Wednesday, December 11, 2019

Energy Assets News

Malaysian State Open to Buying Petronas Stake

© Dmytrii Minishev / Adobe Stock

Malaysia's Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government.Petronas, the world's third-largest exporter of liquefied natural gas…

China, Philippines: 'Bigger Step' Possible Offshore

© Sasha Strekoza / Adobe Stock

Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can "properly" handle their dispute over sovereignty.Xi made the remarks on Thursday in a meeting in Beijing with Philippine President Rodrigo Duterte, who has positioned h

Santos Posts Record Production in Q1

Santos in January announced first oil from the Van Gogh infill project, marking the completion of the two-well program that will increase production from the field. (Photo: Santos)

Australia's No.2 independent gas producer Santos Ltd on Wednesday posted record quarterly production, boosted by its acquisition of Quadrant Energy assets, while sales revenue jumped 28 percent.Santos said production for the quarter ended March 31 rose to a record 18.4 million barrels of oil equivalent (mmboe)…

Macquarie Kicks off Sale of Wind Assets in Italy and France

Photo: Renvico

Infrastructure fund Macquarie has kicked off the sale of its Renvico wind farm portfolio located in Italy and France worth around 400 million euros ($450 million), four sources familiar with the matter said.The Australian fund, advised by Rothschild, has sent out teasers and information memoranda will follow at the end of the month…

Ineos to Upgrade Forties Pipeline

(Image: Ineos)

Billionaire Jim Ratcliffe's petrochemicals company Ineos said on Wednesday it would spend 1 billion pounds ($1.33 billion) on UK energy assets, including the Forties pipeline, which carries almost half of Britain's oil and gas from the North Sea.Ineos said it would invest 500 million pounds on overhauling its ageing Forties pipeline…

Schottel Merges Tidal Units to Sustainable Marine Energy

Image: Sustainable Marine Energy Ltd

Schottel, the manufacturer of propulsion and steering systems for ships and offshore applications, has made a strategic decision to merge its tidal energy businesses into Sustainable Marine Energy (SME), including UK subsidiary TidalStream Ltd and Canadian subsidiary Black…

Offshore Wind Ready To Take Off in US

Image: Institute for Energy Economics and Financial Analysis

Up and down the East Coast, initiatives to develop a massive and largely untapped market can make sea change in American offshore wind, says the  Institute for Energy Economics and Financial Analysis (IEEFA).IEEFA pointed out that the big lease sales ($405 million) last month…

Mariner East 2 Pipeline Operational: Energy Transfer

Image:  Energy Transfer

United States-based Energy Transfer announced that its Mariner East 2 natural gas liquids (NGLs) pipeline is in service, available for both interstate and intrastate service.The natural gas company which owns and operates one of the largest and most diversified portfolios of energy assets…

DNV GL Launches Operations & Analytics Centre in India

Image: DNV GL

DNV GL, the world’s largest independent energy advisory and certification body, has launched a new Global Operations & Analytics Centre for renewable assets located in Bengaluru, India.The new centre will work in tandem with DNV GL’s existing UK Operations Control Centre in Glasgow…

Sempra Energy to Shed U.S. Storage, Renewable Assets

File Image (CREDIT: AdobeStock / © Hansenn)

U.S. utility Sempra Energy said on Thursday it plans to sell some of its natural gas storage and renewable energy assets and expects to record a charge between $1.47 billion and $1.55 billion during the second quarter. Earlier this month, activist investors Elliott Management and Bluescape Resources Co…

Bahrain Launches $1 bln Energy Fund

Bahrain's government has launched an energy fund that aims to raise $1 billion from local, regional and international investors to develop the kingdom's energy assets, Oil Minister Sheikh Mohammed bin Khalifa al-Khalifa said on Thursday.The Bahrain Energy Fund will receive its initial capital from local entities including Nogaholding, the

Total Pays $1.7 bln for French Electric Retailer

Acquisition makes Total major competitor for EDF; and they paid 30 pct premium on Direct Energie's last close. Oil company Total said it will buy a majority stake in French electricity retailer Direct Energie in a 1.4 billion euro ($1.73 billion) deal that beefs up its challenge to state-owned market leader EDF.

Fieldwood Hungry for US Offshore Output

© eaumstocker / Adobe Stock

The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down. The private equity-backed company - already the largest operator on the U.S.

Brazil: 17 Firms Registered to Bid for Pre-salt Oil Exploration

A total of 17 companies have registered to take part in two rounds of bidding for licenses to explore pre-salt oil areas in Brazil, Oil and Gas Secretary Marcio Felix said on Thursday. The auctions next month include some of the most promising oil blocks in the world. Pre-salt oil…

Statkraft Divests Renewable Energy Assets in Four Markets

Norway's Statkraft swapped its hydropower units in Panama, Laos, Philippines and Zambia with other renewable energy assets in South America and Asia previously co-owned by a Norwegian development fund, the two organisations said on Wednesday. Statkraft acquired full ownership of hydropower…

Amarenco Acquires Renewable Energy Developer Groupe Carré

Olivier Carré  (Photo: Groupe Carré)

Amarenco, an independent power producer based in Ireland, has announced its acquisition of Groupe Carré, a renewable energy project developers active in France. This acquisition supports Amarenco’s strategic objectives and strengthens its position in France’s promising wind and solar energy markets.

Venezuela Discussing Citgo Collateral Swap with Rosneft

Reuters exclusively reported in July that Rosneft was negotiating to switch its collateral in the refiner for oilfield stakes and a fuel supply deal - a move to avoid complications from U.S. sanctions and legal problems, sources said at the time. State-owned Rosneft holds…

Engie Plans to Go Green

French utility Engie plans to switch all of its gas operations to biogas and renewable hydrogen by 2050, making it 100 percent green, its chief executive said on Monday. The power and gas group has some 70 biogas projects worldwide, including 40 in France, and says that if…

UPM May Build New Biofuel Plant in Finland

Pulp and paper maker UPM is looking at building a new renewable fuel plant in Finland, it said on Monday, part of efforts to find new sources of growth in response to falling paper demand in Europe. UPM is the world's largest maker of graphic papers such as newsprint and magazine paper…

ReNew Power Buys Ostro Energy

Photo: ReNew Power

ReNew Power, backed by Goldman Sachs and Canada Pension Plan Investment Board (CPPIB), said on Monday it has acquired Ostro Energy Private Ltd, backed by London-based Actis LLP, in one of India's biggest renewable energy deals. ReNew did not disclose financial details, but…