Energy Repsol’s profit doubles on high oil and gas prices Spain’s Repsol posted a first-quarter profit upswing on Thursday, bolstered by higher oil and gas prices and recovery from the coronavirus pandemic. Commodities prices soared after Russia invaded Ukraine in February, sending further shockwaves through markets already reeling from last year’s collision between tight supplies and high demand in economies reopening after coronavirus lockdowns. Adjusted […] April 29, 2022
Energy Volkswagen and BP consider e-car charging alliance in new regions Europe’s top carmaker Volkswagen and BP are planning to deepen their electric charging partnership and could expand it to other regions and technologies, the CEOs of both companies said on Thursday. “There are so many more areas where we are complementary,” Volkswagen CEO Herbert Diess told reporters on the sidelines of an event in Duesseldorf […] April 29, 2022
Energy Ecuador Energy Minister resigns, as country starts talk over new oil contracts Ecuador’s Energy Minister Juan Carlos Bermeo resigned on Thursday, saying he had “completed a cycle,” just as the country begins the process of renegotiating oil block contracts with private companies. Ecuador’s President Guillermo Lasso appointed Bermeo as minister of energy and non-renewable natural resources in June last year, charging him with the mission to build […] April 29, 2022
Banking & Finance Orsted defies Russia, refuses to open roubles account for gas payments Denmark’s Orsted has no intention of opening a rouble account in Russia to accommodate Moscow’s demand for gas payments in the Russian currency, the energy firm’s CEO said on Friday. Orsted sold its oil and gas assets in 2017 to focus on offshore wind energy but retains a long-term gas deal with Russia’s Gazprom which […] April 29, 2022
Energy Germany: Gazprombank accounts do not breach Russia oil sanctions European energy firms can open special accounts with Gazprombank to pay for Russian gas, a key demand by Moscow, without breaching sanctions if transferring euros or dollars to them fulfils their contractual obligations, the German Economy Ministry said. Russia cut gas supplies to Bulgaria and Poland this week for failing to pay in roubles, raising […] April 29, 2022
Energy Iran: ‘Terrorist attacks’ behind move of uranium parts workshop to underground location The relocation of a significant part of centrifuge machines to a safer location was due to a “terrorist attack” against Iran’s Karaj nuclear site, the spokesman for the Atomic Energy Organisation of Iran was quoted as saying on Friday. U.N. nuclear watchdog chief Rafael Grossi said on Thursday that Iran had moved a new workshop […] April 29, 2022
Energy US energy secretary says oil, gas output will continue to increase The US Energy Secretary said on Monday US oil and gas production is rising and will continue to rise to make up for the 1 to 1.5 million barrels of oil per day that has been pulled off the market in the wake of Russia’s invasion of Ukraine. Jennifer Granholm told CNBC the boost in US oil […] April 25, 2022
Energy Italy’s Enel in talks to sell Brazilian power distributor for $2bn Italy’s Enel SpA is in talks to sell its Brazilian power distributor company Celg-D in a deal that may reach $2 billion, four sources with knowledge of the matter said. Celg-D distributes power in the Brazilian centre-west state of Goias and serves 3.27 million customers. The sources said companies interested in acquiring Celg-D include Brazilian rivals […] April 25, 2022
Energy Iran Guards ‘seize foreign ship’ in Gulf for smuggling fuel Iran’s elite Revolutionary Guards have seized a foreign vessel in the Gulf for smuggling 200,000 litres of fuel, a senior Guards commander told the semi-official Fars news agency on Sunday. “The ship was seized in the northern part of the Persian Gulf. Its eight crew have been handed over to legal authorities in the southern […] April 24, 2022
Energy Dubai utility DEWA to raise $6.1 billion in biggest Gulf IPO since 2019 DEWA will add to growing volume from issuers in the Gulf, where $3.5 billion has been raised from IPOs this year, data from Refinitiv shows, exceeding European listings even as global markets remain volatile after Russia’s invasion of Ukraine. Dubai’s deputy ruler and finance minister Sheikh Maktoum Bin Mohammed said in a tweet that DEWA […] April 6, 2022
