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Energy Economy
Solar project
Google signs PPAs on 400-MW Texas solar project portfolio
Saudi Arabia
10-08-2020
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.
Coal Mine
10-08-2020
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.
Oil Price
10-08-2020
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.
09-08-2020
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.
Cyprus
06-08-2020
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
05-08-2020
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.
United Kingdom
04-08-2020
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.
United States
04-08-2020
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.
Electricity Transmission
04-08-2020
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.
Germany
01-08-2020
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
Spain
01-08-2020
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.
Russian Federation
30-07-2020
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.
France
30-07-2020
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
Energy Investment
30-07-2020
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.
Saudi Arabia
29-07-2020
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.
CNOOC
28-07-2020
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.
28-07-2020
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.
Energy Investment
27-07-2020
ES Kapital Invests in Munich Start-Up KEYOU
Innovative hydrogen technologies developer KEYOU has announced ES Kapital as its new financial investor.
Oil Field
27-07-2020
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.
Energy Investment
27-07-2020
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.
Oil & Gas Trade
26-07-2020
Sinopec Unit Sells Gas Pipeline Asset to PipeChina
China's new oil and gas pipeline company PipeChina has made its first purchase of gas infrastructure assets.
Energy Investment
25-07-2020
Efficiency Companies Raise $858 Million In VC Funding In 1H 2020
Funding into Battery Storage and Efficiency companies was down in the first half of 2020
25-07-2020
Aker 2Q13 Earnings Impacted by Order Delays and Cancelations
Aker Solutions reported revenues of NOK 11.9 billion in the second quarter of 2013, compared with NOK 11.9 billion in the second quarter of 2012
United Kingdom
24-07-2020
Centrica to Sell US Business for $3.6bn as First-Half Profit Falls
British Gas owner Centrica said it was selling its US energy business to NRG Energy $3.6bn (£2.87bn) as part of a plan to turn the company around.
Energy Investment
24-07-2020
Minister Pun Urges Bangladesh to Invest in Nepal’s Hydropower
The government has urged the Bangladesh government and the private sector to invest in Nepal’s hydropower sector.
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