(Steel Dynamics, 15.Dec.2023) — Steel Dynamics, Inc. (NASDAQ/GS: STLD) provided fourth quarter 2023 earnings guidance in the range of $2.60 to $2.64 per diluted share. Comparatively, the company’s third quarter 2023 earnings were $3.47 per diluted share and prior year fourth quarter earnings were $3.61 per diluted share. Fourth quarter 2023 profitability from the company’s steel operations is expected […]
Year: 2023
TG Natural Resources to Buy Rockcliff Energy for $2.7bn
(Quantum, 15.Dec.2023) — Rockcliff Energy II LLC, a portfolio company of Quantum Energy Partners, announced the entry into a definitive agreement with TG Natural Resources LLC (TGNR), in which TGNR will acquire 100% of the membership interests in Rockcliff for $2.7bn, prior to customary adjustments (the “Transaction”). Rockcliff is a […]
Petrobras on First Installment of Remuneration to Shareholders
(Petrobras, 15.Dec.2023) — Petrobras, following up on the Material Fact of 08/03/2023, informs that it will pay today the first installment of the remuneration to shareholders for the second quarter of 2023. The gross amount to be distributed today is R$ 0.574652 per common and preferred share in the form […]
Petrobras Updates on Divestment of Stake in UEG Araucária S.A. (UEGA)
(Petrobras, 15.Dec.2023) — Petrobras, following up on the release disclosed on 27 Oct. 2023, informs that it has closed the competitive process for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA), together with the sale of the stakes of its partners, Companhia Paranaense […]
Brazilian Bid Round Opens New Offshore Frontier in Pelotas Basin
(WoodMac, 14.Dec.2023) — A total of 193 blocks were auctioned in Brazil’s December 13 oil and gas licensing round, 192 under concession and one under production sharing agreement, signaling strong optimism for the industry, according to Wood Mackenzie. Highlights from these bid rounds included: The total amount in bonuses was […]
S&P Global Releases its 2024 Energy Outlook
(S&P Global, 14.Dec.2023) — Analysts at S&P Global Commodity Insights, an independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy and energy transition markets, today released their latest 2024 energy outlook. OVERVIEW After years of turbulence, global markets are still striving to find sustainable […]
China’s Solar Production Costs Fall by 42% in Last Year
(WoodMac, 14.Dec.2023) — The cost of producing solar modules in China has dropped by 42% in the last 12 months to US$0.15 per watt (/W) giving manufacturers in the country an enormous cost advantage over international rivals according to a new Horizons report from Wood Mackenzie. The report: ‘Top of […]
Joint Declaration between Guyana and Venezuela
(CELAC, 14.Dec.2023) — On Thursday, 14 Dec. 2023, in Argyle, Saint Vincent and the Grenadines, His Excellency Irfaan Ali, President of the Co-operative Republic of Guyana and His Excellency Nicolas Maduro, President of the Bolivarian Republic of Venezuela held discussions on matters consequential to the territory in dispute between their […]
Guyana, Venezuela agree to not use force in Essequibo spat
(Reuters, 14.Dec.2023) — Guyana and Venezuela on Thursday agreed to avoid any use of force and to not escalate tensions in their long-running dispute over the oil-rich Esequibo area after a meeting between their heads of state in Saint Vincent and the Grenadines. The 160,000-square-km (62,000-square-mile) region is generally recognized […]
Shell Assumes 100% Working Interest in US GOM Kaikias Field
(Shell, 13.Dec.2023) — Shell Offshore Inc., a subsidiary of Shell plc (Shell), acquired the 20% working interest (WI) of MOEX North America LLC, a 100% subsidiary of Mitsui & Co., Ltd., in the Kaikias field in the US Gulf of Mexico. Shell now has 100% WI and remains the operator. “Since […]
Pembina Announces $3.1bn Acquisition of Enbridge Interests
(Pembina, 13.Dec.2023) — Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) has entered into an agreement with Enbridge Inc. to acquire all of Enbridge’s interests in the Alliance, Aux Sable and NRGreen joint ventures. Highlights Pembina has entered into an agreement to acquire Enbridge’s interests in Alliance, Aux Sable and NRGreen […]
Iberostar Unveils Circular Economy Roadmap
(Iberostar, 13.Dec.2023) — Iberostar Group, involved in responsible tourism, unveils its new roadmap showcasing its commitment to circular economy principles at the 28th edition of the United Nations Conference (COP28) in Dubai, at the UNWTO event: Tourism United for Climate Action – Delivering on the Commitments of the Glasgow Declaration. New roadmap outlines Iberostar’s strategic progress in […]
Consortium to Develop a 1,500 MW Hydropower Project in Mozambique
(TotalEnergies, 13.Dec.2023) — The consortium of EDF (40%), TotalEnergies (30%) and Sumitomo Corporation (30%) announces that it has been selected as strategic partner by the government of Mozambique and entered into a joint development agreement for the development of the Mphanda Nkuwa hydropower project (MNK). Located on the Zambezi River, […]
Eni Reports on Treasury Share Purchases
(Eni, 13.Dec.2023) — During the period from 4-8 Dec. 2023, Eni acquired on the Euronext Milan no. 5,595,589 shares (equal to 0.17% of the share capital), at a weighted average price per share equal to 14.9630 euro, for a total consideration of 83,726,564.84 euro within the second tranche of the […]
Petrobras Reveals Results of ANP Bidding Process
(Petrobras, 13.Dec.2023) — Petrobras has acquired 29 blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Petrobras acquired blocks P-M-1739, P-M-1737 and P-M-1797 in partnership with CNOOC Petroleum Brasil Ltda and Shell Brasil Petróleo Ltda. The consortium […]
Shell Takes FID for Phased Wells at Perdido in US Gulf of Mexico
(Shell, 12.Dec.2023) — Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced the Final Investment Decision (FID) for a phased campaign to deliver three wells in the Great White unit designed to boost production at the Shell-operated Perdido spar in the US Gulf of Mexico (GoM). After completion of this […]
TotalEnergies Buys Numerous Start-ups in the Electricity Business
(TotalEnergies, 12.Dec.2023) — To contribute to the acceleration of its development in the electricity business, TotalEnergies acquires three start-ups that have benefited from its TotalEnergies On acceleration program based at STATION F in Paris. The success of the collaborations and tests carried out during their participation in the program has […]
Petrobras Greenlights Deal with Eletrobras
(Petrobras, 12.Dec.2023) — Petrobras‘ Board of Directors, in a meeting held on 11 Dec. 2023, approved a judicial settlement regarding the collection of differences in monetary correction and interest on Eletrobras‘ Compulsory Loan. Conditional on judicial approval, the agreement provides for the payment to Petrobras of R$1.2bn within 5 working […]
Tellurian BODs names Daniel Belhumeur as President
(Tellurian, 11.Dec.2023) — Tellurian Inc. (NYSE American: TELL) announced that following the appointment of Martin J. Houston as Chairman of the Board, the Board of Directors has named former General Counsel Daniel Belhumeur as President of Tellurian, and former Deputy General Counsel Meredith Mouer as General Counsel and Chief Compliance […]
Shell 3Q:23 Euro and GBP Equivalent Dividend Payments
(Shell plc, 11.Dec.2023) — The Board of Shell plc announced the pounds sterling and euro equivalent dividend payments in respect of the third quarter 2023 interim dividend, which was announced on 2 Nov. 2023 at US$0.331 per ordinary share. Shareholders have been able to elect to receive their dividends in […]
Sungrow Spearheads Iraq’s Renewable Energy Revolution
(Sungrow, 11.Dec.2023) — In a strategic move toward harnessing the untapped potential of Iraq’s solar landscape, Sungrow is taking the lead in shaping the nation’s green energy sector. Iraq’s Minister of Oil, Ihsan Abdul Jabbar, stressed the importance for Arab countries to prioritize high-efficiency, low-cost energy production to foster a modern economy. The country […]
Shell to Divest Partial Stake in Projects to InfraRed Capital Partners
(Shell, 11.Dec.2023) — Shell Wind Energy Inc. and Savion Equity, LLC, subsidiaries of Shell plc (Shell), have agreed to sell partial ownership stake in two U.S.-based renewable energy projects to InfraRed Capital Partners. Shell will sell 60% interest in Brazos Wind Holdings, LLC (Brazos), a 182-megawatt (MW) onshore wind farm […]
Ellomay Capital on Results of 2023 AGM
(Ellomay, 11.Dec.2023) — Ellomay Capital Ltd. (NYSE American: ELLO) (TASE: ELLO), a renewable energy and power generator and developer of renewable energy and power projects in Europe, USA and Israel, announced that at the annual general meeting of the company’s shareholders, held on 11 Dec. 2023 (the “AGM“), the following proposals were adopted and approved by […]
Pembina Reveals 2024 Guidance, Provides Business Update
(Pembina, 11.Dec.2023) — Pembina Pipeline Corporation (TSX: PPL; NYSE: PBA) announced its 2024 financial guidance and provided a business update. Highlights 2024 adjusted EBITDA guidance of $3.725bn to $4.025bn, driven by continued volume growth across the Western Canadian Sedimentary Basin (“WCSB”), new assets placed into service, re-contracting of certain assets, […]
Occidental to Buy CrownRock for $12bn
(Oxy, 11.Dec.2023) — Occidental (NYSE: OXY) entered into a purchase agreement to acquire Midland-based oil and gas producer CrownRock L.P., a joint venture of CrownQuest Operating LLC and Lime Rock Partners, for cash and stock in a transaction valued at approximately $12bn, including the assumption of CrownRock’s debt. Highlights include: Expected […]
Tensions Soar Between Guyana and Venezuela over Essequibo
(AP, 9.Dec.2023) — A century-old territorial dispute deepened by the discovery of oil is boiling over between neighbors Guyana and Venezuela. Steeped in patriotism, the Venezuelan government is seizing on the fight to boost support ahead of a presidential election among a population fed up with a decadelong crisis that has pushed […]
Scania’s New Biogas Engines: Going Greener with 5% Fuel Savings
(Scania, 8.Dec.2023) — Scania first hinted about its new biogas engines at last year’s IAA fair, but when the state-of-the-art engines arrived they came with a twist – they are now paired with two-thirds of the successful Super-based powertrain. The well-composed and harmonised trio – the new biogas engines plus […]
Cboe Canada on Listing of LiTHOS Energy
(Cboe Canada, 8.Dec.2023) — Cboe Canada, the new business name of the NEO Exchange, welcomes LiTHOS Energy Ltd., a critical minerals extraction technology company improving the sustainability of lithium mining, as they graduate their public listing. Following a voluntary delisting from the Canadian Securities Exchange, LiTHOS is now trading on Cboe […]
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Martin Houston Becomes Tellurian Chairman [PDF Download]
(Tellurian, 8.Dec.2023) — Tellurian Inc. (NYSE American: TELL) announced that its Board of Directors has named Martin Houston, Co-Founder and Vice Chairman, to be Chairman of the Board of Directors. Co-Founder Charif Souki will no longer serve as an executive or officer of the company or hold any managerial responsibilities. […]
Hull Street Energy Buys California Natural Gas-Fired Power Plant
(Hull, 7.Dec.2023) — Hull Street Energy has acquired 100% of EF Oxnard, LLC from an affiliate of Atlantic Power & Utilities. Located in Oxnard, California, EF Oxnard is a nominal 48 MW simple cycle, gas-fired facility. The EF Oxnard plant is a high-quality addition to Hull Street Energy’s transition-focused power infrastructure […]
Thayer Infrastructure Services Acquires Dynetek Solutions
(TIS, 7.Dec.2023) — Thayer Infrastructure Services, LLC (TIS), an infrastructure services providers in the power, fiber, and wireless communications construction industries, announced today the completed acquisition of Dynetek Solutions, Inc., now Dynetek Solutions, LLC. Dynetek excels in horizontal directional drilling (HDD) services, while providing infrastructure installation, upgrade, and maintenance solutions […]
Sempra Named Among Newsweek’s ‘Most Responsible Companies’
(Sempra, 7.Dec.2023) — Sempra (NYSE: SRE) (BMV: SRE) has been recognized by Newsweek as one of “America’s Most Responsible Companies” for 2024, earning this distinction for the fifth consecutive year. The annual list ranks companies based on their commitment to corporate responsibility, specifically on efforts related to environment, social and corporate governance. […]
Talos Energy Provides Operational Updates
(Energy Analytics Institute, 7.Dec.2023) — Talos Energy Inc. (NYSE: TALO) provided operational updates related to its operations in the Gulf of Mexico and first production from its Venice and Lime Rock finds. First, Talos expects the impact related to the Main Pass Oil Gathering pipeline shut-in to be immaterial to its […]
Dujiangyan: Changes and Constants in 2279
(The Sichuan Dujiangyan Water Conservancy Development Center, 7.Dec.2023) — As 2023 comes to a close, international students from countries such as France, Canada, Colombia are gearing up to visit Dujiangyan to experience its hydraulic culture. Now 2279 years old, known as the “originator of world hydraulic culture,” Dujiangyan reveals its changes and constants to visitors […]
DNV Names Head of CCUS
(DNV, 6.Dec.2023) — DNV, the independent energy expert and assurance provider, has announced the appointment of Jamie Burrows as head of its Energy Systems business area’s Carbon Capture, Utilization, and Storage (CCUS) unit. Amidst COP28 proceedings, the move underscores DNV’s commitment to CCUS as a pivotal tool for decarbonizing hard-to-abate sectors, such […]
Venezuela Issues Arrest Warrants for Opposition Staffers for Treason
(Reuters, 6.Dec.2023) — Venezuela’s attorney general on Wednesday said there are arrest warrants for three people involved in the campaign of opposition presidential nominee Maria Corina Machado, for crimes including treason. A lawyer for Machado’s Vente Venezuela party said the three people have always acted correctly. The warrants for Henry […]
Chevron Reveals $16bn Capex Budget for 2024
(Chevron, 6.Dec.2023) — Chevron Corporation (NYSE: CVX) announced an expected organic capital expenditure range of $15.5bn to $16.5bn for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3bn for 2024. Upstream spending in 2024 is expected to be about $14bn. Of this planned expenditure, two-thirds […]
Metalla Royalty Highlights Near-Term Catalyst
(Metalla, 6.Dec.2023) — Metalla Royalty & Streaming Ltd. (TSXV: MTA) (NYSE American: MTA) is pleased to profile its post-merger core assets and provide a three-year corporate strategy and highlights near-term portfolio catalysts. CORPORATE HIGHLIGHTS An emerging mid-tier royalty and streaming company now with over 100 royalties and streams with several cornerstone assets […]
Secretary Blinken’s Call with Guyana’s President Irfaan Ali
(US Treasury, 6.Dec.2023) — Secretary of State Antony J. Blinken spoke with Guyanese President Dr. Mohamed Irfaan Ali to reaffirm the United States’ unwavering support for Guyana’s sovereignty. The Secretary reiterated the United States’ call for a peaceful resolution to the dispute and for all parties to respect the 1899 arbitral […]
Maduro Orders Immediate Oil and Gas Exploration in Disputed Territory
(Voice of America, 6.Dec.2023) — Venezuelan President Nicolas Maduro has ordered state-owned oil, gas and mining companies to “immediately” begin operations in a wide territory controlled by neighboring Guyana. Maduro issued the order Tuesday, two days after Venezuleans voted overwhelmingly to approve a referendum that would annex the 160,000-square kilometer […]
Energy Chamber Welcomes News of Atlantic Restructuring Agreement
(The Energy Chamber of Trinidad & Tobago, 6.Dec.2023) — The Energy Chamber of Trinidad & Tobago welcomes the news of the final signing of the Atlantic restructuring agreement. The Energy Chamber would like to thank and compliment the negotiating teams from bpTT, Shell, the National Gas Company of Trinidad and […]
TotalEnergies and Masdar Demonstrate Methanol-to-SAF Pathway
(TotalEnergies, 6.Dec.2023) — The first test flight to demonstrate the potential for converting Methanol to SAF (Sustainable Aviation Fuel) has taken place in Dubai on the sidelines of COP28 in the UAE. Masdar, TotalEnergies, the UAE General Civil Aviation Authority, Airbus, Falcon Aviation Services and technology licensor Axens all contributed […]
Venezuela Moves to Claim Guyana-Controlled Region
(BBC, 6.Dec.2023) — Venezuelan President Nicolás Maduro is plunging ahead with its plans to take over Essequibo, the oil-rich region controlled by neighbouring Guyana. He has ordered the state oil company to issue extraction licences there and proposed the National Assembly pass a bill making the area part of Venezuela. […]
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ExxonMobil on Earnings from 2019-2027 [PDF Download]
(ExxonMobil, 6.Dec.2023) — ExxonMobil gave an update to its Corporate Plan through 2027, reflecting continued execution of its strategy to provide the products society needs and to lower emissions, both its own and others’. Highlights: Expecting capital investments to generate average returns of ~30%, with payback periods less than 10 years for […]
Air Burners Launches BioCharger
(Air Burners, 5.Dec.2023) — Air Burners®, the leading manufacturer of air curtain burner systems worldwide, collaborated with Rolls-Royce and Volvo Construction Equipment to develop and test the BioCharger – an innovative, portable machine that turns biomass waste into energy. The BioCharger is the first machine of its kind, combining three innovative […]
IDB Invest and IFC Launch Amazon Finance Network
(IDB Invest, 5.Dec.2023) — During COP28, IDB Invest and IFC announced the launch of the Amazon Finance Network, bringing together financial institutions to increase investment flows, mobilize capital, promote financial inclusion, share knowledge on innovative financial solutions, and generate synergies with the public sector. The initiative aims to generate sustainable impact […]
Maduro to Permit Development in Disputed Territory
(Reuters, 5.Dec.2023) — Venezuelan President Nicolas Maduro said on Tuesday he would authorize oil exploration in an area subject to a dispute with Guyana, which said it would report his comments to the United Nations and the International Court of Justice (ICJ). Maduro’s pledge to permit development around the Esequibo […]
Increased Market Share Expected as Investment Builds for Low-Carbon Hydrogen
(WoodMac, 5.Dec.2023) — Oil and gas Majors have just an 8% market share of announced global net low-carbon hydrogen production capacity, which equates to 102.6 million tonnes per annum (Mtpa), according to latest analysis from Wood Mackenzie. The Majors are focused on getting small-scale projects operational before 2030 to pave the […]
New Unitized Commercial Structure for Atlantic LNG
(Office of the Prime Minister of Trinidad and Tobago, 5.Dec.2023) — The government has secured a new unitized commercial structure for Atlantic LNG which allows the National Gas Company of Trinidad and Tobago (NGC) to obtain a greater share in the revenue derived from the sale of LNG on the […]
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Fact sheet: Argentina’s Vaca Muerta formation [Videos]
(Aaron Simonsky, Energy Analytics Institute, 4.Dec.2023) — Argentina’s Vaca Muerta shale formation contains an estimated 308 trillion cubic feet (Tcf) of recoverable shale resources and is important for continued economic development of the South America country, according to the government. ____________________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All […]