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USDOE Approves $1.355bn Funding for NuScale’s SMR Project
Nuclear Power Plant
E.ON Sells German Nuclear Power Ahead at Above-Market Prices
German utility E.ON said on Wednesday it has sold forward 73 per cent of its 2021 nuclear power generation and 46 per cent of its 2022 output at prices above the current wholesale market.
EDP Renewables to Divest 242MW Onshore Wind Farm Portfolio
Portuguese utility firm EDP is to sell a portfolio of seven onshore wind farms in a €426 million ($502 million) deal.
Spain-Based Iberdrola Takes Over Infigen Energy
It proposed to buy the Australian producer for $638m.
Sasol Sees Loss With $6.3 Billion in Writedowns, Oil Slump
Sasol Ltd. said it will swing to a full-year loss per share after writedowns on U.S. chemical assets contributed to 112 billion rand ($6.3 billion) of charges and oil prices declined.
Equinor Names New Chief Executive
Anders Opedal has been named as Equinor’s new president and chief executive, with a vow to accelerate the company’s growth in renewables.
Saudi Aramco Profit Collapses But Oil Giant Retains $75bn Dividend
State oil giant Saudi Aramco saw profit collapse nearly 75 per cent in the second quarter as the coronavirus pandemic decimated oil prices around the world.
Deutsche Bank to End Lending for Coal Mining by 2025
Would not finance projects in the oil and gas sector that use hydraulic fracturing in countries with scarce water supplies, new projects in the Arctic region, and new oil sand projects.
Saudi Aramco Profit Drops 50% for First Half of the Year as Pandemic Batters Oil Price
Oil giant Saudi Aramco reported a 50% fall in net income for the first half of its financial year, reflecting a devastating year for oil markets and the global economy.
Swedish Energy Agency Allocates $3.5M in Latest Marine Energy Call
The Swedish Energy Agency has recently opened a call for the development of cost-effective and sustainable marine energy systems.
EU Banks Support Natural Gas Adoption in Cyprus
The Natural Gas Infrastructure Company of Cyprus has secured a €80 million loan from the European Bank for Reconstruction and Development.
United Arab Emirates
Abu Dhabi Plans to Construct New Projects in Energy Sector
Awaidha Murshed Al Marar, Chairman, Abu Dhabi Department of Energy (DoE), has said that encouraging investment in the energy sector is one of the department's strategic priorities.
BP Cuts Dividend for First Time in a Decade After Record Loss
The dive into the red came after the firm slashed the value of its oil and gas exploration assets in response to price forecasts.
Chevron Posts Massive $8.3 Billion Loss
U.S. oil major Chevron hit the red hard as it reported a massive loss of $8.3 billion, or almost $4.5 per diluted share, for the second quarter of 2020.
Brazil's State-Owned Eletrobras to Invest $1 Billion a year Through 2035
Brazilian state-owned power company Eletrobras plans to invest 6 billion reais per year until 2035 expanding its power generation and transmission.
EnBW Soars on Stellar Renewables Return
EnBW banked adjusted earnings before interest, tax, depreciation and amortisation of €426m from its renewables division for the first six months of 2020
Air Liquide’s First Renewables Deal in Europe to Power Spanish Operations
Global energy company Air Liquide has signed its first renewable power purchase agreement in Europe.
Trump Says He Does not Understand why US should Defend Germany from Russia
US President Donald Trump said he does not understand why the US should defend Germany from Russia.
Schneider Electric Expects Lower Annual Revenue, Margin on Virus Uncertainties
Schneider had previously forecast organic revenue growth and a higher core profit margin for the year, but scrapped this in March due to the pandemic
Tokyo Gas to Spend $657 mln in U.S. Shale, Solar Assets
Tokyo Gas will also pay up to 49 billion yen to purchase the 630 megawatts Aktina solar power project in Texas from Hecate Energy, a U.S. renewable energy developer.
MENA Fund to Increase Saudi Investments with Eye to Recovery
Middle Eastern fund managers plan to increase investments in Saudi Arabia in the current quarter, betting on the kingdom’s ability to bounce back from the coronavirus and low oil price shocks.
Chinese Offshore Oil and Gas Company Joins ADNOC’s Concessions
ADNOC has entered into an agreement for the transfer of rights in its Lower Zakum and Umm Shaif and Nasr offshore concessions from the China National Petroleum Corporation.
IFC Assists SMEs in Nigeria to Navigate Economic Challenges
International Finance Corporation is providing a loan of up to $50 million to Access Bank to help the bank increase liquidity to thousands.
ES Kapital Invests in Munich Start-Up KEYOU
Innovative hydrogen technologies developer KEYOU has announced ES Kapital as its new financial investor.
Petrobras, Karoon Agree on Changes to Terms of $665 mln Sale of Baúna Field Stake
Under the new terms, Karoon is paying an initial $380 million to Petrobras, including a $49.9 million downpayment made on July 24.
Brazil’s Eneva Offers $1.4bn to Acquire Stake in AES Tiete
Brazilian power generation company Eneva has reportedly submitted an offer of a $1.44bn (BRL7.5bn) to acquire a controlling stake in AES Tiete Energia.
Most views from Energy Economy
Total Drives Green Strategy With €500m Zero-Crude Project
Vietnam Requires $133.3bn in Power Investment By 2030
Europe Announces First-Ever Renewable Energy Institute
NextEra Energy to Acquire Power Transmission Company GridLiance
ExxonMobil to Cut European Workforce By 1600
Jordan to Leverage €1.4 million EIB Grant to Boost Municipal Efficiency Programmes