TotalEnergies sold 50% of the Greek renewables portfolio to TotalEnergies for 254 millions euros
PARIS, December 17 - TotalEnergies, the French oil major, has agreed to sell 50% of its 424 megawatt portfolio of Greek wind and solar assets to Asterion Industrial Partners of Spain for 254 millions euros ($297.36million), according to an announcement made on Wednesday. It said that the deal valued the portfolio at 508 million euros or approximately 1.2 millions euros per megawatt installed. TotalEnergies has 32 gigawatts (gigawatts) of installed renewable capacity in the world, far ahead of the other oil majors.
Tokyo Gas CEO: More than half of investments in overseas markets will be directed to the US within 3 years.
Tokyo Gas, Japan’s largest city gas provider, will direct more than half the 350 billion yen ($2.3billion) it has set aside for overseas investments in the next three years to the U.S., according to CEO Shinichi Sasayama. Tokyo Gas announced a plan in?October to invest 1.3 trillion yen by March 2029. This included 350 billion yen to fund overseas projects, such as U.S. Shale Gas Development. Sasayama said in an interview that "North America was our top priority" in terms of our overseas strategy. He cited a combination of a growing U.S.
Suncor trims budget and projects increased oil and gas production in 2026
Suncor Energy forecast lower spending for 2026, despite increased oil and gas production. The company will tighten?costs, and increase shareholder returns through an expanded buyback plan. Suncor's outlook is similar to that of Canadian Natural Resources, Cenovus Energy and other oil sands producers in Canada. After years of investment, Canada's oil-sands producers have become among North America's low-cost operators and outperformed global competitors amid an oil?recession. Suncor, based in Calgary, Alberta, expects to produce between 840,000 and 875,000 barrels of oil per day (bpd) next year.
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations will ensure that the output of America's most prolific patch of oil will remain stable for many years. In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration reported that the Permian Basin, which spans West Texas, and Southeast New Mexico, will produce a record 6.76 million barrels of oil per day in December.
Schneider Electric announces $4 billion in share buybacks, boosts margin forecast
The?France-based?Schneider Electric announced on Thursday that it plans to purchase up to 3.5 billion euro ($4.1 billion) worth of shares through 2030. This is the first time in almost three years. It also aims to improve its core profit margin over the same period. The industrial group, in a press release published before an Investor Day?event held in London, said that it expects its adjusted earnings prior to interest, taxes, and amortization (EBITA) margin will increase by 250 basis points from 2026 to 2030. The industrial group had forecasted a rise of 50 basis points between 2023 and 2027.
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations mean that output in America's largest oil patch will remain stable for many years. In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration reported that the Permian Basin, which spans West Texas and southeastern New Mexico will produce an unprecedented 6.76 million barrels of oil per day in December. This is only a little higher than November's total. The U.S.
Canada's new oil tycoon is shaking up the sector with a bold expansion plan
Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company's status as one of ?North America's fastest-growing oil companies. Waterous wants to expand the company more aggressively and more efficiently than its competitors after Strathcona Resources' hostile bid for MEG Energy was unsuccessful. He wants Canada to be the fourth largest oil producer to increase oil and gas production to boost economic growth during a time of tensions between the U.S.
The US government is under pressure from the Fusion Energy Industry to provide billions of dollars in support
On Monday, fusion energy industry leaders met U.S. Department of Energy representatives to encourage them to provide billions of dollars to projects that seek to?generate electrical power by the same process as the sun. In November, the?department?created an Office of Fusion as part of a reorganization which focused on fossil and nuclear energy. Renewable energy offices were eliminated. The Trump administration has reversed billions in funding that former President Joe Biden authorized for?hydrogen- and renewable energy projects.
Kinder Morgan anticipates higher profits in 2026 due to strong natural gas demand
Kinder Morgan, a pipeline operator, said that it expected a growth in profit for '2026 compared to the 2025 forecast - due to strong natural gas demand. In after-market trading, shares of the company rose 1% to $27.57. The demand for natural gases has been boosted by the increase in LNG exports, and an increase in power consumption in data centers devoted to artificial intelligence (AI) and cryptocurrency. Kinder Morgan has signed long-term contracts to transport 8 billion cubic feet of natural gas per day to LNG facilities. It expects to deliver 12 bcfd in 2028.
Report: China invested $80 billion in cleantech overseas last year
According to a recent report from the Australian research group Climate Energy Finance, Chinese companies have invested $80 billion overseas in clean technologies to help absorb an oversupply. According to the report published on Sunday, many countries have also intensified their cleantech collaboration with China as a result of U.S. president Donald Trump's new tariffs. This brings China's overseas direct investment in green technology up to more than 180 billion dollars since 2023. Chinese companies dominate the supply chains of clean technologies, such as solar panels and batteries.
Virginia data centers to replace coal where coal once reigned
Entrepreneurs are now looking at the rural area with the ambitious vision to rebuild its economic by converting the old mines into data centers and solar power systems that could help feed the growing power demand of the artificial-intelligence boom. A non-profit group called Energy DELTA Lab (Discovery, Education, Learning & Technology Accelerator), which is aiming to develop energy resources on approximately 65,000 acres in southwest Virginia, is currently working on such a project.
Shell-led LNG Canada’s second processing unit is still down, according to sources
Two sources have confirmed that Shell-led LNG Canada’s second processing unit known as Train 2 is still down almost a month after it was first started up. On November 20, the company announced that a restart was scheduled for December 1, and would last approximately two weeks. On Thursday, a spokesperson for LNG Canada stated that it would provide an update this week. The complex, located in Kitimat (British Columbia), is the first major LNG-export facility in Canada, and the first in North America's West Coast. . LNG Canada will export 14 million tonnes of LNG annually when fully operational.
Tetra is considering a magnesium project in Arkansas with Pentagon-backed Magrathea
Tetra Technologies said on Tuesday that it may form a joint-venture with the Pentagon-backed startup Magrathea in order to build America's first magnesium refinery, and increase domestic supplies of this metal. U.S. Magnesium, a privately owned company, closed its Utah operation in 2022 due to environmental concerns. According to the U.S. Geological Survey, China produces 95% of all magnesium in the world. Magnesium is used as an alloy for steel and aluminium across the aerospace, energy, and defense sectors.
Joint development of synthetic LNG by Tree Energy, TotalEnergies and Japanese firms in the US
PARIS, 2 December - French oil giant TotalEnergies, along with its partner Tree Energy Solutions, will develop synthetic methane in collaboration with Japanese companies Osaka Gas Toho Gas Itochu, at an American facility located in Nebraska. Osaka Gas and Toho Gas will be the primary offtakers or contracted buyers of the synthetic gases as part of an aim to inject 1% of Japan's gas grid and reduce emissions by 2030. The most common way to obtain methane, also called natural gas, is by drilling into the ground. However it can also be produced chemically.
US LNG Exports Hit Record High in November on Cooler Weather
U.S. liquefied natural gas exports hit an all-time monthly high in November for the second straight month, driven by cooler weather and robust output from the country's two largest producers, preliminary data from financial firm LSEG showed on Monday.The U.S., the world's top LNG exporter, shipped 10.9 million metric tonnes last month, up from 10.1 mmt in October despite having one fewer day in the month, according to LSEG data.Cheniere Energy, the largest U.S. LNG exporter, boosted shipments to 4.6 mmt from its two Texas plants, compared with 4.1 mmt in October.
UK withdraws financial support for TotalEnergies Mozambique Liquefied Natural Gas Project
On Monday, the British government announced that it had decided to stop UK Export Finance from supporting TotalEnergies' Mozambique Liquefied Natural Gas Project. In 2020, the UKEF had committed to providing financial support for the $20 billion project. The project was supposed to turn Africa into a major LNG exporter for Europe and Asia. However, it was stopped in 2021 because of an islamist insurgency. In a press release, British business minister Peter Kyle stated that "my officials…
EDF Considers Selling US Renewable Unit to Focus on French Nuclear
French state-owned utility EDF is considering selling all of its U.S. renewable energy business, its CEO said on Wednesday, as the company focuses on building up its domestic nuclear operations and U.S. support for wind and solar has been rolled back.Bernard Fontana said the company was considering selling "between 50% and 100%" of its U.S. renewable unit, revising an earlier plan to sell only a minority stake.A deal could value the equity of the unit at nearly 4 billion euros ($4.6 billion)…
Venture Global and Tokyo Gas Sign 20-year LNG Supply Deal
Venture Global, a U.S. LNG exporter, has signed a deal for Tokyo Gas to receive 1 million metric tonnes per year (mtpa), starting in 2030. Venture Global has now signed its fourth long-term LNG contract with a Japanese firm. The U.S.-based company announced in a Wednesday statement that it had signed LNG long-term contracts totaling 7.75 mtpa over the past six months. This move shows that Japan is increasing its energy purchases from the United States, while President Donald Trump pushes for increased U.S. exports of LNG to support domestic producers as well as improve trade balances with Japan.
Commodities trader BB Energy lays some Houston traders off in major reorganization
Sources familiar with the situation said that BB Energy, a commodities trader, has cut over a dozen employees from its Houston office. This includes oil traders. The move is part of a major restructuring. A spokesperson for BB Energy confirmed that the company had made changes in order to focus its efforts on its most profitable core business while also diversifying into new high-potential markets. The company didn't say how many people were affected by the changes. Two sources said that BB Energy plans to move some administrative functions from the U.S. to Europe.
BB Energy, a Houston-based trader, has parted ways with several Houston traders as part of a major reorganization.
Sources familiar with the situation said that commodities trader BB Energy laid off more than a dozen employees from its Houston office and parted ways with some oil traders as part of a major restructuring. A spokesperson for BB Energy confirmed that the company had made adjustments to focus its efforts on its most profitable core businesses, while also diversifying into new high-potential markets. The company didn't say how many people were affected by the changes. Two sources said that BB Energy plans to move some administrative functions from the U.S. to Europe.