Germany's PNE has lost bid for Vietnam wind projects, in a new blow to foreign investors
The Vietnamese authorities have selected a newly-created subsidiary of the real estate conglomerate Vingroup for the development of the first phase of the country's biggest wind power project, leaving out Morgan Stanley's German renewable company PNE. PNE said that the decision was a "surprise". Hanoi cut retroactively subsidies last year for several renewable energy companies.
Norway Parliament rejects any challenge to LNG plant power supply
The Norwegian parliament rejected on Thursday a proposal that would have blocked?Equinor from supplying electricity to its Hammerfest LNG plant using the power grid of the region. This allowed the "ongoing" development to continue. The Socialist Party, which had previously supported the plan but now deemed it to be "in reality unlawful", withdrew their support. The Storting is the parliament of the Netherlands. It has 48 members.
Shell misses profit expectations, but keeps buyback pace
Shell's fourth-quarter profits missed expectations on Thursday, with an 11% decline to the lowest levels since early 2021 due to lower oil prices. However, it kept its massive share buyback program. Oil majors are used to large buybacks. However, lower gas and oil prices, ahead of a crude and liquefied gas glut, have led some to speculate that they may be reduced. This is especially true for European companies.
Equinor announces a sharp fall in capital spending next year and cuts back on buybacks by 70 percent
The company said that it would cut back on share buybacks to 70%, and reduce investment in renewables and low emissions energy. This was announced as the company reported a 22% decline in its fourth-quarter profits, due to lower oil and gas prices. Analysts say that share buybacks and dividends are unsustainable due to low oil prices. Equinor CEO…
Norway Parliament Rejects Challenge to LNG Plant's Power Supply Plan
Norway's parliament on Thursday rejected a proposal to block Equinor's plan to supply electricity to its Hammerfest liquefied natural gas (LNG) plant from the region's power grid, allowing the ongoing development to continue.Opposition parties had sought to revoke the LNG plant's planned link to the power grid, but the motion failed when the Socialist Party withdrew its support for the plan, calling it "in practice unlawful".A tota
Equinor sold around 30% of its US Gas on the spot market during January's price spike
Equinor, a Norwegian company, sold 30% of its U.S. natural gas assets in January on a'spot basis,' capitalizing on a chilly snap which boosted demand and prices. A January Arctic blast sent U.S. heat demand skyrocketing and frozen oil and gas wells. This cut gas production to a 2-year low, pushing prices at some Northeast gas hubs to record levels. Equinor has stakes in onshore gas production on the U.S.
Knight Vinke's founder says that his fund cannot invest in the uncertain US under Trump
Eric Knight stated that his hedge fund could not invest in the United States with President Donald Trump as the risks were too high. However, profits can be made in Europe because there are clearer rules and policies regarding green energy projects. Knight Vinke Asset Management, based in Monaco, sold "the last" of its U.S. investments in August. This was revealed in an interview with its CEO and founder Knight.
Knight Vinke's founder says that his fund cannot invest in the uncertain US under Trump
Eric Knight, a hedge fund manager, said that his fund could not invest in the United States with President Donald Trump as the risks were too high. However profits can be made by investing in Europe where the rules and policies regarding green energy projects is more predictable. Knight Vinke Asset Management, based in Monaco, sold its 'last' U.S. assets in August. This was revealed in an interview with its CEO and founder Knight.
Norway Socialist Party Withdraws Support for LNG Electricity Project Opposition
Norway's Socialist Party has withdrawn its support for a proposal to block Equinor's Hammerfest liquefied natural gas plant from receiving a planned onshore power connection, clearing the way for the grid development to proceed.Parliament is due on Thursday to vote on an opposition proposal seeking to revoke the LNG plant's planned link to the power grid, but the motion is likely to fail without backing from the Socialist Party.The
Equinor sells Argentina assets for $1.1 billion
Norwegian oil company Equinor announced on Monday that it had agreed to sell its onshore assets in Argentina's basin of Vaca Muerta for $1.1 billion to Vista Energy, while keeping all its offshore assets. The company stated that the remaining $550 million will be paid in Vista stock and in future payments of $225 millions. Equinor stated in a press…
Equinor Divests Onshore Argentinian Assests in $1.1b Deal
Norwegian oil group Equinor has agreed to sell its onshore business in Argentina's Vaca Muerta basin to Vista Energy for $1.1 billion, it said on Monday, while keeping its offshore assets in the South American nation.Half the payment, or $550 million, will be made in cash upon closing of the transaction, while the rest was split between $325 million in Vista stock, also on completion, and future payments of $225 million, the compan
Tanzanian minister: Tanzania will sign $42 billion mega LNG Project before June
A senior government minister said on Monday that Tanzania is expecting to sign a deal before June for its $42 billion project to build a liquefied gas plant. Production will begin in eight years. Equinor & Shell are the joint operators for this mega-gas project. It aims to unlock 47.13 trillion cubic foot of natural gas reserves. Exxon Mobil, Pavilion Energy…
Another legal defeat for Trump as US judge allows Dominion to restart offshore wind project
Federal judge cleared Dominion Energy, a U.S. energy company to resume its Virginia offshore project on Friday. This is the third legal blow this week against President Donald Trump’s anti-offshore winds agenda. Judge Jamar Walker of U.S. District Court for Eastern District of Virginia has issued a temporary injunction that allows Dominion Construction to resume construction on the $11.2billion project…
US Judge weighs Dominion's request to restart Virginia offshore Wind Project Stopped by Trump
In a lawsuit filed against the Trump administration, a federal judge will decide on Friday whether to allow Dominion Energy?to resume construction on its $11.2 billion Virginia offshore wind project. This hearing will be the third in a row this week that a federal judge will consider a challenge to an Interior Department order from December 22, filed by a developer of offshore wind. Dominion’s?Coastal Virginia Offshore Wind?
US Judge allows Equinor New York Offshore Wind Project to be restarted
The federal judge cleared Norwegian 'offshore wind developer Equinor on Thursday to resume work on the?New York Empire Wind Project, which was halted by President Donald Trump along with four other project last month. U.S. district judge Carl Nichols' ruling is the second legal blow to Trump's offshore policy this week. On Monday, a judge at the same court ruled that?Danish company Orsted?
US Judge to make a quick decision on Equinor's challenge to Trump offshore Wind Pause
A U.S. Judge said Wednesday that he will rule soon on whether he will allow Norwegian offshore wind developer Equinor, to resume construction on the Empire Wind project?off the coast of New York?in a lawsuit filed over the Trump Administration's suspension of federal waters for the offshore wind industry. The U.S. District Court of Washington's Judge…
US court will weigh New York's challenge to Trump's offshore wind halt
On Wednesday, a U.S. court will decide whether or not to allow Norwegian offshore developer Equinor the opportunity to resume the construction of the Empire Wind Project off the coast of New York. The company is suing the Trump administration for its suspension of the industry. The hearing at the U.S. District Court of Washington takes place two days…
After cutting costs, Equinor hopes that it can finalize the technical plan for the world's most northern oilfield.
Equinor, a Norwegian company, aims to finalize the technical plans for the development of the Wisting?undersea?oil discovery in the Arctic this year after reducing?its?costs significantly. ?on Tuesday. In 2022, Equinor, along with its partners, put the development of Wisting on hold. Wisting is located in the Barents sea, about 300 km (190 mile) off Norway's north coast.
US Judge allows Danish firm Orsted to resume Rhode Island offshore project that Trump stopped
The federal court on Monday allowed Danish offshore wind developer Orsted, along with four other projects that were halted by the U.S. administration of President Donald Trump last month, to resume work on their nearly completed Revolution Wind project. The decision?by?U.S. The ruling by U.S. District Judge Royce Lamberth represents a legal defeat for Trump who had sought to stop the expansion of offshore winds in federal waters.
New York Sues Trump Administration Over Halt on Two Offshore Wind Projects
New York's Attorney General sued the Trump Administration on Friday for suspending the construction of two major offshore wind project that the state says it needs to power a million homes and reduce its reliance on fossil fuels.Letitia J. James, New York's Attorney General, has filed two lawsuits asking a Washington federal court to stop President…