Council. In June, Siemens Gamesa said quality problems at its two most recent onshore wind turbines would cost 1.6 billion euros ($1.7 billion) to fix. "The ratio between risk and reward is out of line in the offshore wind market in many jurisdictions. You can see this from investors not showing up," the Global Wind Energy Council's Blackwell told Reuters. "The situation in U.S. offshore wind is severe," Orsted CEO Mads Nipper said last month.

Persons: Pascal, Jon Wallace, WindEurope, Markus Krebber, Germany's, Ben Blackwell, Rob West, Siemens Gamesa, Fraser McLachlan, McLachlan, Jochen Eickholt, Wallace, Energy Council's Blackwell, Denmark's Orsted, RWE's Krebber, Joe Biden's, Mads Nipper, Nina Chestney, Nichola Groom, Christoph Steitz, Nora Buli, Francesca Landini, Toby Sterling, David Clarke Organizations: REUTERS, Rights, European, Jupiter Asset Management, EU, Shell, Siemens, LinkedIn, Wind Energy, Thunder Said Energy, GCube Insurance, Bloomberg New Energy Finance, Energy, Reuters, European Commission, Thomson Locations: Le Havre, Normandy, France, European Union, Britain, Netherlands, Norway, Ukraine, Jupiter, U.S, Los Angeles, Frankfurt, Milan, Amsterdam

Sept 28 (Reuters) - U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered so far. The companies have transferred their stakes in the block to Ratio Guyana Limited and Cataleya Energy Limited, which originally held the exploration licenses, Exxon said. A consortium composed of Exxon, Hess and CNOOC Ltd (0883.HK) control all offshore production in Guyana through the Stabroek block. Exxon and Hess were among oil companies that submitted bids in an auction for 14 other oil and gas exploration blocks.

Persons: Exxon, Hess, Kiana Wilburg, Sabrina Valle, Chris Reese, Leslie Adler Organizations: Exxon Mobil, Hess Corp, Exxon, Guyana, Cataleya Energy, Hess, CNOOC Ltd, Qatar Energy, Thomson Locations: deepwaters, HK, Guyana, Stabroek, Georgetown, Houston

☆ TotalEnergies says will pay more to shareholders as oil, gas output rises
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

The logo of French oil and gas company TotalEnergies is seen at the company's headquarters skyscraper in the financial and business district of La Defense, near Paris, France September 14, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Sept 27 (Reuters) - French energy goup TotalEnergies (TTEF.PA) said on Wednesday that it would increase returns to shareholders and planned to raise its oil and gas production by 2 to 3% per year over the next five years. The group said at an investor day that it expects to distribute about 44% of its cash flow to shareholders in 2023 and set a target of more than 40% beyond 2023. TotalEnergies also announced positive results at an exploration well in Namibia, to be confirmed by another flow test, and said further appraisal wells and prospects would be drilled. Analysts had said they were particularly keen to hear more about the French energy group's recent exploration activity offshore Namibia - which has no oil and gas output now but could become one of the top 15 oil producers by 2035.

Persons: Gonzalo Fuentes, TotalEnergies, Benjamin Mallet, Forrest Crellin, Sudip Kar, Gupta, Ingrid Melander, Emelia Sithole Organizations: La Defense, REUTERS, Rights, Thomson Locations: La, Paris, France, Namibia

Retail fuel prices in the U.S. and Europe have risen to multi-month highs as crude prices have rallied. "If energy prices increase and stay high, that'll have an effect on spending, and it may have an effect on consumer expectations for inflation, things like that. High interest rates are already curbing demand across Western economies, including for oil. The U.S. Federal Reserve on Wednesday pressed pause on interest rates, but did not rule out one more hike this year. President Joe Biden has already promised to cut prices, though has not said how, and in the short term the impact of autumn refinery maintenance on supplies could keep prices high.

Persons: Mike Segar, Brent, Jerome Powell, Morgan Stanley, Goldman Sachs, Goldman, PVM's Tamas Varga, I'm, Craig Erlam, Ajay Parmar, Joe Biden, Gordon Balmer, Natalie Grover, Robert Harvey, Mark John, Balazs Koranyi, Dan Burns, Simon Webb, Barbara Lewis Organizations: Exxon, REUTERS, . West Texas Intermediate, Reuters, Retail, Federal, International Energy Agency, Organization of, Petroleum, U.S . Federal Reserve, HSBC, Energy Information Administration, U.S, Diesel, Energy, Petrol Retailers, Thomson Locations: Edgewater , New Jersey, U.S, OPEC, Europe, Brazil, Guyana, United States, Russia, Saudi Arabia, Ukraine, Britain, France, London, Frankfurt, New York

☆ Looking for value stocks? Citi lists over 10 European names — for risk-takers and the cautious
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

European value stocks are doing better than growth stocks right now, according to Citi analysts. Citi defined "quality" value stocks as those in the top fifth and fourth quintiles for three characteristics: value, low risk and quality. Citi said investors "have not been particularly risk-averse," as risky value stocks are up 8.6%, while quality value stocks are down 0.3% in the year to date. Nevertheless, the bank noted that investors appear to have been more cautious since the start of August, as quality value stocks are up 4.6%, while risky value stocks are down 0.6%. 'Risky value' stocks For this screen, Citi looked for stocks that scored in the seventh or above decile for value and those in the fifth or below decile for "value low risk" and quality.

Persons: TotalEnergies, Moller Maersk, — CNBC's Michael Bloom Organizations: Citi, HSBC Holdings, Zurich Insurance Group, ABN AMRO, Imperial Brands, Nokia, BNP, BMW, Bayer, Life, WPP PLC Locations: European, China, Dutch, Danish

☆ Total’s green bet on Gautam Adani is a win-win
▼ + stars: | 2023-09-21 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

On Tuesday, the company said it would invest $300 million to form a joint venture with $19 billion Adani Green Energy (ADNA.NS) to build solar and wind farms in the country. The latest tie-up ought to help Total to hit its target of having 100 gigawatts of renewable energy capacity by 2030. Adani Green Energy and Adani Total Gas (ADAG.NS), in which Total owned stakes of about 20% and 37% at the end of June, have lost about 50% and 80% of their market value since January, and are among the worst performing of the group’s nine core listed entities. Total’s green capacity targets may be more pressing than the risk of further Adani problems. Adani Green will contribute assets to the joint venture, it said in a statement, adding that the deal will help it achieve its target of having 45 gigawatts of renewable energy capacity by 2030.

Persons: Gautam Adani, Carmichael, Hindenburg, Patrick Pouyanné, Adani, Una Galani, Katrina Hamlin Organizations: Reuters, Adani Enterprises, Adani, Green Energy, Australia, GQG, Barclays, Deutsche Bank, Energy, Thomson Locations: Indian, Ahmedabad, Queensland, BENGALURU, –, India

☆ France to let fuel retailers sell below cost in inflation fight, prime minister says
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

PARIS, Sept 16 (Reuters) - The French government plans to temporarily lift a ban on retailers selling road fuel below cost as part of efforts to stem inflationary pressures on households, Prime Minister Elisabeth Borne told newspaper Le Parisien. A renewed surge in pump prices this summer has complicated the government's attempts to curb consumer inflation, with ministers calling on fuel and food industries to cut their margins. TotalEnergies (TTEF.PA) has extended a cap on fuel prices past the end of the year while some supermarket chains have held promotions to sell petrol at cost. "With this unprecedented measure, we will obtain tangible results for the French people, without subsidising fuel," she said in an interview published on Saturday. Regarding food prices, Borne told Le Parisien that companies from November would be required to indicate on labels when they modify the size of a product.

Persons: Elisabeth Borne, Le, Borne, Bruno Le Maire, Le Parisien, Gus Trompiz, Camille Raynaud, Jason Neely Organizations: Finance, Carrefour, Thomson

☆ France's Total in talks to invest in Adani Green's projects - Bloomberg News
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsSept 14 (Reuters) - French oil major TotalEnergies (TTEF.PA) is in talks to invest in renewable energy projects developed by India's Adani Green Energy (ADNA.NS) as part of its clean energy push, Bloomberg News reported on Friday, citing unnamed sources. Total could invest about $700 million in the projects, the report said, citing one source. The Adani Group has denied wrongdoing. Adani Green shares were up 0.5% on Friday. Adani Green had in July said it approved raising 123 billion rupees through a qualified institutional placement.

Persons: Gonzalo Fuentes, India's, Adani, Gautam Adani's, Hindenburg, Adani Green, Evelyn Nikhila S, Ganesh, Mrigank Organizations: La Defense, REUTERS, Energy, Bloomberg, Adani, Thomson Locations: La, Paris, France, Bengaluru

☆ Volvo to start production of electric trucks at Ghent factory
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: 1 min

Exploration & Production category · September 13, 2023Guyana on Wednesday received bids for eight of 14 offshore oil and gas exploration blocks offered in its first auction, including from groups formed by Exxon Mobil and TotalEnergies , according to the government and documents seen by Reuters.

Organizations: Wednesday, Exxon Mobil, TotalEnergies, Reuters Locations: Guyana

[1/2] Logo of British Petrol BP is seen at a petrol station in Pienkow, Poland, June 8, 2022. BP plans to spend $55 billion to $65 billion on its new transition businesses between 2023 and 2030, when the sum will equal its investment in oil and gas. BP recently opened a new office in Hamburg which will oversee its offshore wind expansion. BP operates two refineries in Germany -- Lingen and Gelsenkirchen -- as well as Aral, Germany's largest petrol station network. Looney had defended the offshore wind bid, saying he expected strong demand for clean energy.

Persons: Kacper, Patrick Wendeler, Bernard Looney, Wendeler, Looney, Christoph Steitz, Ron Bousso, Alexandra Hudson Organizations: British, REUTERS, EV, BP, Reuters, Reuters Graphics BP, Volkswagen, BMW, Rivals, Shell, Reuters Graphics Reuters, Alexandra Hudson Our, Thomson Locations: Pienkow, Poland, FRANKFURT, LONDON, Germany, BP Europe, Hamburg, Lingen, Gelsenkirchen

☆ Oil investors open to dividend cut to boost clean energy spending -Deloitte
▼ + stars: | 2023-09-12 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

Energy firms have sharply increased shareholder returns on the back of high energy prices after years of overspending on production growth. Oil and gas companies led all industries in cash distribution to shareholders in 2022, with a combined 8% dividend and buyback yield, Deloitte said. But investors holding $2.3 trillion of equity in the global oil and gas industry are changing their expectations about growth markets faster than energy company executives, Deloitte said. About 75% of surveyed investors stated that they would continue holding shares to accelerate investments in lower-carbon technologies, even if yields shrank to as little as 3%. About 43% of surveyed investors emphasized battery storage as their key area for investment.

Persons: Chen Aizhu, Kate Hardin, Hardin, Sabrina Valle, Jamie Freed Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Deloitte, . Energy, Oil, Exxon Mobil, Chevron, BP, Shell, Thomson Locations: China, Dalian, Liaoning province, HOUSTON

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